Advertisements as a tool for promotion of goods and services have been practiced from the earliest days. However modern form of advertisement started with the classified section in newspapers. Significant development in communication has tremendously changed its overall concept. Modern gadgets like radio, television facilitated faster and more reliable communication. Growth in industrial sector had also boosted the growth of market increasing a stiff competition among the service providers. Aggressive ad campaigns to woo the consumers became the phenomena of this growing competition. The service providers also began to look for new and innovative mediums to reach its consumers. Consumers now had the option to make the best bargain with an array of goods and services available at their disposal. However the printed version of printed classified ads suffered from its inherent flaws; it lacked space, was limited and moreover the price was a factor apart from catering to the needs of only a particular section.
The invention of the internet had overall changed the concept of communication. Internet not only ensured faster and reliable connectivity but also disseminated information to a larger audience. An incredible number of internet users growing globally. Further the introduction of pocket friendly smart phones (mobile technology) and other internet supporting gadgets. It has consolidated itself as a very powerful and democratic medium of mass media. It has chance the very way of doing business and the advertisement sector is not untouched with this epoch-making development. Business has now to a great extent e-business, where most of the businesses are done through the internet or online. Online classifieds ads have now to a great extend replaced the traditional form of advertisements much because of its global reach and greater communication. The online version provides both the buyer and seller with an array of options at their disposal. Classified website facilities buying and selling of goods, apart from swapping of goods .The classified ads on the online advertisements range almost everything a person wants; a boon in the form of virtual market. Unlike the printed form of classified ads form of classified advertisements it provides more navigation as most of the websites provides search options. One can make the best deal from his computer or smart phone sitting comfortably at home. For example a person wants a jobs in IT sector, instead of looking for jobs in the newspapers he would just type ‘jobs in IT in Mumbai’ in a search engine and a wide range of classifieds Mumbai would appear, displaying jobs in IT sector.
The advantages of classified ads in the online format has led to swift decline in the classified newspapers ads while the former is rapidly expanding and is estimated to worth billions and is growing according to recent market statistics. Another factor that has encouraged people to participate in its growth is its democratic nature and cost effectiveness, anyone can own a webpage in the internet and promote or advertise his product. This way, almost any economic enterprise can access a very large market directly and without spending much money. While the big companies were quick to explore this new avenue the internet had also a lot to offer for small enterprises.