How has technology changed and influenced marketing???

Question

How has technology changed and influenced marketing???

Answer 1

I would add to Adam's thoughts by saying that another major influence that technology has had in the world of marketing is in the area of TARGETING.

Technology has enabled marketers to better utilize market research, create customer databases, and incorporate other  types of information to better reach their customers.This enables marketers to send customized messages and offerings to carefully selected target audiences.

In the old days, marketers had little choice but to deliver a universal message to a mass audience in the hope that it might reach a few customers. (This was called the "shotgun approach.") But today, marketers are able to reach very select audiences based on customer demographics and psychographic profiles. (This is also known as using a "sniper's rifle.") As a result, marketers are wasting less money promoting their products to the wrong customers.

Have you ever used a frequent shopper card at your local grocery store? Every time you swipe your card or punch in your phone number, you are feeding information into a customer database that defines you by your purchasing habits. The store knows how often you shop each week, the most popular items in your grocery cart, the size of your average purchase, and more. So, the guy buying Cheese Whiz and Budweiser ends up fitting a completely different customer profile than the shopper who buys imported cheese and fine wine. The store can use this information to provide you messages they know will be of particular interest to you, or they can sell your customer profile information to other marketers. So, for example, if a producer of high end luxury food products wanted to reach high end customers who shop at Safeway, they could do exactly that.

Also, going back just a bit further... another example of how technology has impacted the world of marketing is in the area of Cable Television. Cable television has created a very fragmented viewing audience. In the old days, there were basically three networks: ABC, CBS and NBC. Now there are hundreds, each of which caters to very select audiences. This also allows television advertisers to reach more highly targeted audiences. The guy who spends all day watch Spike TV is most likely very different that the person who watched the Food Network.

Another example of the impact of technology in the field of marketing.