Technological Market Companies example essay topic

"Trends for the Millennium " September 25, 2001 Introduction Companies of today must respond to change to survive the future. Change is inevitable-growth is optional. Change forces all business owners to adapt, adjust and be energetic in building their businesses. After all, there are only three things a company can do with change: ignore it, adapt to it or embrace it. By focusing on new ways of doing things, a company can revitalize their business. In particular, marketing in new ways and with different strategies not only simulates new business, but also gives a company a new vision on productivity.

Advertising Companies will need to use their resources wisely as technologies and quick markets will leave companies trying to find their way to the door. Spending millions of dollars to make a product unique is a thing of the past with technology and the ever changing buying patterns and competition companies will have to use those dollars to emphasize their company values not specifically their product. Additionally education will play an important role as markets and technology is rapidly changing. Companies should develop a culture that encourages and fosters new ways of looking at things.

They constantly should strive to create, develop, test and refine ideas. Organizations and associations are resources and committed to offering ideas, information, data, conferences, publications and more. In addition, local college continuing education classes, public workshops and even the library are resources that can be utilized. Learning about new ways to hire, train and motivate employees, for example, can be critical to success-especially because the labor market is so tight.

Keeping abreast of trends in marketing (i.e. electronic communication, direct mail and response, telemarketing) also is important. As an independent business person I have used educational means to stay adept to new technologies as well as keep the quality of my work more personalized. My philosophy is based on quality and not quantity and has worked and if business forces me to expand I have the ability to change and hire individuals with the same attributes to serve my customers. Technological Market Companies have to adapt, adjust and embrace new technologies. From order entry to presentations, confirmations to specifications, sales tracking to sales training-automation and computerization are keys to success. This is important to gaining more information, such as contacts and leads.

Successful companies constantly are working to make operations more efficient. On-line marketing and communication also are vital. Being online might not produce the kinds of leads and sales results that alternative strategies might, but it can be an opportunity for gaining information, such as specifications and market conditions. Especially with the cost involved with marketing and getting the product or service to the consumer is being reduced significantly by technology.

This is opening the market to more competition and reduced prices because distribution channels are shrinking and allowing products to reach the consumer faster and at lower price than traditional methods. The new mentality provides companies a better chance to survive if the plan is researched well and is executed with wit. My recent online endeavors allow me to compete with the likes of Gateway and Compaq to a certain extent. I can build a state of the art web page and offer my service for half the cost of these two companies because my overhead is minimal and I can come to the consumer and offer my service when the consumer wants them not when the are offered. It also allows me to see data on who is buying computers and what age groups and with the proper channels I can create mailing list and phone sales directed at the novice. Customer sIt is vital that companies focus their efforts in their customers and no longer take the position, 'We want to market and sell what services we offer.

' Instead, they should adopt a more realistic (and modern) position, such as, 'We want and need to market and sell what the customer requires. ' This approach is market-driven, focused and positioned. This method is required in the future because of the infinite number of resources and business to be reached very easily by consumers will result in loss of customers as well as future customers. Because of technology customers as well as businesses can reach many customers very quickly causing severe penalties to business that offer poor services.

As I stated before I have failed well by serving the customer and keeping their needs as the means of my services. It is not hard for me to accomplish these tasks because I am small and can achieve a personal approach where as the likes of Compaq can not. Conclusion Business building is complex, but it can be approached in a logical, well-organized fashion. Marketing principles, such as focusing on customers, are constants in business development. Technology is host to growing competition but also great opportunities if pursued in the right planning and strategies. A Company must market their products or services as if their livelihood depends on it-because it does.

Bibliography

Ogden, Mike. "Millennium marks shift in trends for marketing". Smart Marketing. Dec. 1999.
Available: at (web). Blumenthal, Ira. "Trends for the Millenium". Ira Blumenthal 1999-2000.