Information Technology in Marketing: The industrial revolt, which started in the second half of the 19th century, ushered in the widespread application of technology in business. Significant increases in marketing productivity required a kind of new technology.
The work in marketing consists of directing organizations according to the best way to satisfy customers. In short, marketing feeds on information. For sellers to know what buyers like and don’t like, they must observe their behaviour. Ask questions and ask for comments. And all marketers must be data on during or potential markets to determine their status and anticipate how they are likely to change. In short, marketing is information-driven.
Effective use of information improves marketing performance resulting in: Technology in Marketing
- Better Products:A better consumer understanding allows the buyer to develop products that better fit the buyer.
- Better prices:what customers are willing to pay for a product depends on how much they value it. Knowing the importance of a product for the consumer and what resources they have to buy helps sellers set attractive prices.
- Better Distribution:the probability of having a product when and where the consumer wants it increases if the seller knows their buying habits and prices.
- Better Promotion:a product and its benefit is communicated in many ways. Both the form and the content of advertisements and other promotions are improved if the marketer understands the reasons and what the consumer expects.
- Better Implementation:quick feedback on the marketing control program allows managers to assess their performance and adjust before losses increase or lost opportunities.
- However today numerous technological advances have had a significant effect on marketing. In this blog, I try to talk a little about the network applications that have introduced as powerful tools in marketing.
internet: It was created in the early 1970s as part of our government project. Its original purpose was to bring together researchers from many different places and allow them to exchange information. In 1989, the worldwide web network or worldwide network was created, which offered access to a part of the Internet and allowed users to share a wide range of communications, from text to illustrations and audio messages.
Today, any individual can create and register a website, a set of files headed by a home page and reached through a unique address.
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Electronic networks are organizations or individuals linked to sharing data, exchanging information and ideas, and performing tasks. These arise when individuals or organizations are linked by some means of telecommunication.
When a company reconfigures its market operations around empowered interactions with its network value chain, it engages in e-commerce. This complex network can link many companies at different levels of a distribution channel in an extranet.
Impact of the Internet on Technology in Marketing
They are transforming the web into a marketing tool. The most basic is the browser, which gives the Internet visitor the application program they need to view and interact with sites.
One of the Internet features is the ease of access to more complete and timely information. It is certainly that the ability to make comparisons on the Internet forces online companies to be aware and sensitive to the offers and prices that other sellers offer on the net. Customers can now gather information from online comparisons and leverage it in negotiations with traditional vendors.
One of the factors that the Internet has most impacted is the communication between buyers. Marketers recognize that word-of-mouth advertising is a powerful force. It is seen as the objective evaluation of a third party that neither gains nor loses from the decision to buy. Of course, this publicity can be positive or negative. Thus, companies spend considerable effort promoting positive word-of-mouth advertising and counteracting unfavourable impressions that negative word-of-mouth advertising might lead to.
Internet Impact on Technology in Marketing Strategy.
The Internet has created many opportunities. New businesses were created to offer portals and servers to increase access to the network. Like Amazon and eBay, other companies use technology to serve customers in new ways. In addition to creating new businesses, the web has changed the existing way of doing business. Companies at all distribution levels have built their websites to communicate with other companies and consumers and transact business.
The Internet has a substantial impact on business. Below we will explore some specific marketing strategy implications.
Like all good marketers, companies using the Internet want to segment their markets and focus on selected targets. Gathering data on data about visits and visitors to the online site is a valuable starting point.
There are other research techniques to identify segments that consist of collecting data by electronic observation of the site’s visitors. One method, called aggregation, tracks pages visited, time spent on each page, and items purchased while browsing the site.
The capabilities of the Internet allow marketers to rethink how they segment and target their markets. Rather than compete on price, service marketers are learning to use Internet technology to improve their products. For example, General Motors added an Internet link to its Onstar system, which combines a car phone with global positioning equipment to provide travel information and emergency assistance. The added feature allows the driver to listen to an individualized mix of news, personalized traffic reports and personal email messages.
