Discuss how the development of the Internet has changed the market structure in which companies operate. Remember that, we are assuming most firms can be categorized as being in perfect competition, monopolistic competition, oligopoly, or monopoly. Keep in mind, however, that perfect competition exists mostly as an ideal or benchmark, i.e. it is rarely if ever seen in the 'real world.'
Remember to use the criteria by which we categorize firms, e.g. the number of firms in a market, degree of competition, amount of market information available to both sellers and buyers, etc.
Lastly, see if you can use our managerial economic material to measure the impact of the Internet on market structure.© BrainMass Inc. brainmass.com October 25, 2018, 9:07 am ad1c9bdddf
Internet and e-commerce has played an important role in altering the market structure in which companies operate. By redefining the physical boundaries of trade and making entire world a global village, internet has revolutionized market structured and change the definition of various factors such as competition, number of players in an industry, consumer's access to information, ...
Discusses impact of internet on market structure.
Technology Impact using Multi-Channel Marketing as Example
One of the significant trends in consumer marketing is the emergence of multi-channel marketing of products and services. Organizations are using direct channels such as the Internet and catalog channels and other channels such as brick-and-mortar environments, either to seamlessly integrate their offerings across all channels or to use these different channels to segment consumers and implement differential marketing strategies.
Discuss the impact of this technology on customers (a) how the company introduced the new product to customers (b) ways that added value due to the new technology was proven (c) outline support plan for customers who may have questions (d) emphasize new partnerships with technology partners and enhanced customer experiences.
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