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revolution, also Internet communities were developed like AOL and Prodigy, and ever since the Internet has been growing at an exponential rate. There were early and still are problems with the Internet for the business world to deal with. The security of information in business transactions over the phone lines slows consumers willingness to buy products on the Internet. Therefore new encryption technologies needed to be developed as well as improved upon for consumer protection.
Business also had to figure out new marketing techniques to sell their products over the Internet. The consumer must also be able to trust the advertisement in that they will receive what they ordered from the company. Customers may not want to release a lot of personal information to the seller when they purchase products on the net. The Internet has changed the way business does business. Small and large businesses realized their business must have a web page to compete in the current market place. The Internet offers access to millions of possible new consumers, valuable information to help grow their own business, global reach for the new global economy, and is rather inexpensive considering the value the information business can obtain from this new business tool.
Business must also use the Internet to survive the new business world or risk possible bankruptcy. Business must also change its strategy to a dynamic style of business instead of the predictable level business it had come accustomed to. They can also find data on the competition, enabling them to see where their business should be headed to capture the market for their particular product. Employees can learn ways to save money from the information published on-line as long as the information is credible. Salesmen can use the net to stay in touch with business headquarters while on the road, not just relying on the phone. Eventually manufactures will wipe out some of the middlemen, and be able to offer consumers a lower priced product.
Business now also has a new marketing tool that it must take advantage of to compete in the dynamic style of business. The search engines allow the customers to type in a keyword such as, baseball bat and the major and minor manufacturers of bats as well as stories related to baseball show up in terms of Internet addresses and a short summary of what will show up on the page. This allows the customer to receive more information, (although not all the information) than they would usually receive at a store trying to buy a bat. The Internet also allows for another place for business to advertise their products, through other popular web sites, which include search engines, and news channels. This form of advertisement is much more interactive than an ad in a newspaper or on television, which gives the customer the ability to click on the product to link to more information on the product if they are interested.
Also customer feedback on the products sold on-line is better for business. For instance customers can complain on-line instead of complaining in the stores and giving the store a bad image to other shoppers. Buyers also would be more willing to write an e-mail suggestion directly to the manufacturer than to write one for a suggestion box. The Internets growth since 1992 has brought e-commerce to frontline. This can be shown by number of shoppers during the 1998 Christmas season. The reason for the shift to the Internet for some consumers was because they could find hard to find products not offered in their area.
Also the convenience it offered, in that they do not have to fight the heavy traffic and large masses of people in the stores. Customers also felt more secure in giving credit card numbers cross line, because of better developed encryption techniques. The thought of shopping on-line has been the big driver in the stock market in the last year with its rise to record highs. Stocks such as Amazon. com, AOL, and Etrade are very volatile but have increased at an astounding pace; increases of fivefold are common for Internet stocks in their first year of trading. This is due to the belief a majority of products in society will be sold through the Internet, and investors do not want to miss the boat.
One business is selling products at cost believing an increase in Fed Ex and UPS deliveries will give the business a large enough profit margin. There are still many things business desires along with the other areas such as education and science. One of which is real-time video conferencing, also more multimedia applications. For this to develop an affordable rate to the general public and larger bandwidth must be developed such as fiber optics or cable wire. The higher bandwidth will also force new hardware and software to be designed to handle the extra information being sent. The developers of this new equipment must also keep in mind the Internet is a social technology and is important that the systems they design can be easily integrated into the general publics daily lives.
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Research essay sample on Search Engines Business World
