Question

Please explain Internet and competitive advantage?

How internet Impact on "Product lines", "New product development" and  "Product life cycle". ?

Answer 1

1) The competitive rivalry has become much intense in current market scenario and companies are going to any length to increase the market share and help boost the economy. The internet is a powerful medium for companies to increase their competitive advantage by taking actions which attracts much larger customer base. Some of the points are:

• Internet helps to directly interact with customers and get the feedback
• It helps to build relationship with customers for long term
• The input for new product and service can be taken from customers basis their choice
• It helps to provide trend of customer behavior and market so that companies are able to do adjustments and changes on time
• It provides information much rapidly for companies to trigger action

All these help in competitive advantage for a company