Marketing and Markets in a Digital World

This report explores the influence of current technological issues on marketing and markets in the digital age. It discusses the benefits of digital marketing, such as global reach and low costs, as well as the challenges, including data security and online privacy. The report focuses on the case of Facebook as an example of a company using digital marketing effectively. It also highlights the importance of technology in marketing and the impact of technology on business and interpersonal communication. Overall, the report emphasizes the need for organizations to adapt to the digital age and effectively utilize technology in their marketing strategies.

Marketing and Markets
in a Digital World

Contents
INTRODUCTION.....................................................................................................................................3
MAIN REPORT........................................................................................................................................3
CONCLUSION..........................................................................................................................................9
REFLECTION.........................................................................................................................................10
REFERENCES........................................................................................................................................12

INTRODUCTION
Companies these days, are increasingly focused on marketing their products as well as
services online. It can be said that digital marketing has become the new form of marketing
because it enables organizations to reach wider segments of customers (Armstrong and et. al.,
2018). There are many benefits of marketing in the digital world like the overall conversion rates
of the company improve and also, it is very cost effective as compared to traditional marketing.
Organization chosen for this report is Facebook, which is an American social media company
based in California. This report explains how marketing and markets in the digital age are
influenced by current technological issues.
MAIN REPORT
Marketing is among the important components within an organization and helps it in
achieving its goals and objectives. Marketing involves various activities like promoting,
advertising, market research, identifying and satisfying the needs of customers. With the increase
in digitization, companies are increasingly adopting various digital measures in order to promote
their products and reach out to a larger customer base. This further leads to an increase in the
overall profitability as well as revenues of the firm. Facebook is a widely known social media
giant that is nearly recognized by everyone cross the world. There are a lot of technological tools
and techniques that are available today in order to market and promote the products. There are
many benefits of marketing in the digital age which includes global reach, low costs,
personalization, measurable results etc. This is because if an organization has an online website,
it provides an access to new markets and therefore, trade globally (Bala and Verma, 2018). Also,
if an online marketing campaign is planned effectively, it can reach the right customers and that
too at very low costs as compared to traditional methods. This can significantly contribute to the
overall profits and revenues of the firm.
Marketing in the digital age has provides an equal access to opportunities for various
businesses. This is because even small and medium businesses today can effectively use different
digital platforms in order to market and advertise their products. It is also more-cost-effective as
compared to traditional ways that involve a lot of time as well as money. With digital marketing,
businesses can easily measure their overall conversion rates as well as sales (Why Digital

Marketing is Important to Grow E-Businesses, 2020). Technology has served to be very
beneficial for the firms and helped them in carrying out their business operation smoothly and in
an effective manner. This is because it has made the customers more connected with the brands
and the marketers of the different brands can also address the concerns as well as feedbacks of
the customers in an enhanced manner. There are different technological issues that have
influenced marketing and markets in the digital age significantly (Bilton, 2017). One of the
reasons behind this is that people today have an access to high speed internet and smartphones.
This helps the brands in having real time conversations with their customers and adopt various
marketing techniques based on their needs and preferences.
The different technological issues can include making a marketing campaign
personalized as per the needs and preferences of customers. Although, there are a lot of benefits
that technology has for marketing, there are still many technological issues that can influence
marketing and markets in the digital age. One of the major technological issues is data security
which includes the different concerns that are posed due to advancements in technology and the
way in which customers use the same. Since companies today have an access to large amounts of
customer data, the chances of it getting hacked or being used in an illegal manner are also high
(10 Technology Challenges, 2020). This has also led to creating an influence on the marketing
process of different organizations because the marketers can find it difficult to design campaigns
or even products that are based on the needs as well as preferences of customers. Online privacy
is another technological issue that can influence marketing as well as markets. This is because
with the use of technology within businesses rising, it has equally become important for
organizations to protect the data of their customers private and confidential. For example,
Facebook keeps the data of its customers private so that any kind of misuse of the same can be
avoided.
It has become crucial for organizations to implement technology in their system because
it helps in carrying out the overall process of marketing effectively (Chaffey and Smith, 2017).
Marketers can carefully analyze and understand the needs of customers and also monitor their
buying behavior closely. Not only the company, but consumers are also affected by the
implementation of technology in the system. This is because companies are able to target more
customers through advertisements as compared to the number of people targeted through

