Does Internet Marketing contribute to or highlight the need for effective identification of new product / market development opportunities?

Yes, internet marketing can contribute to and can highlight the need for effective identificiation of new product / market development opportunities. Because of the rapid explosion of the internet and its increasing (if uneven) penetration worldwide, business leaders today make important strategic decisions about the purpose and potential of an online presence. Managers have to take account of industry-wide factors to decide how effective or relevant the company's internet presence can be.

Web technology expands businesses into new products and markets and achieves significant aims and objectives. This can happen in a number of ways.

• Market penetration - businesses can increase their market share by offering better customer services or promotional information wihtin the markets they already serve.
• Market development - businesses can enter new markets and potentially increase their market reach overseas because of the relatively low cost of advertising.
• Product development - a business can develop new information products and these can be digitally delivered over the web.

Remember, business strategy and objectives are attainable by using the internet to enter new markets or develop products in existing markets.