Technology and competitiveness

Technology can change what customers expect from every business. If a rival lets people order in seconds through an app, track a delivery or pay with a tap, customers begin to see that convenience and speed as normal. A slower business then feels frustrating, even if its product is good.

Adapting to stay competitive

Competitiveness means being able to keep and win customers against rivals. To protect sales, a business may need to change how it uses technology and adjust its marketing mix — its product, price, place and promotion — so the whole offer still appeals. For example, Riverside Pet Supplies is a small shop whose customers now check stock on their phones before travelling. It adds live stock levels, click-and-collect slots and card payments, then promotes the service to local pet owners online. This makes buying quicker and more convenient, so it can keep customers who might otherwise use a larger competitor.

Opportunity and threat

Technology creates opportunities. It can raise sales because a business can reach more customers and answer their questions faster, and it can lower costs by automating routine tasks, such as sending order confirmations. It also creates threats. A competitor can use the same technology to offer lower prices or faster service, and customers can compare and switch in minutes. Customer behaviour changes too, but not everyone adopts every tool; some still prefer a phone call or a face-to-face conversation, so removing every traditional option can lose sales. The competitive risk is standing still while rivals make buying easier.