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Opreration Management

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Submitted By sistertiff
Words 964
Pages 4
Space and Place
BUS 620
Robert Tielman
June 18, 2012

Has the era of internet and ecommerce ushered in the end to the Mom and Pop/brick and mortar markets? Marketing strategies these days require much more than the weekly circular or small add in the local newspaper. The New Economy is taking over or is it? This discussion seeks to define and discussion the advantages and disadvantages of the marketplace as well as market space. It will also delve into the response to the plethora of market segments that exist along with identifying examples of organizations that have been success in establishing a space and /or place presence.
The New Economy
The term New Economy as defined by Mullins (2010) refers to “the industries that fuel the development of or participate significantly in electronic commerce and the Internet, develop and market computer hardware and software, and develop or provide any of the growing arrays of telecommunications services”. In other words it is the ability to buy and sell globally via the internet. In the beginnings sells through the internet consisted of non-perishable item. This means that the field of marketing has become of greater importance as well as more challenging.
There are some advantages and disadvantages to both. In the traditional marketplace products that are available can be purchased and taken into possession at the time of sale, which is not possible in the market space. When shopping online products that are shown are typically in stock and there is an array of items to choose from. In the market place items are limited to the space that is available in the building and occasionally items that were previously available are out of stock. While cutting out the middle man saves companies money that is passed on in lower prices when dealing directly with the consumers, it is sometime offset by the shipping cost which in

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