The Earth is moving under the Provider’s Feet Worldwide, business decision makers and influencers of trillions of dollars of commerce are migrating to a digital buying experience improving the precision, speed and convenience of their choices. They are looking for providers who understand and service their digital buying approach. For the next decade, not only will more buyers go digital, their digital needs will escalate not only as buyers but as customers. Laggard providers will certainly lose business as these buyers migrate to more digitization. When you visit the websites of most providers, it’s easy to see they have not given careful thought to this emerging and dominant buyer approach. Every now and then you take on the role of the buyer. When you take on that buyer role, have you noticed what has changed about you? You’re going digital and you’re connected. As if by magic, the 21st century buyer enjoys the ability to research, create and share information like never before. Buyers will begin their digital buying experience before any provider is contacted. Choosing to embrace that fact can either make or break your company in the 21st century. The Ascension of the Digital Buyer Digital Buyer is a term that was created to help the provider focus on the changes they need to make to improve their revenue efforts. Here’s my description: The Digital Buyer – Uses 21st century technology to do their own goal-driven research, shares on-line content and takes part in on-line conversations with trusted relationships before they contact a provider. Once they are engaged with specific providers, they expect the active use of technology from the provider to improve their experience. Finally, they create their... ... middle of paper ... ...y, the marketing department’s chief mandate should be to help the buyer be successful in the pursuit of their goals at each step. One of the key shifts that transpired is the end of information asymmetry that favored the provider. The Creation of the Digital Buyer The years between 2000 and 2009 could be regarded as the cradle of the Digital Buyer. Events and developments shape behavior. We went through some very turbulent socioeconomic times while our technologies continued to evolve. We experienced the dot-com shakeout, 9/11 and barely escaped an economic meltdown that was caused by what was supposed to be some of our most trusted institutions. I believe the impact of these events has shaped the overall buyer psyche for risk and the ability to grant trust. On the upside, during this time, technology transformed the buyer a more capable Digital Buyer.
Amazon.com operates in the Online Retail Industry. The sector is one of the fastest growing globally and is outperforming the ordinary retail marketplace. It was created after 1995 and it was only the Internet that made it possible for such an industry not only to be established but to become one of the most flourishing sectors in the business environment. What is interesting is that Amazon.com, together with eBay is the pioneer in the field. Both companies were launched in 1995 and are still extremely successful. The creation of e-mail in 1996 had a huge impact on the development of online retail by introducing a fast and easy way to communicate with customers. For this two-year period Internet usage doubled annually, thus, allowing for the expansion of the industry. Google is launched a year later, in 1998, only to become the most used search engine in the world and an essential partner for the online retailers by helping them tailor their websites to customer’s personal preferences and by advertising. After that, more and more people see the opportunity in the growing industry and enter it. By 2001 there are more than 513 million Internet users globally, which calls for action in terms of creating regulations and laws to protect the users and personal property. In 2003, Apple launches iTunes, and provides a platform for low-cost digital downloads. Another major change is the appearance of social media from 2004, which is one of the biggest influencer on the state of the industry. With the launch of iPhone in 2007, this trend strengthens as people get to enjoy the Internet anywhere they want to. From then on, technological advancements have made it extremely easy and fun to shop online, making it ...
Setia, P, Venkatesh, V, &Joglekar, S (2013).'LEVERAGING DIGITAL TECHNOLOGIES: HOW INFORMATION QUALITY LEADS TO LOCALIZED CAPABILITIES AND CUSTOMER
Before there was digital ecommerce, people relied on their friends/families and traditional forms of media to inform them of new products. Then the Internet came along and expedited the purchase process while introducing another vehicle that marketers could use to reach the masses. Still, the purchase decision funnel was relatively unaffected. People still had to be in front of their Computers, TV’s, Print Magazines, or their friends & families to become aware and kick-start their
In today’s market customers have the advantage of more options in the marketplace. The internet has made it easier by removing the barriers and inconveniences of switching suppliers. For example, a customer can go to Amazon.com to buy a product without even leaving their house.
