Internet_Marketing

The Impact of The Internet on Business and Marketing We had a look at how the internet has helped businesses to expand their marketing power and reach a wider customer base .The internet has had a massive impact on the business sector.   Not only has it opened up a whole new sector of the e-business industry, it has boosted sales, advertising, promotion, marketing and innovation in the world of business.  It has also opened doors for developing new client bases and for building on existing customer relations and developing customer loyalty.  It has also been used to help develop management streamlining.  How has the internet made such a huge impact on business'  First of all, it can be noted that the internet has helped companies to save both time and money.  When you consider previous methods of promoting a business that may have included leaflet drops and very many telephone conversations, and then compare this to the simplicity of sending out e-mails or placing an advertisement on a well chosen website, there is no real comparison to make in terms of the benefits to the company.  It saves on costs of man power and telephone bills, reduces time taken to promote the business or a product and reaches a wider target audience. It is also worth mentioning that the growth of social networking sites, such as Facebook and Twitter, have helped businesses to advertise and market their products. For example Facebook, one of the most famous social networking site, estimates that over 1,000,000 people log onto their site every single day.  Using these sites as promotion tools have helped businesses to expand their client base by reaching a larger number of people on a daily basis. Popular auction sites such as eBay have also provided retailers with another way to reach consumers and to sell their products.  eBay is a vastly popular site which sells almost any goods, wither at prices that are set by the seller or open to bids on auction.  Consumers love the ease of being able to buy products from their own homes without having to drive and search around a store.  People take advantage of the modern technology that is available to us today, and this has influenced the way that we shop.   Many businesses use the internet to host their own websites.  Once upon a time this was only for larger companies that had IT specialists with the knowledge of how to start up websites or for companies with a large enough advertising budget to pay for someone to create them a site. Now, this option is available to almost anyone with access to the internet.  Many sites offer free web hosting and will help a beginner to build a website.  Similarly, blogging is used as a way of promoting business and this is equally as easy to access on the internet. No one can dispute the impact of the internet on the global community. Business models Business models are perhaps the most discussed and least understood aspect of the web. There is so much talk about how the web changes traditional business models. But there is little clear-cut evidence of exactly what this means. In the most basic sense, a business model is the method of doing business by which a company can sustain itself and generate revenue. The business model spells-out how a company makes money by specifying where it is positioned in the value chain.