Modern Technology Marketing Strategies.

Purpose - Most entrepreneurs typically predict the future, and thus, determine their business strategy by extrapolating historical and current trends. However, this is an especially risky practice in times of rapid and radical change in information and communication technology (ICT). The aim of this paper is to draw lessons from two case examples of proven success built on skillful deployment of social media. Design/methodology/approach - The paper presents two case studies: one short, describing the imaginative use of new media to promote a small-town furniture store in the US; the other longer, demonstrating the significance of a wide range of social media initiatives in the election of a long-shot candidate to the US presidency. Findings - To maximize the potential of ICT and cope with perpetual change, business leaders need to take the necessary steps to adapt to changing business realities. They must consider making less precise predictions about the long-term future and be willing to vary strategy more often, as new technological advances become available. Practical implications - When the past is no longer the primary basis for future strategy, and some leaders seem stuck in the past and what used to work, the paper urges strategists to take three simple steps to bring themselves to the cutting edge, and then to create a high-level 'ICT champion' who will foster an organizational learning culture. The thrust will be toward open-mindedness, lateral thinking, strategic experimentation, and innovative strategic planning. Originality/value - Analysis and discussion of two case studies yields valuable guidelines for the effective use of complex technologies in times of rapid and radical change. [ABSTRACT FROM AUTHOR]