Impact Of Technology On Marketing And Advertising Methods

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Technology has had an immense impact on marketing and advertising methods. “One hundred years ago, advertising was largely limited to newspapers and billboards. Today, advertising and marketing dominate the human environment.”(Jagg Xaxx, Demand Media, 2013). A consumer is the foremost important user of a product or service. “The overall consumer market consists of all buyers of goods and services for personal or family use, more than 270 million people (including children) spending trillions of dollars in the United States as of the late 1990s.” (Frank, Thomas 2003). The concept of marketing developed during the industrial revolution of the 18th and 19th centuries. From the 1960’s onwards marketers noticed the demand for products and how…show more content…
In todays FC5032 Skills For Study 3 42059 modern and highly evolved technological market, there are many factors that directly affects a business relation to its consumers.Typical areas for consideration are Allocation of Resources, Consumerism, Technology and Risk.Allocation of Resources refers to the management of resources in line with production, distribution, exchange and consumption.Consumerism refers to the protection of the rights of consumers in the buying and spending industry.Technology has grown to great proportions in todays society, with numerous different applications of information in the design, production and utilisation of goods available to consumers.Risk factors refers to the forecast and evaluation of financial risk, operational risk or any threat, damage or negative occurrence caused by internal or external factors. However it has been argued that technology has proven to be a strategic strategy for analysing consumer choice, there are many risks involved. According to research done by Tyler Lacoma in 2014, he stated “Technology also increases the possibility of crime. A tech-savvy employee can embezzle funds and make it difficult for the company to trace. Hackers
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