Influence of Technological Innovations on Companies’ Marketing Strategies
Influence of Technological Innovations on Companies’ Marketing Strategies

Author(s): Vijaya Kumar Bhima Rao, Dakshina Murthy, Kiran. G, Madhava Murthy
Subject(s): Marketing / Advertising
Published by: Transnational Press London
Keywords: Consumer Behavior; Technological innovations; Consumer buying behavior; Marketing Strategy; Structural Equation Modelling;
Summary/Abstract: A combination of increased penetration of the Internet and the fast-paced growth of technology is changing the need and buying patterns of consumers (Karenhka, 2013). With over 50% of the population of India being under 25 years of age, and 65% being under 35 years of age (Indian Census Data, 2015; National Statistical Commission, 2017), the younger generation has grown up with technology. They are heavily influenced by the rapid penetration of the Internet, the availability of a large amount of data, and recent innovations in mobile devices (Han Wai, et al., 2016). They are adept at using the latest gadgets and web-based services, online 24x7 right through the year. This generation is very well connected in social circles through websites like Facebook, WhatsApp, and LinkedIn, parading and flaunting their opinions in their circle in real-time (Chaffey, et al., 2016).This research provided valuable inference to the marketers on how the changing technological innovations are impacting their marketing strategies and the organization’s business model. It is seen from the analysis that technological innovations have a significant influence on the companies’ value proposition, competition analysis, creation of new products & services, and revamping companies’ internal processes.Based on our findings that technological innovations play a significant role in the consumer buying process, we have concluded how marketers should adapt the key disruptive technologies when defining their marketing mix. The paper will be of interest to all research scholars and will be greatly helpful to companies that are on the cusp of investing in technologies for their marketing campaigns.

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