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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
I agree answer colleagues
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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.
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.
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.