traditional marketing methods. Social media is one of the most influential marketing tools that
has many benefits attached to it but at the same time, it also comes along with various issues. To
be recognized and succeed in marketing through social media is not only about posting as much
as possible. Rather, it is important to keep in mind that only relevant information should be
posted in the form of posts. Implementation of latest technological soft wares can include a lot of
cost as well as time. Therefore, companies should have a large budget in order to implement the
same and enhance their overall process of marketing. Apart from this, the technological systems
have to be maintained regularly in order to ensure that they do not become outdated.
Customers today, especially the millennials want to stay connected with their favorite
brands and it is not just about purchasing the product or ordering it online (Chaffey, 2019). Apart
from this, marketing of new or existing products cannot be carried out effectively in the absence
of technology. But marketers, at all times should be aware that competitors can create something
similar and offer the same to the customers. There can be cases wherein competition can use
technology to gain a competitive advantage against others. Another technological issue that can
affect the overall marketing processes within a company is cyber security. Security of important
data or information should be one of the priorities the marketers within a company. This is
because it can otherwise lead to the information being used in a wrong sense. Apart from this,
technology can have a negative influence on business as well as interpersonal communication
between the employees. This is because there will not be any kind of verbal interaction among
the employees as everything will be done digitally. This means that all the business activities will
be completely dependent on technology. Also, technological issues can also create a lack of
certainty and can make it difficult to understand the currents market trends.
In the digital age, the way in which marketing of products and services in done in
organizations has also changed. Digital marketing has helped businesses in engaging with their
customers, clients as well as shareholders in an effective manner (Crawford, Brennan and Parker,
2017). This has also been beneficial because people today use various kinds of social media apps
in order to stay connected with the different brands. If a new technology is implemented within
the workplace, the employees are required to be retrained so that they can get used to using the
technology in an effective manner. But providing training to the employees again, means that the
organizations will have to invest a lot of money as well as time. Hacking and data breach are also

some examples of technological issues that can affect the marketing within a company. Also, if
the technology is not implemented in an effective manner, it can prove out to provide a poor
media experience to the customers. This is because customers expect a quick response for their
concerns. This can be a result of a lack of effective collaboration among the different
departments within the company because if they will not function collaboratively, this will show
in how they interact and satisfy the needs of customers.
Marketing in the digital age cannot be carried out only by an individual because it is a
wide field and can also be done effectively with the help of a team. Many technologies involve
different ways of doing different things in an innovative and effective manner (de Ruyter,
Keeling and Ngo, 2018). This can mean that the employees will have to be trained again and
therefore more money will be involved. Although, technology might help the company in
carrying out its marketing processes effectively, there can still be a case wherein competitors can
come up with a better technology which can affect the overall performance or marketing strategy
of the company. Businesses today have reached to a point where it is very difficult to imagine
operating a business without technology. While there are many technological tools and
techniques that have proved to be most effective for the company, various social media platforms
have proved to be distractions for the customers as well as marketers. Although technology can
help in organizing the information in the desired manner, it can also have a negative influence on
the different marketing activities. This is because the marketers require information that is not
only well organized, but also familiar with the activities that have been done by it previously.
In order to market a product for the customers in the market, a large amount of customer
data is required that can be used to develop effective strategies and plans. Collection of data
regarding the needs and preferences of customers through digital ways can help marketers within
a company to target advertising accordingly. But this can raise privacy concerns for the
customers and thus the marketing strategy might have to be altered accordingly. Previous,
marketing used to be conducted through different traditional ways in which employees of the
company were also equally involved. But today, technology has replaced the tasks that were
initially carried out by the marketers (Gillpatrick, 2019). This can introduce new issues like
people might lose their jobs or become insecure about the same. Also, poor implementation of
technology can cause the customers to not understand the message that the company is trying to

