8.3 Impact of the internet on business

1. Brand personification  

Through the internet, companies have managed to create a massive following of individuals with common interests in products and services. With the help of these online communities, enterprises can create a positive image and develop strong brands.

2. Increased research  

The internet provides in-depth information which can help business leaders learn about new trends, discover changes in consumer behavior. It also helps you to identify other things that enhance their knowledge and earn a competitive edge.

3. Easier marketing

Today, the internet has proved to be a cost-effective platform where companies can market their products and services without having to spend a fortune.

4. Improved data storage and retrieval   

The emergence of cloud-based software systems has made it easy for businesses to store and retrieve data.

5. Improved investment and collaboration opportunities  

The internet has made sharing of information easier among members of business no matter where they are. With enhanced communication and interaction, it has become relatively easy for business-minded individuals to collaborate and strengthen their enterprises through information sharing.