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Modern Innovations

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Technology has introduced seismic shifts and greatly altered the consumer behavior. Marketers sticking with the traditional marketing behavior are bound to fail. The world’s leading multinationals are using the huge quantities of data to monitor and assess organizational progress in real time. Advertising has been redefined. Modern advertising entails personal connection with clients through the use of mobile applications or software. Computing power has introduced cloud-based analytics through the use of predictive tools. Sales and interaction channels are intertwined at a cheaper cost.

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Modern innovations can relate competitive offering to economic performance while checking the impact of the ads. Market performance is increasingly depending on data-driven insights (McConnell et al, 34). Microeconomics deals the organizational strategies that lift performance and productivity (Nichols, 2). Marketing has a profound effect on organizational revenues. Attribution is the process that quantifies the contribution of every element in advertising. The article sheds light on the impact of microeconomics, especially on marketing. Organizations need to have functional and organized databases for marketing to become effective. Detailed organizational data is crucial in assessing the impact of using various media in the process of marketing. This happens through the use of sophisticated analytics aided by modern technology. This makes it easy to track customers. Technological marketing analytics assesses the impact of social media, TV ads, mobile applications, and in-store promotions (Nichols, 3). Through the intense and detailed technological analytics, it becomes possible to indicate the amount of revenues raised by each medium of adverting.

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The content of the article reinforces the principles of microeconomics. This knowledge causes organizations to optimize the most productive means of marketing. Analytics play a crucial role in developing what-if situations when launching new products (Nichols, 3). Modern marketing is changing rapidly from market to market. Allocation entails using attribution and war games to measure organizational outcomes and make the necessary changes. Online and off-line spending shifts in brand promotions have boosted organizations’ revenues in the last few years. 

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