E-Commerce A New Market Development for Existing Products & Services

Remember the times when people had a barter system where they used to exchange goods for goods but then people had a problem of measuring the product & services and with this buying & selling came into place with the birth of currency.

Buying-selling is not new; it’s the market which changed with time to time. From barter it moved to haats or weekly bazaars then to retail shops to retails malls in this modern world. Marketers have gone wherever their customers have interest, they moved to malls and today when marketers are watching the activities of their customer online, marketers have decided to go online as well.

With the help of ansoff model I will explain you how the marketers have found a new market for the existing products at online space.

You can see the growing importance on internet in people’s life; with this opportunity we will see how ansoff model will explain the market development in online industry.

It is always good to expand your market first because it has less expenditure and it increases revenue than compare to product development or diversification.

For an example if you are a small manufacture who is selling designer clothes at one location and wants to expand. Now he or she will have to open stores in other cities which will incur huge cost. Where as if he go online and launch a online portal for selling designer clothes online & promotes the website in the cities he/she wants to cover. His sales will increase without incurring much of expenditure; this is the beauty on online world. You can set up your business from home and supply your products to anywhere you want.

Here in ansoff model if the person find a new market which is online market he can do market development & gain more profits.

Internet market in growing very fast, people love comfort and wants goods & services at their door step & online marketing can help us do this.

It’s an opportunity for the entire youngster who wants to start their business, because today it will cost them less, BIG Thanks to online Marketing.


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