Home Research Papers· the face of competition. Technological change is most

· the face of competition. Technological change is most

·        
Technological
forces

The
only thing permanent about technology is change. With advances in technology
increasing at an unstoppable rate, keeping up-to-date with changes could help the
organization develop a market advantage in the face of competition.
Technological change is most evident in how we communicate, with smartphones
and computers becoming commonplace. Rapid development of information technology
and internet is playing a vital role in the technical change. As a business
owner, one should look at ways to constrain technological potential to identify
and service.

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Consumer
demand, buyer behavior, packaging, promotion is all impacted by technology.
Many organizations lose their status in the market because they fail to adapt
to the technological changes in the environment. The marketer should make
develop the already done inventions in the technology and should adapt to the
new technology whenever needed just to stay in the market and to beat the
competitors.

Evolution
of smartphones and the services available with them is an example of the
technological change where the phone and services are provided together now at
the same place at cheaper price

 

 

 

·        
Sociocultural
forces

Sociocultural
attitudes and profiles are constantly changing with time. Developing a
demographic profile of your consumer base will help you understand what makes
them happy. Sociocultural forces are the influences in a society and its
culture that result in changes in attitudes, norms and lifestyles. Keeping
record of issues such as gender bias, ethnic origin and religion, as well as
being conscious of social norms and lifestyle expectations, can help you with
your marketing strategy. Organizations are also directly affected by the
changes in population because the structure of population determines the demand
and supply of goods and services.

Pepsi
is a non-alcoholic beverage, so it had to maintain sharp differences in
cultures around the world. So, they implemented the marketing strategy of
advertisements based on cultures and indulge in festivals.

 

 

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