This has brought with it several positive impacts such as reduced cost of advertising and convenience in doing business; however, there have been a few negative impacts as well including easier anonymity for criminals and a faster and wider spread of false stories. This report will look at the growth of E-commerce and internet marketing and evaluate their total contribution to the economy as well as the negative impact they have had. Procedure This research employed the use of secondary research method that involves finding of relevant literature related to e-commerce and internet marketing. Therefore, this research involved finding information in scholarly databases and academic libraries, supplemented E-books and online sites that provided relevant and credible data. Secondary research has the distinct advantage of availability of pre-recorded data, which also means a lower cost of doing research. It however bears the risk of data being outdated and finding the data required unavailable without a means to conduct a study. Findings The US government began tracking internet sales in 1999 when they only accounted for 1% of all sales done within the country. Since then, internet sales have had an astronomical growth with an average rate of 92% annually. Traditional forms of doing business have been overshadowed by online commercial activities. One of the fields that has benefitted immensely from E-commerce is the travel and hotel industry where making reservations and booking travel tickets has been made more convenient. As of 2000, E-commerce was responsible for 24% of all transactions in this industry (Khattree and Rao 2005, p.525). Although used in almost all fields, some industries have experienced an exponential growth in the use of internet marketing and sales. The hotel industry is one of these industries that have experienced a significant growth in use of online marketing with a 70% increase in its application as of 2007 (Harris 2008, p. 35). Success in it heavily depends on an online presence and, E-commerce has contributed significantly to the industries growth and has aided new companies be competitive who otherwise would not have been able to afford the advertising rates of traditional modes of advertising. Internet marketing has been of great benefit to small and medium sized enterprises. As compared to the traditional methods of marketing, internet marketing allows for building of social networks. Online marketing allows for the business to have a personal touch as one can communicate directly with the manager via e-mail (Linton n.d.), this is crucial for the development of these businesses which do not have brand recognition as it wins them customer loyalty which is crucial for them since they cannot have price-wars with their larger competitors. E-commerce has changed the way different industries provide their services one of them being the medical field. The creation of websites such as WebMD has resulted in provision of highly specialized services being accessed even in remote areas as well as around the globe. This has resulted in better overall health and has been beneficial to doctors who do not have to travel to remote areas to provide medical care. The use of E-commerce has also meant that retailers get more details
An Investigation of the importance of E-Commerce and Internet Marketing Name Professor Institution Date Introduction E-commerce is the use of electrical systems to conduct business, it is the online purchasing and selling of goods and services and it has become a vital part of our daily lives as many large transactions are conducted online…
Increasingly, technology is shifting the organization’s associations with its customers from a "face-to-face" to a "screen-to-face" communication. The Internet is not an innovation that concerns only one or two sectors of the economy. Because it revolutionizes the way businesses should prudently systematize their activities and go to market, the Internet affects all economic commotions.
Based on this finding, the recommended strategies for Fish Field are revamp of website, placing ad banners, creating Facebook page, creating company discussion forums, introducing newsletters, search engine optimization and discounts based on the customer category.
In such cases, information technology has to do with the operation of computers, as well as the use of computer software for processes such as converting data, protection, storage, and the retrieval of information. More than any other sector, the banking sector has implemented various functions of information technology to ease the process of providing services for customers in varied locations.
A life insurance company moves from a brick and mortar business to an automated environment, in which strategic leadership is very important. The leadership team may need to evaluate: strategy to deal with channel conflict and assess type of products suitable for web distribution as well as techniques to strengthen customer relationships.
As this quote suggests, Internet has been very popular within businesses. Increasing use of the Internet, as well as rapid development of associated technologies is leading to the growth of e-commerce as well. With the popularity of Internet the concept of e-commerce is used by more and more companies today.
The term e-commerce includes the buying and selling of products or services exactly like that in a conventional marketplace but with the only difference is that it is purely conducted online. By saying that it is conducted online, it is meant that the facility of the Internet can be used or that of other computer networks.
The idea that the Internet plays a very important role in our live and modern business is very tightly connected with the Internet and its business strategies and cannot manage without it is an interesting one. This issue is increasingly important in this age of information technologies development and Internet prevalence in all spheres of our life.
The mixture of traditional marketing and commerce and Internet services creates a new form of marketing: e-marketing and e-commerce, that are the most common marketing tools for compnies these days. This theories were not only analyzed in this essay, but also its modern and future possibilities, operations, effects and issues were compared.
While there are literally thousands of websites out in cyberspace promoting, selling and advertising their products, some are better than others. Perusing the Hall of Malls webpage, I was struck by the
With the rapidly advancing technologies that are occurring in modern business, organizations are required to be ready, and able to adapt to their ever-changing environment. It is true across all diverse industries that in order to stay competitive, organizations must be able to utilize the various tools that technology has to offer.
11 pages (2750 words)Essay
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