MARK 1051 - Contemporary Issue in Marketing

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University of Greenwich (UOG)
Bachelor of Arts (Hons) Business Management (Top Up)
ASSIGNMENT / PROJECT COVER SHEET(to be completed individually by student)

UOG ID Number001146040


Course Specialization
(*Please delete whichever is not applicable)

Marketing and Sales
Subject Code/NameMARK 1051CONTEMPORARY ISSUE IN
MARKETING

Assignment TitleESSAY 50%
Lecturer/SupervisorMr. Mark Carace
Word count4712 words

DECLARATION
I, the above named student, confirm that by submitting, or causing the attached assignment
to be submitted, I have not plagiarized any other person’s work in this assignment and
except where appropriately acknowledged, this assignment is my own work, has been
expressed in my own words, and has not previously been submitted for assessment.
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Table of Contents
I. Introduction ....................................................................................................................... 3
1.What is disruptive technology?..............................................................................................3
The potential of disruptive technology.....................................................................................4
Disruptive technology in Marketing.........................................................................................4
2.How its impact on marketing today?.....................................................................................4
II. Two disruptive technologies .............................................................................................. 4
1.Artificial Intelligence (AI) .........................................................................................................5
1.1.History..................................................................................................................................................... 5
1.2.Used implementation into marketing....................................................................................................... 5
1.3.Analysis.................................................................................................................................................... 8
2.Augmented Reality (AR) ........................................................................................................ 10
2.1Overviewand how AR technology works............................................................................................... 10
2.2Used implementation into marketing..................................................................................................... 11
2.3Analysis.................................................................................................................................................. 13
III. Conclusion ...................................................................................................................... 17
References........................................................................................................................... 17
Figure of Tables ................................................................................................................... 19


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I. Introduction
In the race of industrial revolution 4.0 in developed countries. Nowadays, businesses aim to be a
leader in the industry. To do that, they must respond appropriately to the changing market. One of
the best ways for them attain the ambition in the industry is to modernize technology in everyday
processes.
In some large-scale businesses, it's also rare to allow faults even small mistakes, as it takes a lot of
resources to fix it. However, once the technology is put in place at the right time and well-planned,
it will free you from the rigid principles of frameworks and processes that are no longer suitable
for the current environment. That's why disruptive technology is so important in today's industries
in particular and marketing in general.
1.What is disruptive technology?
Disruptive technology is innovation that dramatically changes the way consumers, industries, or
businesses operate. A disruptive technology removes the systems or habits it replaces because it
has distinctly superior features. It has become a buzzword in startups looking to create a product
with great appeal (TimSmith, 2020).
Disruptive technology was divided into two categories by Clayton Christensen (1997, The
Innovator's Dilemma; How New Technologies Cause Great Firms to Fail. Harvard Business
School Press), which aresustainableand disruptive.Sustainable technology is based on
incremental improvements to an established technology. Disruptive technologylacks refinement,
often has performance problems because it's new, appealing to a limited audience, and may not
yet have a proven practical application.”
In his book, Christensen points out: “a large corporation is designed to work with sustainable
technologies”. They excel in understanding their markets, being close to their customers, and
having the mechanisms to develop existing technology. However, a new opportunity that opens
up for marketing by disruptive technologies have low profit margins and are not easy to minimize
costs and maximize their potential. Christensen demonstrates: “it is not uncommon for a large
corporation to drop the value of a disruptive technology because it does not reinforce its current
goals. the company, obscured only as technology evolved, reaped greater profits than audience
and market share and threatened the status quo.” Disruptive technology is a powerful tool that
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many companies, even startups, target for business purposes. For instance, there has been some
business has succeed in utilizing disruptive technologies such as Uber, Grab, Goviet, etc. Most
recently, people are interested in the field such as: 3D printing, Drones, electric vehicles,
Blockchain.
The potential of disruptive technology
By recognizing what disruptive technology can bring, we cannot deny the fact that the impact of
disruptivetechnologyisenormous.Forcompaniesthatarepioneeringinadoptingthese
technologies, they can realize the important of it in their businesses. This results in businesses that
do not accept a change in this technology or those that only adopt an innovation after seeing the
effectiveness of a disruptive technology will easily lose market share in the face of. to competitors
who possessed disruptive technology.
Disruptive technology in Marketing
-Application
With technologies like machine learning, artificial intelligence (AI), and virtual reality (VR), the
future of business and the market as a whole is challenging, competitive, and ever-changing. In e-
commerce, apps like chatbot assistants and analytics help provide personalization, product
recommendations,sales,searchoptimization,andpromotion,influencecustomers'buying
decisions. Another emerging and beneficial Disruptive technology in e-commerce, VR empowers
consumers to see and feel products before they buy. Marketers can harness the transcendent power
of VR to attract more consumers and profits.
2.How its impact on marketing today?
Don't underestimate the impact of disruptive technology. The rate of change means no industry is
safe from potential disruptions, and marketers will need to be ready to respond. (The pace of
change means that no industry is safe from potential disruption). In the words of John Straw, author
of iDisrupt, "we've seen an acceleration of disruptive technologyover the past few years compared
to 20 years ago." Technology is changing the way consumers conduct their daily lives and
everyone else's.
II. Two disruptive technologies
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