EVOLUTION OF E-MARKETING
The
history of e-commerce can be divided into two periods. The E-commerce I era
was a period of explosive growth, beginning in 1995 with first widespread use
of the Web to advertise products, and lending in 2000 when stock market
valuation for dot.com companies began to collapse. E-commerce I period was
driven largely by vision of profiting from new technology. The source of financing
was venture capital funds. The emphasis was on destroying traditional
distribution channels and disinter-mediating existing channels, using new pure
online companies who aimed to achieve first mover advantages.
The E-Commerce
II era begun in January 2001, by which time a reassessment of e-commerce
companies had occurred. E-commerce II period continues an extremely rapid pace
of growth in customers and revenue, it is clear that many of the vision for
e-commerce developed during E-Commerce I have not been fulfilled. First-mover
advantages appears to have succeeded only for a very small group of sites. The
first mover have been long-term losers, with the early-to-market innovators
usually being displaced by established “fast follower” firms with the
financial, marketing, legal, and production asset needed to develop mature
markets.
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