What is Virtual Marketplace

Historically, technology has been the prime catalyst of social, cultural, and economic development. Breakthrough technologies have been found responsible for major disruptive civilizational leaps in time, crafting and reshaping the way we view the world and its infinite boundaries, resolving our common problems and how we interact in pursuit of a communal and cooperative existence. Marketing has constantly reinvented itself in light of the environmental changes caused by these new technologies, and in doing so, has introduced new marketing paradigms and principles. Drawing on key findings from the literature, this chapter discusses the transformational effect of the digital age-related technologies, highlighting major trends and their impact from a marketing perspective. Implicit to these findings and the arguments that follow is the idea that understanding these technologies and how to harness them is of crucial importance.