Technology's Impact on Marketing and Marketers Video

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  • 0:05 What Is Technology?
  • 1:41 Product Enhancement
  • 3:28 Informing Consumers
  • 4:54 Lesson Summary
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Lesson Transcript
Instructor: LaSheena McAfee
How does technology impact marketing and marketers? In this lesson, you will gain a better understanding of technology, marketing and marketers and of how each one impacts the other.

What Is Technology?

Technology is defined as inventions or innovations from applied science or engineering research. We use some form of technology daily. From our alarm clocks that wake us to televisions that allow us to watch our favorite shows, we benefit from technology because it makes almost everything we do possible.

Factors marketers must consider when planning a marketing strategy.
Marketing Planning Factors

Technology evolves at an extremely rapid rate. Can you believe there was no iPhone just seven years ago? When you see an advertisement promoting the latest laptop with dancers and fancy colors, obviously the goal of the advertisement is to make you want to purchase the laptop. This advertisement is a form of marketing. Marketing is defined as the process of planning and executing the development, pricing, promotion and distribution of goods and services to achieve organizational goals.

For example, the planning involved in coordinating the ideas, venue, models and product to promote in a commercial is an example of marketing. In marketing, marketers are vital. Marketers are the individuals involved in developing and executing marketing tactics that will influence consumers to purchase a product or service. The individuals organizing the commercial are marketers. Marketing tactics are detailed day-to-day operational decisions essential to the overall success of marketing strategies. Technology impacts marketing and marketers in several ways, but there are two general ways technology impacts marketing: product enhancement and informing consumers.

Product Enhancement

An enhancement of a product is any change or upgrade that increases software or hardware capabilities beyond original client specifications. Enhancements allow software and hardware to have product performance scalability. Product enhancements usually include:

  • Additional functionality
  • Error/bug repair and handling
  • Greater processing speed

These enhancements can be an example of any upgrade to a gadget we use every day, like tablets. When was the last time you upgraded your mobile phone? According to TechnologyDigital.com, consumers update their smartphones every 18-20 months. Marketers know consumers want the latest in technology. The consumer's desire for the latest in technology could range anywhere from the need to feel accepted or the need to be more efficient. For example, a smartphone advertisement targeting a person who works in corporate America would look different from a smartphone advertisement targeting a college student. The ad for a corporate America person would focus primarily on how the features of the phone would make you more efficient. The ad for a college student would focus more on features that are fun, such as the camera quality.

Companies market certain product features to different consumers based on their needs.
Phone Marketing Techniques

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