Technology and Marketing
In 20/20 Vision, future consumers were described as sophisticated consumers who are educated, wired professionals with some significant disposable income. Technology, including the Internet, will continue to play important roles in their lives. As consumers, these people will have a lot of power. Information will be available to them from a variety of sources, and it is likely that these individuals will use these sources. Elderly Americans will make up a huge part of the population due to the extended years of life people are living. Many others will be immigrants from another country. Right now, there are approximately 30 million native and non-native Hispanic residents nationwide. This number is expected to grow to 53 million by 2020, and the median age of these immigrants will be younger than average.
Many cultural and technological changes are predicted to occur as well. Instead of closing the boarders of the United States into Mexico and vice versa, we are going to be inviting people to move into our country to take the jobs that we do not want. Many immigrants that will move into the country will lack the technological skills that will be demanded and will be willing to take these jobs. However, those who do not have the skills will also be lacking the money. Therefore, we will form an hourglass economy; the rich will continue to get richer and the poor will continue to get poorer. With more undereducated individuals migrating to the country, there will be a growing demand for communities to get involved in education programs through their local school systems and churches. Money will need to be raised in order to purchase the must - have computer systems/upgrades, books, and local civic organizations. Transportation will be increasingly expensive; it will be necessary for the public to provide shuttle services for its customers and employees. These individuals will seek to work for companies that inspire loyalty among its workers and its customers. Bottom line: technology will be an essential factor in people's lives and will need to be available to all consumers.
Technology will have a great impact on society and its daily functions. Many people will be using the Net and other resources to do everything from grocery shop to buying cars. There will be a continual elimination of the "middleman," and speed and efficiency will be very important. The walls of factories will be broken down and any business that plans on surviving needs to recognize this change. Companies will need to have a real understanding of their consumers' as well as their employees' needs beyond the obvious offerings of the company.
The information describing the changes of future consumers is vital to marketing managers. This information is relevant when evaluating customer characteristics and their needs and wants. It is apparent that technology will continue to grow in importance in the future, and more individuals...