Marketing of Technology: Competitive Strategies and Analysis

This report focuses on the marketing of technology, addressing the increasing competition in the market for electronic devices. It explores various marketing techniques, including digital marketing strategies, data-driven processes, and inbound marketing methods. The report emphasizes the importance of understanding customer needs and expectations, highlighting the role of social media marketing and lead management. It also examines pricing strategies, particularly competitive pricing, and the impact of cost-effectiveness on consumer choices. Furthermore, the report underscores the need for technological brands to maintain sustainability by adapting to market changes, innovating product designs, and addressing health concerns. The conclusion reiterates the importance of adapting marketing policies to meet evolving customer demands and the significance of pricing strategies in the competitive technology market.

Running head: MARKETING OF TECHNOLOGY
Marketing of Technology
Name of the Student
Name of the University
Author Notes

MARKETING OF TECHNOLOGY
1
Topic: Marketing of Technology:
As the demand for technological products is increasing within the market of the modern
days, numbers of companies are entering the market with the aim of using the opportunity. This
has increased to the level of competition within the market. The companies are using aggressive
forms of marketing campaigns to gain the significant competitive advantage. The current study
will, therefore, focus on the marketing techniques that are used in the promotion of various
electronic devices.
The current day technological market possesses a unique challenge that is related to the
sustainability of the products. Customers require advanced level of product information that can
help them to understand the unique features of each technological gadget better. This helps in the
gaining competitive edge concerning the current technology market. As the level of customer
expectation increases with the fast advancement of technology, the companies need to interact
directly with the customers. This will help them to understand the issues of the customers and
also attract them with detail and unique description of each product. The digital marketing
strategies can be applied in respect of the current market situation that can quickly help to deliver
important messages to the customers (Jacobsen et al. 2016).
The data driven process is also essential that can help to generate awareness among the
target group of customers, which includes all gadget freak and business class people. Inbound
method of marketing is considered to be highly essential as it can help to promote essential
information that is needed to improve the level of understanding of product usage. Social media
marketing is considered to be essential in the given context, as it provides a platform to easily
connect with wide range of audience (Wirtz and Lovelock 2016).

MARKETING OF TECHNOLOGY 2
The business environment of the technological market is subject to constant change. This
is evident by change within in the industry of mobile communication, which has been
revolutionized with the introduction of smart phones and android phones. The technique of lead
management can be implicated in the given context to generate new potential from the
customers. This is achieved by upgrading the level of software that is used smart phones in a
short span of time. The process of Lead Management provides a set of methodologies and system
practice that can help the technology brands to establish relationship with the customers (Babin
and Zikmund 2015).
As that level of competition within the technological gadget market increases, most of the
companies are focusing upon providing cost-effective products. The major challenge of the
companies in the context of the current market situation is to decide upon the investment
strategies. In order to provide better cost-effective product innovation, it is essential for the
companies to focus on their pricing strategies. Competitive pricing strategy is one of the
popularly used techniques that are employed by most of the major technological brand in order
to gain competitive advantage. This is evident from the fact that major Chinese technological
brands like Lenovo, Xiaomi, Honor and many others high end technological gadgets have gained
wide popularity within in the Asian and other developing nations (Xie et al.2014). Hence, the
strategy of competitive pricing is quite efficient compared to that of the premium pricing
techniques. The examples of decline in the sales rate of Apple Inc can also be given in the given
context, which has lost significant market share with the rise of the Chinese brands.
Nevertheless, it is essential to decide upon the target group of customers before implementing
the pricing strategy. For example, in case a company target customer within the economic zone

MARKETING OF TECHNOLOGY 3
this is it is essential for them to focus mainly upon cost-effectiveness by implementing economic
pricing strategy (Kotabe and Helsen 2014).
Essential promotion campaigns need to be implicated in economic pricing strategy,
focusing mainly upon the expenditure levels. Companies also need to compare the features of the
product with that of other competitors. This will send important message to the customer group
about the advantage of their product in comparison with that of their competitors.
The process of information collected from the market is essential. This can be implicated
by conducting online surveys of the target customers. The online data having collected by market
researchers are analyzed with the help of statistical tool in order to implement proper marketing
techniques.
It is therefore recommended for the technological brand to maintain sustainability within
the business environment. This is mainly done by collecting information related to the
competitive environment of the market and also understanding the change that occurs within the
market. The pricing strategy will be implicated depending upon the behavior of target customer
group. Another significant example that is related to the sustainability is due to the shortage of
energy at the global scale. Hence, in order to deal with this challenge, it is necessary to bring
about innovation within the product design by minimizing the rate of energy consumption. It is
also essential to consider the matter of health issues that can cause potential challenges within
the long-term usage. The harmful consequence of electromagnetic radiation can be given as a
relevant example. This issue can be dealt by lowering the Specific absorption rate (SAR) of the
smart phones. This information related to the SAR values has to be mentioned as a part of the
promotional activities.

MARKETING OF TECHNOLOGY 4
In the concluding note, it can be said that all technological brands are facing a high level
of competition due to market entry of new startups. It is essential for them to bring about regular
change in marketing policy which will be implicated as per the changes in the demand levels of
customers. Moreover, the pricing strategy is also believed to be one of the essential elements of
marketing technology, as the customers these days focus mainly upon the cost-effective product.

MARKETING OF TECHNOLOGY 5
Reference
Babin, B.J. and Zikmund, W.G., 2015. Exploring marketing research. Cengage Learning.
Jacobsen, L., van Trijp, H., Wagner, K. and Lähteenmäki, L., 2016. Implementation challenges
of cross-functional communication between marketing and technology in the innovation process.
In R&D Management Conference 2016.
Kotabe, M. and Helsen, K., 2014. Global marketing management.
Wirtz, J. and Lovelock, C., 2016. Services marketing: people, technology, strategy.
Xie, Y., Zhang, C. and Lai, Q., 2014. China’s rise as a major contributor to science and
technology. Proceedings of the National Academy of Sciences, 111(26), pp.9437-9442.