How Does Technology Affect Marketing?
Technology makes marketing faster and more efficient by enabling companies to promote products and broadcast messages to larger audiences in shorter periods of time. Technology transcends traditional barriers to businesses and markets such as geographical location and physical presence. Companies once relied on friends, communities and neighbors to purchase products and promote business, but technologies such as computers, phones and mobile electronic devices perform the same duties in shorter periods of time.
Technology facilitates marketing efforts for small and large companies alike that reside domestically or have an international presence. Information technology (IT) enables corporations to market their goods and services globally, often in just a fraction of the time it takes to promote products via word of mouth. Key technologies in this area include the Internet, email, mailing lists and social media. The Internet is a globally interconnected computer network that provides marketers and marketing departments with a fast and cost-effective method of conducting business and completing sales transactions. With the Internet, the marketing activities of companies can be tracked and researched, allowing departments to analyze trends and make nearly instantaneous improvements to productivity. With email, companies can send mass messages to consumers, promoting products and advertising special events such as sales. Email reaches more consumers in a shorter period of time than traditional mail, making it an attractive option for promoting business growth.