Access large amounts of information about anything.Access a greater variety of available goods and services.Find the lowest prices, caused by their increase in buying power.
The new economy has provided more capabilities to both consumers and businesses. The old economy is characterized by the Industrial Age, which focused on mass-production and mass-consumption with a focus on efficiency. The new economy differs a lot from the old economy, which was based on the Industrial Revolution, manufacturing industries, and standardization of products to achieve economies of scale. It promises more accurate levels of production, more targeted communications, and more relevant pricing, and is therefore characterized by the so-called Information Age. Nowadays economy is based on the Digital Revolution and information management. Chapter 22: Managing a holistic marketing organizationīack to top Chapter 1: Defining marketing for the 21 st century.Chapter 21: Tapping into international markets.
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