Technological Environment

The technological environment includes forces that make new technologies, producing new product and the market opportunities.

1). Technology is possibly the most dramatic force shaping our destiny.

2). New technologies make new markets and opportunities.

3). The following trends are worth watching:

1. Quicker pace of technological change. The products are being technologically outdated at a quick pace.
2. There appear to be almost unlimited opportunities being developed regularly.  Consider the expanding fields of health care, robotics, the space shuttle and biogenetic industries.
3. The  challenge  is  not  just  technical  but  also  commercial :- to  make  practical, reasonable versions of products.
4. Increased regulation.  Marketers should be conscious of the regulations concerning product security, individual privacy, and other areas that put affect on technological changes.  They have to also be alert to any probable negative aspects of an innovation that may harm users or arouse opposition.