Word: marketeers
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Dates: during 1990-1999
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...expand the operations of the Portland, Maine, seafood store that had been in his family for three generations. Space wasn't exactly the problem; he and one of his partners, Walter Compare Jr., had just moved Hanson Bros. Fresh Seafood to larger quarters in the newly built Portland Public Market. But there were rumors floating around town of a new digital form of competition. "One guy sold $1 million worth of live Maine lobsters online around Christmas," says Hanson. "That's when we do most of our business...
...That's a pittance compared with the riches to be potentially made in cyberspace. Last year nearly 9 million U.S. households shopped online, generating $7.8 billion in revenues, a number that is expected to grow to $108 billion by 2003, according to Forrester Research, a technology market research firm, based in Cambridge, Mass. Whether you're looking to set up e-mail relationships with your customers, build a small brochure site to advertise your wares, or construct a full-fledged e-commerce site to sell a wide range of products, there are plenty of providers who will help from start...
...Internet, don't worry; there's still time. While 85% of the more than 7 million small businesses in the U.S. have PCs and two-thirds of those have access to the Internet, only about 1 million businesses have their own websites, according to International Data Corp., a technology market-research firm based in Framingham, Mass. That's up from 200,000 businesses in 1996. So here's how to get started...
...make sure you have the necessary resources to handle Internet commerce. A fully functioning website costs on average $1,000 to start and an additional $30 a month to run. How much do you want to sell? E-commerce providers typically charge according to how many products you market. Offer five, and it can cost $40 a month to maintain the website; offer more than 100, and it can cost $150 a month. It's best to start small to get your bearings; you can always add on later...
...South Korean President Kim Dae Jung, the crisis has also created an opportunity. Since taking office a year ago, Kim has launched one of the most ambitious economic makeovers any country has ever attempted. His aim is to transform a system built on debt, endless expansion and limitless export markets for industrial goods and consumer durables into a globally competitive economy that is as nimble as the rapidly changing marketplace demands. To make it work, he has placed his bets on creating a flexible, U.S.-style labor market in which companies are free to hire and fire as they please...