The changes in technology have had a tremendous influence in modifying as well as turning over existing processes. The development of information and communication technology has driven both globalization and change of value creation towards services. Information technology has given businesses opportunities that never existed before. Technology has given business access to more information. It has also given businesses the ability to reach out to extensive customers and carry their operations in time facilitating real-time product consumption and tracking business abilities (Melville, Kraemer and Gurbaxani, 2014). It has also enabled modification of existing products and services which is a great way of staying relevant while achieving greater development.
One of the prime example of how new technology has impacted a business model is Walmart. Walmart started in 1962 and established its business model around getting the customers into their stores. Once this business model was established, they increased in size and opened more than 4,000 stores across the United States. The high-tech developments of Walmart dramatically influenced customer experience and evolved Walmart brand image from a traditional one to a digitized one. The developments in technology have also increased the Walmart customer base over a broad geographical area. It is therefore important for businesses to adapt their business model, organization and corporate culture to stay competitive.
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Operational CRM is the process that permits organisations to take care of the needs of their customers. It also gives support for several business processes such as service automation, marketing automation; better sales force automation and ability to care for customers. On the other hand, analytical CRM addresses the analysis of customer data for a host of different purposes. It is utilized to design and perform targeted marketing campaigns that maximize marketing effectiveness. It takes into consideration product and service decision making, new product development and pricing.
E-commerce internet business model is a business model that allows carrying trade over the internet. There are various businesses that use this model in conducting trade. One of the models is B2B E-Commerce (Laudon and Traver, 2016). The business model provides goods as well as services to numerous businesses. The second business model is Business to Consumer E-commerce. It is the most common model that allows businesses to sell their products and services to final consumer. Finally, C2C E-commerce is a consumer website platform that allow them to sell their products to other consumers.
References
Laudon, K. C., & Traver, C. G. (2016). E-commerce: business, technology, society .
Melville, N., Kraemer, K., & Gurbaxani, V. (2014). Information technology and organizational performance: An integrative model of IT business value. MIS quarterly , 28 (2), 283-322.
