It allows the customers to make more and more purchases and thus boosting the feasibility of the online market in the first place. Figure 15: Real disposable income in India Technological: The boom of the internet age which made online market possible in the first place has now started to penetrate deeply into the masses, improving the scope of the industry by the day. Internet enabled cellphones running on Android and Windows OS are available at affordable rates for all socio-economic classes in the country. Apps and websites are on a roll and generating huge revenues for their parent
Purchasing power : There is a positive correlation between person’s income and his purchasing power thus more income means more purchasing power which results in frequent buying. List advantages of operating online: Advantage How will you leverage the advantage? Easy access to the market there are many websites available for sellers which helps them to sell their product online within a short period of time such as eBay, Amazon and so on. Potential for quick growth it is easy to obtain a high rate of returns in short time with the help of e-sales with the use of good digital market strategy. Widen market online selling plays vital role in expanding the size of the market because the internet makes world global village.
Online shopping has nowadays become a widely spread way of shopping among people on different continents and in different countries. Its popularity is constantly on the rise considering the spread of Internet technologies and the increasing share of online shops in the retailing business. Online shopping activities are gaining wide spread as far as they tend to provide the consumers with numerous benefits and increase the convenience of buying without leaving the house. The popularity of online shopping grows due to a range of reasons, including its convenience as well as time- and money-saving potential. The most valuable reason for the popularity of online shopping among the people is its high convenience.
Kvochko’s article focuses more on information communications technologies (ICT) which is more on communication devices like mobile phones, computer hardware/software, and satellite systems, etc. She sees on information communications technologies as a huge part of the growing technological economy since nearly 40% of the world’s population is online. Many advances in ICT not only help current businesses but can also expand outgrowth as well. As smartphones takes more control in the mobile phone market newer application of programming is popping up almost every day. These advances have not only increased employment but also created different industries as a result.
It gradually becomes a national trait aligned with cheaper labor force that attracts the developed countries. In other words, the developed countries are willing to progress manufacturing outsourcing in China. Moreover, market demand boosts in the stage of economic development, therefore, there are massive amount of potential opportunities occurring in the market place. With increasing amount of the FDI, China is constantly absorbing knowledge and learning skills from innovative technologies and trying to help local business development. As a result, the GDP is rapidly growing since 1995 (World Bank Data 2017), which indicates that the purchasing power of customers is sharply boosting in the domestic market.
The advanced sharing and targeting offered by the social media are effective because these platforms capture their audience in a wide variety of ways (Tobias, 2011, p.32). Going beyond the general geographic and population data, these platforms have opened doors for behavior and connection-based targeting options. The advanced targeting offered by the social media platforms increases the relevance of the ads the users (Safko, 2010, p.34). They also create a level of personalization that would be difficult to achieve when using other advertising platforms. The increased efficiency of social media advertising is possibly the reason behind the increased number of businesses that has created
Infomediaries are web-based market makers that leverage the Internet to bring together buyers and sellers in niche markets, charging commissions for the products they help move... Sabre-type infomediaries took in $290 million in 1998. By 2002,... that number will grow to $20 billion” (Malik,1999). With technology like Sabre in picture the airline industry had enough information in terms of suppliers, global distribution systems, travel database etc. to create a market place which almost had perfect information regarding schedules and fares which incepted the idea of e-commerce in travel industry (Smith, Gunther, Rao, Ratliff, 2001). The increase in travel also
It´s important to remember that disruption is positive for the mass-market and are innovations that make products and services more accessible and affordable, thereby making them available to a much larger population. When we look at the full extent of Xiaomi´s business model, we can clearly see how different and how disruptive it is. How does Xiaomi keep their prices at least 60% lower than their competitors? While Apple need to come up with a new model to maintain their high profits, Xiaomi have found a clever way to reach these profits without overserve the market with smartphones. For Xiaomi to sell high-end smartphones at such cost, Xiaomi keeps their models
There is therefore less of a problem in the growth of ebusiness in the UK and other developed countries since there is a ready market for countless services. People want access to shopping and email so the other benefits such as access to knowledge come too. These trends show how the internet is vastly becoming a normal part of life just like the telephone as technology is developing very fast. At a global level, the digital divide gap is slowly narrowing as more and more ‘developing’ countries make money by being connected. Places such as Bangalore in India have found new prosperity in setting up call centres for companies in the UK.
This clearly explains that younger consumers are more adaptive and have the high willingness accept to the innovation of technology in terms of smartphone. The usage rate of smartphone among the university students are also on the rise (Ting et al., 2011). Some of the popular brands of smartphone available in Malaysia are Apple, Samsung, Sony, HTC, Nokia and LG. Among these brands, Samsung Galaxy and Apple iPhone have the highest competition in the market. These smartphone brands have higher chances in influencing the students purchasing decision.
Online shopping has become more and more popular over the years, and studies show that it will only get bigger as time goes on. Online shopping is popular because one doesn’t have to leave home to buy it, it’s fast and easy, and products get shipped to the front door. Another big marketing tool used on the internet is the stock market. Online stock marketing makes begin apart of the stock market much easier and efficient. Online banking is another reason why marketing on the internet is so cool.