World has become a global village. Conducting business in the new digital era will call for a new model for marketing strategy and practice. The internet is revolutionizing how companies create value for their customers and try to build strong relationships with them. This digital age has fundamentally changed customers’ philosophy of convenience, speed, price, product knowledge, and service. Thus, today’s marketing demands introduce new thinking and action-plans. Companies need to retain most of the skills and practices that have worked in the past. But they will have to add essential new competencies and practices if they want to compete, rise, and prosper in this new digital environment.
E-business involves the use of electronic platforms as intranets, extranets, and the Internet to conduct a company’s business. Almost every company has set up a website to inform about and to promote its goods and services. Others use websites simply to build strong relationships with their customers.
E-commerce is more specific than e-business. E-business includes all electronic-based information exchange within or between companies and customers. In contrast, e-commerce involves buying and selling processes that are supported by electronic means, primarily the Internet. E-market is ‘marketspaces’ rather than physical marketplaces. Sellers use e-markets to offer their goods and services online. Buyers use them to search for information, identify what they want, and place online orders using credit/debit cards or other means of electronic payments.
E-Marketing in the Digital Era
E-commerce includes e-marketing and e-purchasing or e-procurement. E-marketing is the marketing side of e-commerce. It includes a company’s efforts to communicate about, promote, and sell the goods and services over the internet. Hence, Amazon.com, LLBean.com, eBay.com, and Dell.com conduct e-marketing at their Websites. The flip side of e-marketing is e-purchasing; it is the buying side of e-commerce. It consists of companies purchasing products, services, and information via online suppliers. In business-2-business buying, e-marketers and e-purchasers come mutually in huge e-commerce network. E-marketing can also offer greater flexibility to marketers and buyers both.
Finally, the Internet is a truly global medium that allows buyers and sellers to click from one country to another in seconds. Now more sellers can sell their goods and services online and more buyers can take more benefits from it.