Electronic commerce as the concept of marketing Essay

Electronic commerce as the concept of marketing - Essay ExampleElectronic commerce as the concept of marketing Information technology plays an important role in the development and growth of industries of any economy.. Incorporation of information technologies has changed the business process of every the industries whether they are small-scale or large scale. It has entirely changed the aspects of market competitiveness in terms of products and processes. The amalgamation of information technology into business sector recompenses for size of it and distance and enables companies to expand and to work in a global market. Using new innovative tools and techniques of information distribution, they can no longer be quarantined from international market. Such technologies includes electronic/video conferencing, mailing, tele-conferencing, electronic commerce, electronic assoilworking etc. Internet is pool that can be used to access any descriptor of information without compensating on quality, legal and regulatory requirements, fiscal regulations and opportunities. It becomes very simple and easy to attain, collect any kind of information on technologies and markets with the use of conglomerate networking components. The acquired information can be used as a source of analysis to increase the productivity, profit and market share of the enterprise. The information is accessible with in a few seconds.Evolution in the world of computing and in the era of communications takes the form of global information networking. The net result of this innovation is that it decreases the cost, the prison term for collection the required valuable information no matter how far that information is. Along with this, the ability to collect, analyze and the frequency of transmission of data has intensify extremely. Local knowledge can be assimilated, distributed among economic agents and then can be merged with global knowledge to give the valuable piece of information. The net effect of all these activities and use of communications technology has drastically decreased the transaction costs expedite the triumph of scope with the familiar rapid and constant customization. Such transmissions undermine authoritative controls since the hoarding of information is no longer possible. For all the Internets promise as the consummate commercial marketing vehicle many an(prenominal) companies are skeptical of their ability to accurately judge the return on their cyberspace investment. The development of internet-based technologies opens endless opportunities for Marketers. Drawing coop concentration to the ethical facial expression of the use of web-based technologies in the area of business might comprise of differentiating force for proactive firms. So, eCommerce is everywhere whether it is e Mail and messaging or shopping pressure or order processing system or domestic or international payment systems. But in this rapidly changing environment of e business, business executives need to react immediately and sufficiently by converting their traditional business strategies to e-commerce processes. In doing so, they must assess opportunities and threats by examining closely the economic, demographic, political, cultural and technological factors that affect businesses trading online. Economic FactorsWith the emergence of whole world as global market, the significance of e