Answered: How has the internet influenced the…

Business

Marketing

How has the internet influenced the five forces with an industry?

Marketing

20th Edition

ISBN:9780357033791

Author:Pride, William M

Publisher:Pride, William M

Chapter3: The Marketing Environment

Section: Chapter Questions

Problem 4DRQ

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Concept explainers

Product and Service Classification

Classification of goods and services categorized between industry and customer goods is known as Product and Service classification. It is based on brands, quality, and quantity which companies deliver to the concerned client. Industrial goods are produced for industrial work, whereas consumer goods are produced for personal consumption by the customers. Marketing and sales need technological methods, a healthy environment, proper market strategies, marketing environment in terms of productivity and profit.

Question

1. How has the internet influenced the five forces with an industry?
2. What are the two ways that can achieve cost and price advantages according to the paper? Which is better?
3. Does the internet overturn the traditional way for doing business? What are some reasons given?

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