How do we address the impact of technology on the competitive and market landscape?

Technology can make fundamental changes in the way we do business, by creating new demand, new customers, new suppliers, new competitors, substituting other products while making some other products/ models obsolete; technological innovations can even lead to business transformation thereby impact business and competition

Impact of Technology on Marketing Communication helps businesses grow and prosper, creates relationships, strengthens the effectiveness of organizations, and allows people to learn about one another. Technologies, such as the Internet, mobile phones, social media, and customer relationship management systems greatly affect the way companies communicate with prospective customers. These new forms of communication are changing the media landscape and the type of messaging strategy organizations use. Many consumers and business professionals seek information and connect with other people and businesses from their computers and phones. With access to many sources of information and an interest in interactive media, consumers may collect more product information on their own. Work environments are also changing, with more people having virtual offices, texting on their cell phones, or communicating through social media sites such as Facebook, LinkedIn, Pinterest, and Twitter. As the media landscape changes, the money that organizations spend on different types of communication will change as well. Once companies have developed products and services, they must communicate the values and benefits of the offerings to current and potential customers. Integrated marketing communications (IMC) provide an approach designed to deliver one consistent message to buyers through an organization's promotions that may span all different types of media - such as TV, radio, magazines, the Internet, mobile phones, and social media. Delivering consistent information about a brand or an organization helps establish it in the minds of consumers and potential customers across target markets. With IMC, organizations can coordinate their messages to build the brand and develop strong customer relationships while also helping customers satisfy their needs. Young people today are part of the millennial generation, and it is consumers from this generation who are driving the change toward new communication technologies. A young consumer might opt to get promotions via mobile marketing - say, from stores on your cell phone as you walk by them or via a mobile gaming device that allows you to connect to the Web. Likewise, advertisements on Facebook are popular as businesses continue to utilize more social media. Traditional media (magazines, newspapers, television) compete with media such as the Internet, texting, mobile phones, social media, user-generated content such as blogs, and YouTube as well as out-of-home advertising such as billboards and movable promotions. Therefore, all forms of marketing media have been forced to come up with new innovations to remain relevant. Marketing Media This chart depicts an example of the mix of marketing techniques a company can utilize to promote its products or services. Challenges of Technological Complexities With high consumer expectations and an explosion in engagement devices and channels, marketers today are faced with a sprawling matrix of disconnected figures to make sense of. Some tools today provide a more consolidated view of figures, but still, 71% of Chief Marketing Officers (CMOs) feel unprepared for the data explosion they face. There are two possible camps in modern marketing: those who "get it" and have intricate systems in place to measure and act on the intelligence provided by multi-channel metrics, and those who view metrics as a check-box item on their list of requirements – something they know they need but don't know how to leverage effectively. Collecting metrics today means going beyond tracking the transaction and business objectives. In order to leverage metrics strategically to create loyal and engaged clients, businesses need to look at creating consolidated, personal views of their customers that span channels. They need metrics that can come together to help paint a picture of the end-to-end client relationship and show how to better target messaging to drive engagement. Marketers need to find a way to break down the silos and connect the data sources. Only then can they get a complete view of client interaction and transactions and leverage this data to build strong relationships.

I agree answer colleagues

 

Thank you for the invitation

In this dynamic world if you do not embrace technology positively you will be left stranded. There are great examples in the market place  where companies have failed because there reluctance to move into new technology.

This could be addressed by technology directed toward the goal, to be certain our creativity and excellence and not competition and disharmony.

it is a positive impact , but we have to be prepared to understand it and use the way it should be , other wise and due to abusing it can be problem , it is making our job easy but at the same time risks can be there

Technology has a major impact in the areas of speed and efficiency. We all see now, machines that can cut metal into shapes in a matter of seconds instead of having a worker who might not be as accurate. 

If we want to adapt of technology for the benefit of the market, we must commit ourselves to Altctuloggio laws so as to avoid loss

Technological advances in recent years have been rapid, and have affected almost all areas of life.  Whole new industries have appeared:  for example, Satelite TV stations,cable networks,the internet, CD recordings and virtual reality, and computer-aided design systems.  All of these industries were unknown even twenty years ago.  It seems likely that technological change will continue to increase, and that more new industries will appear in future.  the corollary, ofcourse,is that some old industries will disappear, or at the very least will face competition from entirely unexpected directions.  Identifying these trends in advance is extremely difficult, but not impossible.

The macro-environment also contains the remainder of the organisation's publics viz government publics are the local, national and international agencies that restrict the company's activities by passing legislation, setting interest rates, and fixing exchange rates.  Governmental publics can be influenced by lobbying and by trade associations.

 

Media publics like the Press, television, and radio services carry news, features and advertising that can aid the firm's marketing, or conversely can damage a firms reputation.  Public relations departments go to great lengths to ensure that positive images of the firm are conveyed to (and by) the media publics.  For example a company might issue a press relaease to publicise its sponsorship of a major sporting event.  this could generate positive responses from the public, and a positive image of the company when the sporting event is broadcast.

Citizen action publics are the pressure groups such as Greenpeace or consumer right groups who lobby manufacturers and others in order to improve life for the public at large.  Some pressure groups are informally organised; recent years have seen an upsurge in local pressure groups and protesters.

During the late 1990s and the first years of the 21st century, marketing thinking hs been undergoing some radical changes.  Much marketing thinking in the past has concentrated on the single transaction between producer and customer, on the assumoption that customers who like the product will continue to buy, and that no one else has any right to an input into the exchange.  This approach while laudable,ignores the fact that some customers are mor valuable than others , that some customers can become very loyal indeed, and that marketers should also take into consideration the needs and attitudes of ohter stakeholders in society at large.

At the same time, new communications media (the internet, cellular telephone, short message systems(texting) and so forthe) have made previous marketing communication strategies almost obsolete.  Falling birthrates and increased competition through glaobalisation have meant that consumers are fewer and more firms are chasing them; at the same time rapidly rising prosperity levels mean that the rewards fro firms which get it right are much greater than ever before.

The relationships with customers are important for companies in the long-term relationship.  that is selling 'products that don't come back to customers that do'.  It is about ensuring that the marketing-orientated firm is sustainable in the long run, both in terms of use of finite resources and also in terms of ethical behaviour towards the society at large.  Successful exploitationof new technology is finally making a breakthrough in a rapidly changing world. 

In our today's world is everything changed sharply and continuously as per the Technological Advance which changed our measures and criteria. Therefore, All are to be updating with market orientations and technological development. 

Most of Equipment in the electrical and electronic sector is dramatically changed rapidly and No, chance now to marketing the previous one. Presently, we are unable to dress or treat such  impact of technology on the competitive and market landscape. The optimal solution that all of us to be updating in the information and treatment and monitoring as Most International companies are presently in high competition to present the new technology to compete other players in the market.

I think  that anyone can not submit  a new product and system to be qualified competitor and consistent with this technological advance he will be out of the market landscape.

Agree on experts answers. Thanks for your invitation.