Effects of the Internet on the Global Economy
It is all about being connected. Throughout the ages being connected has allowed for the economy to grow. The modes of transportation connected the ancient worlds and individual economies grew or dwindled depending on the effectiveness of transportation. Most economic strongholds were on the waterfronts. Shipping was the main mode of transportation. This shifted from the advent of the steam engine. The era of the rail transportation allowed for economic centers to shift and permitted countries to be connected nationally and internationally. Again the economy has entered a new era of being connected by the Internet. "According to the record books, not since the …show more content…
The yellow area in the graph below would represent the "long tail" of low volume products that would now be available for distribution to many consumers. This has been beneficial to both the consumer and distributor of hard to find products and services. This theory can also be applied to the availability of information. Vast amounts of information are now available to those who are connected to the Internet when previously the availability of information was limited to the newspaper or local library resources.
The Internet has revolutionized the business and sales industry and has created an environment that enables consumers to purchase goods or services that are competitively priced. As the Internet continues to transform the commercial market, both speed and efficiency become the consumer satisfaction standard by which all purchases and transactions are measured against. These consumer satisfaction indicators will ultimately drive the growth and overall profitability of a company and dictate their financial position within the economic market. With the Internet in its infancy, it will be interesting to see how the Internet will shape the economy as it releases its full potential. It is about being connected.
Marketing Strategies and Technology Companies such as Marketworks, has capitalized on the openness of the free market in the U.S. and abroad. Their product called US Managed eCommerce Solutions is a comprehensive