communicate. Apart from this, technology has made it difficult for a person to disengage
themselves from technology. Miscommunication is another technological issue that has
influences the process of marketing in the digital age. This is because if an advertisement or post
that is uploaded across different social media platforms is not drafted clearly, it can lead to
creating miscommunication among the audience (The Positive and Negative Impact of
Technology on Business, 2020). This is also because each person as their own perspective.
Marketing and markets in the digital age have changed a lot both in a positive as well as
negative manner. Technology keeps on evolving and advancing because companies keep
releasing new products and services that have better features. Technology can make it difficult to
find the most appropriate candidates for the company who are qualified and possess the desired
skills. Technology can pose various issues and that organizations will not be able to carry out
effective marketing processes (Keeley and Little, 2017). New security threats, data protection as
well as a gap in skills can also be an issue that can not only affect the overall sales but also the
number of customers shopping for its products. It should be made sure that there is no skills gap
because if this is the case, the employees in the marketing department will not be able to develop
effective marketing strategies and implement the same. Also, marketing in digital age is all about
innovation and digital transformation. This is because if the marketing of a products is
innovative and creatively done, the customers will be more attracted towards it. This will lead to
an increase in the overall profitability as well as sales of the company.
There are many companies that outsource their products to different locations which can
lead to creating a risk for them. If an organization decides to outsource its products, it requires an
implementation of effective technologies so that the when the products are shipped, they can be
tracked. And if no technology is implemented within the process will not be able to take place
effectively. Current technological issues can influence the marketing of the organization because
marketing is considered to be an important component within an organization that helps in
attracting customers and also significantly contribute to the overall profits as well. This leads to
creating trust among customers as their needs and requirements are satisfied (Kingsnorth, 2019).
Marketing is a very vast field and requires people who are experts and have experience in the
field. But sometimes companies fail to find the right talented people who are qualified and have
relevant experience. Online reviews and ratings about the products are other technological issues

that can significantly impact the overall marketing process because customers today, possess the
power and can post negative comment about the same. Therefore, it is important for companies
to develop marketing strategies that can help in creating a positive brand image in the market.
Technological issues can also be related to artificial intelligence because many
companies are implementing it in order to conduct their marketing activities efficiently. Other
than motivating force proposal, AI likewise assists advertisers with taking care of business their
item suggestion methodology. Nowadays, purchasers respond to brands that solution to their
inclinations and convey in like manner (Lanzolla and Giudici, 2017). It's practically like anybody
needing to coordinate a shoe with another dress bought to wear at a gathering. With AI and
Machine Learning, advertisers would now be able to rely upon working with calculations to help
change client commitment information to reasonable item proposals—something that will
change over without a doubt. By nagging standards of conduct and fondness of a purchaser
towards a particular line of items, advertisers can remain refreshed on the individual inclination
of a customer to auto-populate the correct arrangement of suggestions consistently.
Unquestionably, promoting groups today work under a ton of weight. They are genuinely in a
hurry while being pushed to demonstrate how substance and battles are paying off. Accordingly,
they are given a range of decisions from innovation-based answers for subject based battles to
delineate how they would go ahead portioning databases.
The information organizations remain to pick up by utilizing AI appears to have no
limits. In social insurance, clinical experts are applying it to dissect quiet information, clarify lab
results, and bolster occupied doctors. In the security business, AI assists firms with identifying
potential dangers like vindictive programming continuously. Advertisers, in the interim, can
utilize AI to blend information and recognize key crowd and execution bits of knowledge, along
these lines letting loose them to be progressively vital and inventive with their battles (Lopez-
Gonzalez, Stavros and Smith, 2017). By helping advertisers gather information, distinguish new
client fragments, and make an increasingly brought together showcasing and examination
framework, AI can scale client personalization and exactness in manners that didn't exist
previously. Associating client information from sources like sites and online life empowers
organizations to make showcasing messages that are progressively pertinent to buyers' present
needs.

