Among the numerous changes that technology has brought in our lives, internet has been one such development which has drastically changed the way we communicate with each other. The advent of internet had also brought numerous changes in the field of marketing, as internet provides an inexpensive source which can be utilized for marketing one’s products among a wide range of audiences across the world. The new paradigm of internet marketing has changed the way business is being carried out by the companies all over the world. Internet marketing enables interaction between the companies and the consumers, making it possible for the companies to know the response of the consumers instantaneously. Owing to the numerous benefits provided by the internet marketing, the business climate has changed drastically since the dawn of the internet.
Changes in Business Climate
The foremost change that internet marketing has brought in the field of business is the leveling of field. In the age of internet, a small company is placed on a same platform as that of a big company owing to its access to internet marketing. Michie (2006) has written that “One of the great things about the internet is that it has leveled the playing field when it comes to competing with the big boys.” (pg.52). A small company can utilize internet marketing and reach consumers on a global level and attract the attention of the consumers in the same way as big companies are able to do through the other sources of marketing. Another major change brought about by internet marketing is the elimination of borders in the field of business. A company can be placed anywhere in the world but it can carry out its business all over the world owing to the internet marketing. The borders which restricted companies to carry out their business in countries across the world are being removed by the tool of internet marketing. Fletcher (2004) writes that “Because the Internet is a virtual borderless platform on which suppliers….network partners can interact, the Internet enables the formation and maintenance of business network links that would otherwise be curtailed by barriers such as distance, time and limited resources.” (pg.129). The competition in the business world has increased drastically as a result of these changes brought about by internet marketing.
Companies have to change their marketing strategies to thrive in this new environment. They have to adopt strategies keeping in view the changes that are taking place in the world of business owing to the advent of internet. Companies should aim for customer satisfaction through their plans of internet marketing. Gay (2007) states that “As a result, an Internet marketing plan is likely to contain a mix of traditional and new applications but the principal aim of customer satisfaction remains paramount.” (pg. 91). Companies should also plan for the future by analyzing the present trends in internet marketing and formulating their internet marketing strategies based on this analysis. They should plan their internet marketing strategies in a way which will enable them to gain maximum benefits from this inexpensive source of marketing. As the number of people using the internet for shopping is going to increase significantly in the future, companies should concentrate on internet marketing as a vital part of their marketing strategies.
Fletcher, R. (2004). International E-business Marketing. Cengage Learning EMEA.
Gay, R. (2007). Online Marketing: a Customer-led Approach. Oxford University Press.
Michie, J. (2006). Street Smart Internet Marketing: Tips, Tools, Tactics & Techniques to Market
Your Product, Service, Business Or Ideas Online. Street Smart Internet Market.