Discuss the impact of the technological environment on firms

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Question: Discuss the impact of the technological environment on a firm's marketing activities. The technological environment consists of application to marketing of knowledge based on discoveries in science, inventions, and innovations. This knowledge can provide marketing opportunities: it results in new products and improves existing ones and it is a frequent source of price reductions through new production methods or materials. Technological applications also pose a threat because they can make existing products obsolete overnight. The technological environment demands that marketers continually adapt to change because its scope of infl uence reaches into consumers' lifestyles, competitors' off erings, and industrial users' demands.

Reference no: EM131457536

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