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In: Business and Management

Submitted By k8eak
Words 8700
Pages 35
Bringing a unique idea from concept to product, producing those products and brining them to market, selling them to customers, and making a profit is part of the life cycle of many new businesses. It is at that time that many business owners look to where their businesses can improve, what can be streamlined, and how to better meet the needs of current customers. Further than that is the analysis of how to reach out to new customers, markets, and increase the demand for their products. As the online marketplace expands and more and more consumers look to the virtual marketplace for products, services, and payment options, the opportunity to maximize exposure and business potential expands. Many businesses have an endless opportunity to expand to new markets, adapt the products they produce to expand market share, and modify their marketing plan to reach additional geographical customer niches. In a more defined area of the marketplace, businesses that provide a service to a specific geographical area have different challenges and perceived


payoffs to use the online market place to effectively expand the business. An electrical utility, for example, is not able to expand its customer base merely by increasing viability by expanding online to communicate to potential new customers the competitive pricing, reliable service, and products available to those who receive service from their utility. It is increasingly vital for businesses with similar fixed markets to maximize exposure, increase consumer satisfaction, and streamline business processes for meeting and expanding the services provided using online business expansion techniques. Utilities share a unique section of both urban and rural consumer spending. Contributing factors to the seemingly fixed market share include cultural and modern ways...

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