Online Marketing – Peter Griffin & Aidan O’Curry speaking at 15 Hatfields, London in May 2009
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Facebook. Twitter. Flickr. These social spaces used to be buzz words. Now they are commonplace – and very heavily used. Facebook and Twitter are estimated to have close to one billion users between them (probably many of the same people using both). That’s over ten percent of the population of the entire world!
It’s no secret that these sites are primarily used for social networking: keeping in touch with friends, reconnecting with long lost relatives, keeping abreast of the latest celebrity smut. However, recent changes – particularity to Facebook – indicate that the tide is changing. Businesses have caught on to the power of social marketing. Facebook states that over sixty million businesses have a registered “Fan Page” – a social space that allows a business to connect to fans and people in their local demographic. Furthermore, Facebook has even developed its own computer language called “FBML” – a variance of HTML that allows designers to write code in order to customize a Facebook Fan Page to suit the needs of a particular business.
In the modern business world, practices like global sourcing and multinational purchasing have become common practices, and using the online market and suppliers online is done every day, especially to find wholesale products from China. But what exactly is an online market and what are suppliers online? Global sourcing and multinational purchasing are done almost exclusively on the online market using suppliers online, so it is important for any business owner to completely understand these terms.
The online market, where global sourcing and multinational purchasing is done and where suppliers online can be found, is the marketplace on the Internet. Global sourcing can be done quickly and easily by simply running a search on your computer, and the results that show up are part of the online market. The online market can be very helpful for any business and can enable companies to cut costs and maximize time. Unlike b2b markets, which consist entirely of b2b sites, the online market is anywhere on the Internet where goods are bought, sold, and bartered, and this includes multinational purchasing. There is no physical location for the online market, just cyberspace. Yet this market is essential for global sourcing and multinational purchasing, and the entire wholesale product from China market is almost completely dependent upon the online market and suppliers online.
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