Assignment Title: Impact of Digital Technology on Marketing Strategy Assignment Question: You are required to critically analyze the impact of digital technology on contemporary marketing strategies. In this assignment, explore how advancements in digital technology influence marketing approaches, examine current trends in global consumer behavior, and evaluate the strategic adaptations necessary for businesses to remain competitive in a digital-first market. Assignment Tasks: 1. Introduction Provide an overview of how digital technology impacts marketing strategies, including a brief mention of how businesses leverage technology to understand consumer demands and improve competitive positioning. 2. Critical Analysis of Digital Technology’s Impact on Marketing Strategy Analyze how digital technologies—such as data analytics, digital communication tools, and online platforms—affect key aspects of marketing strategy. Focus on factors like customer relationship management, brand communication, and return on investment (ROI). 3. Current Trends in Global Consumer Behavior Examine recent trends in global consumer behavior and discuss how these changes shape marketing strategies. Consider aspects such as increased health awareness, eco-friendly product demand, the rise of online shopping, and the influence of virtual interactions. 4. Conclusion Summarize the implications of digital technology on marketing strategy and the importance of staying adaptable to shifting consumer behaviors. Formatting and Submission Guidelines: • Word Count: 1,500 – 2,000 words • Format: Use 12-point font, Times New Roman, double-spaced • Referencing: APA style • Submission: [University Submission Portal] by the due date Learning Outcomes Assessed: • Demonstrate understanding of the role of digital technology in marketing strategy development. • Critically evaluate the influence of consumer behavior trends on marketing strategies. • Develop insights into adapting marketing strategies to remain competitive in the digital era.

University/Course: MKT502

Uploaded: October 28, 2024

Files: 1

✓ Solution:

Introduction

The study briefly describes the different individual management parameters and operational factors related to the effective impact of digital technologies on the distinct strategic approaches connected to the market. Individual advanced digital technological applications assist several organisations in terms of providing an overall concept connected to consumer demand and expectations based on the various company offers such as products and services focusing on the business market situation. The study also reflects the predicted outcomes utilising the appropriate digital technology applications organisations can analyse consumer behaviour and several people’s reviews of the products or services of the company. 

Discussion

Demonstration of critical understanding of the impact of digital technology on marketing strategy

As per Lee et al. (2019), in addition to the particular digital technological applications, distinct individual companies can manage their strategic approaches depending on the business market situation and the feedback of customers. Utilising the noted digital technology business organisations can manage different operational factors in terms of improving the relationship between the company and the people (Bala and Verma, 2018). They indicated several operational factors such as improving consumer relationships, establishing adequate communication between the customers and the company, and allowing the cohesive development of the business revenue. 

It is mentioned by Jones and Livingstone (2018), in order to reflect a strategic approach towards the business market to improve the business performance and attract more people by maintaining a healthy relationship with the consumers the company needs to initiate a few management parameters. The indicated management parameters are creating and maintaining the websites in order to reflect the current activities in the organisation and the present offers related to the products and services (Kajwang, 2022). Applying several digital tech

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