The effect of new economy on companies

1- Increase your company's capabilities
 via internet.
2- Three CEOS`s opinions about internet's impact.
3- How can organizations gain real customers?
                           4- Mistakes famous organizations
                           failed in.

 1- Increase your company's capabilities via internet.

 - By establishing one or more websites, a company can lists its products & services, the company's history, its business philosophy, its job opportunities, and any other information of interest to visitors. Unlike the advertisement & brochures of the past, the internet makes them able to transmit unlimited information on their site. Example "Grainger are putting a lot of catalogs on their websites, make it easy for visitors to order products".

- Companies can collect a lot of information about markets, customers, prospects, and competitors. They can also make marketing research using internet.

- Companies can speed up internal communication among their employees. Employees can download or upload needed information from & to the company's main computer.

- Companies can customize their products, services and offerings to their customers and can send samples, coupons & information to customers.

- Companies can save money by recruiting via internet not by paid advertisements and can offer training products that can be downloaded to dealers, employees, and agents so that they can easily be kept up- to- date.

- Companies can improve operations & logistics for cost savings. Internet considers an accurate & faster method to receive orders and payments among companies, their partners and their customers.

2- Three CEOS`s opinions about internet's impact.

- New technology change every thing, it will transform any organization in the world, change the way we do businesses, the way we teach our children, the way to communicate & interact as individuals. It creates winner & looser. (Lou Grestner, Chairman of IBM)

- Internet creates priority in and how you can make a plan to market your business if you have a website. (Jack Welch, former CEO of GE.

- ECommerce will change everything. It's not just a sales channel but it will transform your business. Companies will operate with a digital nervous system. (Bill Gates, Chairman of Microsoft).

3- How can organizations gain real customers?

- Marketing definition is "meeting needs profitably" this make marketer as Procter & Gamble noticed that people feel overweight but they want tasty but less fatty foods.

- Car Max noted that people need certainty when they buy automobile & invented new way for selling used cars.

- IKEA noticed that people want good furniture but with lower price & created knock-down furniture. All these marketers tried to turn social needs into a profitable business opportunity.

- General Motors, Kodak & Xerox confronted newly empowered customers & competitors and have had to rethink their business models.

4- Mistakes famous organization failed in.

- Jock Welch, GE`s brilliant former CEO: warned his company "change or die"

- A lot of companies failed to monitor their customers & competitors but they focus on improve their value offerings. These companies cannot define their target market.

- They are spending a lot of time to collect customers but they will loose them immediately.

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