Information Technology (IT) in Marketing Essay Example | Topics and Well Written Essays - 3500 words

Information Technology (IT) in Marketing - Essay ExampleTechnology plays an important habit in the business environment because it accelerates the pace of communication, transportation, and manufacturing and also assists in formulating major selling strategies. IT and communication has been determine as the macro factors in the new business trends. The way computers receive and store data is a matter of astonishment in the field of communication. Path breaking applications brought in by companies such as BlackBerry, Apple, etc is taking international merchandising to a new level (University of Leicester, 2010, p. 64-65). This study aims at evaluating the affect of technical advancement in the international marketing. The intention is also to discuss the effect of information technology (IT) on creating business opportunities world(a)ly and maintaining healthy relationship with the customers around the world. Keeping in mind the aim of the study, the investigating would initiate w ith an overview on the significance of IT in marketing, which would further discuss the aspects of IT advancement and its effect on global business environment. ... 398). Advancement in technology has provided the companies with the capability to collect enormous quantity of information tie in to the recent and potential market. In order to recognize the marketplace and respond accordingly to the demands, companies nowadays watch technological linkages which will internally link the operations of the company. A study done in the year 1995 by Ernst & Young revealed that about the 327 firms that were surveyed, about 72 percent of them were already using IT based good example to manage their finance department, 64 percent to manage logistics department, and 49 percent for marketing segment. These companies only anticipate that the projected usage of IT in the finance department would increase to 81 percent, logistics to 79 percent and marketing to 78 percent in a span of five year s. Similar trend were also seen inside the business environment of UK (Wierenga, and Bruggen, 2000, p. 5-7). Nowadays IT links the marketing and functional equivalents, so as to offer availability to market information. By streamlining the suppliers, customers, and functional department through a single IT network, huge benefits can be derived. This would have been quite complex if IT framework did not existed. The major factor in the shifting marketing background is the emergence of IT based communication network. With the advancement of IT, the demands of the customer atomic number 18 also increasing because they are already receiving augmented products. The emergence of internet and diverse assortment of online tools are accessible by the validation to reach out to the target audiences (Lamb, Hair, Jr., and McDaniel, 2007, p. 19-20). A major