Write short notes on Telemarketing and E-business.

Telemarketing:

Telemarketing is a part of direct marketing. Telemarketing refers to the use of modern telecommunications technology such as telephone, facsimile (tax), television, computer and Internet for marketing interaction between buyers and sellers. Under telemarketing, the manufacturer advertises the product, its features, uses, price and availability through the medium of television. The interested customers can place orders by mail, telephone etc. to the manufacturer. The deliveries are effected through some carrier, mail, etc.

Harrod’s of London has an international 800 number for U.S. customers and IBM uses it in Europe. Telemarketing has been criticized by some groups for invasion of privacy and high pressure tactics. However, telemarketing has grown in popularity because of the convenience it provides and savings in cost and time to the buyer and seller.

Telemarketing has revolutionized international marketing. It is now easy to. identify and profile customers or suppliers across the global. This has given global competition a new dimension.

E-business:

E-business may be defined as the business system properly networked by modern information technology so that all the major constituents of the business system, e.g., suppliers, bankers, customers, departments of the firm, etc are systematically interlinked for the efficient conduct of the business. E-business offers tremendous opportunities to business firms for expanding their sales and business relationships globally. Some of these opportunities are given below:

Growing use of Internet: More and more people are making use of Internet. Millions of people around the world exchange information and conduct transactions through E-commerce. The number is increasing day-by-day. E-commerce is being widely used in business as well as in social sectors.

Huge Potential: E-commerce offers tremendous scope for growth. It is very cost effective. Buying online can reduce the costs by 90%. The number of internet subscribers is growing at about 250% every year. Introduction of broadband and improved connectivity will boost the growth of E-commerce.

Trust Building: E-commerce website provides a forum for interaction between business firms as well as business and customers. Buyers and sellers get website easily and secrecy of information exchanged is assured. Companies operating website facilitate exchange of ideas and viewpoints between various interest groups in addition to promoting their own business interests.

Value Creator: With the help of E-commerce, business firms acquire knowledge and information on the basis of which they improve their intellectual capital. E-commerce has created several new markets and business. opportunities due to quick and inexpensive communication.