Changing Business in the New Millennium Q#1: How does the internet illustrate the marketing concept in action? Answer: In marketing concept, delivering the products to the consumers according to their needs is the way to achieve organizational goal. Internet is doing this job nicely. Today, people want numerous number of products at the near of their hands. But the traditional form of marketing is no more suitable for consumer groups. That’s why they want easier to achieve of their needed products in one single place.
With the keywords aggregation and convenience, internet has come forward to begin the new millennium of marketing concept. The internet offers almost unlimited shopping possibilities with all desired products of consumers. This enables one from anywhere around the world to get his expected items sitting at his home. One can give special order to make anything for him to the internet seller which he won’t find in traditional market. Thus, in this competitive business world internet aim to do more than just blast the product messages. This helps the organizations to reach people directly and personally.
By making things convenience to the customers, marketers wants to be the part of one’s life. And internet is maximizing this value creating process through the whole marketing concept successfully. Explain how department stores, shopping centers, discounters and warehouse stores created value for consumers? Answer: Department stores, shopping centers, discounters, and warehouse stores created value for consumers. Value for consumers not something just making things better but getting things easily. And all these stores stand for this convenience.
The Essay on Impact Of Internet On Marketing In The Future
Impact of Internet on Marketing in the Future For two decades the Internet has been changing the usual way of doing business: the way to market, advertise, distribute, communicate, and work. By all indications, the development of Internet marketing will definitely continue to proceed rapidly, together with the improvement and progress of Internet services. What effects and implications are ...
Today’s people want more products at one place than ever before. These shopping centers assemble an assortment of many items from different sources under one roof and make them conveniently available to consumers in a single location. These stores provide delivery of large goods across multiple price ranges and sometimes they create value by minimizing the price line. Thus, aggregating the products and making it convenience to the consumers is the creation of values throughout these retailing evolutionary stages (department stores, shopping centers, discounters, and warehouse stores).
Q#3: How do internet sellers such as Priceline. com, NexTag. com, and Amazon. com create value for consumers? Contrast this value creation with that of traditional retailers in question 2. Answer: Internet sellers like Priceline. com, NexTag. com, and Amazon. com create value for consumers by making the assembly of products on the internet bazaar and thus customer can explore it easily and make a purchase decision. This opened a new era for the merchants to carry their businesses at the expectation of their customers. This is called E-commerce.
These sites allow consumers to use dynamic pricing by bidding on items from a list of sellers and their suggested prices. These sites stand either for unique items (collectibles) or for non-unique items (airline tickets).
The success of these online auction sites may allow lower prices for consumers. There are some difference between value creation from internet and value creation from local retailers. The main difference is in assortments of goods. Internet shopping may simply be to make larger assortments of goods available than local retailers can.
The impact of dynamic pricing on the internet may not be to lower prices significantly. Waiting for goods, the lack of personal assistance, and the want of an active shopping experience are absent in online shopping but present in bodily shopping. Once the bid is accepted by sellers on online shopping, it cannot be withdrawn but it is easy in retailer shop. Q#4: How does the internet create value for goods and service producers? Answer: The internet creates value not only for consumers but also for goods and service producers. Now, a huge and increasing number of consumers are exploring the internet daily.
The Review on Consumer buying preferences towards technological goods produced using sustainable business practices
1. Abstract This report shows data on consumer behaviour as primary research and secondary data from literature about sustainability, sustainable business practices and consumer behaviour towards sustainable produced goods. The terms sustainability and sustainable business practices will be examined in more detail. Data gathered from primary research will help to get a better understanding on ...
So, the goods and service producers can do a quick and rapid survey among the consumers for a product about which product the consumers value most and which level of utility consumers want from a product and their pricing demand. Thus, they can produce a perfect value added product with the needs of customers. Q#5: Can a company like Priceline. com sell low-priced items such as groceries and telephone calls? Answer: An internet selling company like Priceline. com may sell low-priced items such as groceries and telephone calls. But these non-unique items can’t get rock bottom prices on the web.
It takes the time for making bid and waiting for the acknowledgement of those products. But in contrast it is not a worthy one for consumer. Thus, many analysts believe that low-priced items such as groceries and telephone calls are not suitable for internet selling. Priceline. com can be the best example of adapting and perishing these sorts of servicing. They had their business of groceries and telephone calls like other items. But since it is not worth one’s time and effort, Priceline. com had to perish these kinds of services from their online shopping business.
So, for the time being, traditional sellers of low-priced items appear to be safe from internet competition. Q#6: How does a firm like Priceline. com exemplify the new model for connecting with customers as explained in the chapter? Answer: A firm like Priceline. com started their business with a new model for connecting with customers through the internet based business model. It is building on the success of online auction sites. At the retailing evolutionary stages, marketing intermediaries assemble an assortment of many items from numerous sources in a single location for making convenience.
The Term Paper on Privacy Consumers And The Internet
Privacy Consumers and the Internet Introduction A trend of great concern is the partnership of major consumer directory services with companies that compile so called public-records databases. Such databases compile records from a wide variety of government agencies, including courts, vital statistics departments, tax rolls, elections records, or agencies that regulate professional licenses. In ...
Consumer examines the merchandise, look at the price and make a purchase decision. But internet merchants adjust this model to a new one. Online auction sites such as priceline. com use dynamic pricing by allowing consumers to bid on items. Most of the goods offered at auction are unique items. But it can be the non-unique items also like mortgages, airline tickets. Here consumers specify the goods they want and the price they are willing to pay and then wait for the acceptance of suppliers. They are not a discount warehouse.
They stands to go when one can’t find a published fare he lives with. So, though Priceline. com inaugurates a new business model, its operations benefits sellers most time rather than its customers. Thus, a new firm like Priceline. com entered into the market for serving its consumers through creation of values of its products with a new business model that works on internet when there is an existed model of marketing concept is continuing its value creating activities in the market.
