The Explosive Growth in Marketing through Technology
Studies document that, there have been a paradigm shift in marketing due to advances in the information technology (Grewal & Levy, 2010). As argued by Grewal & Levy, the new breed of marketing in the 21st century has established the need to be efficient and resourceful to benchmark the concept of globalization. The fact that our culture and economic systems are networked as part of the global system, there has been a strong need to usher in efficient resources such as technology. In the 21st century, Information Technology has been an umbrella term to enhance effective communication. With innovation in IT, communication has played a vital role in improving all industries and businesses. This paper underlines the IT effectiveness in the marketing context.
It is a well-documented fact that, marketing plays a vital role in businesses (Grewal & Levy, 2008). There is no business in the world that can survive or perform effectively without marketing or advertising. With its importance in mind, any businesses have embraced the need to utilize information technology to advance in marketing. In the 21st century, technology ease communication making businesses and people to interact effectively. Technology has created a platform where businesses can market or advertise its products globally. The tremendous growth in the use of information technology has evoked how businesses market its goods and services. Businesses have used social media to create value and attain competitive goals. Consumers from all over the world can effectively access the products and services they want and need from various companies. With the help of the internet, companies can inform their clients about their goods and services and as a result, convert first time clients to frequent and potential clients. Typically, technology has not only given people a new approach of doing things, but has given people and businesses a new way or approach of thinking. The principal impact of technology is that it expands productivity, speed, and access. As businesses continue to utilize digital technologies, they are guaranteed of success and victory in their marketing strategies. This is because technology creates a platform for customers to obtain information easily through social media.
Despite the fact that there is an explosive growth in marketing through technology, there has been contentious issues on whether technology has negatively affected how businesses operate. In response to this, Grewal & Levy (2008) argue that although technology is useful in marketing, its complex systems and a fast pace can somehow be confusing. For instance, if companies want to update their systems they have to utilize best ways and systems to retain employees and consumers. Additionally, technology increases the high possibility of crime. Technology increases hacking where financial and personal data can be easily be disclosed. With this in mind, businesses are forced to spend more money and time to safeguard against hacking.
In my perspective, I believe that although technology is a useful tool in marketing it comes with much cost. Businesses are spending so much safeguarding their information so that other people cannot review their information. It is therefore with this concern that, information technology has become a hot topic in marketing. Many are wondering about how effective it is or has been in the 21st century in terms of marketing. Thus far, this paper has underlined the IT effectiveness in the marketing context.
Grewal, D., & Levy, M. (2010). Marketing. Boston: McGraw-Hill Irwin.
Grewal, D., & Levy, M. (2008). Marketing. Princeton, N.J: Recording for the Blind & Dyslexic
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