Disrupted Technologically

Disruptive technologies are machines or software that replace the way people and businesses work. The way of buying and selling goods has changed drastically; the marketeers of online shopping have advanced technology which aids them in popularising their products. The type of marketing that uses disruptive technology has challenged and disrupted conventional marketing strategies to a certain extent. 

Technology Disruptors in Marketing

When new and efficient technology enters the market, the usual way of doing business gets disrupted because new technology provides novel methods of conducting business. For example, these days, many small scale businesses do not advertise their products in the form of leaflets. Instead, they simply edit a photo and post it on social media platforms. 

Through disruptive technology, customers get easy access to products. Modern Technology also gives the customers more service than the offline market. Services can also be sold on the web. 

Disruptive Technology

Disruptive technology is a technological creation or innovation that changes how customers, industries, or companies regulate or work.It is an efficient and more economical manner of conducting operations. Examples of disruptive technology types are e-commerce, online news sites, online shopping sites, and various types of systems like GPS. 

In this era, the automobile, electricity service, and television are also disruptive technologies that give several types of services and ads that the quintessential markets cannot. Disruptive technology makes a market more competitive. However, it also can lead to unemployment unless the workforce is not up-skilled.

Technology Disruptors in Marketing

1. Internet

• The Internet is necessary for everyone’s life, and customers spend more time on mobile or social media.
• Greater access to the internet, net banking, E-Commerce, online education, OTT entertainment, etc., has been made possible. 

2. E-Commerce 

E-commerce is buying and selling through the medium of the internet. On the flip side, a physical feel of a product is not possible through e-commerce, which several of the customers prefer. 

It includes: 

• E-commerce maintains a close relationship with customers.
• Sharing information about the product in detail.
• Price transparency.
• Provides various options.
• E-commerce is flexible. It means all about the brands to customers, wherever they need just a do one touch on the mobile.

3. 3D printing 

• 3D printing changed the way goods are manufactured.
• Companies benefit from 3D printing due to its flexibility, resource conservation, and straightforward approach. 

4. Artificial Intelligence 

• The ability of computers to correct their algorithms is becoming a game-changer in many fields. 
• From graphic and virtual interfaces in social media to applications in medical technology, AI is the next big revolution in technology.

Positive Effects of Digital Disruption Marketing

• Medical services are the biggest example of the positive effects of digital disruption. Medicines that are not available in the market can be made available online. 

• Customers get more things in the various marketing sites, and things are getting difficult in the market. 
• Digital Markets are more competitive, and various choices are available for the consumers.
• Technology can provide greater access to market spaces, especially to disadvantaged groups.
• An increasing consumer base can be targeted.
• Furthermore, social media tools can provide one-to-one access to providers and consumers.

Negative effects of Digital Disruption on Marketing Technology

• Social media platforms monitor their users minutely and can create a database system that compromises the privacy of individuals.
• Privileged members of society can lopsidedly have access to media and advertisements and can impact small business owners.
• The oversight of online business is very limited, and hence chances of scams and frauds increase. 
• Large percentages of cybercrimes.
• Remote working has increased work hours and disturbed work-life balance.

Conclusion

We conclude from the above content that the market is impacted or disrupted due to the technologies. Technology booms in the market in certain ways like E-commerce, 5G speed internet, online shopping sites, and 3D printers, which also have many things available to the consumer. Consumers prefer only technology to do in the market. Ultimately, disruptive technology is here to stay and make nothing. There is no need to be afraid. We just need to understand the needs and wants of customers and create some strategies or policies which attract the consumer to do shopping directly and go to the market instead of using technology.