E-businesses in the age of Information Technology

In this age of information technology, the PR and marketing industry is geared towards many possibilities, considering that the region is undergoing an enormous and massive transformation. The loss of competitiveness of people in this industry, as well as the industry itself, may be able to delay progress and development in the region.  The target of the study is the PR and marketing industry and how will it be geared towards the competitive market. Recently, e-commerce had been widely used with the developments of a number of communication tools that can be employed to reach out to consumers. To be specific, the birth of the Internet also introduced the internet infomercials, In short, the developments in technology have influenced companies and other organizations to try to introduce their products or services in the global arena. In this line, this study will endeavor to critically evaluate the extent to which mobile marketing may impact on a company’s value chain.

Flat design vector illustration. E-commerce, shopping & delivery

The rapid development of e-businesses has started in the late 1990s, when the role of Internet has grown enormously, and the first moves towards media convergence were made. E-businesses were rising as both fully digital projects (Amazon.com, e-bay), or as elements of off-line international enterprises (e-banking, e-shops of famous brands). Therefore investments in the sphere increased rapidly.

There are two main types of e-commerce – the one that is solely digital, and the one that exists only as an element of an off-line entity. The first type of e-business entity exists only in the digital world and can provide customers with any type of goods or services: furniture, music, books, hairdressers, and jewelry to name a few. These companies may need off-line space only for offices and warehouses, or may even need no off-line space if they sell digital goods (music, software). The second type of companies named is created as a spin-off of an off-line business. It all started with businesses making use of technology such as Electronic Data Interchange (EDI), Electronic Funds Transfer (EFT), and the invention of online shopping by Michael Aldrich in 1979. Serving at first as only additional elements to the off-line “mother ships”, the on-line entities have greatly developed the number of functions and possibilities over the decade. Currently, there are two main tendencies: while off-line companies are moving towards virtualization, the on-line ones establish off-line elements. Hence, the business element of Internet grows stronger with years, and currently, e-businesses are even more popular and successful than the off-line ones.

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The target groups of consumers for this companies are heavy recreational computer users. They typically have used computers for three or more years. They have already used a commercial on-line service and have used at least several products extensively. They also tend to buy new products from time to time, if not regularly. While the target group is increasingly buying products at retail outlets, many (especially those that tend to use their computers the most) buy their products through mail-order catalogs and quite a few order at least some products directly from the vendors. Even when buying products in retail outlets this group tends less to buy on impulse and are more apt to be looking for a specific item on which they are pre-sold. This group is most likely to be pre-sold by editorial coverage in computer publications such as reviews and product announcements and by word of mouth. Because this audience is exposed to so much information about so many competing products, it is most likely to decide on a particular item as a result of multiple exposures to information about a product—often from different types of sources. Hence, a marketing plan should determine what type of customers it will next be targeting and the reason why it is targeting those specific customers. Details on how these customers will become attracted to the products or services should be included in the plan, as well as how these specific marketing strategies will help keep and maintain the loyalty of existing customers.

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Customers are the number one priority within a company, and how the company will attract customers is the number one priority within the marketing plan. Moreover, pricing of the products should also be in accordance with the marketing objectives, the customer’s acceptance and the competitive position in the market. These considerations could create a good competitive advantage for the company. Thus, when a company sets its price, it also aims to attain certain price objectives. Pricing objectives include increasing profitability, increasing sales, gaining market share, eliminating competition, promoting an image of quality or service, discouraging any new competitors from entering the market, being accepted as a price leader in the market and restoring order in a disorderly market.

The Future of Ecommerce. At Content & Commerce Summit 2016, DigitalMarketer sat down with 10 ecommerce experts to find out what is on the horizon for ecommerce business owners and marketers. Watch the video below:

 

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Customers are the number one priority within a company, and how the company will attract customers is the number one priority within the marketing plan. Moreover, pricing of the products should also be in accordance with the marketing objectives, the customer’s acceptance and the competitive position in the market. These considerations could create a good competitive advantage for the company. Thus, when a company sets its price, it also aims to attain certain price objectives. Pricing objectives include increasing profitability, increasing sales, gaining market share, eliminating competition, promoting an image of quality or service, discouraging any new competitors from entering the market, being accepted as a price leader in the market and restoring order in a disorderly market.

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2 thoughts on “E-businesses in the age of Information Technology

  1. True. Selling on your own site lets you control how your products are represented, while third-party sites offer a network of customers.

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  2. Good article. Additionally, the road to creating a successful online store can be difficult if unaware of e-commerce principles and what e-commerce is supposed to do for your online business. Researching and understanding the guidelines required to properly implement an e-business plan is a crucial part of becoming successful with online store building.

    Like

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