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The potential impact of the internet on marketing is a common topic of discussion in marketing literature. However, there is still much debate on exactly what impact it will have on developing countries. To perceive this impact world‐wide, it is essential to spread some light to the less investigated parts of the globe as well. This study aims to reach a better conceptual model for the internet's impact on marketing in Iran, by examining Iranian marketing managers' perceptions of the internet's impact on their key marketing activities and comparing the results with other parts of the world.

The paper employs a cross‐sectional research design involving self‐administered delivery and collection surveys to Iranian marketing decision makers.

The findings suggest that the impact of these new media will be to cause firms to redefine markets, marketing activity and value creation, although these changes are not dramatic.

The findings reported here are snapshots in time. The internet's rapid evolution and growth demand that regular tracking with longitudinal designs be implemented.

Firms need to make changes in the marketing activities and market definitions and to try to reach the new ways that are created through the internet.

A modified model for the world wide web marketing that seems to be more realistic for developing countries is presented.