A company can gather such data from sales transactions, letters, e-mail, and companies that specialize in gathering such data. A responsive firm adapts to changing wants and needs quickly. Small firms tend to be better listeners and to be more responsive to changes in the market. Customers can access information any time they want. Electronic advertisements and catalogs do not have to be printed, stored, or shipped.
Small firms have an equal or better chance to reach customers as large firms.
Buyers and sellers can engage in a dialogue over time. The promotion of services is often harder because the product is intangible and customers can't visualize all the benefits. The text uses the example of Charles Schwab, a discount brokerage firm. Companies such as Schwab are changing the way organizations interact with customers. More people are choosing to do business over the Internet.