“You can have brilliant ideas, but if you cannot get them across, your ideas will not get you anywhere.”
It is a well known fact that businesses need marketing to survive. No matter how good is your product or
how excellent are your services or ideas, you need to reach out to masses in order to generate sales,
otherwise you will get to nowhere. The importance of marketing was also highlighted by the CEO of
Nike, Phil Night who once said that,
“The most important thing we do is market the product. We have come around to saying that Nike is a
marketing-oriented company, and the product is our most important marketing tool”.
-Phil Knight, CEO Nike
As we all know that, products and services changes with demand and so does the marketing techniques.
Previously print media, radio and television were considered to be the sources of marketing but now
with the advent of internet, online marketing is flourishing day by day and is becoming the fastest and
the inexpensive source of sharing information almost everywhere around the world. As internet is
evolving as a social web site with interactive communication, internet marketing has gained popularity.
Various statistics reveal that online advertising has grown to be worth tens of billions of dollars annually,
in just a few years. According to a report published by Price Water House Coopers (PWC), that in the
year 2006, 16.5 billion US dollars was expected to be spent on online marketing in the United States.
Also in UK, the Internet Advertising Bureau (IAB) reported that, internet marketing has flourished in
recent years becoming a multi-million pound industry.( Source: www.iabuk.net).According to a study by
the IAB and PricewaterhouseCoopers (PwC) , spending on online advertising in the UK might reach to 1
billion pounds for the first time, fuelled by increased use of broadband.
These figures advocate the growing importance of internet marketing as also reaffirmed by David
Silverman, Partner, Entertainment and Media Practice, PricewaterhouseCoopers, who said that: