Online vs. Traditional Marketing

Marketing encompasses a broad array of activities and strategies that deal with pricing, selling, and distributing a product (Wheelen & Hunger, 2000, p. 98). Using a market development strategy, a business organization or business unit works to either capture a larger share of an existing market for current products through market saturation or penetration or to develop new markets for current products. Consumer product manufacturers and distributors have become expert at using advertising and promotion to achieve one or both of these goals (Wheelen & Hunger, 2000, p. 99).

With the development of the World Wide Web or the Internet, new marketing venues have become available. Marketers in both the business-to-business (B2B) and the business-to-consumer (B2C) sectors are now using the Internet for online marketing. Online marketing may either supplant or augment traditional marketing modes, which include the use of other media and direct contact with potential or already identified customers (Pride & Ferrell, 1987, p. 111).

Generally, marketing is defined as individual and organizational activities that facilitate and expedite satisfying exchange relationships in a dynamic environment through the creation, distribution, promotion, and pricing of goods, services, and ideas (Pride & Ferrell, 1987, p. 112). The dynamic nature of the

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rtant marketing tool, thus making it viable to purchase goods world-wide with little effort and in an effective time and cost saving manner. For developing countries, this digital revolution offers excellent opportunities for economic growth and development. For instance, e-commerce has impacted favorably on small and medium-sized enterprises (SMEs), boosting their capacity to compete, locating their position, and popularizing their products in the global market place. The number of people using the Internet around the world is increasing rapidly, the United Nations Conference on Trade and Development (UNCTAD) predicts the number of users to reach 655 million by the end of 2002, or one-tenth of the world's population, compared to 500 million in 2001. The annual E-commerce and Development Report estimates that trade in goods and services over the Internet could reach US $2.3 billion this year, a 50% jump on last year, with the potential of increase up to another 60% to reach US $3.9 billion by the end of 2003. Gaffney (2002, p. 1) commented that in 2001, online advertising fell nearly 11 percent from $8.2 billion in 2000 to $7.3 billion in 2001. Failing dotcoms which accounted for 70 percent of online ad/marketing sp
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Approximate Word count = 9698
Approximate Pages = 39 (250 words per page)

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