Today, the latest version of the web is immensely viewed as a platform that is catering to interaction, innovation and even online delivery of services (Petrassi, 2008, p.The emergence of businesses via the Internet due to the evolution of the Internet has significantly created an imbalance of power in the marketplace. Going by Porter’s five forces model, it can be simply said that the web 2.0 and the emergence of various business on the basis of it has significantly provided a lot of power to the buyers and consumers. Using the Internet, consumers can access feedback for the products that they are willing and interested to buy simply by visiting some websites or product related blogs (Barefoot and Szabo, 2009, p. This has, in return, promoted high levels of diminishing customer loyalty for any particular brand (Governor, Hinchcliffe and Nickull, 2009, p.The emergence of web 2.0 provides a great window of opportunity for companies around the globe. The companies can display their products to a global audience while also promoting their products using various extensive Internet applications, thereby increasing their degree of involvement (Roughley, 2007, p.As of today, companies are making their presence felt on the social networking sites and are increasingly rolling out online marketing campaigns in an attempt to increase the degree of involvement for the consumers, which helps in increasing their marketing potential (Lincoln, 2009, p. The web 2.0 provides the online marketers with the opportunity to create advertisements that are engaging, entertaining, informative and creative at the same time (Tuten, 2008, p. This helps in creating a viral effect for the marketing campaigns of the companies (Borges, 2009, p.The evolution of web 2.0 has provided the business organization with the chance to engage consumers in a direct interaction process. Through the application of various tools and processes, many small, medium and large business organizations have got the chance to develop an increased level of consumer awareness through the process of mutual interaction, which has, in return, contributed to the development of the increased rate of customer and consumer satisfaction (McKinseyQuarterly.The evolution of Web 2.0 has provided individuals and businesses all over the world with a unique feature that is highly beneficial to the development and evolution of the human and business processes. The
BibliographyKidd, T.T. and Chen, I. L., 2009. Wired for learning: an educators guide to Web 2.0. USA: Information Age Publishing, Inc.
Please type your essay title, choose your document type, enter your email and we send you essay samples