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Online Network Marketing - Essay Example

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Summary
With the technological development evidenced in recent years, more and more people are opting to conduct their businesses online. This is as opposed to the traditional offline business networking, which necessitates one to operate from an office or premise…
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Online Network Marketing
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Download file to see previous pages In other words, it is an online community of sellers and buyers.
By the year 2006, slightly more than a billion people were able to access internet throughout the world. This is the results of a survey conducted by Internet World Stats in that year (Nichols: 2007). What this means is that there is a potential market online of a billion people. This is a large pool of people who can buy or sell a product or service. It is not surprising then why there is an increase in the number of people who are establishing online network marketing businesses. The services and goods marketed online include education, consumer goods like drugs, and vehicles amongst others. This article is going to look critically at the online technologies that are used to build online network marketing. This network marketing is geared towards building online communities and promoting goods and services online.
The broad objective of this study is to critically analyze of online network marketing for community building and business promotion. To this end, the study will be guided by several specific objectives:
As indicated earlier, more than a billion people around the world were already online by the year 2006 (Nichols: 2007). This number has continued to grow over the years, and it will not be far fetched right now to say that internet usage will hit the two billion mark by the end of 2010 (Foucault: 2009). This translates to a market of two billion people out there. People access the internet for several purposes; there are those who use it for communication, as a form of social media. These are the ones who use emails and social networks like Facebook and Twitter (Wilson: 2009).
When selling or promoting products and services online, most people first recruits sales representatives and agents online (Bashir: 2009). The advantage of online networking is that the sales representatives can be recruited from anywhere in the world, unlike the traditional offline networking where they have to come from a certain geographical location. These agents are then encouraged to recruit others. The commission accrued by these agents reduces as one goes down the ladder, with the owner of the organization getting the lion's share. These agents are the ones who are in charge of selling the particular service or product that the company deals with. They recruit a consumer base, still online. The agents and the producer forms what is called a virtual organization (Irwin: 2007). The consumers, together with the virtual organization, forms the online community that is brought together by the particular good or service that is been sold.
In order to create this community, promotion is needed. The producer creates his presence on the internet. This he can do by creating his own website domain. He then goes ahead and recruits the agents, who access his domain for details. These agents then use several means to recruit consumers. They may advertise their services and products on other sites related to their line of business. When the ...Download file to see next pagesRead More
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