Advantages of Online Market

Online market rules the roost today and is used to carry out various operations like global sourcing and multinational purchasing. All these activities related to multinational purchasing and global sourcing can be carried out comfortably using the concept of online market and used to run or promote business and commerce. In this article we will have a look at some of the advantages of online market practices and their use in promoting global sourcing and multinational purchasing activities.

As we know the first big advantage of using an online market place for carrying out business to commercial activities such as global sourcing or multinational purchasing is the reach which such an online market provides. This means that a person can have access to millions of potential customers via the cyber space which might give a big boost to the concerned enterprise in terms of global sourcing, multinational purchasing and the likes. However this approach of using online market tools might not be appropriate in all sorts of products and services which are offered to customers and certain things need personal contact but nevertheless the use of online market in global sourcing and multinational purchasing cannot be undermined.

Another advantage of using online market for business processes such as global sourcing, multinational purchasing and even more importantly advertising relates to the cost factor of such operations. Advertising is the life blood of any organization and helps to increase sales whether in the form of global sourcing, multinational purchasing etc but whatever the case online market depends heavily on lot of advertisement at economical rates. To take an example a small company or an individual proprietor may not have the willingness or funds to carry out full fledged advertising campaign to increase global sourcing and multinational purchasing, in the traditional manner which requires lot of investment but the same process can be carried out in the online market scenario using very less investment. There exist several methods of doing it such as pop up ads and banners or simple links to another website and some of these are less expensive than others so any person in the online market can choose whichever form of online advertisement which would give a boost to activities like global sourcing and multinational purchasing.

This does not mean to say that online market transactions have all the advantages and no drawbacks for there do exist many disadvantages as well which could hamper the process of global sourcing or multinational purchasing but these are to be discussed in more detail in a separate article dedicated to the topic.

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