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There is no industry left in the world which has not been affected by technology in any way. There has been a rapid advancement in technology over the past few decades, and specifically the past decade which has empowered consumers by bestowing them with the power of easily accessible information. With the advent of smartphones and high speed internet, consumers are able to find out the attributes of the products within a few moments and compare the products without leaving the comfort of their homes. This rise in consumer power fueled by technology has also influenced the aviation industry.
Aviation industry has held the monopolized bargaining power for a very long time as there is high demand and limited supply. Consumers have been required to pay premium ticket prices for travelling in the past due to their inability to compare the ticket prices or to explore other options at their disposal. However, with the advent of technology, consumers are in a better position to determine whether they will receive the right value for the money they pay. There are online portals which help consumers identify the flight schedules and provide them with updated information regarding the optimum flight schedule for them. Therefore, consumers do not have to spend hours researching the best airline or flight timing for them.
In addition to the consumer help portals, there are review websites where consumers can interact with each other and share their experiences with different airlines. This way, consumers can know the quality of service of an airline beforehand and they will be able to decide whether they are paying the right amount for the level of quality they are expecting to receive. Due to these websites, airlines have attempted to enhance their service quality to gain higher consumer satisfaction because the review websites have become one of the largest driving forces for expanding consumer base. If there are repeated complaints against an airline by consumers, this would largely affect the decision of new consumers for traveling with that airline. Thus, the overall service quality has enhanced due to greater involvement of consumers and the prices have been more reasonable due to reduction of bargaining power of the firms operating in the aviation industry.
It can be concluded that like all other industries, technology has influenced the aviation industry in more ways than one. The increasing empowerment of consumers has made it essential for the firms in the aviation industry to provide quality services at reasonable prices.
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