For example, a fashion catwalk showing the latest fashion trends (ASDA 2015); applying 3D printing in its York store to produce the 3D model of customers in full colour and mini figures; and launched ‘food for now’ (small items for one pound, such as chicken nuggets) and ‘food for later’ (take away easy eating item) for fulfil time pressured customers (ASDA, 2015). Moreover, E- Commerce is laid in the centre of new strategy, as the online grocery currently plays the fastest growing department for the organization, which is already worth£1 billion (ASDA 2015). Taking advantage of Walmart’s global ecommerce platform, ASDA could access and analysis the largest collection of commerce data in the world (Walmart, 2015). Therefore, it is possible that delivering personalized shopping experience and making customers shop anytime and anywhere online and offline.
Fast forward to 2015 and we now see this same scenario being played out, except in a very unique way. Instead of building individual relationships with only a handful of customers, technology has now given us the opportunity to build relationships with countless people. It is even possible to build these relationships with people from around the world.
The Internet Era is here and the advances in digital technology are completely changing the way we live. From digital cellular phones to handheld computers not much bigger than a stack of playing cards, digital technology has created an unprecedented explosion of new products that allow consumers to communicate with one another as well as integrate the numerous products they use in their daily lives. This increase in integration along with the increased speed of communication has created the “global” economy in which most business must operate to remain competitive. “Hardly a day goes by that we do not encounter products that are enabled by DSP technology. From consumer electronics including cell phones, toys, TV’s DVD, answering machines, to military, scientific, medical and infrastructure applications. DSP’s are showing up everywhere.”(Frantz, 2000) Let us take a look at one company that is heavily involved in the Internet Era.
In its turn, the internet and ecommerce shape the new market and accelerate the pace of business. Namely, clients “who instant message around the world will not want to wait two weeks to receive merchandise they purchased online. Time is the new competitive turf for world- class business” (Nobles, Mattison & Matsumura, 2014, p.
INTRODUCTION: The impactful breakthroughs in digital technology have led organizations to face a variety of dynamic environmental challenges which include speedy pragmatic change, globalization yet an increasingly more aggressive landscape also changing customer expectations and conduct. Technology empowered customers’ not just purchases products and services but a more personalized ‘experience’ forcing the businesses to be customer-centric in this competitive environment. This implies that organizations need to be abreast of the changing needs and demands of their customers which require more than simply classifying the customers into demographic categories.
Since its launch in the mid '90s, Dell's e-commerce business has been a poster child for the benefits of online sales, says Aberdeen Group analyst Kent Allen. The company's strategy of selling over the Internet -- with no retail outlets and no middleman -- has been as discussed, admired and imitated as any e-commerce model. Dell's online sales channel has proven so successful, says Allen that the computer industry must ask: "Does the consumer need to go to the store to buy a PC anymore?"
Among those, the perceived relative advantage of Internet utilization was found to be the most important contributing attribute, especially in firms that are in growth phase. The new channel that the Internet has created was able to bring buyers and sellers closer together, thereby, making interaction much easier and convenient. Not only does this nurture customer channels but also strengthens relationship to better suppliers and more suitable partners for the business (Lee & Cheung,
Nature of doing business, over a period of time has changed with the development in the information technology. It was believed that the reduced cost of transactions done electronically will lead to decrease or disappearance of the traditional intermediaries which will reflect a change in the electronic value chain. The effect of electronic business will restructure the traditional market – Disintermediation where the traditional intermediaries will lose its existence; Re-Intermediation where they will be forced to set apart and will re-develop in the electronic business; and Cybermediation where entirely new markets will be formed for the intermediaries.
• To understand the benefits of Digital Assets in the supply chain of the industry and make recommendations based on the best practices being followed around the globe. Research Flow
... impersonal online shopping experience will become personal, and that will convince more people to shop online, for more things. When offline retailers become adept at big data techniques, they too will begin to adapt to them. One can imagine a point where there is junction between the online and offline worlds, since most of us are permanently connected through our mobile devices, even when we are in the malls.
Carroll, Jim, and Rick Broadhead. Selling Online: How to Become a Successful E-commerce Merchant. Chicago: Dearborn Trade, 2001. Print.