Marketing management can also note the importance of technology, within the scope of its marketing efforts. The utilisation of technology can span the following points:
[edit] Enhanced marketing research practices
Computer-based information systems can be employed, aiding in a better processing and storage of data. Marketing researchers can use such systems to devise better methods of converting data into information, and for the creation of enhanced data gathering methods.
[edit] Support for a firm’s MKIS (Marketing Information System)
The four elements of a firm’s MKIS can be further developed via technology. Information technology can aid in improving an MKIS’ software and hardware components, to improve a company’s marketing decision-making process.
[edit] A greater demand for technologically developed products
In recent years, the netbook personal computer has gained significant market share among laptops, largely due to its more user-friendly size and portability. Information technology typically progress at a fast rate, leading to marketing managers being cognizant of the latest technological developments. Moreover, the launch of smartphones into the cellphone market is commonly derived from a demand among consumers for more technologically advanced products. A firm can lose out to competitors, should it refrain from noting the latest technological occurrences in its industry.
[edit] The global nature of technology
Technological advancements can facilitate lesser barriers between countries and regions. Via using the World Wide Web, firms can quickly dispatch information from one country to another, without much restriction. Prior to the mass usage of the Internet, such transfers of information would have taken longer to send, especially if via snail mail, telex, etc.
