Provide some examples of specialized markets or retail outlets. What makes the Web so conducive to specialization?
Specialized markets or retail outlets specialize on a particular individual product without deviating to other products (McEachern, 2012). The specialized markets may be dealing with clothes only or crops like wheat only. As a result, one who is venturing a specialized market will only find one product that is specific to that market. Specialized markets include those of the military where the trade of weapons is left solely to the government or other private bodies given mandated or authorized by the government. Besides, the stock exchange is another specialized market that deals with the trading of shares where brokers help shareholders to buy and sell shares (McEachern, 2009). Other specialized markets are those selling foreign currencies and government bonds. Examples of specialized retail outlets include cinemas that deal with films having the genre of art, language schools, milk shops, bookstores, stationery, and pharmacies.
The web comes in handy especially where it gives the specialized businesses a chance to advertise their products. The company can offer more information, and the customer can be able to go through many sites that can provide him the products he or she needs. The web therefore provides a platform that helps the business to advertise its specialized products and assist the people in the company to promote their business at a cheaper cost than if they used the traditional methods of promotion and advertisements. The web becomes an important part of a customer experience in looking for a product especially in using various searches to get the product than when he or she would try accessing the shop manually. The customer can compare from a range of stores and find out the best products he or she needs from the specialized outlets.
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