Question

Discuss the impact of ICT on marketing. For an organisation of your choice recommend a suitable use of e-marketing tools. Explain how your suggested solution impacts upon the company’s transaction costs.

Answer 1

Impact of information communication technology in a business will be to help the business expand and improve efficiency.

Information communication technology is helpful in various department of company. it will be helping the company in managing database development and website design to market research and it will also help in direct mail marketing and training and it is also critical for the economic success of a company.

Information Communication technology will be using various kinds of telemarketing tools like generating appointments with potential customers and using of company directory software to identify decision making and capture their details so this will be helpful in maximizing the efficiency of the company in the long run.

An organisation of my choice will be Reliance industries retail business which can use Electronic Marketing by digitalizing its business in the the covid world which will help in gaining in market share and it will be also helpful in managing of the cost because it can use various marketing tools like social media marketing and reach to a large group of customers.

This will be helpful in reduction of their overall transaction cost because this will be leading to loss of employees and it will also help this company in order reduce warehousing cost to a large extent.

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