The Impact of the Internet and other New Technologies on the Practice Of Marketing - Coursework Example

The paper "The Impact of the Internet and other New Technologies on the Practice Of Marketing" is a perfect example of marketing coursework. Internet and new technologies have been a boon to marketers and have revolutionalized the way business models and strategies are developed and implemented. It has become much easier to get the message across to clients. Customers are also able to pay for the products in a very convenient way and the same is shipped with very little inconvenience. It is therefore important that more and more business persons embrace the advent of the technology so as to remain relevant in the highly competitive world of business. Customers are usually concerned about saving time and convenience whenever they are engaged in shopping.

Life in the modern world has become so fast-paced that there need to have people and technologies filling in the gap. The idea of ordering and paying for goods and services at the touch of the button is very attractive to a good number of people who have come to appreciate the value of technology in making life which seems to be complex to become a little bit more livable. There is also the negative side of everything and such technologies have also got their flipside. It is therefore not surprising that incidents of fraud have increased and there are people who have had their hard-earned money wiped by 'smart' thieves. This means that internet developers and those who engage have to be continually innovative so as to stay a step or two ahead of cons. The essay examines the impact that the internet and other technologies have had on the businesses being carried out and also strategies being employed in marketing.

Discussion

A large population of the world has access to the internet and this makes it very easy to reach such people. Information and communication technology has advanced at a phenomenal rate and this has made it very important in influencing the way business is conducted. Many organizations make use of the internet to market and promote their goods and services. The business also makes use of the internet to deliver support for customers and disseminate information in addition to providing the training required by their employees (Bailey 2011, p.44). In the modern-day, there is a need to have information and analysis of such information so as to determine the outcome and hence the most important decision from any given scenario. Businesses are able to make use of technology in determining what the source of competition is and also get to know the threats which are on the rise (Neuman 2007, p. 211). With the availability of internet barriers in setting up a new enterprise has reduced tremendously. It has become much easier to set up a company since less capital is required in setting up such companies. There are many sites which offer retail services and this has meant that the profits by individual business owners have been on the decline.

With the advent of the internet, the life cycle of products has reduced and many providers of goods and services have been forced to be more innovative and creative so as to ensure that they are able to serve their customers very well. With a lot of information available on the internet, customers have access to all kind of information about different products. This means that companies have to be very careful when determining the price at which to sell their products or services. Internet in conjunction with communication technology have increased connectivity and also changed the way information is disseminated to customers. Features such as email, intranets for the office and instant messaging. Employees in a given organization are able to keep in touch despite the fact they are in different regions of the world. Through such interaction between employees, it becomes very easy to share work and hence carry out projects much cheaply.