Marketing and Markets in a Digital World

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