Technology is a term that ignites passionate debates in many circles these days. According to some people, technology have been instrumental for environmental destruction and cultural fragmentation whereas some others view that it has been the main cause to economic and social progress. But no doubt it has released wonders to world such as penicillin, open-heart surgery, family planning devices and some other blessings like automobile, cellular phones and internet services etc. It has also been responsible for hydrogen bomb and nerve gas. But the businesses that ignored technological developments had to go from the world map. For example, in India, cars like Ambassador and Premier had to go from the scene because of obsolete technology. Likewise, containerized movement of goods, deep freezers, trawlers fitted with freezers etc. have affected the operations of all firms including those involved in seafood industry. Now it has been ensured that perishable goods can be transported in a safer manner. Explosion in information technology have made the position of some firms vulnerable. The life cycle of the products has reduced and expectations of the consumers are becoming higher and higher due to all these technological changes. But to cope up with this kind of scenario, a continuous vigil of the happenings and adequate investment on R & D department is to be earmarked by the marketer. Marketers must also be aware of certain government regulations while developing and launching new products with latest technological innovations.
Technological environment is a component of macro or indirect action environment.
Technological environment changes very fast.
Technological environment affects the manner in which the resources of the economy are converted into output.
Technological environment is self reinforcing. An invention in one place leads to a sequence of inventions in other places
