The Potential Of The Internet For Small Business Development

3418 words - 14 pages

The Potential of The Internet For Small Business DevelopmentAreas of business opportunity for SMEs using the internet.Why use the internet for marketing - On top of helping a small business develop, the internet also has the potential to increase the market profile of a small business. The internet is growing rapidly and many businesses have already harnessed its communication potential. Any small business with an iota of how to succeed will look upon the internet and its facilities such as the World Wide Web and email as a massive marketing opportunity. (www.bcentral.co.uk)The Web is available to potential customers on a 24 hour basis, which is obviously more beneficial and available than an average high street shop. The Web also holds the power of defining a company's audience and is then able to target this through the use of advertising, sales promotion and good public relations. Opportunities created by internet marketing include:*Interactive multimedia.*A cost-effective approach to marketing.*Global coverage*Using email.Internet marketing offers a cost-effective opportunity for small businesses to be represented with not simply text, but interactive colour pictures, film clips and sound. Not only is the small business represented in a commercial manner, but also customers are drawn toward the interactive aspect of the site. This takes one step further and where customers once passively absorbed product information, they are now able to experience products or services in a whole new way through the Web. The Internet allows all companies, regardless of size, the same footing. This is because any potential customer accessing a Web page will immediately be presented with that company's logo despite the actual location of that business. And so, in moving from a local to a global market, any small business will gain a significantly larger competitive advantage. Although in truth it may not be the case, in making a Web page look professional, the image of a company can be substantially improved. (www.bcentral.co.uk)The extensive PR activities available on the Internet will gain a company a great deal of exposure. Such activities include short releases detailing new products and services soon to hit the market aimed at appropriate groups through mailing. (www.bcentral.co.uk) The process of building and upholding customer relationships falls into four stages:*The awareness stage - getting a prospective customer's attention.*The permission stage - asking for their permission to stay in touch.*The involvement stage - when the customer demonstrates involvement with you, normally by making a purchase.*The loyalty stage - with repeat customers who tell their friends about you. (www.score.org)This will typically gain a response from those interested, and will direct them back to the relevant main marketing page. Likewise, in sponsoring a specific page, that may involve may be linked to a particularly useful and important activity, a company can raise its...

Find Another Essay On The Potential of The Internet For Small Business Development

Business Use of the Internet Essay

1525 words - 6 pages hackers. Using the internet to send email is now common place within the business world. “There are 144.8 billion emails sent daily around the globe, but only 14% of these are deemed important” (2012, mashable.com). Text based documents are sent instantly within an organisation or to a company on the other side of the globe. This is much quicker than posting it in the letter box and waiting for return mail. These emails could be details of a new

Business Use of the Internet Essay

815 words - 4 pages hackers. Using the internet to send email is now common place within the business world. There are 144.8 billion emails sent daily around the globe, but only 14% of these are deemed important (2012, mashable.com). Text based documents can be sent instantly within an organisation or to a company on the other side of the globe. This is much quicker than posting it in the letter box and waiting for return mail. These emails could be details of a new

The Small Business Administration (SBA)

1649 words - 7 pages , Subcontracting Assistance, COC and PASS programs. The SBA also tries to establish goals for contracting with small disadvantaged businesses. The last area of focus is Disaster Loans Assistance, which comes into play for assistance for non-farm, private sector disaster losses. Most small, independent businesses or individuals starting a business are eligible for SBA assistance. Because the agency is committed to economic development through small

The Small Business Administration (SBA)

1006 words - 5 pages , and protect insofar as is possible, the interests of small business concerns.” The U.S. Small Business Administration, is also known as the SBA. It was established on July 30, 1953. The Small Business Administration’s main offices are located in the United States, but they do help with many countries outside of the U.S. The have helped many small businesses be where they currently are, and they may have not been where they are now if it was not for

Business on the Internet

578 words - 2 pages question therefore is that it depends upon the particular circumstances in which the firm is operating and there are no simple rules. Nevertheless, it is clearly important for firms to be aware of the potential offered by the Internet for conducting business, particularly in reducing cost and efficiency to the customer. It is therefore recommended that all firms, whatever size or in whatever industry, think strategically about how to respond to the

