Marketing Strategy and ECommerce :: GCSE Business Marketing BTEC Coursework

Marketing Strategy and ECommerce Introduction With the rapidly advancing technologies that are occurring in modern business, organisations are required to be ready, and able to adapt within their ever-changing environment. It is true across all diverse industries that in order to stay competitive, organisations must be able to utilise the various tools that technology has to offer. Technological factors have been of growing importance, particularly in recent years. A major factor involved in these technology issues is the use of the Internet as a major issue to modern organisations. The Internet has been rapidly growing since it's inception and is now commonly used in all sectors of societies, in all corners of the globe. The Internet has quickly become one of the most valuable assets in modern technology, and as such, is developing as an integral part of modern commerce. As with past technologies, the Internet will have future technological advances develop from its own growth. The task the organisations of in the new century? Realise future opportunities and threats, and base a strategy accordingly. "Is it clichà © to say that 'the Internet changes everything': the challenge now is to say what, how and how quickly". (When Companies Connect, 1999, p.19) The Internet has lead to the birth and evolution of electronic commerce or E-commerce. E-commerce has now become a key component of many organisations in the daily running of their business. Simply defined, "electronic commerce is a system of online shopping and information retrieval accessed through networks of personal computers". (Reedy, J. Schullo, S. Zimmerman, K. 2000, pg. 29) E-commerce challenges traditional organisational practices, and opens ups a vast array of issues that the organisations must address. By focusing on the varying levels of an organisation, it soon become apparent the effects that E-commerce can have. An understanding of the implication E-commerce has on such organisational divisions can help businesses gain understanding hence plan for it's inevitable continuing evolution. In terms of marketing, the modern organisation must be critically aware of the development of E-commerce, and the implications that it entails. "Marketers develop their own recipe of promotional tactics to fit the product lines or industries in which they compete. Now electronic communications tools are and will continue to be an important ingredient in the promotional mix" (Reedy, J. Schullo, S. Zimmerman, K. 2000, pg. 29) In assessing the implications of E-commerce in terms of marketing, it is important to understand its impact in respect to