There’s an old saying that, “two good marketing people can make up for one bad
technology decision.” Is it a certainty that a company will lose out on new opportunities
if it does not keep up with new technology? Explain your position.
Sticky notes were a mistake ▯Marketing people were able to think of a use for mostly a
It is not a certainty but it will increase the chances of longterm failure. Ex. Wine
However it plays a very important role in certain industries. I.e. apple currently combined
with excellent marketing efforts and blackberry has struggled to keep up with marketing.
The nicest wine come from old vineyards and technology doesn’t play a big role in their
success (vintage, reputation, harvest). The company’s success in wine is less dependent
on technology producing quality wine.
Keeping up with the latest technology is a critical component for achieving success as a
business. For example, after the invention of ATM’s, many banking institutions followed
to keep up with the competition. Today, every bank has ATM machines available and
most have them available to customers around the world. It is highly important for
companies to keep up with the everchanging technology because it allows for business
survival. Otherwise, competitors can easily drive these companies out of the market and
it will be difficult to make a comeback.
Could you think of an industry segment where technology may not play an important
Technology plays a role in virtually every industry, but a more significant role in others.
Fresh produce? Grocery stores? Farmers markets?
A writer once observed, “You can watch the size of the Cadillac market shrink by just
reading the obituaries.” In the context of the external environmental forces discussed in
the chapter, what did this person mean?
The Cadillac was historically selling to older people (predisposed). As the people that
own them die off, so does thei