With the advent of internet, the way the world conducts business has entirely changed (Fox, 2009). The internet today has become the biggest markets of the world. Dave (2008) has explained the extent to which e-commerce has transformed the conventional organizational structure in the past decade. They concluded that virtually all aspects of business structure and internal process have been affected across a range of industry sectors with evidence of significant organizational change in the form of power shifts and the job redesign.
Today, organizations have become operating completely online (McLoughlin and Aaker, 2010). Therefore, it is essential for organizations to formulate and implement marketing strategies that suits best to the dynamic market environment. Shaw (2003, p 89) has described that internet is changing the norms of marketing and sales. Even companies selling to business to business markets will have to gain the new ways of marketing. He adds that these changes pose threats as well as opportunities. Business could be lost in a click literally. Or loyalty of customer could be cemented for a lifetime. Organizations must nimble enough to adapt to the changes and to be positioned in the market for successful growth in the future. Those that do not will be prone to failure. The main thing that organizations must do in order to sustain in the market for a long time is to rearrange their efforts of strategic marketing (Doole and Lowe, 2005).
There are several ways by which organizations can rearrange their strategic marketing efforts. The first way is to replace of traditional one way communications continuous communication in order to construct better customer relationships on a one to one level. The second way is to collect information. During a prospect’s or customers’ first visit to the website the relationship should be established by the company initiates in order to understand their preferences. The third method is to use traditional strategic marketing forms to drive customers to the website and filter them into the communication continuum. The fourth way is to select a single source provider. The final way is to strengthen the brand name of the organization.
- Fox S C (2009), E-riches 2.0: next-generation marketing strategies for making millions online, AMACOM Books, USA.
- Dave C (2008), E-Business and E-Commerce Management, Pearson Education, New Delhi.
- Shaw M (2003), E-business management: integration of Web technologies with business models, Kluwer Academic Publishers, USA, p 89
- McLoughlin D and Aaker D A (2010), Strategic Market Management: Global Perspectives, John Wiley & Sons, UK.
- Doole I and Lowe R (2005), Strategic marketing decisions in global markets, Cengage Learning, USA.
- The problem of work-life balance in remote working - January 16, 2021
- Performance assessment of growth, income, and value stocks listed in the BSE (2015-2020) - January 6, 2021
- Trend analysis of stocks performance listed in BSE (2011-2020) - January 4, 2021