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Marketing trend (Internet and online marketing)7 - Assignment Example

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Business purchase process entails the stages and procedures by which business organizations decide the products and service to purchase, and then find, assess, and…
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Marketing trend (Internet and online marketing)7
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Marketing trend (Internet and online marketing) Marketing trend (Internet and online marketing) Internet marketing is referred toas the marketing of goods and services over the internet (Charlesworth, 2009). Business purchase process entails the stages and procedures by which business organizations decide the products and service to purchase, and then find, assess, and select among alternative suppliers and brands (Mudambi, 2002). This paper will show how online marketing impacts interpersonal dynamics of business purchase processes, as well as the impact on personal selling.
The interpersonal factors include; education and awareness, interpersonal conflict, risk taking ability, participation and authority, and individual factors like age, cultural and social background of the members of the buying team.
The Internet has increased the speed and broadened connectivity among businesses, which are fundamental aspects of communication (Charlesworth, 2009). Most key companies now have a Web site. The Web sites give them an instant international presence. Internet marketing simplifies the search for the least price for products, making it quick and cheap. This also shortens the purchase process for businesses. Significant delays in decision making occur when companies restrict the flow of information. The increased speed of information exchange fostered by the Internet provides a solution to this problem (Charlesworth, 2009). This increases the probability of sourcing the right product at the correct time, price, and quality and be delivered punctually.
On personal selling, Internet trading exchanges have made it easier to link sellers to buyers and facilitate the sale and distribution of products smaller orders. An example is the selling of online books and music CDs. Research has shown that selling music and books online costs between 9 to 15 percent lower than in conventional vendor stores (Clay, Krishan, & Wolff, 2001).
In conclusion, internet marketing speeds up the process of sourcing for products and favorable prices by businesses. The personal seller can market his products from home or office without the use of billboards or employing marketing personnel.
References
Charlesworth, A. (2009). Internet marketing: A practical approach. Butterworth: Heinemann.
Clay, K., Krishan, R., & Wolff, E. (2001). Prices and price dispersion on the web: Evidence from the online book industry. The Journal of Industrial Economics, 46, 521-539.
Mudambi, S. M., (2002). Branding importance in business-to-business markets: Three buyer clusters. Industrial Marketing Management, 31(6), 525-533. Read More
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