Impact of technological advancement on consumer behaviour

After evaluating the different product attributes, the consumer ranks each attribute or benefit from highly important to least important. With the world becoming a big global community due to technological advancement fuelling connectivity, it has become the need of the hour for companies to engage consumers at the place where they are and to meet their needs at the same place.

Modern technology in taking away industry from the household has radically changed the family organization. But retailers should also be reassured that new technologies present enormous opportunities to foster deeper and more loyal relationships with new and existing customers.

Television and Social Development Television is another technology that has mixed reviews with regard to social skills and social lives. One of the most fundamental models from consumer behaviour theory relates to the consumer decision making process — it also provides a framework to look closer at this 'disruption'.

They also lamented the fact that where they lived, there were no more veterans of that war left. The extent to which purchase intentions result in actual sales is known as the sales conversion rate.

It is amazing how someone can find a long-lost friend through a social networking site, enabling them to reconnect. Many people are involved in an abundant number of relationships through technology, but sometimes the quantity of these associations leaves people feeling qualitatively empty.

To do this we'll need to create a first-party cookie and gather analytical information about your behavior,device and IP address for analytics purposes. Only those companies who realise this can hope to generate leads. This refers to the formation of hypotheses about the products or a service through prior experience or word of mouth communications.

Society is likely on the cusp of a social revolution, during which it will be important to redefine socially appropriate and acceptable behaviors with regard to digital or virtual interaction.

Consider social media — in the past three years we have witnessed the emergence of group buying with Grouponlocation based targeting through platforms such as Foursquare and Facebook Deals now evolved into Facebook Offers and the newest kid on the block in Pinterest — now responsible for driving more sales to retail websites in the United States than Facebook.

Mass media is a powerful technology that is designed to disseminate information to millions of people, and as such it is the primary tool of advertisers, marketers and promoters.

Impact of Technology Change on Society

Consumers can also feel short-term regret when they avoid making a purchase decision, however this regret can dissipate over time. This game seems to be all they talk about. Industry has been taken away from the household and new type of economic organizations have been set up such as factories, stores, banks, corporations etc.

Part of any marketing program requires an understanding of which motives drive given product choices. Then we critically reflect on gaming and television. Consumer behaviour, in its broadest sense, is concerned with understanding both how purchase decisions are made and how products or services are consumed or experienced.

Some researchers suggest that spending a limited amount of time watching wholesome programs can strengthen families and friendships. Technology and Industrialization: Technology has contributed to the growth of industries or to the process of industrialization.

Industrialization is a term covering in general terms the growth in a society hitherto mainly agrarian of modern industry with all its circumstances and problems, economic and social. Consumer Behaviour in Online Shopping. Consumer Behaviour in Online Shopping In recent years, with technological advancement and invention of internet, online shopping has become popular among the online shopping has developed into a new medium of transaction, the numbers of cyber shoppers are increasing significantly (Hasslinger, Hodzic & Opazo ).

Title: The Impact of Technology on Social Behavior The Impact of Technology on Social Communication Abstract This study discusses the impacts technology has had on social behavior.

The change in The purpose of this study is to review literature on how technological advances have. Is it the consumer psychological state, consumer characteristic or bank attributes/technological services?

There are numerous studies on understanding customer satisfaction from the marketing perspective but comparatively psychological explanations of such behaviour are little explored.5/5(6). Technology can have positive and negative impact on social interactions This is an excerpt from Dimensions of Leisure for Life by Human Kinetics.

Does Technology Have a Role to Play in Influencing Consumer Behavior?

Technology innovation that will change consumer behaviour. Below are some of the visibly innovative trends which are expected to impact consumer behaviour in a big way: consumer behaviour.

Impact of technological advancement on consumer behaviour
Rated 5/5 based on 74 review
Technology can have positive or negative impact on social interactions