Importance Of Internet In International Business
• Improved customer service and enhanced reputation by dealing with customers in fast and efficient way through virtual communication systems.
• Decreasing funds available on marketing and diverting it towards product development and quick delivery to desired locations.
• Improve market conditions by performing suitable tests with less budget scale over a global range.
• Redefining products and customising them according to the cultural tastes of customers with no extra cost through the process of standard mass production.
• Easily manageable business systems depending on the need of the company, market and customers making more businesses to use Internet for business propagation, supply chain management, product improvisation and pricing …show more content…
Web 2.0 application provides a platform for user creativity and consumer empowerment (Gillin, 2007). With the increasing influence of this application, consumers no longer trust traditional media and regard it as old means of marketing and advertising. Study by Deloitte Touche reports that there is a rapid change in consumer buying behavior after the emergence of web 2.o application. The study reveals the growing importance of online reviews and states that almost 62 per cent of US consumers rely upon these reviews to purchase goods or services of interest (Constantinides, E., & Fountain, S. J, 2007). In addition, social media also helps the consumers in communication, learning, taking timely decisions and to do necessary shopping. A report by Gillin, 2009 also proposed that internet and web based application systems like e-commerce would become the leading channel of advertisement medium when compared to other means (Gillin,