Development of Technology in Business
- Submitted by: aoumeurabaza
- Views: 165
- Category: Science
- Date Submitted: 01/01/2016 01:38 AM
- Pages: 11
- Report this Essay
1.0 Today’s business environment:
1.1 The cause of competition in business environment:
1.1.1 Foreign Companies Compete With You Locally
Foreign companies are already in your backyard, so get in theirs. You may think you are dominant in your local market, but companies from around the world have access to your customers. Only by competing on a global scale can you secure market share. You face global competition daily. Be prepared to use your competitors' tactics, which means marketing globally.
1.1.2 Innovation Goes Global Quickly
When you introduce innovations to the marketplace, copycats are waiting to pounce on your idea and introduce it to other markets. It's in your best interest to find those other markets before others do. There was a day when you could take your time exploring a local market and then move gradually into other markets. Today, you are more likely to succeed if you move into global markets simultaneously with your local market.
1.1.3 Global Brand Recognition
Your brand can become recognized worldwide based on a simple website. In addition, any articles you publish as an expert in your field, along with marketing efforts, can promote your brand to people thousands of miles away. It's important to recognize that all of your brand promotion has a global audience, even if you tend to focus on needs in your region. Though international customers may not buy from you at the present moment, when you do start marketing to them, there's a chance they will recognize your brand. When you talk up your brand, speak to the world.
1.2 The Cause of Market Turbulence
An unstable economic climate, ever changing customer needs, and up-and-coming technology continually stirs up market turbulence. The driving force in this new marketplace is the consumer. The driving factor is technology. (Santos-Vijande, Leticia, & Álvarez-González, 2007) Our world is changing; customers are more demanding they want: new, innovative products, increased...
1.1 The cause of competition in business environment:
1.1.1 Foreign Companies Compete With You Locally
Foreign companies are already in your backyard, so get in theirs. You may think you are dominant in your local market, but companies from around the world have access to your customers. Only by competing on a global scale can you secure market share. You face global competition daily. Be prepared to use your competitors' tactics, which means marketing globally.
1.1.2 Innovation Goes Global Quickly
When you introduce innovations to the marketplace, copycats are waiting to pounce on your idea and introduce it to other markets. It's in your best interest to find those other markets before others do. There was a day when you could take your time exploring a local market and then move gradually into other markets. Today, you are more likely to succeed if you move into global markets simultaneously with your local market.
1.1.3 Global Brand Recognition
Your brand can become recognized worldwide based on a simple website. In addition, any articles you publish as an expert in your field, along with marketing efforts, can promote your brand to people thousands of miles away. It's important to recognize that all of your brand promotion has a global audience, even if you tend to focus on needs in your region. Though international customers may not buy from you at the present moment, when you do start marketing to them, there's a chance they will recognize your brand. When you talk up your brand, speak to the world.
1.2 The Cause of Market Turbulence
An unstable economic climate, ever changing customer needs, and up-and-coming technology continually stirs up market turbulence. The driving force in this new marketplace is the consumer. The driving factor is technology. (Santos-Vijande, Leticia, & Álvarez-González, 2007) Our world is changing; customers are more demanding they want: new, innovative products, increased...