What is marketing and Role of Internet in Marketing!

According to wikipedia.com “Marketing is defined by the American Marketing Association as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. The term developed from the original meaning which referred literally to going to market, as in shopping, or going to a market to buy or sell goods or services.”

I am in a no way any research scholar in marketing neither I want to explain it in detail. In my opinion a process before the actual sales starts, that includes knowledge propagation, brand building, creating or funneling a user base. Creating an environment, in which actual sales takes place is called marketing.

These lines may seems confusing to a newbie, but you need not worry much about the theory portion, because it is very necessary that you know more about implementing this practically rather than theory, particularly in the arena of internet marketing.

In coming days we will discuss several aspects related with marketing over internet.

Marketing starts with a product or service available for sale. Be it physical products, digital products or information and counseling.

Reach to millions of people

Some years before United States of America, Canada, United Kingdom, Mexico and Australia and some other developed countries of North and South America and Europe were considered the exclusive avenues for internet marketing and ecommerce, because they had the privilege of high speed internet and other ecommerce infrastructure like online payment processing etc.

But as the electronics and communication is developing at a stormy pace. New markets like India, China, Malaysia, Philippines and other South East Asian countries and some countries in South America are emerging as new avenues for online business. Even internet users in China and India will exceed US in coming few years.

So in this age of global economy, every barrier is broken and internet presents a vast geographical market to the prospective provider or seller. This creates a competition for local providers as well and this profits the prospective buyer or user.

Below are some stats of internet users and internet penetration in relation to the population which will makes the situation a little clearer.

(All figures are of March 2009, unless specified otherwise)

Above statistics will make it clear, and the most exciting fact is this user base will almost become doubled in coming 4 to 5 years.

Now a days, the purchasing power of the average population has increased considerably, in turn available free time reduced

Now people have more money and less time, so they want some solution for their daily chores, from paying bills online to shopping they are trying new medium (of course internet to save their time and efforts)

So in a nutshell we can predict that internet will become the medium for almost 50 to 60 percent of all ecommerce transactions in the known world (I cannot predict for the unknown ones)

Role of Internet in Marketing Part 2 ( Coming Soon)

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