Question

How technological environment may affect buyer behavior? Give examples.

Answer 1

Technological advancements has changed the buying pattern a lot. Earlier need recognition and awareness was a difficult tasks for the organizations to create. But smartphone , social media and all digital technologies helps in reaching out to customer much eaisly. Buyers buying habbit and buying requirements keep chaning based on the trend and need of knowing and owning new things. Product life cycle there by has reducef a lot and buying power of customer and comparison of products and services has also increased due to easily technological platforms. Physical check of product is not required because of e commerce digitalization and customer can easily chose product and analyse the product through reviews.Buying capability and rapid change of need has created many uncertain in several product and some got obsolete .many buyers has turned out to show complex buying behavior and creating a trust worthy or loyal cusotmers has become very difficult. Demographic study is required for most of the product launches and market enhancement as technologies is getting mostly used by people in the agre group of 20-60 . Tech savys effectively use the technology platform for all sort of shopping which reduces the need of brick and mortar retailers shops. Thus technology has made aggressive change in the buying behavior .