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While during an era of introduction of internet technologies in the
business world, it was well evident that every single phenomenon of
business is going to be impacted by IT in future. However, it was never
accurately estimated that to what extent this change will occur. Still
after so many years, most of e-business trends go unrecorded but
prominently there are three trends which represent the overall effect of
internet technologies on businesses.
- Altering of Marketing Trends
- Transformation of organizations
- Redefinition of businesses
Traditionally, marketing and particularly promotion was done through
either electronic or print media. E-business has improved promotion of
products and services through direct, informative, and interactive
contact with customers. Apart from promotional methods, formation of
innovative distribution channels for current and upcoming products has
also become possible. With use of bidirectional mode of communication,
organizations have got a direct access to their end consumers. In
addition, delivery of information to customers over the internet has
resulted in sizeable savings to organizations, when compared to
conventional promotional methods. Customer service has also been
enhanced with facilitating customers to find detailed information over
the internet. Furthermore, e-business has provided for customization of
products and services, in contrast to buying from a store or ordering
via a television, which is usually limited to standard products.
Fast growth in e-business has, obligated companies to become
accustomed rapidly to fresh technologies and presented them a chance to
research and develops new products, services, and processes. Moreover,
the nature of work and employment have got transformed in this digital
age; driven by augmented competition in the global marketplace, firms
have also reduced the number of employees down to necessary staff and
outsourced different sorts of work to entities which can significantly
do the same in a considerably less expensive way.
E-business has allowed, for new products and services to be launched
and/or for existing products to be tailor-made in innovative ways. These
ways have not only affected individual companies and their offerings,
but the entire industries. All these development have finally led to the
use of new business models, based on extensive accessibility to
information and its direct distribution to consumers.
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