We have already
discussed that advancements in technology and the progression of marketing go
hand in hand and are unavoidably entwined with each other. Since the very
beginning of technology it has proven to be a key raison d'ętre behind many
important landmarks in the history of marketing. The course of action can be summarized
somewhat like this:
New
technology surfaces and primarily only plays as a safeguard of technologists
and early adopters.
The roots of technology
becomes deep rooted in the market and starts to come in range of what is called
“modern” and starts to have an impact on the marketing world.
Marketers
wanting to make a benchmark struggle to exploit the power of this rising
technology to benefit themselves by reaching out to a larger target audience.
Technology now seeps
into the conventional world and employed as the tool to observe typical
marketing.
It is inevitable to
talk of the printing press, radio, television, and internet when the topic of technology is raised. These chief advancements in
technology have forever changed the relationships of marketers and customers
and have had a huge impact internationally. However, marketing is not all
regarding technology, rather it is concerning the people. Yes, technology does
seem appealing from marketing viewpoint but only where it plays a huge role in
connecting people with each other on a more successful scale.
Now let us come to
whether technology has had an effect on markets or not. History provides us
with numerous examples where technology, that has been considered outmoded and
inappropriate for today’s world, has had an influence on the markets. Muzak,
the corporation that invented elevator music for the world in 1930s is one of
the examples. In 1922, retired Major
General George O Squier invented the technology for channeling acoustic over
power lines and the copyrights were bought by North American Company. Under the
business name of ‘Muzak’, in 1934, music was channeled into
Muzak was believed to
hit the correct target until the introduction of free commercial radio when
there were doubts regarding whether the strategy adopted by Muzak really hit
the bull’s eye to reach to the market. As free music became accessible on the new
wirelesses the families were no longer ready to spend on the Muzak service. Not
yet discouraged, the company targeted all its hard work towards the
It is very correct to
think that in contrast to the enormous inventions of contemporary media like
radio, television and internet elevator music is something very insignificant.
On the other hand in the days when it was at its zenith Muzak was something
very advanced and it was not only confined to the elites but reached out to
many. Muzak had in it the power to bend
the opinions of people and affect the market directly, to the extent that if a
musician’s piece was played on the Muzak network it was a surefire hit.
The whole point of this
discussion being that technology has that capacity in it to pave ways to
entirely new markets and also to thoroughly quiver already present markets.
Embracing the digital technologies in the mainstream market as the internet,
its software applications, and the devices that enable people to interact with
each other at any time and any place no matter what has overlain all that came
prior to it. Technology, even though, very useful is one of the disrupting
developments in marketing history.
However, your outlook
towards it plays an important role in whether the disrupting developments prove
to be a new opening or a menace to you as a marketer.