Abstract
This research aims to assess the impact of using the internet as an alternative medium for
marketing of goods and services. The study was motivated by the necessity to establish the
extent to which the internet has pervaded the consciousness of the consumer and marketer
in Nigeria and the economic benefits it offers. The internet, it was shown has it origin and a
considerable impact on developed economies. Given the background of the problem, the
study sought to discover the opportunities the internet has created, for a new business
model that redefine how companies interact with their customers. Moreover, to ascertain
that through this medium, customers and other stakeholders can truly respond to a
company’s media communication in real time, using the same channels for feedback that
the company used for promotion.
Furthermore, among the objectives and significance of the
study, is to help the reader of this work learn about the internet, its nature, components,
impact, prospect, strategies, implication in Nigeria and global market place, and to find
possible solutions to the problem identified. This research was accomplished with the use of
questionnaire, review of previous literature by different authors, and the use of top man’s
formula to determine the sample size (211), consumers’ 73 questionnaires and banks staff
138 questionnaires and the findings analyzed with the use of chi-square (X2) and z test
statistical tools. At the end of the research, it was discovered that the use of the internet in
banks gives customers satisfaction. In other words, customers are no more restricted to
their branches alone in transacting business with their banks. The marketing of goods and
services on the internet significantly impact a firm’s profit, likewise the internet
advertising has a significant impact on the gap or short coming existing in television and
radio advertising. However, the internet is the only medium in which the customers and
other stakeholders can truly respond to a company’s media communication in real time
using the same channel for feedback that the companies used for promotion. Based on the
findings, it is, recommended that government, and corporate organizations need to focus on
the provision of the internet infrastructure, encourage computer education, and
consistently create the awareness of the benefits involved in the use of the internet facilities.
This will help in the proliferation of the internet in local communities.
