HIGH PRESENCE AND HIGH TOUCH

Internet and multimedia are changing the rules of the economy and

redefining our businesses and our lives. It is destroying solutions such as

mass production, segmented pricing, and time and distance for big

businesses. A company can develop a web page and advertising campaign

and quickly compete in the world market. This has led to the flattening of the

economy, whereby established companies and individuals doing business on

their own can compete on an equal plane. The small companies that succeed

in challenging the large companies are the ones who can maintain a global

presence and yet make people feel that they are personal and easy to deal

with.

(1) Small companies can interact closely with their customers, so that the

customers feel that they are able to communicate to the small company what

they need, as opposed to the customers merely accepting the mass-produced

product that large companies will sell and not give much ground for

derivation from the product.

(2) Web changed from just a means of advertising, to a medium to

rapidly exchange ideas with potential customers. Since the small company

listens to what they say, it not only results in having a satisfied (and probably

a faithful) customer but increases sales significantly with time.

(3) The Internet's primary advantage in advertising is not so much in

attracting attention and conveying a brief message (the tasks assigned to

traditional advertising media), but lies instead in delivering in-depth, detailed

information. Its real power is the ability to provide almost infinite layers of

detail about a product or service, interactively, at the behest of the user.

However, small companies have to work smarter and respond more

quickly [Murr98]. They have to avoid mistakes and make the best of

possible use to everything. Corporations with big budgets can afford to lose

their investments, while a small company looks at web as survival, not as an

investment.

The small businesses also need to realize having a web site does not

automatically mean that the company will reach millions of potential

customers. It simply means that there is the potential to reach millions of

potential customers. Company has to promote the site through

advertisements, e-mail, links to other sites, and cutting edge multimedia

technology to attract lots of visitors. For a new start-up small company, a

brand new idea is always crucial. Second, multimedia technology should be

used to provide various kinds of services on the web site. Third, once the site

starts catching on and e-mails start rolling in, more and more person hours

should be put into keep up with it all.