CONCLUSION
From the above report, it can be concluded that there are various technological trends that
will affect the marketing as well as markets in the near future. The first trend that is likely to
affect marketing in the future is an increased complexity in the buying decisions of customers.
This is because customers today have an access to different media which they can use to make
purchase decisions. This can include Facebook, YouTube and Instagram. This has made the
overall process of segmentation difficult for the marketers. Apart from this, personalization is
another trend that can act as a major factor which will affect the way in which companies carry
out marketing. Due to this, many companies have started offering products and services that are
personalized as per the preferences and needs of customers.
Personalization of products is done through social media, big data and manufacturing the
products flexibly (Lynch, 2017). These factors have made the marketers learn the concept of
customization and this trend is increasing day by day. Also, it is expected to grow even bigger in
the near future due to which marketers are becoming aware of. Apart from this communication
through mobile is also growing and is expected to become a trend that will affect markets and
marketing. This is because people today have access to a high-speed internet as well as
smartphones which they can use to connect with the brand through various social media
platforms. Organizations are increasingly following the trend of maintaining transparency with
their customers. This is done by updating them about all the important information about the
offers, new product launch, discounts etc.
Through machine learning, companies are learning more about their customers’ needs,
preferences as well as their buying behaviors. This will help them in targeting the right
customers and communicating with them in the most effective manner. It is also predicted that in
the future, more relevant and accurate metrics will still continue to emerge. There are various in
which an organization can measure the effectiveness of its online activity (Magistretti, Dell’Era
and Petruzzelli, 2019). The measures can include Facebook or Instagram likes, views, shares etc.
Apart from this, artificial intelligence as well as machine learning are among the top trends that
will affect the process of marketing the future. This is because they will enable more correct as
well as real-time analytics and help the companies in improving the overall experience for their
customers.

Both AI and machine learning are beneficial for marketing because they help the
marketers in getting useful insights about the customers and what are the products that they
prefer shopping. Virtual reality is another trend that is all set to making a big impact on the
marketing process. It promotes brand loyalty among customers by allowing them to get engaged
as virtual reality offers interactive and personal experience to the customers (Marketing in 2025:
Five key trends that will drive the future, 2020). Also, with the large amounts of data available
with the organizations, data will be one of the key driving factors for marketing decisions in the
future.
REFLECTION
By completing this module, I got an opportunity to learn about how marketing as well as
markets in the digital age have been influenced by current technological issues. One of the most
important technological issues is privacy. This is because it is extremely important for the
marketers in different companies to keep the data of their customers as well as other important
information relating to the different plans and strategies private and confidential. It is important
because if the data is not handled in a proper and effective manner, there are chances of it getting
hacked or being used illegally by a competitor (Quinton and Simkin, 2017). Completing this
module has been a very learning and enriching experience for me because I learnt about issues
that I was previously unaware of.
The module helped me in gaining a broader picture of the different technological issues
and the way in which they can influence marketing. Marketing is one of the most important
components within an organization that helps it in attracting as many customers as possible and
also contributes to its overall profitability as well. Customer preferences and needs keep on
changing from time to time and it is important for organizations to adopt strategies that help
them in satisfying those needs (Reddy and Reinartz, 2017). Machine learning and artificial
intelligence are among the most important trends that will impact the overall marketing process
in the future. I learnt that although there are many advantages of having latest technology in the
workplace, it still comes with a lot of disadvantages.
This can include providing effective training to the employees who work within the
marketing department of the company. They have to use technology in order to execute the right
strategies that will help in attracting a greater number of customers and also significantly

contribute towards the overall profitability of the firm. I have understood that with the help of
technology, marketers can get useful insights about what do customers prefer buying and what
are their needs. They can analyze the different trends in market and therefore, take effective and
reliable decisions. This can also contribute towards the overall productivity as well as
profitability of the company. Online reviews and comments are also important technological
issues because if an organization keeps getting negative reviews or comments, it means that they
should change their marketing process.
Apart from this, the module also showed me that marketing helps an organization in
enhancing overall productivity as well as performance of the company. Also, there are various
trends that can that can affect the overall process of marketing in the future. Therefore, this
module has not only helped me in enhancing my knowledge about the different trends, but has
also improved my overall communication skills (Reichstein and Härting, 2018). Also, that digital
technology has helped organizations in providing a seamless experience to the customers, which
further leads to the companies gaining trust of the customers. Thus, technologies should be
implemented in order to remain competitive and gain a competitive advantage against
competitors.

REFERENCES
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