LAHORE: Young entrepreneurs need to learn digital entrepreneurship which is contributing heavily to the economy of various countries.
Speakers said this at a seminar on "Digital Entrepreneurship" here at the Lahore Chamber of Commerce and Industry on Saturday.
They should use digitalization as a tool to create business opportunities, to disseminate information about their businesses and to find out new partners, they added.
The experts were of the view that digital marketing could play a major role to increase the businesses whether it was large or small therefore Pakistani entrepreneurs should make right moves to get desired results.
They said that young entrepreneurs should have innovative approach and right technology to succeed so that they could harness the power of digitalization.
The LCCI President Abdul Basit said that Information technology has transformed the way of doing business.
Manual business functions have been automated with the development of personal computers, business software and internet-based intranets.
While companies may develop internal business technology to increase the effectiveness of business functions, they may also use personal digital products to enhance operations. Developing different uses for information technology and various computer-related devices can help companies develop a competitive advantage.
Abdul Basit said that social media allows a business to promote and market its own brand with a large number of customers using social media as a primary source in their purchase decisions.
He said that social media was a major element in assisting consumers in their decision marking process while customers and entrepreneurs could also interact directly through this important segment of information technology.
The LCCI Senior Vice President Amjad Ali Jawa and Vice President Muhammad Nasir Hameed Khan said that digital marketing was the form of marketing that utilizes electronic devices such as personal computers, smart phones, cell phones, tablets and game consoles to engage with stakeholders.
They said that by using this significant tool, entrepreneurs could easily control their consumers and convince them to utilize their products.
They urged the research institutions and researchers to come forward to address the gaps in the current scenario by developing world-class technologies.
Awais Saeed Piracha and Hassan Amjad urged the government to utilize maximum resources for the promotion of information technology in the country enabling it to join the club of technologically advanced nations.
They said that Information technology allows companies to reach a larger group of consumers in the economic marketplace.
Resources such social media networks, e-mail marketing, pop-up banner ads on Internet websites and other technology-based items can help companies saturate the economic marketplace. (APP)