Answer to Question #253280 in Marketing for M*M

Question

In the form of an essay, discuss the impact of the internet in Business-to-business (B2B) marketing for a company of your choice. Use specific examples related to this company to support your answer.

Answer 1

Discussion

Internet is a global computer network providing a variety of information and communication facilities, consisting of interconnected networks using standardized communication protocols. The Internet has been the favorable theme for numerous studies and reports, during the last decade. Yet, there is a lack of systematic empirical evidence regarding the marketing activities that are affected by the use of the Internet, and their consequent performance outcomes.

Business-to-Business International Internet Marketing (B2B IIM) has emerged as one of the key drivers in sustaining an organisation's competitive advantage. Market entry and communication via the Internet have affected the dynamics and traditional process in B2B commerce. The Internet is the easiest way for businesses to connect with customers and clients. Internet technology invented new methods of doing business and provides great benefits for business communication.

Digital technologies enable businesses to attract, retain and engage their customers in a more effective manner. Businesses can use their website and social media pages to connect with prospects and market their products to those who are most likely to buy. The rise of e-commerce, social networking and other digital technologies allows companies to reach a global audience. Small businesses can now advertise and sell their products to customers worldwide. 

Companies also use complex software programs to track sales, manage customer relations, ensure data security and streamline their business operations. For example, private clinics and hospitals, rely on AI-powered devices to store and process medical data, help patients manage their conditions and optimize staffing levels. Using the internet in business allows for more effective communication, increased productivity and instant customer support. Web-based technologies can improve teamwork and free up employees' time.

In conclusion, the internet has changed the business world forever, becoming an indispensable part of people’s lives. Companies that want to remain competitive and grow can no longer ignore its impact. The plenty of information on the Internet enables businesses to learn about trends that may affect them, observe consumer behaviour, discover products that could enhance their service or business and increase their knowledge of the industry. Information that used to be reserved for the most influential people in the industry or academics is now easier to find.

Reference

Sharma, A. (2002). Trends in Internet-based business-to-business marketing. Industrial marketing management, 31(2), 77-84.