Electronic Commerce and Marketing Practices

Paper Summary:

While the internet is creating radically new paradigms for e-commerce, this paper discusses how marketing in particular is undergoing a transformation. It explains how many businesses are recognizing and harnessing new ways to create and deliver goods and services to consumers, and the most innovative companies have re-engineered the consumer's experience so that shopping is no longer time-consuming and onerous. It discusses how other leaders are challenging traditional practices and leveraging powerful tools that dramatically improve the productivity of marketing communications, advertising, and pricing.

From the Paper:

"The Internet is transforming the practice of marketing, creating new ways of delivering value, and improving the experience for consumers. When announcing his company's acquisition of CDNow in July, Time Warner Inc.'s chairman and CEO, Gerald Levin observed, "I still don't think people get that there is a revolution going on with the Internet." (Ziener Vol.126)Perhaps with the benefit of hindsight, we will look back on the last 18 months and conclude that the Internet challenged conventional marketing practices and created radically different paradigms for doing business. Some have likened its impact to electricity, television, and other revolutionary technologies."

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