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We can say with confidence today that the markets are no longer as they were before, they are quite different from what they were 10 years ago. Today there are far more opportunities and challenges than they have been for years now, resulting from the behavioral changes caused by the technological evolution of the world since the beginning of the century. In this article we will highlight the most important features of modern marketing in light of changing markets and consumer behavior.
Social and Informatics Networks: The modern technological revolution has helped create a new era that is called the Information Age, which has developed the possibilities to reach a higher level of targeted targeting and the formation of well-targeted production as well as appropriate pricing strategies.
Globalization: Technical advances in transportation, navigation and communications have made it much easier for companies and institutions to market their products and services anywhere in the world, and consumers can access and reach the services and products they want anywhere in the world. All this is because the world has become like a small village that can be easily navigated. This is also what we are witnessing in the labor market, where companies and institutions now find it very easy to employ large and multinational workers from different countries, which led to the emergence of new types of companies such as multinational companies!
Market liberalization: Many countries have liberalized industries from all constraints to create greater competition and greater growth opportunities. For example, in the United States, all restrictions have been lifted and many laws on financial services, electricity and telecommunications services have been abolished in order to create a competitive spirit that will help the market move quickly and create high value while maintaining moderate prices.
Privatization: Many countries today have turned public companies into privately owned and managed companies to increase their efficiency and production rate. This has happened with companies such as CTC in Chile and British Airways in the UK. Transforming these companies into private property, freeing them from the constraints of red tape and general neglect to the spirit of market competition, high productivity and efficiency.
Increased competition: The sharp competition between companies has increased the costs of marketing and reduce profit margins of producing companies. Also, the producing companies themselves are suffering from the marketing of their own retail centers. As a result, most companies have expanded and expanded to include a large base of products and services to optimize the cost of marketing, creating a higher level of competition between companies.
Confluence of Industries: Now the border between industries is virtually non-existent and is rapidly disappearing over time as companies continually try to explore new opportunities in overlapping areas and engage with industries and other areas they may be involved in. For example, if the mechanical and electronics industries are clearly intertwined, companies such as Apple, Sony and Samsung are launching a large stream of entertainment devices such as MP3 Player, Plasma TV and other devices supported by modern digital technology.
Consumer purchasing power: Because of the great interaction and interaction between people and companies over the Internet, consumers have increased their purchasing power both from home and office, using their mobile phones and computers to compare many products, prices and characteristics to choose the best ones. You can also order those products online from anywhere in the world at any time during the day and throughout the week.
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