Business Studies

Review “Technology and Consumer Behavior” from the topic Resources. Think about how the business environment has changed because of the digital revolution. Describe two examples of specific changes marketers have experienced as a direct result of the digital revolution. Provide illustrative examples to support your ideas. In replies to peers, provide additional examples of related to those posted by peers

ANSWER

Technology and Consumer Behavior

The innovation of technology has significantly impacted consumer behavior, which in return has affected the production, distribution, and consumption of goods and services. With the introduction of smartphones, consumers are well equipped with the means of looking for products online, ask relevant questions, and purchase them without moving. E-commerce has been the most impactful trend in the digital world, bridging products and consumers regardless of their geographical locations (Ferreira et al., 2021). Marketers are constantly trying to keep up with such technological advancements and are coming up with new ideas to reach their target markets. For instance, companies have resorted to using social media to advertise their products and services, as the current generation greatly relies on these platforms for information. For instance, Nike uses various social media platforms like Facebook, Instagram, and Twitter to promote their products. Through these platforms, they can bridge the gap between their products and consumers and creates a lifestyle and a sense of community among their fans. The current generation thrives in the idea of belonging, and Nike uses these technological platforms to increase their sales and revenues.

Another consumer behavior impacted by technology is that consumers have a developed a sense of higher expectations (Ferreira et al., 2021). With the influence of technology, consumers can differentiate different service providers from their competitors. Current consumers expect an interactive service provider who are ready to answer any questions and address their concerns quickly and with the touch of a button. For instance, consumers can differentiate between Netflix and Amazon and choose the more responsive cable that offers interactive communication channels. Marketers are constantly trying to develop the means of remaining relevant and offering services that suit their consumers. For instance, unlike traditional businesses that were only accessible for certain specific hours a day, current marketers are available 24/7 through social media platforms and customer services hotlines.

References

Ferreira, J. J., Fernandes, C. I., Rammal, H. G., & Veiga, P. M. (2021). Wearable technology and consumer interaction: A systematic review and research agenda. Computers in Human Behavior, 106710.