How Internet changed consumer and supplier relationship
The emergence of the internet has changed the relationship that has been existing between the customers and suppliers. Currently, the customers have a greater control on what they want to purchase as they can easily identify supplier’s online, look at the current reviews and look at price comparison sites. There is no word of mouth that existed before since the customers interact with a lot of platforms online that contain a list of suppliers and chooses whom they wish. The same platform provides payment options, and when the provider receives the payment, he/she releases the product to the customers. Various successful business has implemented e-commerce something that has drastically reduced traction costs as little paperwork is involved. Through e-commerce, the supplier can submit their bids, and it is the work of the company to evaluate online without meeting the provider. The chosen supplier is the only person that will meet the management
The internet plays an integral role in business at the moment. Just as Allen has put it, organizations have a lot of internet services that they can choose from such as Xfinity and business internet services like Optimum. Currently, companies can share a lot of information with their employees through an internet. Customer’s feedback is essential to the company as the company can listen to customer’s feedback to make any improvement. The internet has made this easier as the customers can post their feedback easily through the internet. To reach more customers, companies are using the internet to advertise their product online, as such, customers can encounter a lot of options where they can choose from. This has made it easier for customers to compare prices before making the final move.