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Table of Contents

New Technology Development on Canadian Jewelry Industry – Part 8

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Chapter 4. Conclusion

Since the successful completion of this analysis, R&B now is working actively to develop the system according to its specification, especially “buy online” functionality of the web site, targeting geographic or socio-economic market segments that are otherwise underserved. The enhancements we made will increase sales while decreasing product returns from customers. Senior management believes that by the internet marketing sales over $100 million will be realized.

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Part of R&B’s value proposition is product selection and quality, customer service and support, price, brand recognition, reputation, reliability and trust, website features and functionality, convenience, and delivery performance. The company competes favorably in the market for diamonds and fine jewelry by focusing on these factors. Senior management at the company has identified a series of growth opportunities with the new internet technology system that will drive annual revenue growth. The capacity level of the new system allows R&B to continuously add new Customers and deliver them consistently and reliably without the need to anticipate spikes in traffic or implement costly infrastructure build-outs.

With the implementation of this solution, R&B has been able streamline costs. Financial performance and results of operations depend significantly on internet marketing and its impact on consumer spending. Now the company has an information technology system in place to in place to track, quote, trace, report, search, schedule orders.

In the context of globalization greatly increases the significance of the communicative functions of marketing, activates the exchange of information and knowledge between any (including far-distance partners) participants of the world economy. Unstable situation of the company’s environment sharply raises the question of the necessity of establishing a dynamic alignment between marketing strategy and the changing needs of the company’s target market.

Another important trend in the modern world is the global growth of competition; forcing companies increasingly use an individual approach to each client. Internet facilitates to solving these problems by the effective integration in a program of international marketing communications. It simplifies, make faster and cheaper communication between seller and buyer. Internet marketing is becoming a critical resource for increasing business competitiveness.

The author obtained scientific results in identifying economical and methodological basis of the Internet as a virtual marketing environment as well as characteristics of the Internet, which are inherent in micro-and macro-economic environments; as well as determined the role of information technology and the Internet in the process of economic globalization and disclosed the relationship between real and virtual environments and the role of Internet in this relationship as an accelerator of development and globalization marketing environment.

On the basis of comparative analysis of direct marketing channels the features and benefits of Internet marketing on a global scale were identified by author that allows him to consider Internet marketing as a progressive form of direct marketing. R & D Gem’ improved marketing strategy was formulated, which shows that without the use of the Internet the company's strategy will be economically inefficient.

The significance of this work is determined by the fact that its provisions, according to the author, can be used in the elaboration of programs of development of e-commerce jewelry companies in Canada.

Results of the study were used by the author in his professional activities in the company ice.com. Currently, the author uses findings received during writing of the dissertation in software development and architectural construction of B2B platforms.

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