Perhaps the biggest way that advance in technology and increased internet access has influenced marketing is through customer input and interaction with companies and product manufacturers.
The internet has essentially given a voice to the consumer, as well as a great deal of information and choice about products that are sold today. Because of the increased emphasis on the customer’s wants and needs, marketing has been forced to adapt as well in order to accommodate changing goals.
The four Ps of marketing management are undergoing some serious changes, and place and promotion are also influenced by technology and the changing demands of customers as well.
Price comparison sites that help customers shop online and also those that provide referrals to businesses that are close by can also influence the place aspect of marketing as well.
What the customer wants needs to be close to where they are at, with the best price, and without any hassle. Often, this can put an added strain on businesses, as some cannot accommodate a larger inventory.
However, faster shipping and more affordable shipping rates, which are often paid by businesses as an incentive, are becoming a more common convenience for both consumers and businesses alike. If a business does not have the desired product in stock, they can often get it within a matter of days.
In addition, if a local supplier does not have what a customer needs, they can easily shop online with a company that does and can also have it within a number of days.
Methods of promotion within marketing are also changing. High pressure sales and obtrusive telemarketing calls are no longer acceptable to a number of consumers, and are often ineffective due to the fact that customers are more now more educated about products, prices, and competitors.
In addition, a large number of consumers have now become empowered as a result of all of the knowledge that is available to them and most will not hesitate to negotiate prices with dealers or salesmen, especially on larger ticket items.
Even in some retail stores, particularly those dealing with appliances and electronics, negotiating prices has become more and more commonplace and even accepted by a number of stores.
For many businesses, including larger chains stores, this practice can become another point of competition. If a customer wants flat screen tv x for a said price, and salesman x at big box electronics number one will not negotiate on price, the customer is often quick to either comparison price shop online or go to electronics big box store number two in order to get closer to the price that they want.
