5 Easy Steps Towards Competing in the International Technology Arena
Technology is the bread and butter of thousands of companies worldwide. Yet seldom have we seen a newly established company to make it to the big league and provide their technology services successfully to the public. One thing is for certain. Today’s technology companies did not initially start off as globally renowned successes. So what led these one-time small timers in the technology arena? Let’s find out together.
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According to our professionals at Maadico, there are 5 very easy steps to transform your company to a global technology pioneer. Let’s discuss them:
Keep updated in technology.
Many technology companies around the globe have the tendency of keeping themselves in line with their legacy. Companies like Panasonic and Sony had been the pioneers of technology for a long time but began to go mainstream as they began to lack innovation in their productions and ended-up becoming followers behind the technological boldness and innovations of Korean countries such as Samsung and LG. in order to keep-up with the fast pace of innovations in the world of technology. If you already have something to say in the arena, do not keep your products mainstream. So in order to get ahead of your rivals in the technology arena: Do not keep yourself mainstream.
Think global, not local.
In many countries, there are technology companies which had been established long before the technology giants we see today, yet they are now limited to montage work at best. The reason behind this is because of the high price of foreign commodities in some countries. Consumers may think twice before spending a large sum of money on foreign products and would have to live with domestic products which due to a large following of desperate companies find it unnecessary to update their products in accordance with the world’s latest technology. When exposed to international competition, a company will re-think its domesticated approach towards technology to not be left behind in terms of profits. This will have a positive effect on said companies and will lead them towards being able to compete in the international technology arena.
Analyze the latest rival products
Companies across the world spend millions of dollars every year on thoroughly analyzing the pros and cons of the products of their rival companies. This will not only give the company an insight on what they are up against, but also enables them to take out the strengths and weaknesses of their rivals in order to present a better alternative technology to the market. In long-term this will lead smaller companies gaining the advantage over their rivals and slowly but surely making their way to the top of the food chain.
Invest thoroughly on Advertising and Marketing.
Having introduced the Razr Model in 2004, little did Motorola know that their phone would be on its way to becoming a worldwide phenomenon. There were a large variety of options back then since the smartphone business hadn’t yet taken shape, but the intriguing dance videos and its hipster vibe back then captivated the attention of the members of generation X. the phone itself wasn’t that substantial. From bad reception to bad file transfer speed it was far off from its rivals in terms of technology. Yet it manage to steal the hearts and minds of the people due to its smart and sophisticated marketing and advertising policy.
Do not go too far in technology
Technology is a very illusive entity in the minds of people. Throughout the years of technological breakthrough in the 50s and 60s there were many products which struggled to win over the mind of the customers perhaps by simply being too advanced for their time? A case in point would be the microwave oven. Introduced in 1955, it was deemed too expensive and too heavy for its time and with a negative publicity campaign, the technology remained unsuccessful due to it being thought as cancerous which led its original inventor Percy Spencer to the verge of bankruptcy. It wasn’t until the 1980’s after thorough experimentations and marketing campaigns that the microwave oven was introduced as a new technology by Japanese Sharp Corporation and went viral across almost all countries in the world.
So there you have it. The easiest possible steps towards turning your company to a worldwide success in technology. We at Maadico Offer a wide array of services related to the agriculture Industry. we help your company with its agility, marketing and sale, Sustainability, Digitalization and more. Contact us below for more elaborate information.