Technology and its Effects

Technology and its Effects

I remember when I was younger and I wanted to see a movie that was in theaters, if my parents decided not to take me it would take almost a year before the movie was available in stores so that it could be purchased and viewed at home. With all of the recent changes that have been occurring with technology in the entertainment industry a movie is available to be viewed outside of the movie theater the day that it drops in theaters. This is not only allowing people to get movies on demand, but it is also hurting the entertainment industry profits.

Today I will be discussing the impacts and changes that technology has made on the entertainment community. Recently there was an article written about how technology is destroying the entertainment industry. The changes that are occurring are not just effecting the visual media portion of entertainment, but the music industry also. The visual media side of entertainment has went through many changes, from VHS to DVD’s to streaming/on-demand viewing. Every time one of these technological changes occur it creates a change in the way the funds come in and go out of the industry.

Netflix was the first to recognize how these changes would effect business and found ways to capitalize on the changes before their company took any drastic hits. Netflix’s started off as a DVD mail order company and in the mid 2000’s went to online streaming, right at a time when online streaming was becoming the next big boom. Netflix is now one of the many companies starting to take part in the trends of online/web-series.

The music industry is also seeing the same changes and effects being caused by technology. It used to be that the artist would go into the studios and record albums or singles that they would then go to the record companies to have produced and distributed through retail outlets. Now with the changes that are occurring artist first turned to digital downloads as a way to keep up with sells and now sites such as Youtube.com, Spotify, and many others are allowing consumers to download whole albums at little to no cost and before it actually hits the store.

So the question is, with the constant changes that are occurring in technology what will be the next big change to affect the entertainment industry, and how much of an impact will it have on profits?

http://thenextweb.com/insider/2013/09/19/adam-leipzig/#!pgPR8

Digital Marketing Defined

Digital Marketing Defined

With the constant changes that are occurring in the marketing industry, it is very important to understand marketing and the digital age or World Wide Web. Traditional marketing is no longer the best way of reaching out to current and potential clients. Today with so many consumers online surfing the Internet for business and personal uses, it's easier to reach them by directing marketing attempts to the digital era. This week we look into how to make marketing in the digital age as beneficial as possible.

One of the sources that we used to create this post speaks of how in traditional marketing, companies simply needed to create buzz about their product or services. Whereas with today’s marketing, companies need to create experiences that keep the consumers engaged. Though it is important to transition to the digital age of marketing, it is important to continue to use traditional methods to enhance all marketing attempts.

“In the digital age, marketers must change their focus from grabbing attention to holding attention by focusing on three core business objectives:” (Satell, 2013). These three objectives are sales, awareness and advocacy. Many companies believe that they can keep their current consumer base by loyalty along, but the source speaks about the fact that loyalty can be misleading. Fully understanding the objectives allows one to understand where their money for marketing should be spent to best improve the business.

On top of learning how to market in the digital age, it is just as important, if not more important, to learn how to effectively use mobile marketing. The rise of the mobile use for online shopping is demanding that marketers learn how to use cross channel marketing. This allows them to use traditional marketing attempts, while still grasping the consumer’s attention through mobile marketing.

Consumers are no longer spending their time in stores walking up and down the aisles, or looking at sales ads to find out who has the best deals. Consumers are now turning to their mobile devices to find out if they can make the purchase online for an equal or lesser price than if they were to go into the stores and stand in lines. The mobile/digital era has not only changed marketing, but has changed the way that consumers relate to their favorite brands.

Davidi, A. (2013, September 11). Effective mobile marketing in the digital age – live discussion.

Retrieved from

http://www.theguardian.com/media-network/media-network-blog/2013/sep/11/effective-mobile-marketing-digital-discussion

Satell, G. (2013, March 19). How to market in a digital age. Retrieved from http://www.forbes.com/sites/gregsatell/2013/03/19/how-to-market-in-a-digital-age/