Does Internet Marketing contribute to or highlight the need for effective indentification of new product/market development opportunties?

Internet Marketing is when a business uses market research to help identify the needs and wants of their customers, which will gain the customers satisfaction and loyalty and this will therefore increase the business and profitability. It also ensures that the service or product provided suits the market.

Internet Marketing will also allow the business to see how much demand there is for the products that they are selling and by looking at this factor it can help them identify any new product market they should enter. A business will also be able to see their strengthes and weaknesses and therefore find method of improvements which could help develop the service that the business is providing.

At ASOS they use Internet Marketing in several ways which can help them to identify new markets that they could enter and they can also find ways of attracting more customers. For example at ASOS they have a blog where customers are able to add their comments and opinions into an open conversation. On the blog customers are able to talk about the products and offers that are being provided at ASOS, they are also other discussions about celebrities and the latest fashion trends. The blog is a method of communication which enables the business to have conversations with their customers as well as the customers having conversations with other customers; this will therefore create a good relationship and will help gain customer satisfaction. The business will also be able to take suggestions from customers about the new products that they should invest into. They could also take feedback from the customers about the service and product that they are providing and find ways of improving and developing the business.