Dzerikh, A.

Usikov, V.A.

English

Usikov, V. A.

eLibrary National Mining University

Dzerikh A. V.A. Usikov, research supervisor National M. Tugan-Baranovsky University of Economics and Trade of Donetsk  DEVELOPMENT OF INTERNATIONAL MARKETING  IN THE INFORMATION AGE  The new economy has brought success to many organizations that use technology to apply marketing concepts like customer focus, good value, quality service, and efficient exchange mechanisms for satisfying customer needs and wants. In contrast, the old economy was based on the Industrial Revolution and on managing manufacturing industries. The digital revolution has placed absolutely new set of capabilities at the disposal of consumers and businesses. Consider what consumers have today that they didn’t have yesterday. A substantial increase in purchasing power. Consumers and business buyers are only a click away from comparing competitor prices and product attributes, getting answers, making purchases, even naming the price they want to pay for a product. A greater variety of available goods and services. People can order almost anything over the Internet: furniture (Ethan Allen), management consulting, washing machines (Sears), even medical advice. A great amount of information about practically anything. Online people can read almost any newspaper in any language from any nation and access encyclopedias, dictionaries, medical information, movie ratings, consumer reports, and other information sources. A greater ease in interacting and placing and receiving orders. Buyers can place orders from home, office, or mobile phone 24 hours a day, 7 days a week, for convenient delivery to home or office. An ability to compare notes on products and services. Customer can enter chat rooms and log onto specialized sites to exchange information and opinions on areas of common interest. The new economy has also brought companies a new set of capabilities. First, they can operate a powerful new information and promotional channels with augmented geographical reach. Using one or more Web sites, a company can promote its products and services, its history, its business philosophy, its job opportunities, and others information of interest to stakeholders. Companies such as Grainger are posting huge catalogs on their sites so customers from around the world can search for and order products. Second, companies can collect fuller and richer information about markets, customers, prospects and competitors. Conducting marketing research using the Internet, marketers can arrange for focus groups, distribute questionnaires, and gather primary data in other ways. Third, companies can use intranets to facilitate and speed up internal communication, allowing employees to query one another, seek advice, obtain training, keep internal manuals and policies updated, and access needed information from internal sources. Fourth, marketers can efficiently send coupons, samples, and information to customers on request. They can also customize offerings, services, and messages to individual customers, based on information from internal databases and supplement information. As all companies are buyers as well as sellers, they can achieve substantial savings by using the Internet to compare seller’s prices and purchasing materials through online auctions or by posting their own terms. Finally, companies significantly improve logistics while improving accuracy service quality through the online exchange of information, orders, transactions, and payments between companies, their business partners, and their customers. Whereas the Industrial Age was characterized by mass production and mass consumption, stores overstuffed with inventory, ads everywhere, and rampant discounting, the Information Age is leading to more accurate levels of production, more targeted communications, and more relevant pricing. This article will consider how marketing is changing under the impact of these new forces. 

DEVELOPMENT OF INTERNATIONAL MARKETING  IN THE INFORMATION AGE

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DEVELOPMENT OF INTERNATIONAL MARKETING IN THE INFORMATION AGE

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