Academic paper summary

The digital revolution has disturbed marketing to its core, with customers proposing their own prices and buyers and sellers dealing independently in trade. Companies can track every single decision making process and shift from broadcast communications to interactive communication that provides information while educating, entertaining and persuading the consumer. This is consistent with Nicolas Negroponte's book Being Digital, where information is no longer 'pushed' at consumers. European consumers are empowered by the Internet, creating a truly borderless economy. The most important details in this text are the emergence of 'cyber consumers' and the cyber business-to-business world, the changing reality of an increasingly complex, dynamic and chaotic world, and the waves of entrepreneurship and innovation and their associated new business models.

Cyber consumers expect to be able to customize everything, engage the producer in the kind of tussle that used to characterize the street marketplace, and obtain third party endorsements and evaluations. Cyber consumers vary greatly with respect to the degree to which they rely on the Internet.

References:

Wind, Jerry and Mahajan Vijan( 2002). "Digital Marketing." Symphonya. Emerging Issues in Management, no. 1, pp. 43-54. (Accessed June 02 2023).