The Internet and Business

720 words - 3 pages extremely important in the marketing aspect of a business. Starting with websites, businesses need an online presence. Many companies now maintain Facebook and Twitter accounts to provide company information, promotions and discounts. In fact, businesses use social media sites for areas such as customer relationship management, customer retention, market research, marketing and sales (Nordmeyer, 2014). With so many customers and potential customers

Business and the Internet

720 words - 3 pages that one year on the Internet is like seven years in any other medium. Fifteen million households connected to the 'Net' can be a large market for any business willing and ready to scoop it up. By the year 2000, the projection is that North America will have 38 million online households, one third of all households.The reasoning, or thesis, of the article is the question of whether the Web should be used for information purposes, or for a new

The title of this essay is Small business development of Fair Fast food restaurant, which is concerned about how Fair fast food restaurant successfully develop from a small business to a big industry

3491 words - 14 pages Title: Small business development of Fair Fast food restaurantExecutive summaryThis report covers the content that analysis of the Fair fast food restaurant is how to successfully operate and survive in the cutthroat market as a small business starter. Fast food and organized catering is nothing new to Hong Kong. Through SWOT analysis, we may easily find that Fair fast food had 12 years history in Hong Kong fast food industry and it is well

The Management of a Small and Large Business

2460 words - 10 pages set a plan to set goals, targets, strategies and objectives for the business, regardless of the organisation's size. It is important to know that in large businesses, a specific manager or management team will be focusing on the planning aspect of the firm as it is essential for developing a firm's potential. However, a small business may not need to formulate a separate department for planning due to the small number of people involved in

The Importance of Financial Management in Small Business

2795 words - 11 pages the various financial management ratios is of capital importance for the success of any business owner.The Importance of Financial Management in Small BusinessQuickfix is an Auto Parts company that was created by Andre Pires, after he had 15 years experience working in the automobile industry, first as a technician, and later on as the parts department manager, he opened his own company. The experience he had while working allowed him to be in

The Internet and The Development of Computer Networks

1030 words - 4 pages The Internet and The Development of Computer Networks The Internet is the name for a group of worldwide information resources. These resources are so vast as to be well beyond the comprehension of a single human being. "Not only is there no one who understands all of the Internet, there is no one who even understands most of the Internet" (Harley 2). The Internet is often thought of as a computer network, or sometimes a group of computer

Similar Essays

The Federal Government Small Business Development Program

779 words - 4 pages The Federal Government, with its agencies, aims to provide equal opportunities for people who wish to become entrepreneurs and make their living by running a business. In the world of businesses, many companies and owners face disadvantages brought by many factors. To counter these disadvantages, the US government created the 8(a) business development program. The program is administered by the Small Business Administration (SBA). The main

Development Of A Motivational Organization Plan For A Small Business

1195 words - 5 pages Organization's Motivational PlanI am President, and CEO of a small geneal contracting company. We are a medium size company for our market, with 20 employees. We operate in the residential, and commercial markets, specializing in higher end residential new construction and remodeling projects in neighborhoods which typically display homes of $ 250,000.00 or more. Tradesmen in this industry are independent, and perfectionistic. The craftsmen on

The Ethics Of Animal Testing For Vaccine Development And Potential Alternatives

2451 words - 10 pages animals in experimentation, we can ease public concern while upholding our moral responsibility. New technologies have allowed us to advance quickly in several disciplines of science and medicine. Though there is a need for animal testing, there are some potential alternatives in development that may have an impact on the way research is conducted in the future. Even if the use of animals during the pre-clinical stage of vaccine development cannot

Critically Assess The Case Of Government Support Of Small Business, Both In Terms Of Business Start Up And Development

2982 words - 12 pages Teaching for entrepreneurial development and small business has played a significant part in governments' policy approach to economic development .It is beyond doubt that there has been a significant growth in self employment and small business development over the past few years .As it can be seen from the quotes, small businesses are becoming more and more important and by now 99.1% of all businesses fulfil the characteristics of a small