With the new invention of technology, marketing is taking another way that might be a threat or beneficial in the marketing industry. The imperative of digital engagement and innovation have emerged in the business and mostly the marketing sector. The businesses now realize the need to use the digital platform to engage with their customers, key stakeholders so as to maintain the relevance and the drive for conversations (Kittaneh, 2014). However, few people in the market realize how fast the change should take place, or how fast the transformational the process should be. Therefore, the business needs to embrace the digital marketing to pursue the innovation so as to disrupt the old business model before the competition takes place. However, there are also benefits and threats of automation.
Automation of equipment in the marketing will go a long way in improving adverting and demand for products. Digital technologies will increase the size and the scope of marketers. First, when the digital channels emerge, the devices will give the consumers greater access to the information, and that means there will be a greater collaboration and communication. That means that the physical world will be replicated in the digital world through the digital business, communities as well as the assets, thus changing how the consumers interact with the business. With the wide access of information in the digital platform like the social media, that means the information can reach customers fast and widely within a short time (Greco & Wharton, 2015). That is different from the traditional way when one had to go physically and meet with the consumers. Through market digitalization, the customers will be able to read and get more information online than before. Therefore, this will increase the demand for products because the consumers are in a position to get the information online and choose the best product they want.
Through the digital marketing or automation, the information aggregation, as well as the price comparison, has also evolved. With the automation, the consumers have real-time and the mobile access nowadays than before where they relied on the brands to provide to them information. With digital technologies, the consumer will access the competitive pricing information by scanning the product's barcode into their mobile phone so as to read the information for themselves about the product. By reading the information, they can understand the nature of the product without having to walk for hours to get the manufacturer (Bell, 2016). Through reading information, it will improve customer satisfaction even before the buy the product. Moreover, that means access to information through the mobile phones, and other online platform will increase the demand for the products.
The automation of services in marketing will also engage the supplier, consumers, and employees digitally. As the company sees the need ton to achieve the cross-channel and collaborative engagement with their customers, they may be less conscious that this need also applies to the suppliers and the employees. That is why the rise of social media will break the barrier between these groups. Where there is no digital platform, the supplier interacts with employees and customers separately, and at times they never interact (Bell, 2016). However, with automation, all the parties involved in the purchase of a product interact with a crowd through social media platform, and that means information will flow in all directions that the company wants to pass messages to. That means the consumers can ask the suppliers questions about the products, and by so doing they are in good position of understanding each other and maintain a good customer-supplier relationship. Therefore, the consumers will be satisfied with the services and products offered thus maintain a high demand for the product.
Also, the use of digital technology will enhance the traditional business models. For example the use of automated and the digital services to compete with and to extend the existing manual services in business. Some of the new model includes the eBay auction model, also the life insurance computing algorithms. By use of this digital service, it will make the better use of the self-services channels including the customer services through the social media platform. By so doing it will reduce the time that could be spent in manual service and also reduction of the time to revenue. Also, the used of digital technology will enhance the traditional business models by shifting of the core business from the selling of the product to the offering of better services. For example the IBM and the Zipcar/Streetcar (Solomon & Bamossy, 2016). The benefits will be the pay as you go, model, instead of queuing to pay for a product thus increasing the share of value- chain and the share of the wallet. Therefore, that, it will increase consumer demand as it's consumes less time and it is fast.
On the other hand, automation of services is a threat to employees. While most companies strive to shift from manual selling to the digital platform that means machines will do most of the work. For examples, traditionally, people moved from place to place to advertise for their goods, but with the change of technology, things are different. Most of the businesses have websites whereby they advertise and sell their goods online. That means if there were twenty marketers they would be reduced to five, who will operate online by posting the products there. The conversation between the consumer and supplier will be made online that means the workload will reduce thus cutting the number of employees (Posner, 2015). Also, the automation process means that some employees will have to receive low wages because the employer assumes that machine does most of the work. That means that most workers will experience low wages than usual when machines are incorporated in the workplace. Therefore, automation is a threat to most people's job shortly.
With the automation of marketing process, that means a challenge to the economy. First, there will be a strain of economy as they try to migrate to digital marketing which is not a one-day thing. It is also not easier to bring a single country to digital bearing that there are different social classes. That means a country will have to invest much to its people and ensure that all people can access online platform because even now, not all countries are developed technologically. Therefore, automation means that every single citizen should be digital so that they can access the products online. However, if not everyone can access the product that means the demand for products will be low because not everyone is on the digital platform. Also, for the country to stabilize the economy, it means that citizens will be strained by increasing revenues (Deiss & Henneberry, 2017). Therefore, automation of machines to digital will strain the economy of the country and may affect the demand for products more to less developed countries.
Finally, the digital technologies will affect the income distribution. With the introduction of the machine in marketing that means the human labor involved particularly in production will be of less importance and only a few personnel will be retained in the workplace. The owner of the capital equipment will be able to capture a larger share of the income from the products, goods, and services produced. The owners are people in the society who are fewer than the larger group of people who depend on them or as the laborers (Kittaneh, 2014). Therefore, the income will be distributed more to the owners than the laborers thus affecting the income distribution in the society.
References
Albert Greco & Robert Wharton. (2015). The Market Demand for University Press Books. Journal of Scholarly Publishing.
Bell, C. S. (2016). Demand, Supply, and Labor Market Analysis. Journal of Economic Issues, 423-434.
Kittaneh, F. (2014, January 24). 5 Strategies for Generating Consumer Demand. Retrieved from Entrepreneur: https://www.entrepreneur.com/article/230981
Micheal Solomon & Gary Bamossy. (2016). Consumer Behavior: A European Perspective. New York: Pearson.
Posner, H. (2015). Marketing Fashion: Strategy, Branding, and Promotion. London: Laurence King.
Ryan Deiss & Russ Henneberry. (2017). Digital Marketing for Dummies. New York: John Wiley & Sons.
