The Internet the New Market essay

The Internet the New Market essay

The internet is a system in which information is availed online to meet educational, business and economic needs of users. In this system, different firms manage websites which are hosted online. The websites are freely accessible to any visitor across the world. Some firms may require users to register in the website to get access to any help provided by the host company.

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All companies have gone online to reach many consumers because it is apparent that currently, many people are techno-savvy. The main purpose is to market their products to many internet users. This has turned the internet the new market. I will discuss the concept of internet marketing, the advantages and disadvantages which firms derive from using the internet as the new market.

Many firms prefer the internet marketing because they believe many people in the world are techno-savvy. This can be proven by the fact that many people are currently using the internet as a result of need to socialize on the internet in social sites. There are several websites which contain information about different products and services. Some websites may prompt any visitor to register hence the visitor gives personal details to the hosting company. Form these personal details, the company can retrieve the persons contacts for example email addresses of the visitors or person and thereafter send the person emails containing information about is products. Most of such emails are what we receive as spam in our email accounts.

There are several advantages when using the internet as the market place. An organization has access to many consumers by using the internet. There are high possibilities of making more sales by informing people about your product. There the more you reach many people through online media, the more you make sales. Secondly, companies can reduce the cost of marketing by using the internet to market their products. Comparing two firms undertaking marketing of their products, one using the traditional efforts and another using the internet, the cost of hosting the internet to reach many is less than the other.

Market research has been made easy and cheap. Firms can undertake surveys online to determine the needs of the customers and developing market trends and implement changes in their products and services to meet the needs of its customers. Some products are currently sold online, for example in writing services, customers can log into websites of the any company offering such services and place orders for any term papers or essays. The company delivers the term paper to the customer through the email; hence, the cost of managing the transaction is significantly reduced.

The main disadvantage of the internet as the market place is that consumers tend to doubt products which they can not physically see and touch. They may think such products may be of lower qualities than what is presented on the internet. The internet as the new market has made business risky; changes technology and needs of the customers pose risk trading grounds for every company.

Conclusion

Embracing changes in technology can improve the performance of a company’s product in the market. More marketing strategies can be learned by organisations if they use internet marketing. Companies should adopt strategic marketing moves to be able to reach more customers than their rivals in the industry they operate.

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