Latest Trends in the Industry Part -1

Like any other industry, the business world has seen many different ways of working over time. These changes are called economic trends. Let's take a closer look at the latest business trends and their implications. 

Network Marketing

Network marketing is basically a marketing medium used by manufacturers to increase sales. Manufacturers use them when dealing with multiple retailers to release their products. These distributors may have sub-distributors. The result is a “network” of dealers operating at different levels of the distribution chain. Manufacturers use this vast dealer network to market their products to different levels of customers. This allows you to indirectly reach more customers.

These distributors and dealers therefore act as independent representatives of the company. This allows the company to sell its products widely without spending more money on traditional marketing techniques such as advertising.

Franchising

A franchise is an agreement under which a franchisor (one party) grants or licenses certain rights and powers to a franchisee (another party). Franchising is a well-known marketing strategy for expanding your business.

A contract is entered into between the franchisor and the franchisee. The franchisor authorizes the franchisee to sell its products, goods and services and grants the right to use its trademark and brand name. This franchisee then acts like a dealer.

In return, the franchisee will pay the franchisor a one-time fee or commission and a portion of the proceeds. The advantage for franchisees is that they can learn business techniques instead of spending money on employee training.

Digital Economy

The digital economy is a general term for all economic transactions that take place on the Internet. Also known as the web economy or internet economy. With the advent of technology and the process of globalization, the digital economy and the traditional economy are merging into one for him. A digital economy is defined as an economy focused on digital technologies. H. It is based on digital and computer technology. Essentially, it includes all business, economic, social, cultural and other activities supported by the Internet and other digital communication technologies.

The term was first coined in 1995 by Don Tapscott in his book The Digital Economy: Promise and Peril in the Age of Networked Intelligence.

He has three main components to this economy.

• e-business
• e-business infrastructure
• e-commerce

Over the past 15 years, we have witnessed the tremendous growth of digital platforms and their impact on our lives. Today, consumers are influenced by what they see on social media (Facebook, Twitter, Instagram) and other popular websites (like Youtube).

So this economy is a way to take advantage of this opportunity. It is now integrated into all aspects of users' lives, including healthcare, education, banking, and entertainment.

Aggregator

In this digital age, there are millions of websites and a never-ending stream of information on the Internet. Aggregators therefore provide services that collect and compile similar and related information on websites. Therefore, there are different types of aggregators, such as news aggregators, service aggregators, video aggregators. The term is derived from the word "aggregate" which means to combine, fuse, or bundle together. An aggregator is therefore a website or application that aggregates homogeneous information or content from the Internet. This allows end-her users to easily navigate and find the information they need on the web.

There's a big boom in the world of digital marketing right now. All the big companies and brands in the world have their own website. We also use social media (Twitter, Instagram, etc.) for advertising and promotion. We have an online brochure and contact form. As a result, potential customers and Internet users have to visit many pages and information to accomplish their goals. That's where aggregators come in.