Business Studies

Describe the evolution of the internet and the impact this has had on marketing over the past 5-10 years. Provide specific industry examples to illustrate your ideas.

ANSWER

Evolution of the Internet and its Impact on the market.

Internet is a vast network that connects computers all over the world. The internet came as a research of research work that was done by the government researchers to share information. In the 1960s, computers were bigger with less features that only allowed users to carry out few tasks on the internet (Zhou et al, 2008). The internet was only used for sharing information between powerful entities that had fully control over it.

In the 1970s, the Soviet Union’s launched the sputnik satellite that brought in important elements that made the US department to consider ways information could be disseminated. This was propelled by the existence cold war. Since that period, new features have been created on the internet to give room for easy accessibility and efficiency. In the year 1983, it is the official birthday of the internet. Transfer Control Protocol was a new protocol that was created to allow computers to communicate with each other. Since the internet was evolving at a faster rate and people from different places were able to communicate, this led to the creation of online marketing sites.

The first digital market was used in the year 1990s after the development of Web. Since then digital marketing as taken the phase of the world. Marketing over the internet has generated more profits and association over the years. In the past 5-10 years, more companies depend on online marketing for their sales and advertisement of new products (Yamin, 2017). Amazon depends on the internet to ensure its goods are delivered to consumers with a small shipment fee. Branex consultancy solutions PvtLtd is among the best online media companies in the American market with a 5 star rating. This has been achieved through the use of the internet. The company offers plethora of services in online media platforms (Khairullaeva et al, 2019). Digital companies such as Samsung depends on the internet to push their products on the market. It is easy to advertise a product over the internet rather than have a physical endorsement of it on the markets. This data was presented by Samsung CEO about digital market and its benefits to the company. More companies have consider the use of the internet to market their products, this has resulted in an increase in revenue (Yannopoulos, 2011). This is due to reduced advertisements cost and the volume of internet users have increase making the market shares of companies such as Microsoft to rise. There has been an increase in the number of job opportunities over the past 5-10 years as the need of having a well skilled digital marketing team is crucial.

References

Bizhanova, K., Mamyrbekov, A., Umarov, I., Orazymbetova, A., & Khairullaeva, A. (2019). Impact of digital marketing development on entrepreneurship. In E3S web of conferences (Vol. 135, p. 04023). EDP Sciences.

Yannopoulos, P. (2011). Impact of the Internet on marketing strategy formulation. International Journal of Business and Social Science, 2(18).

Yamin, A. B. (2017). Impact of digital marketing as a tool of marketing communication: a behavioral perspective on consumers of Bangladesh. American Journal of Trade and Policy, 4(3), 117-122.

Zhang, G. Q., Zhang, G. Q., Yang, Q. F., Cheng, S. Q., & Zhou, T. (2008). Evolution of the Internet and its cores. New Journal of Physics, 10(12), 123027.