'Cheap' is losing its power as now 'free' is in. Global competition is so fierce and the labor-cost disparity is so wide that most bargain pricing is no longer effective, as there is always some other supplier to offer a product for far less -- or even for free.
Imagine: One morning you see roads and highways everywhere but you are totally unaware of the invention of a car. Holding just a wheel in your hand, you ponder some vague possibilities as to how the million miles of roads and highways might be used. That's exactly where we are today with respect to the information superhighway.
So far, there are flashy Web sites, and there are e-mail addresses. The situation is primitive. This is just like having a wheel in your hand and being totally oblivious to the finer workings of an automobile -- never mind a tractor, a forty-foot trailer or a bullet train.
Corporations are in need of quick and serious shock therapy to prod them out of the complacency of owning a few flashy Web sites. The exuberance that attended these early achievements fueled the false notion in many corporate boardrooms that their firms had become 'the master players of global e-commerce.'
Let's face it; most organizations were able to perpetrate this misconception because they had a few Web pages linking to the Net. That won't work anymore. E-commerce has become vast, and it demands a deeper understanding of how to capitalize on this freely available trillion-dollar public infrastructure.
It is time for a reality check.
Read more in E-Commerce Branding.
Looking for the latest in product and data science? Get our articles, webinars and podcasts.