Changing Market Relationships in the Internet Age

This volume, which takes the form of an essay, attempts to structure a
forward- looking approach to the evolving role of marketing in today's
economy. Many organisations today recognize the need to become more market
responsive in view of the growing complexity of the global and interconnected
market in which they operate. Internet technology is resulting in an
increasingly globalised market, with easier access to information, new market
players and new forms of partnerships. It is also changing consumer behaviour
and reinforcing the power of the market over business. It is creating virtual
markets where consumers can find customized solutions to their problems which
cut across traditional market boundaries. In this new environment, traditional
market participants have changing roles, new market actors are emerging and
competition is intensifying. To be successful, being customer-oriented is not
enough. Business leaders have to review their strategic options and stengthen
the market orientation of their enterprises to cope effectively with today’s
highly competitive, multi-stakeholder market. The objective of this book is to
revisit the concept of traditional marketing management and to analyse
changing market relationships among market players and their impact on the key
decisions of strategic and operational marketing.