A New Paradigm for Marketing Online
Washington University Working Paper No. OLIN-98-09
Posted: 9 Jul 1999
Date Written: March 1999
Abstract
New technologies require new paradigms and a fresh perspective in analyzing and comprehending their implications. Computer networks, with the Internet and the World Wide Web (WWW) in particular, have already revolutionized many business practices. The satisfactory application of traditional marketing models to the analysis of marketing practices on-line is difficult at best. Thus, this paper offers a new and intuitive conceptual framework for analyzing, interpreting and managing the marketing process in a connected world. Specifically, we propose a model consisting of four crucial aspects: Aggregation, Interaction, Identification, and Intensity (AI3). Each one of these four aspects should be carefully analyzed according to pre-specified guidelines to ensure the success of any on-line business. The paper describes characteristics that will be intrinsic to marketing in the future connected world. We investigate the reasons underlying these characteristics. We suggest a detailed procedure for managing these future attributes using the AI3 model. In the process of doing so, we compare and contrast our model to traditional marketing models and show it's superiority.
JEL Classification: L86
Suggested Citation: Suggested Citation