E-commerce has transformed marketing in a huge way. Marketers have been provided with various ways to communicate with potential customers at lower costs than the traditional media. The internet has proven to find easier ways to reach people and advertise products. With all the subscriptions and information that is given by us as people, businesses use that information to figure our wants and desires. E-commerce has by far come a long way in the world thanks to us.
Social networking and the "wisdom of crowds" help companies improve simply by commenting on the product. Sources suggest that a large number of people can make better decisions about a wide range of topics than a smaller group could do. The wisdom of crowd concept also suggest that firms should consult with thousands of their customers as a way of establishing and to help them better understand the products. Firms can also use the wisdom of crowds in the form of predictioons markets.
Behavioral Targeting refers to tracking the click stream (history of clicking behavior) of individuals and their interest and intentions, and exposing their advertisments suited to their behavior. Two levels behavioral targeting takes place on is at websites and advertising networks. Thousands of users are tracked across thousands of websites and they are stored into a database. A particular page and a particular site is alos tracked along with whatever purchase you may have made. That alone shows how behavioral targeting works on individual websites and advertising networks. Everything you do online is visible and then is easily taken and used back on you. The more we show the easier behavioral targeting will be.
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