Using Internet as a Marketing Channel

With the growing popularity of internet, corporate houses across the world are trying to leverage this resource to expand their business across borders. Researchers are posing increased amount of importance on this aspect of business from various dimensions. This has given birth to a new domain in the field of management, which is known as “Internet Marketing”. Advent of this domain is changing the business scenario. Traditional Brick-and-Mortar shops are transforming into Click-and-Buy shops. The marketing channel characteristics are also going through phases of transformation as well. Internet adds a lot of unique features and capabilities to the channel characteristics, which could not have been possible in earlier days.

Internet can be used as a transaction channel for online business. These transactions are not only in terms of financial transaction, but also in terms of information processing and exchange, distribution medium, observational experience sharing, etc. Internet channels are able to endow businesses with low cost and extremely powerful information exchange and processing platform, which enables them to reduce the information asymmetry between the business and consumers largely. Looking at the demand side of the market, it enables consumers to incur low amount of search cost for any product or service. This builds a positive brand image in the minds of the consumers about the business. From the supply side perspective, the advantages are even bigger. They business houses can highlight their presence in the marketplace at a very cheap rate. They can leverage the capabilities of this medium by utilizing it as their substantial distribution channel. They can also post the illustrations of their products or services in terms of images and videos. In this way, they can share an observational experience before the consumers.

Other than that, internet can be used as a communication channel for online business. In earlier days, the mode of communication for the businesses was majorly one-to-one or one-to-many. However, advent of internet has transformed the mode of communication enabling the business houses across the world. Now they can go for many-to-many communication mode on a real time basis. From a demand side perspective, consumers can interact with each other either on a real-time basis or through offline product or service reviews. Through opinion polls and ratings, they can choose the best among the lot. Business houses can visualize these ratings and they can alter their marketing strategies in accordance with the demands of the consumers. This enables them to stay tuned with the dynamic market scenario.

If you are looking for a solution regarding the online marketing channel strategy for your business, then can be your perfect choice to reach the maximum number of buyers.

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