The competition between businesses will ensure better quality of their goods and service they provide. Competition is well known for providing great productivity which leaders to a growth in the economy. Not only can competition improve the quality of work, it can also improve innovation. Innovation is an important quality to have in a company because it aids in keeping products and services fresh. “Economic Influence on Marketing” claims, “To keep current, your business has to adapt to changes in the industry and must always keep its eye out for innovative, cutting-edge technology and product improvements” (Bradley).
In other words the new technology is controlling us. The new generations have the tendency to rely more on the new technology which make them more reliable to changes compared to the old ones. Technological convergence is in fact affecting our everyday lives or even our work lives. It is valuable for the marketing industry as all media is grouped in a single device. These types of new devices have become a new tool for trend search.
Also, the internal structure of Alibaba viz its division in 1688.com, Taobao.com, Tmall.com,Aliexpress.com etc help in efficient operations, as well as cost reduction since this, helps them to serve specific segments of customers. Alibaba – Going Global In order for its sustained growth, Alibaba is increasing its reach of operations. It is expanding into Asia Pacific region, Americas, and Europe. The customers of these regions have different demands. Hence Alibaba has taken following steps to help its global growth: a.
Giving services to better address client issues, such as malfunctions is a good opportunity to taken advantage of. This will help grow the organization and broadening ToolsCorp 's client base. Make a solid online market presence which will offer the capacity to greatly extend the organization to a significantly more extensive group of consumers for relatively small cost. Monetary utilizing: Leveraging the accounting report permits ToolsCorp to rapidly venture into different markets and plan to present new items. New items that address the needs of potential clients, which thus expands the client base.
Leading brands have focused on building partnerships and alliances to reach each and every segment which has enabled these companies to offer more variety of products, better quality convenience and content. Alliances with leading portals search engines and websites helps in generating traffic and can provide brand a competitive edge over online customers because of its availability. 2.3.5 Importance of Online Brand Alliances Online brand alliances is relevant to the entrepreneurial firms who are unable to reach a wide variety of consumers and by utilizing this alliance they may overcome the problem of reaching economies and accessing markets. It helps the online retailing websites to get more popularity among B2B operating companies and helps in generating traffic through ppc (pay per click). While on the other hand it helps brick and mortar brands to reach the users worldwide and developing a two way relations with its customers.
This innovation supports new functionality that improves quality of customer interaction and satisfaction. • Empowers business processes with direct control related to customer service •Make available a platform for further business innovation and service improvements offered to customers4 Impact of the Innovation A Customer Information System (CIS) is critical to ensure customer satisfaction and meet complex billing requirements. A CIS manages account, consumption and billing data, and delivers a distinct solution for tracing all interactions with your customers. Customer Information Systems of today are far more complex and intuitive than 4 www8.hp.com/h20195/V2/getpdf.aspx/4AA3-1817ENW.pdf?ver=0 8 | P a g e earlier traditional utility billing systems. Having a recently updated Customer Information System (CIS) allows company to build the kind of customer relationships needed to maintain and thrive in today’s ever competitive marketplace.
Moreover, this company is Creative Entrepreneur because Thalmic Labs brought ‘revolution’ into the digital devices. Innovation was created on the technology market. Furthermore, was created a new product, process and method of production. Economic stimulants are the main factors for entrepreneurial activities. In the case of this company, it has such economic incentives as investment and marketing opportunities, new technologies, etc.
Part A The globalized and highly technological world market is nowadays creating a new environment for the business activities. The use of new technologies allows the companies to reach their customers in an easier way. Furthermore, the innovative technologies provide the businesses with more opportunities in terms of entering into contact with the stakeholders and satisfying the highest revenues. Among the new technologies that reshape business functioning all around the world, social media have developed to be an important means for communication with customers and a powerful marketing tool. Speaking of the importance of implication of modern technologies to the process of managing a business, the introduction of social media into the working
Data grant us the opportunity to plan ahead future behavior of the market which is crucial to create strong customer lifetime value models as well as achieve marketing effectiveness. In addition, Digital Marketing provides valuable sources of data and customer insights that can be used in real time. Technology We believe that technology is a trigger rather than a solution. It is a tool that will allow us to enhance our activities in the department. We must be however comfortable and up to date while using technology to extract their full potential.
The marketing director works with the strict coordination. Ways to further increase the effectiveness of digital marketing A strategy that is linked into the effectiveness of digital marketing is content marketing.  Content marketing can be briefly described as "delivering the content that your audience is seeking in the places that they are searching for it".  It is found that content marketing is highly present in digital marketing and becomes highly successful when content marketing is involved. This is due to content marketing making your brand more relevant to the target consumers, as well as more visible to the target consumer.