Technological influences include the emergence of innovations and their influence on goods, product creation, and exposure to potential industry opportunities. The ever-growing rate of technical innovation is a significant element of the present world (Grewal & Levy, 2020). In addition, breakthrough innovations are being adopted considerably more rapidly than in previous eras. This pattern unlocks immense opportunities for firms that rely on groundbreaking innovations. Thus, businesses that rely on disrupted technologies should be mindful that customers may leave them at a faster rate.
Nowadays, almost everybody has access to at least a wireless technology with internet connectivity. Overtly, these gadgets have a considerable impact on people, as well as their capacity to make buying decisions independently. Mobile technology is driving the innovation of unique devices well as the replacement of obsolete ones. Smartphone firms must always employ cutting-edge technology to function optimally and beat rivals. Smartphone makers must understand how advanced technologies and related applications could help them better serve their clients.
The three major trends in technological factors that may impact smartphone marketing are cloud computing, analytics, and digital reality. A critical factor that has encouraged the demand for cloud technology is the pervasiveness of smartphones. Integrating cellular technology and cloud computing has transformed how people obtain information. Intelligent devices, especially current mobile phones, can support numerous cloud-based apps, allowing consumers to access their data conveniently irrespective of time and place. Nonetheless, mobile phones lack the computing capability and massive storage capacity the cloud provides. Customers can gain from the cloud by merging the flexibility and speed of cellphones with the strength of cloud services. Current 3G and 4G connections and Wi-Fi infrastructures enable improved connection for cloud technology on smartphones. Furthermore, the new 5G technology will propel cloud computing to new heights, further increasing the efficiency and demand for smartphones.
Analytics (or “Big Data”) encompasses crucial concepts and technologies that provide compelling insights into customer behaviors. The essential function of big data is to gather and retrieve large volumes of data in a structured manner so that they may be evaluated and processed more thoroughly afterward. These analyses are fundamental in mobile marketing since they provide businesses with firsthand knowledge of their consumers’ behaviors. This enables advertisers to generate customized messages quickly and effectively, increasing uptake and engagement. For instance, targeted marketing information delivered to a consumer through push notification is related directly to data analytics.
Digital reality is a fast expanding phenomenon, and society can credit cell phones for this trend. Although augmented reality (AR) and virtual reality (VR) began with specialized gear, smartphones are already dominating. The type of media contributes to the advertising possibilities of VR and AR. Virtual reality (VR), which involves headgear, immerses users in a 3-D, digitally created world. Marketers can use this technology to captivate interest, enlighten prospective consumers, increase the pace of product purchases, and, lastly, generate interaction.
Smartphones will keep evolving, even though the rate of progress appears to have decreased significantly. The current smartphones have comparable processing powers and capabilities seen in camera quality, battery capacity, and software experience. Thus, it can be argued that the smartphone industry has reached the maturity stage. This implies that the demand for smartphones will decrease over time. However, foldable phones have the potential to alter how customers interact with smart gadgets. For example, the sizes of these gadgets can be changed to allow users to perform a particular task, such as playing a video. In short, they can be transformed from a tiny handset to a tablet-like gadget when unfolded; hence could drive the demand for smartphones.
Decreased demand for smartphones will not immediately impact the smartphone market. This can be attributed to the fact that many people do not change cell phones frequently because they are expensive. Most users spend at least two years with a single smartphone, some even more as long as they remain adequately functional. The most likely competitor to the smartphone is the foldable phone, for instance, Samsung’s new Galaxy Z Flip and Z Fold series. The main disadvantage of foldable phones is that manufacturers are yet to develop the perfect screen size to body ratio. Additionally, foldable phones are not offering new capabilities that are not found in typical smartphones besides increased screen size. Therefore, their uptake is unlikely to increase in the foreseeable future.
The smartphone market has become increasingly competitive, resulting in a greater emphasis on reliability and consumer satisfaction. Typical entry barriers include research and development (R&D), capital-dependent operations, switching costs, customer loyalty, and economies of scope and scale (Grewal & Levy, 2020). Industry leaders including Samsung, Apple, Xiaomi, and Oppo spend heavily on R&D annually to increase the appeal of their current products and introduce better ones with enhanced capabilities. These firms can continually introduce new and useful features into their current products to curb the growing need for foldable smartphones.
Technological aspects heavily influence the smartphone industry’s expansion. Technology is a fundamental difference in this sector and the main driver of competitive advantage for companies. The emergence of the Internet has been the most impactful digital breakthrough of the previous century. Thanks to the Internet, the world has become increasingly linked and interdependent, with numerous information easily accessible through smartphones. However, the Internet and smartphones are not the only technological advancements that have changed the world. For example, big data gives companies unrestricted access to insight, which can be used to influence customers’ purchasing decisions.
Reference
Grewal, D., & Levy, M. (2020). Marketing. McGraw-Hill.