Relationship in the Channels
The attraction of the network for manufacturers is to get closer to the final consumer. By selling online and cutting out intermediaries, manufacturers of commercial and consumer products decide what items to present, how to show them, and what service levels accompany them.
in short of the approaches taken by manufacturers to avoid disputes over the Internet and related channels are:
- Use a network only as a generator.
- Offer other products online.
- Involve intermediaries in online sales.
- Target a different market segment.
An essential attraction of selling online is the reduction of indirect expenses that often translate into lower prices. For retailers, inventory is reduced or eliminated because most orders can be ship directly from the manufacturer to the consumer.
A website with no visitors is a waste of money. Equally ineffective is a site without exemplary visitors. Part of the problem lies in the number of locations, and search engines can’t keep up with them.
The problem is attracting the right audience to the site. Several methods have been tried:
- Banners on other Internet sites: A flag is a promotional message in a box that usually appears at the top of an Internet page.
- Pop-ups and Pop-unders:This format creates a new browser window in front of the site the browser is viewing (pop-ups) or behind it (pop-under).
- Portal Agreements:For a fee, portals give a site a prominent place when a visitor undertakes a properly targeted search.
- Sponsorship:A publisher receives a permanent spot on the host site for a sponsorship fee.
- Select email:With this method, a company directs email messages to current or potential customers inviting them to visit the site.
- Promotions with affiliates:With this system, a company includes a link to related sites on its site, usually in exchange for a commission on sales produced by the agreement.
Issues and Opportunities in the Technology in Marketing Economy.
The Internet and the information economy pose significant challenges to marketers. Many of the traditional strategies have become obsolete, so today, the companies that find the means to overcome these obstacles are the ones that are likely to succeed in the long term.
Quality and Quantity of Information.
The Internet demonstrates how valuable information can be. Someone who plans to buy a computer and can buy prices from multiple vendors has an advantage in negotiations. Similarly, a component supplier to a manufacturer aware of its production schedule can reduce its inventory costs.
Another issue of information is quality, and there are very few regulations on the Internet and practically no standards. As a result, fraud is widespread.
In addition enchanted by Technology in Marketing and the ability to transact, some online sellers forget the importance of service. Pre-sale information, operating instructions, and post-sale troubleshooting often receive little attention.
Providing a service can be the biggest hurdle for businesses considering going online. Many of the most successful internet retailers have found that store and online access is the best to clarify.
Security and Privacy
It isn’t easy to create a climate of trust on the Internet. The difficulty comes from the novelty and intangibility of the network. With no store or employees to talk to in person, it’s no wonder customers are hesitant to give up personal or financial information.
Privacy concerns focus on how data about Internet surfers is collected and use. This data is contained in various ways. Many companies do this by using a cookie, a file placed on a visitor’s computer hard drive that automatically records when the person logs in, how often they visit a site, and how long each visit lasts.
International Technology in Marketing
For example, electronic commerce has no border. A customer in Taiwan can buy a Chicago-based company online just as easily as a Milwaukee company. The only physical restriction is delivery, which significantly simplifies parcel services. However, there are other issues to overcome as vendors expand globally.
Therefore the research and practice of digital marketing are improving with technology’s improvement. The advancement in technology fosters complicated chances and, at the same time, poses unprecedented challenges for marketers. Marketers use Digital Collection as a platform to promote a professional brand by defining the product in a manner that adds credibility. Research highlights that B2B buyers dislike cold emails and calls. Hence, Digital marketing allows enough provisions for finding the right people through its streamlined search engine and connections). In the present during,buyers expect knowledge that offers a potential solution to their product related problems. The sturdy visibility of the organization or the brand through digital marketing allows the consumers to develop perceived information about the brand. The spread of word of mouth and getting recommendations from their connections assist the users in making operational decisions about purchasing.