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Word Count: 556
The technological environment is undoubtedly the most dramatic force now taking control of our future Successful organizations find ways to apply advances in technology in innovative ways to keep attracting consumersTechnological advances have gotten consumers accustomed to speed With the Internet and smart-phones being so swift we can search for whatever we need immediately like online shopping Retail must compete with the convenience of online shopping and use advanced electronics to cater to consumers Retail has adopted innovative systems for checkout scanning inventory tracking merchandise handling information sharing and customer interactions Many retail stores have their employees carry a shopping assistant hand-held to interact with costumers quicker For example Lowes developed two custom iPhone apps for employees and one for customers The Lowes employee app provides employees with vital product information and a bar code scanner for purchases Lowes consumer app provides costumers information regarding prices reviews store location how-to videos and gift card balances Lowes is just one example out of thousands of companies who have adopted this technology and use it in their stores daily New technologies can offer exciting opportunities for marketers For example a new technology in the works is a radio-frequency identification RFID transmitter This is loaded with information embedded in every product you buy As you fill your cart with products at the store scanners can detect what you are buying and can make more similar suggestions through your smart-phone As you are leaving the store exit scanners total your acquisition and automatically charge your credit card Something like this sounds so innovative and a few years ago people might have thought this was nearly unfeasible but this soon may become a reality The technological environment is always evolving For example many of todays common products were not obtainable 20-30 years ago Even a few centuries ago there were no planes cars or even electrical light Try to imagine living without any of those items today New technologies create
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