Free «The Digital Economy for the Automobile Industry» Essay Sample

The same way technology has changed our lifestyle nowadays, so is the emergence of technology into the industry of automobiles or automotives. Many automobile plants or companies nowadays possesses technology like the basic conduit which controls it processes such as production in which it has improved production efficiency, well respected brands and quality. Technology like digital has had many impacts in the production, development and innovations in the industry of automobiles. Given the success in the utilization of digital technology in the production and design of automobiles, there is widespread recognition in the international markets of the best automobiles like Toyota which is the common car in the world. Thus not only does digital technology enhance international market development but it also helps in developing a brand product of a company.

The digital economy differs greatly from the old fashioned marketing industry in which products were sold from the company‘s base. In the digital economy markets differs n that the technology involved has changed the trends involved in marketing. With digital technology products and goods can be sold through the internet, advertisement or through other communication methods available. Therefore digital economy in utilization in the automobile industry is growing day in day out as it is depicted by the various trends ruling the business world. Example is where one can use his/her Smartcard credit to pay for goods online, use Smartphone to carry out business transactions.

Even though the digital market and economy is new and dynamic, the old rules still apply on how to regulate the business processes. As the business becomes more dynamic, regulation trends for the digital economy are emerging dynamically governing the digital business like E-Commerce, E-Signatures which cannot be easily forged. Security laws, trade regulation compliance, and tax regulation compliance all can pose challenges to digital economy but technology is proving to develop more legal measures in the management of the digital marketing and economy trends.


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