CONTEMPORARY ISSUES AND MARKETING

Contemporary Issues and Marketing



Contemporary Issues and Marketing Assignment Brief

Introduction

The main purpose of this paper is to make an analysis on the forces which have brought an impact on the marketing innovation. The force which has been described in this paper is the technological force which has brought a very positive and influencing effect on the marketing innovations. In the technological forces, the force of internet is the main source which has given rise to the innovations in the marketing. The online marketing is developing with the every passing day. New techniques are emerging and more companies are going for the internet marketing. These days, there is not a single company which is not using internet for promoting their products. The use of internet is increasing day by day. According to the estimates given by Internet World Stats, there are almost 52,731,209 internet users in United Kingdom by December 2011, and it is expected that within two years the number of these internet users in United Kingdom will get doubled (Bharadwaj, 2000, p. 169). Thus, the companies are using different innovative ways to promote their products through the usage of internet. Internet marketing is a new and innovative way through which the companies can target the market all around the globe. The internet marketing is considered to be an innovation in the e-commerce marketing. This is a relief for the marketing managers of the companies in order to develop the value added tasks like marketing plans which are developed for the better development of the company. In the meantime, North America has the highest adoption rate of the Internet (77.4% of its population have adopted the Internet) while Africa has the least adoption rate of the Internet (only 10.9% of its population are connected to the Internet). The differences in economic development may contribute to the variances in adoption rates of the Internet between developing and developed regions. The world has about two milliard Internet users (or 28.6% of the world population) in the first half of 2010, and has achieved over 444% growth for the period of2000-2010.

Development in the Marketing Environment

Internet has played a very important role in the development of innovations in the marketing environment. Before the origination of internet, companies used to adopt the traditional methods of marketing their products like the bill boards, television and radio etc. These mediums of promoting the products were not reliable enough to target a huge market. These mediums were enough to target only a small range of the customers (Martin, 2001, p. 180). Thus, the internet brought innovations in the marketing environment. With the use of internet as a source of marketing, companies are now targeting the customers all around the world. The internet marketing has not become a compulsory essence of marketing, and it is also known as the e-marketing, digital marketing, online marketing and web marketing. Through the internet marketing, companies advertise their products and services through ...