Benefits Of Using New Virtual Technologies

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Today’s economy has become a global one due to the use of the internet. Traditional companies are accepting the mission of using new virtual technologies in their business since the use of the internet has opened larger and advantageous international markets. Proud of the costly infrastructure, traditional companies are finding themselves being eclipsed by smaller companies that have used the internet to attract new customers. In order to achieve great results, companies in today’s economy are obligated to embrace the use of the internet (Markus, T. 2008).
In recent years, larger companies have included more and more online processes because customers are becoming more engaged with the internet, wanting to do everything by themselves. By cutting much of the traditional companies expenses through the use of eCommerce, virtual companies are stealing established companies market by offering better prices in the online market. According to Markus, T. (2008), e-commerce is an electronic market in which electronic sellers and buyers gather in order to negotiate for products and services. E-commerce gives the consumer multiple options since the Internet contains endless number of products and services (Markus, T. 2008). Netflix is a good example of an e-commerce industry. Founded in 1997 by Marc Randolph and Reed Hastings in Scotts Valley, California, Netflix Inc. was a movie-rental business by mail as many other offline video providers. In 1999, since the company was not

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