Business & E-Commerce – The Twiddling Thumb
12 Mar 2015
The rapid development of technology and scientific advancements in every walk of life has brought about a significant change in the way business is carried out. No longer does a company work by the traditional principle of market research, developing a product, and then throwing it into the market for consumer response and market testing. This process of product development has been revamped today where companies first develop a product, then throw it into the market and help potential customers develop a taste for this new specimen.
Taking Apple as an example here, back in the days when the first iPod or iPhone was introduced, the general public had no concept of a touch screen phone, or music on the go in a device as small as the iPod shuffle. Apple, however, helped them develop a taste for such products, and today, a significant number of people are well aware of such technology.
Likewise, the scope of companies operating today varies significantly from that of companies operating 20 years ago. Having brick and mortar presence was important, and these companies carried out one way processes and communication. Contrary to this, today, customers demand for their voice to be heard, and their opinion to be taken into account. They do not want a product simply provided to them but instead want to give their two bits to the company, and have their voice heard and acknowledged.
As a result, growing companies or already well established companies are today seen constantly indulging in two way communication with their potential customers, in order to make them feel important. Furthermore, online presence has become an important factor for a company’s’ success. The first thing customers do when they hear of a brand is to Google it or search the brand page on Facebook, and gather their own information, rather than simply relying on what the brand tells them and makes them believe.
The surprising part about e-commerce is the amount of popularity buying and selling on Facebook has gained. Every other person seems to be running a business via various groups and online pages, selling products they specialize in. Strong competition spells rivalry in the industry, and such business do not even have brick and mortar presence, yet they are doing as well as physical stores themselves. Even though the essence of buying and selling indeed lies in touching and feeling products physically, walking into a store, and meeting sales reps etc. However, for people who do not have the time or energy to do so, e-commerce is the perfect solution.
E-commerce, no doubt has brought about a great positive change in the way business takes place today and has entirely changed the dynamics of the corporate world. The “twiddling thumbs” play an important role in all activity that takes place in various walks of life, and the development and advancement of technology will only bring about a greater change in the way these businesses carry out their operations.