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The Influence of Technology on Contemporary Strategic Marketing Management Practices
Pages 11 (2761 words)
The Influence of Technology on Contemporary Strategic Marketing Management Practices Introduction Conventional models of management are generally unsuitable for a large number of markets nowadays. The tempo of change, the immediate accessibility of information, the importance of attracting not just customers but building competitive advantages or establishing a competitive position in markets, and rapidly advancing technology are few of the most observable reasons…
This essay also explores how strategic marketing management practices have been strengthened by conventional and latest information technologies. Examples from the health care organisation are used to support the arguments. An Overview Above all, it is important to consider the concept of ‘strategic marketing management’ to examine how technology has influenced marketing. As defined by Jobber (1998), strategic marketing management is “the approach a firm takes to securing and retraining profitable relationships with its customers.”2 It was demonstrated by Leverick and colleagues (1998) that numerous organisations have transformed their marketing strategies through the influence of technology.3 For instance, in the manner an organisation communicates with or approaches its customers and the way it carries out marketing activities. Technology, in particular, information technology (IT), helps an organisation build competitive advantage, enhance managerial outcomes, and attain more accurate and wide-ranging environmental scanning. ...
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