Chapter 1
The Need for a New Approach
I constantly hear the following six statements with regard to the business environment today.
1. The e-commerce revolution, the social network phenomenon, and convergence of media have changed the way the world does business.
2. We are dealing in a new commercial environment that requires a fresh approach to marketing our products and services, whether we operate in a bricks-and-mortar business or business-to-business (B2B), business-to-consumer (B2C) or consumer-to-consumer (C2C) transactions online.
3. B2B sales will be commoditized, with global online auctions favoring companies with lower manufacturing costs. Middlemen will disappear, and traditional buyer/seller relationships will weaken. The web will continue to cannibalize an increasing percentage of traditional sales at lower prices.
4. This new economy's consumer thinks and behaves differently. He or she is more educated, more cynical, has access to more information, and is more price conscious than the consumer of days past.
5. The most important keys to success today are a great product, highly competitive prices, strong brand awareness, and satisfied customers.
6. E-commerce represents the greatest advancement and radical change in business history.
In my view, although all these statements contain a sliver of truth, they are essentially wrong.
The new economy has changed the communication mechanism and improved efficiency and speed of transactions. Contemporary technology enables ...
