How Internet Can Harmonize the New Company Capabilities and Improve Business
New Company Capabilities in marketing means exploring the new options that are available. It means using social media and internet to promote a brand and to know the customer preference and know the competitors. The latest digital revolution has helped companies to reduce time in doing business and has also improved the ease of communication with consumers.
How can a company improve their business by tapping new market?
A company need not sell their goods in a geographical location only. They can make a website that sells goods, and this site can send goods to remote places globally. The payment system should be secure, and this will increase the confidence of people, and they will start investing in an ecommerce site. The company started promoting the ecommerce site by giving a discount, and this will attract many customers as the company need not pay any commission to middle men.
New Company Capabilities will mean that company can use social media for transferring important messages using Facebook and WhatsApp. Companies should make sure that only important messages are transferred, and there should not be any sharing of personal messages. The aim should be to improve the internal communication, and there should be a way to address internal problems.
The supply chain can be improved by using new company capabilities, and the whole system can be digitalized. Steps should be taken to ensure that storage in a warehouse is done based on requirement and demand and this would mean that goods are available to consumers but would not be lying idle causing problems to the company.
Data analytics and market research can be improved when companies would track consumer behavior and preferences, and this will help a company to understand the demand of consumers. A company can start sending newsletters based on the computer buying and can also highlight products that consumers may be looking for. For example, if a consumer is found searching for perfumes of particular price range and if that product is not available in the store, a consumer can be informed using social media when a product of that price range arrives.
Relationship marketing with consumers can be improved using social media by giving thanks, message and by sending happy birthday wishes. New product offers and discounts can be sent as a mobile message and can send WhatsApp also. Many information about the company progress can be emailed.
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