The effect of technology on marketing management, and product and price


Many marketing managers are already aware of the four Ps and how pleasing customers has become a major priority in the market today. The increase in technology, however, the approval of the customer is more important than ever, and all aspects of the business are rapidly rising in line with the expectations of different consumers today. The Internet has offered consumers the ability to not only give the number of products, but also easily provide their own reviews, opinions and input of the most popular products.

The effect of this production is that today’s products are tested and designed to be the highest quality and also meet many customer needs. In terms of marketing management, it means being able to listen to customers and not only what they like and dislike and what their needs are and how they can be met. One good example of how companies have adapted to customers can be seen in the auto industry. Vehicles today come standard with such things as mp3 player, navigation system, Bluetooth capability, and even improved cup holders and grocery bag hooks. Also, cars are now equipped with more added security features than ever.

With increased access to information on a variety of different products today’s consumers more educated than ever before, demanding products that are made from the safest materials and production methods that are safer for the environment. Increasing consumer demands for hybrid cars and cleaner fuel alternatives has also called for more regulation, incentives for vehicles that benefit the environment, and also increase public funds for research on other fuels.

fuel and the price of gas in today’s economy is also another factor that has a major impact on the auto industry, and a number of other industries as well. But sales of large SUVs and trucks are falling, more people are interested in the smaller, compact cars that offer better fuel efficiency. Another benefit that technology has offered auto dealers and consumers alike is Price Comparison Shopping and references. Now, when a customer is looking for a new car, they can go online, research certain models, compare prices, and easy to get a referral to a local dealership that offers the best price. For dealers, this has led to increased competitiveness and greater savings, as well as no haggle pricing on the part of some companies.

With more and more people turn to the Internet not only for shopping, but also to do product research before buying, price comparison is becoming increasingly important. In fact, in a recent survey, it was determined that 58 percent of online shoppers found that all ecommerce sites should offer a price comparison service that enabled them to make the best choice on the site. Marketing management is changing faster than ever, and customer input and approval is valued much more today than ever before.