Question

Discuss the impact of ICT on marketing.

Answer 1

Ans

Information and Communications technology has the following impact on marketing;

1. Big data and Analytics are used to gather data from all sources including social media and offline sources to arrive at optimal marketing mix

2. Social media marketing has become crucial as customers engage on these platforms and building community of fans has become crucial for brand identity and preimmunization of the product.

3. Feedback of new launches is very fast and product improvements or iterations become faster and easier.

4. Digital media including OTT (over the top) platforms have become crucial part of the marketing mix

4. Brand communication with the followers happens very fast on the website or the webpage of the product or service.

5. Higher engagement with the consumers through social media likes, shares, comments, feedbacks and viral stories of excellent service as well as poor service.