Virtual Store, Product Exhibition and Marketing
As I walked around one of the branches of one of the biggest mall in Asia here in Davao City, Philippines for the purpose of looking up for these new tablets and laptops shown in the CES 2013, I was quite surprised to see none of those presented gadgets at CES were available on display in big computer stores inside this mall.
I was wondering, computer distributors in this part of the globe are very quick to market everything new that is “selling like hotcakes” in other countries. It suddenly occurred to me that how safe it really is for manufacturers and distributors to not ship inventories right away to far away countries without one hundred percent assurance of sales (100% sales assurance).
And even if they do, their virtual store also accommodates online purchases.
Warehousing of inventories can be very tedious but when a new product is set to be produced and to bring to the market, the online store has long in advance started promoting the product and pre-orders could even be there that already assure huge sales to the manufacturers. Stories of these mammoth pre-orders of items are not new to us.
And how did they introduce their products?
Yes through various media which largely of online marketing and promotion and online accommodation of purchases and acceptance of payments.
You see, in fact, money is already generated without yet the products. Money is kept in the manufacturers hands even before spending was done to mass produce the products on a large scale. This is splendid! A strong element of trust between manufacturers and buyers are present when this scenario happens.
Don’t you think so?
When manufacturers get into this internet thing to introduce their products they have understood pretty well what great benefit it could bring to their businesses. In terms of distribution and marketing and promotion which were the areas of big budget spending by any company, they have really cut a big portion of expenditures there.
In those days wherein the means of promotion are written materials like flyers and newspaper advertisements, posters, billboards, radios and TVs; all these were very effective. But this has become so enhanced when the internet came.
Orders and payment can actually be done online. Personal bank account can be accessed via your PC or laptop or Smartphones, and payment can also be done via the same process. Physically going to the bank can be lessened except for withdrawals and deposit. Online shopping is already available.
Think just how much savings this has given to every company. As a proof to this, there are no large and medium size companies that do not have internet presence where all kinds of business transactions could be done. And even small business enterprises are now on the net because it is the fastest way of letting people know that your business is now in existent and that they can buy online.
If you look at the internet (just try looking at one event, the CES 2013) you can see all manufacturers and distributors of all kinds of gadgets from all over the world, and when you order any product it can even be delivered right at your door wherever you are located in the world.
The high risk in terms of money of the very tedious and capital intensive process of manufacture, inventory, distribution (wholesale and retail) and down to the individual consumer has indeed cut substantially because of the coming of the virtual store.
In what “other” ways do you think the existent of the internet has contributed to the success of online purchases?
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