Identify the impact of technology on a firm. Monitoring new technology is essential to keeping up with competitors in today's marketing environment. The United States excels in basic research and, in recent years, has dramatically improved its track record in applied research. Without innovation, U.S. companies can't compete in global markets. Innovation is increasingly becoming a global process.
1. Give three examples of how technology has benefited marketers. Also, give several examples of firms that have been hurt because they did not keep up with technological changes.