The Internet is a network of computers that can share data and communicate between them. Its reach is almost everywhere in the world. Other technologies have never changed business as fast as the internet. There are many stories about how the business has changed online. eBay was created by the largest e-store developer to trade in specialized goods, but now you can buy and sell anything in this world. If you connect with customers, suppliers, and other trading partners, you can change your business. The Internet is the best connector for businesses in your service almost none. You have the whole world and you do not have to open a store anywhere. All you need is an internet connection with some computer systems. If you can offer better deals if you are in business, no matter how big or small you are, economies of scale will be less important. The Internet provides easy and fast communication between buyers and sellers and lets one grow its business and changes in intermediary relationships.
The Internet drops down deal charges cost in three ways:
- Search costs on the internet: The quantity of info accessible to buyers and sellers can be increased with the help of the internet, and can be accessed easily and on time available.
- Contract costs on the internet: The Internet assists to interconnect better and monitor partner performance in business relationships. It is easier to negotiate and compare prices online.
- Coordination costs on the internet: the amount of Info sharing costs are abridged due to the Internet and help integrate business operations.
E-commerce describes the use of electronic tools and platforms to run a company business. E-commerce is a short form of electronic business where the internet and related technologies are used for normal business operations. Here, the internet is used to increase efficiency, reduce costs, and thus increase revenue. He brought the world closer and traded economically and efficiently. It creates a virtual marketplace where everything is available virtually, not physically. The biggest impact of the Internet on business is making trading prices accurate and logical. Now customers can research or compare before buying a product or service. This not only benefits the customer but also the company. Now firms can contact remote customers easily and cheaply. They are able to raise awareness of their products and interact directly with customers to find out their options, problems, and possible solutions. Many influence the future and almost every business sector. We will discuss this effect in detail in a later section.
The Internet is a global network of interconnected computers operating on standard protocols that enable the exchange of information. (Carolyn Siegel, 2004) It is the largest interconnected distributed computer network in the world. Thus, we can conclude that any system that can share information with other systems through globally accepted protocols is part of the internet, and this whole interconnection can be referred to as the internet.
(Carolyn Siegel, 2004) Marketing is a group of activities that unites buyers and sellers to make satisfactory purchases and value all parties. This includes the manufacture and sale of internet-related products. According to Fletcher, the introduction of electronic commerce in 2005 changed the basic principles of international marketing. He points out that some of the things that have changed the internet are:
The size of the firm is no longer an obstacle to internationalization.
It does not need foreign mediators as it is easier to find customers and do business directly with them. It does business all around the world with ease and fasts. The ability to store large amounts of data (information) cheaply in almost different locations and to provide information on demand through interaction,
Traditional ways of internationalization (transition from unfamiliar countries to less known countries) no longer emerge as information becomes readily available and interactive communication media.
The Internet is a mode which is a low-cost environment; it allows small and medium-sized companies to become global marketer at an early stage. This is because the internet can help establish better communication between customers, suppliers, agents, and distributors from abroad.
With all said, now you know how you can utilize the internet for your business and how important it is to make your business successful in Malaysia. So, what are you wasting time? Apply Time internet now in your office and sell your products through Digital marketing. Apply Time and enjoy the fastest internet in Malaysia at very affordable prices. With Time fibre 100mbps home broadband Malaysia, you can grow business as it can provide you with the best digital market platform with its high-speed internet.
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