Information Technology for Business - Scenario analysis - Essay Example

Podcasting has risen in terms of popularity and is still in the stages of infancy. This early stage in which the technology is currently places provides a lucrative opportunity for innovative firms to capitalize upon and develop devices as well as tools that may make it easier for consumers to use and allow companies to consider as a credible medium to enhance their businesses. One of the most important benefits of podcasting is that it allows information to be dissipated across in an effort to educate and influence audiences on a global scale.

The possibility to download content allows users to be able to access the content whenever deemed necessary in addition to the advantage to be able to play any part of the content as required. Podcasting is an ideal avenue to generate revenue through sponsorship and advertising (Michael Woodland Geoghegan, Dan Klass, 2005). Companies recognize that marketing forms a vital tool of modern businesses and firms spend billions of dollars worth revenue just to promote the product within its customer base.

Marketing experts such as Paul Campbell of Effective Podcasting acknowledges that Podcasting is being perceived by the industry as a new and encouraging opportunity for businesses and forecasts the podcast related market to grow by as much as 1000% over the coming 4 years. Podcasts are advantageous for businesses given the versatility and variety with which they can be developed as also the fact that podcasts can represent any kind of business or market segment with different and exclusive content.

The latest technology in the development of Podcasts has helped companies advance from merely spamming their customers with unwanted advertisements and newsletters, thereby invoking the ire and lack of concern among customers for any such style of promotion. Podcasts provide a workaround from this ‘push promotion’ by enabling users to be able to listen to podcasts depending on their