It is very important that an organization considers its environment before beginning the marketing process. In fact, environmental analysis should be continuous and feed all aspects of planning. If your government is socialist then perhaps there is a policy to tax more and to invest in the public sector. On the other hand if you have a more conservative or Republican government then the free-market is left to take control, taxation is less and there is often a smaller public sector.
Technology products can get expensive, as the population of young adults continues to age they will begin to have the necessary disposable income to purchase the products as they change with time. What this means is the older population simply turns products over faster because they have more money.
Economic Trends- The information technology Industry is one of the fastest developing markets in the United States and is a key factor in driving the growth of the economy. Information technology, and the hardware and software associated with the IT industry, are an integral part of nearly every major global industry.
The information technology IT industry has become of the most robust industries in the world. IT, more than any other industry or economic facet, has an increased productivity, particularly in the developed world, and therefore is a key driver of global economic growth.
Economies of scale and limitless demand fro m both consumers and enterprises give a snapshot of this rapidly growing sector. Economies of scale in the industry means that the marginal cost of each unit of additional software or hardware is insignificant compared to the value addition that result from it.
The IT Industry is knowledge-based; therefore efficient utilization of skilled labor can lead to a rapid pace of economic growth. Political Trends- This past presidential election was posed to be very impactful on the information technology industry.
The so-called Bush-era tax cuts, which are set to expire, next year, are integral to technology investment. According to the study, 60 percent of IT leaders say that if the cuts are allowed to expire, investment in the technology sector will decline.
Obama will allow the cuts to expire, while Romney would probably have extended them realizing how important the Industry is to the sustainable growth of the country.
Looking at market opportunities, DLA Piper found that IT respondents ranked mobile computing as their biggest future opportunity. Most respondents believed that even if Obama was elected, the Industry is far too powerful and growing too rapidly for such a policy expiration to cause any detriment to the sector.
People like to be seen with the latest and greatest in information technology to look as though you are ahead of the game. You are seen as being cool and a trend setter if you have the newest computer or tablet.
It seems to be a generational wide trend to be on the technology bandwagon. The trend also seems to be that smaller is better. This seems to be the trend industry wide now for the most part.
In the automobile industry the cars are getting smaller, the telecommunications industry the phones are getting smaller. It has been shown that these resources we have are limited and are not going to be around forever. Not only does it take up resources to create computers, but once they go outdated, which could happen overnight, there needs to be a way to dispose of them.
It used to be in the United States, we could give our older models of computers to developing nations, but now they even need to dispose of outdated computers.
The actual manufacturing of computers is very material intensive. The total amount of fossil fuels to make one computer is equal to almost ten times what the actual computer ends up weighing.
Computer manufactures are now trying to make computers that last longer and can just be updated with the latest software periodically to reduce the amount of waste. Technological Trends- In the industry titled information technology; there are several technological features that influence the industry.
First, technology is growing at a rapid rate, if you look at the past 10, 15, 20 years and look at how far technology has come, it is remarkable.Indian Information Technology Sector- A SWOT Analysis Ashish Kumar, Dr.
benjaminpohle.com Faculty, Management Programme, benjaminpohle.coma University, Darbhanga, India The IT-ITeS industry’s contribution to the national GDP is estimated to The Information Technology Sector in India has to take care of threats and should trap the bundle of opportunities.
A PEST analysis is used to identify the external forces affecting an organisation/making up its Macro Environment. This is a simple analysis of an organisation’s Political, Economical, Social and Technological environment.
"With more than 20 years experience in the industry, this is the first time we have come across such an extensive market analysis for our industry." Ven Cote, CEO, ZCL "The insights we gained from Lucintel work helped with our business plan a wonderful professional job ".
Reading time: 5 – 8 minutes. This is the sixth post in the series on Strategic Planning. Note that you can subscribe to the blog postings . CompTIA’s IT Industry Outlook provides an overview of the trends shaping the information technology (IT) industry and workforce. Portions of the insights found in the report stem from an online quantitative survey of IT industry executives.
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