In Preparing the Business Case for EC Investment,managers Should Examine

question 23

True/False

In preparing the business case for EC investment,managers should examine the potential additional revenues,such as increased revenues via products or services from a larger global market because of more effective product marketing on the Web.

Recognize the significant impact of digital technology across various industries.

Identify the impact of digital media on marketing strategies and the marketing mix.

Understand the evolution and various types of digital media platforms.

Comprehend the elements of the marketing mix and how they are influenced by digital media.

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Definitions:

Scarce Resources

Resources that are limited in availability and can run out if not used efficiently, leading to the necessity of making choices on how to allocate them.

Invisible Hand

A metaphor introduced by Adam Smith to describe the self-regulating nature of the marketplace.

Economic Prosperity

The state of flourishing, thriving, good fortune, and/or successful social status in terms of wealth, health, and happiness.

Incentives

Forms of motivation that aim to encourage people to perform actions or undertake activities by providing rewards or benefits.