Impact Of Marketing On The Business Industry

1306 Words6 Pages
The world has seen major changes throughout the years that is having a major impact on marketing. The increase in travel and globalization has affected the way companies market products to consumers because they are no longer dealing with a homogenous population. Furthermore, advances in technology have changed the way companies interact with consumers. Traditionally, companies would place ads on television, newspapers and the radio, but now there are increased ways that companies can reach consumers. Even though in the short-term this present challenges because companies must be nimble enough to adapt to these changes, in the long-term opportunities exist. First, smaller companies can now compete with larger companies because costly traditional marketing is being replaced by affordable Internet marketing, which is leveling the operating environment. Secondly, since all regardless of geographic region utilizes the Internet, alternate revenue streams are available allowing for diversification of product offering lowering risk. Lastly, companies that are able to seize the opportunities as they present themselves have an opportunity to develop a competitive advantage over competition. The purpose of this research paper is to discuss how Globalization, Web 3.0, Information Technology and Emerging Markets will shape the future of global marketing. Globalization: The world has never appeared to be so small. This is a true statement because information technology and data have
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