Discuss some ways in which the Internet is used by business under a)Research and Benchmarking,b)Networking and Connectivity, c)Sales and MarketingNo.
Research and Benchmarking - The information revolution as it applies to the internet and the world of business has given even the smallest business access to instant data. Costly, time consuming reports that had to be compiled to give corporations and managers the information they needed to function and stay relevant in the industries they were a part of can now be delivered the same day, and tailored to meet constantly changing research and benchmarking needs.
Networking and Connectivity - Consider how much easier it is now to manage multiple branches, sales offices, warehouses, all because the internet gives us the capability to update every bit of company information on a continuous and real time basis. Your warehouse in Wichita, Kansas knows immediately if you have sold four extra units in Los Angeles, takes them out of the inventory system and orders four more from the manufacturer, all without missing a beat. It makes businesses more efficient, and therefore more profitable.
Sales and Marketing - One of the technological advances in recent years in terms of the internet and marketing, has been the ability of websites to consistently track where an individual visits on the web, and what they buy. This takes internet advertising from the age of the generic banner ads, placed everywhere, to specific ads arriving on specific users' web browsers, as it has been tailored to their specific shopping and surfing habits. This has led to a very significant rise in impulse sales via the internet.