In the late 18th century, the Industrial Revolution marked an era in human civilization where there was a tremendous shift in the ways that people worked, what was produced and how. Manual-based labor was replaced by machinery and industries that could manufacture products at exponential rates than they could have been made before. The impact of this change was enormous on societies not only in Western Europe and North America, but all over the world.
These contemporary times are marked by the Digital Revolution, another key movement that changes the workings of entire societies. The Digital Revolution refers to the present time and the global economy’s shift in focus away from the production of physical goods and towards the manipulation of information. Today, information is the largest commodity and who has access to it has become one of the most important factors in economic success. The Digital Revolution includes the markets of information technology or products that are a means of accessing information such as computers and the components it utilizes both hardware and software, modems to access information, servers and satellites. Cellular phones have connected people in a way never conceived of in the past and satellite-based information such as global positioning systems (GPS) networks and digital television have certainly changed the lifestyles of the average person today. The Internet has become the largest source of information and is the ultimate medium to accelerate the flow of relevant information and is the fastest growing form of media. As such, it is important to consider the implications that the Digital Revolution and the widespread use of the Internet has made on the marketing industry.
Marketing relies on current tools and innovations to discern consumer trends in need for certain products. With the task of creating consumer awareness for a product or service and being able to manipulate those consumers to move toward those products, marketing demands the most current information to analyze their demographic base and consumer desires. These need to constantly be current in order for a business to prosper over a long period of time. Market research to anticipate a consumer’s future needs and wants affects the advertising, distribution and selling trends that a business conducts. In the wake of the Digital Revolution, marketing has benefited from greater customization of products, services, and promotional messages than other marketing tools previously available. In the 4 P’s of the Marketing Mix, the Digital Revolution has had significant impact, changing everything from the very products sold to the promotion and strategic placing of those products.
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