The Role of Technology in Business Essay Example | Topics and Well Written Essays - 750 words - 2

The Role of Technology in Business - Essay Example Making information available online and reaching prospective consumers via Social Networking can increase the visibility of the products and their qualities. With the increasingly hectic lifestyles of young professionals; marketing online and allowing for sales via the internet makes purchasing convenient and easy, and thus leads to more sales. The consumer populations keep changing as the baton of purchasing power and desire are passed from generation to generation. It is necessary that the industry recognizes the changing needs of the new generation of consumers and make available products and services that compliment the needs of the consumers in such a manner that the products are most visible to the consumer in a positive manner. Knowledge about production and delivery is becoming increasingly common as the connections increase between different parts of the world. Consumers are becoming aware of products that are not local, and are making demands for them; which are quickly met be importing technology and skills. This increases the set of suppliers for any said product or service, increasing the competition for existing organizations. This competition has to be met head-on in order to survive. The busy consumer will prefer to give allegiance to the organization that makes the product and information about it available easily to the consumer. If a consumer is able to get the details s/he requires easily; they are more likely to buy the product. Needs change as the environment of the consumer changes. A product or service that sold well before may not be received well in new circumstances. It is important that the organization is tuned to the pulse of its market and modifies its product/service to suit the needs of its new consumers. Â