technlogy p
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Instantaneous
Convenience
Global communication to customers
Know, interact and market to customers as individuals
And for information based products and services there's instant
distribution
These characteristics can be overcome by conventional stores by activities such
as longer opening hours (many stores are now open 24 hours), large amounts of
car parking, express checkouts (some companies are experimenting with
different techniques to make checkout obsolete), have well developed CRM
systems that are able to identify each customer, and increase the range of goods
on offer to create a one-stop shop for convenience.
One of the advantages that companies are keen to utilise is that "the internet
seems an ideal channel for getting information about customers, most of whom
will share personal information that they would withhold from high-street retailers"
Field, C., Bradbury, D., Bricknell, D., Towner, N., Johnson, M. (2001), this will
feed back into the companies CRM system allowing for relationships to be built
with their customers. With this information it is possible to look at what customers
buy to put items together to speed up shopping allowing up and cross selling
both online and in stores. With the Internet there is the "opportunity to
communicate with customers on a one-to-one basis" Warren, L. (2001b) and
"build a positive long-term relationship with the customer"
there is the
opportunity to collect more information, build relationships with your customers
and allow them great flexibility in how you sell to them...