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Emerging technologies and implications for marketing strategy and planning

January 23, 2020 by Joe Cannon Leave a Comment

Maybe this is my bias — I am a bit of a geek. But I like to encourage my students to speculate about how future technological advances might impact marketing strategy and planning. This falls into the discussion of the external market environment in Chapter 3 (see In-Class Activity 3-1 for example). This article in USA Today, “AI, 5G, ‘ambient computing’: What to expect in tech in 2020 and beyond,” offers an opportunity to examine some of these emerging technologies. The article includes a 5 minute video on 5G that you could show in class to put students on a common base. What can be interesting for students, is to think about is the implications of new technology on traditional businesses. So for example, I could see asking students how this technology might impact:

  • Starbucks or a small local coffee shop,
  • A law office,
  • A fast-food restaurant chain (say McDonalds),
  • A grocery store,
  • A clothing maker — say Levi’s or Lululemon

Push students beyond the obvious. Or of course, you could have students come up with companies on their own.

Filed Under: Chapter 03 Tagged With: Technology, technology environment

Internet of Things: Comfort vs Privacy in a Connected World

January 16, 2020 by Joe Cannon Leave a Comment

The Internet of Things (IOT), which we cover in one of our What’s Next? boxes (see Chapter 8) offers some promising consumer benefits. IOT connects devices (your sprinkler system, coffee pot, thermostat, and more) to the Internet. From there, the devices get smart — so for example, your sprinkler system sees there is a 90% chance of rain today and so it doesn’t water the lawn for the next three days. Yet there are tradeoffs as consumers lose privacy. This short (less than 3 minute) Bloomberg video can be assigned to students or shown in class to stimulate discussion. It might work well with Chapter 8 as you discuss Product or in Chapters 7 or 19 where we dig more deeply into privacy.

Filed Under: Chapter 07, Chapter 08, Chapter 19, Product Tagged With: Privacy, Technology

Technology Enabling the Future of Marketing

February 4, 2018 by Jon Firooz Leave a Comment

Marketing has always relied on creativity.  Creativity in promotion design, product definition, copy, and more.  Today, more and more we’re seeing opportunity for technology advancements to augment marketing strategy.  The 16th (soon to be published) edition of our book, Essentials of Marketing, focuses on the impact of artificial intelligence and technology on marketing.  You don’t have to look far to see examples of that impact today.  Big data has been talked about (and utilized successfully) for years but AI, virtual reality, and other advancements are finding their way into marketing as well.

This Fast Company article discusses how an ad agency created a technology-focused division and how that division is delivering some amazing results with high-profile companies including Nike, Samsung, and KFC.

Filed Under: Chapter 02, Chapter 13, Chapter 15 Tagged With: artificial intelligence, Technology, virtual reality, VR

What’s Now? Chapter 3 – BMW Faces the Future of the Driverless Car

June 23, 2016 by Joe Cannon Leave a Comment

BMWVisionThe future of the automobile industry, while still blurry, is beginning to come into focus. Experts agree that self-driving cars are the future. But will we own one of these cars? Or will a self-driving Uber pick us up and take us where we want to go as needed? Planning for these potential futures are challenges facing all carmakers.

Chapter 3 briefly explores the influence of technology with the example of the driverless car. “The Ultimate Driving Machine Prepares for a Driverless World” (Fortune, March 1, 2016) digs deep into this future from the perspective of German carmaker BMW. The image on the right is a BMW Vision concept car.

Conduct a SWOT analysis on BMW as it looks at this future. Identify two strengths, two weaknesses, two opportunities, and two threats.

Filed Under: Chapter 03, External market environment, What's Now? Tagged With: Technology

Mercedes Benz’s driverless car prototype

April 29, 2015 by Joe Cannon Leave a Comment

The driverless car is a reality. This video might be fun to drop into a lecture on the external market environment — to stimulate a discussion of technology. What markets will the driverless car influence? How will it change law enforcement? What about bars and restaurants — which may have more demand as people can stay out and drink without having to drive home? There are predictions that driverless cars will have many fewer accidents? What are the implications for the automobile insurance industry? What about demand in hospital emergency rooms?

These discussions will help students see the need to monitor technological changes that may not immediately appear to impact their business. The emergence of the driverless car (which now seems inevitable) will impact many different product-markets. There might also be a discussion of consumer behavior (some consumers may love this idea, it may be a challenge for others) or the product life cycle (how do you introduce this product to the market) or new product development (the role of prototypes).

The video shows Mercedes Benz’s driverless car prototype.

Filed Under: Consumer behavior, External market environment, New-product development, Product, Product life cycle, Video Tagged With: Technology

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