The Impact of Technology

Chapter 9

At the very least the WWW has provided marketers with a new medium to communicate with its prospects. Product managers understand that prospects go through multiple stages prior to an exchange. These stages are: unawareness-awareness-interest-expectations-trial-decision-confirmation and reinforcement of expectations/attitude-brand loyalty. The WWW is a first rate technique to facilitate the educational process and move prospects along the various stages. All this while being non-intrusive, cost effective and at a prospect's self-selected pace.

Besides, the above stated information dissemination function, the WWW may also be utilized as an easy to develop low cost channel for the product manager. Some additional benefits include: the ability of small business to extend its reach globally, the ability to provide current information as updates are easily undertaken, elimination of the overhead costs associated with a physical presence and associated personnel costs. The WWW also provides for an instantaneous feedback mechanism with the various stakeholders. In summary, the WWW provides for enhanced communication, a higher level of customer service, and sales support all in an effort to enhance brand equity and obtain brand loyalty.