The Internet is a rapidly growing network of millions of business education and research and network connecting hundreds of millions of computers and they are users in over two hundred countries. It is a network of global exchanges – including private, public, business, academic and government networks – connected by guided, wireless and fiber-optic technologies.
Business value of internet: The internet provides a synthesis of computing and communication capabilities that acids value to every part of the business cycle. Primary reasons for business value include the use of the internet and Web for interactive marketing and customer service. Generating revenue from the internet through electronic commerce applications is a growing source of business value. Most companies are building commercial sites on the World Wide Web to achieve four major business objectives –
- Attract new customers via Web marketing and advertising.
- Improve service to existing customers via Web customer service and support functions.
- Develop new web-based markets and distribution channels for an existing product.
- Develop new information-based products accessible on the Web.
- Identify new product development opportunities with your consumer
- Delight the customer to create brand loyalty.