The information technology revolution
The information age, specifically the advent of the Internet is having a main impact on direction of marketing science and practice.
Digitalization and Connectivity: The flow of digital information need connectivity Extranets, Intranets and the Internet are key drivers of the "new economy
a. Technologies for Connecting
b. The main force behind the new connectedness is technology.
c. Boom in telecommunications, computer and information technology, plus the merging of these technologies, has had a main impact on the way businesses bring value to their customers.
1). by using today's powerful computers, marketers make detailed databases and utilized them to target specific customers with offers designed to meet their particular needs and buying patterns.
2). Cell phones; fax machines, and CD-ROM to interactive TV are only a few of the tools being utilized to make connections.
a). Electronic commerce permits consumers to shop and buy at home.
b). Virtual reality displays, virtual salespeople, and virtual shopping are just a few of the changes that consumers appear to be embracing. The Information Super high way (and its backbone: Internet) will connect customers to companies in ways that were unimagined just a few years ago. Internet is a burgeoning and enormous global web of computer networks, without central management or ownership. The user-friendly World Wide Web has changed us all.
Internet has been hailed like the technology behind a new model for doing business.
- New applications include following:
- Internet--connecting to customers.
- Intranets--connecting to others in the company.
- Extranets--connecting to strategic partners, dealers and suppliers,.
- Marketplaces contain now become market spaces.
2). However, new opportunities abound.