Cyberspace, or to give it its less clichéd name, the Internet (the net ), is a new medium based on broadcasting and publishing. However, unlike traditional broadcast media, it facilitates two-way communication between actors; unlike most personal selling (telemarketing being the obvious exception), it is not physically face to face, but neither is it time-bound. The medium possesses interactivity--it has the facility for individuals and organizations to communicate directly with one another regardless of distance or time. The Web has introduced a much broader audience to the net. Furthermore, it allows anyone (organization or individual) to have a 24-hour-a-day presence on the Internet.
The Web is not a transient phenomenon. It warrants serious attention by business practitioners. Statistics support this, although one astute observer recommends strongly that all estimates be made in pencil only, as the growth is so rapid. No communication medium or electronic technology, not even fax or personal computers, has ever grown as quickly.
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