Published by MBA Skool Team, Published on August 08, 2012
The start of the marketing arena in 1450 had never imagined that it would blossom into an amphitheater. It is a place where all the warriors are armed to take the world on a roll. Right from Gutenberg’s metal movable type (1450) to television advertisements (1941) and integrated marketing (2000), competition has grown in leaps and bounds and so has human imagination. The concept of tangibility and intangibility has lost its sheen. The push and pull concepts only exist as words. Human intelligence has overshadowed one and all. The inseparable weapon that has accompanied human is “Technology”.
Going by literal definition technology means” the making, usage, and knowledge of tools, machines, techniques, crafts, systems or methods of organization in order to solve a problem or perform a specific function” whereas the marketing terminologies states technology as a mode or a medium which helps marketer propagate his/her deliverables to the end user. The technology has been dynamic throughout right from television (advertisement) to internet (viral marketing).
The best outcome of bringing in technology has been innovation. With today’s rat race innovation stands as a mantra to success. The products in market have taken the audience by the storm. There are umpteen numbers of products lying in the markets to satisfy the needs and desire of the human race. The needs be it basic, latent or dreamt has been keeping the marketers on their toes. These needs have brought in a revolution.
“Technology is good for Marketing” is a myth though technology does offer lot of advantages but it has lot of downfalls to it. On outset the advantages of technology do bring in new customers, helps to automate follow up, helps in participating in online decision etc. On the other side the pitfalls include it to be expensive and it is difficult to deal with the brevity of time. The tradeoff between the pros and cons of this has to be weighed properly to take an appropriate step.
There have been wide spectrums of examples in the marketing domain that have been used so as to showcase the power of technology. Right from the heart throb of the nation, Kolaveri-Di (viral marketing) to goods sold on Flip kart (Online marketing). There have been many instances that have reflected the usage of technologies with respect to the marketing mix of the product. Though the decision made on this account is very dicey, marketers have gained good amount of success in their endeavors. Yes few of the products have faced the music but it has been a good learning for both the sides be it the seller be it the consumer.
To sum up,” Technology is a necessary evil. The usage and introduction of technology at the right time of marketing a product plays a pivotal role. For introduction phase of any of new entrant be it product or service, when direct marketing (personal touch) is of utmost importance, technology can play the spoil sport. Whereas with advent of time for maturity, that is to keep the product alive, technology is instrumental. It adds spice to a monotonous dead product and rejuvenates audience outlook to that product.
As technology matures there is hefty expenditure on research. This research does give a birth to new innovation. We address this as technological breakthrough. Marketers strongly believe in the above said. So they constantly put in their conscious efforts and thrive hard to bring in new ideas to market their product. They marshal their resources in such a fashion that they can reap good benefits. This also creates an atmosphere for healthy competition and the end customer gets a wide variety to choose from.
The basic definition and concepts of marketing haven’t changed for many decades. It has seamlessly transformed from yester years black and white to colored version. The road from door to door marketing to online marketing has covered a great length. The right blend of technology and innovation has been a strong pillar to this. In end I would like to say a quote that do suggest that technology will remain a driving force and innovation will rare up new horizons for marketers in the coming times
“There is no finishing line in the race of Excellence”
This article has been authored by Anuj Hans from NMIMS Bangalore.
Views expressed in the article are personal. The articles are for educational & academic purpose only, and have been uploaded by the MBA Skool Team.
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