Over the past decade, one of the most important trends offered by information technology in the field of business and marketing has been the development of e-marketing. It has revolutionized the way businesses are done. Marketing as an operational and dynamic science has been consistent in keeping pace with the developments in the Information Technology revolution. The Internet has proved to be a major axis of this revolution leading to the concept of e-Marketing or Internet Marketing. The focus of the firms or organisations remains the same-meeting the needs of their customers, creating value for customers, and develop communication and relationship networks between them and the customers.
Marketing of goods and services and the exchange of information and ideas through the use of the Internet and other electronic means is termed as e-marketing. According to Strauss & Frost (2001), it can be viewed as a modern business practice that uses electronic data and applications in order to plan and execute the conception, distribution, and pricing of ideas, goods, and services. It helps in creating exchanges that lead to the fulfillment of individual and organizational goals. The use of online activities for building and maintaining customer relationships through the exchange of products or services that fulfill the requirements of both buyers and sellers is termed as e-marketing (Saffu and Walker, 2008). The various benefits at offer include globalization of trade, removal of the constraints of time and space, speed, efficiency, and a significant reduction in operational costs. It helps to find new customers or suppliers and new opportunities to exploit. The evolution of the Internet has led to a change in the way businesses are conducted and has generated alternate channels for the introduction of a new product, its competitive pricing, electronic distribution, and payments. With the increased use of the Internet to do business things, it has become imperative for companies to conduct their businesses online also in order to maintain their competitive advantage (Baourakis et al., 2002).
For citing this article use:
- Haque, M. A. (2015). Customer Relationship Management in e Marketing with special reference to Indian Banking Sector.