Discuss About The Commerce Impacts Global Trend And Market?
This report outlines the e commerce business model for the Ballarat trade Fair Consultancy (BTFC). This model helps these companies to improve their efficiency as well as the revenue of the BTFC. The Australian companies and the BTFC communication can be improved with the help of using the internet in their business activities. The report covers the security and payment systems and the revenue model, if the company adopts the e commerce businesses. The report also carried out some of the issues related to the privacy, legal and the customer services to take the corrective measures. The e- marketing of the BTFC starts with the development of the websites and perform all the activities and sales through the online marketing or the digital marketing. The whole report highlights the benefits of using the internet and latest technologies in the business. BTFC can resolve the problem of the payments by adopting the online method of transactions which are user friendly and much more convenient.
E commerce business means to conduct the business with the help of the digital or electronic means that refers to doing of business through internet, intranet and extranet. The e commerce business is not only a process of buying and selling, it is more than that, because it involves the customer services aa well as the collaboration with the suppliers (Shahriari, Shahriari, & Gheiji, 2015). The Ballarat trade fair consultancy (BTFC) can make use of the e commerce business model to improve the efficiency and to gain maximum profits. As an internet and management consultant, my suggestion to the BTFC is to use the websites and online payment methods through the help of the websites. The e-commerce model is explained better with the help of the below diagram. With the help of the e commerce technologies, all the Australian companies will contact the BTFC through the online website and place a request to organize the space and other operations for the trade fairs exhibitions (Franco & Regi, 2016). Then BTFC can accept the request after the consent of the company with regard to the payments. The online payment method can be used by the BTFC. Australian companies can pay to the BTFC for the trade fair through internet banking, credit card, debit card, etc. This model suggested for the BTFC is almost similar to the online shopping portals where people place an order by making payments through online methods.
There are many sources of generating the revenue for BTFC as the main activities of this consultancy firm is to do the marketing activities. The revenue model of the e commerce business of the BTFC involves a lot of the activities such as direct payment from the exhibitors, commissions on the sale of the tickets and through the sale of the merchandise brand at the trade fairs (Gangeshwer, 2013). However, the revenue generated through the online business model is represented in the below image.
The revenue can be generated by receiving the commission on each online ticket booking for the trade fair exhibitions. Moreover, on page advertisement of these trade fair exhibitions also generates the revenue by attracting maximum customers. Lastly, there are many Australian companies which can take the monthly and yearly subscription to organize their trade fair exhibitions. The revenue model of the e commerce business of the BTFC shown the most rapid growth because of the adoption of the new technologies. It is analyzed that the organizations need to adopt the latest technologies for the survival in the market (Ontario, 2013).
These e-commerce business models can be used for various purposes. The first and most important benefit of using the e commerce technologies is to attract the maximum number of the clients through the Electronic advertisement marketing strategies. The application of the E commerce business also improves the efficiency of the BTFC. The scope and reach of the BTFC services become large by putting all the services provided by the BTFC on the web (Bhaskar, Sinha, & Mishra, 2012). Moving further the benefits for the BTFC by implementing these E commerce technologies will be:
There are three main systems of the business organizations where these e business technologies can be applied to improve the efficiency of the company and gain the profits. First application area of the E business is the internal business systems that include the customer service management, enterprise resource planning, human resource management and document management systems. Secondly, the applications of these e business are in the enterprise communication and collaboration that improves the communication between the Australian companies and the consultancy and the Merchandisers (Adenwala, 2014). The introduction of the voice mails, emails, electronic chats can improve the efficiency of the business of the BTFC. The third application of these e commerce technologies is in the e commerce that includes the online and offline marketing of the products and services offered by the company.
Moving further to the security of the e business, then the each online transactions on the internet needs the full security in the payment methods. For the safe and secure payments or transactions, the following things always keep in mind.
Encryption: This is the best method of securing the data or information on the internet by generating an encryption security code and this security code is used by the sender as well as the receiver. This is the effective way to protect the information being transmitted on the network.
Digital Signature: It is also used to protect the companies from the risks ad these are the electronic signature, which are checked through the encryption and the password. This measure prevents the company from the fraud (Sarkar, 2017).
Security Certificates: This is the id of the user or the website with the help of which identification of the individuals is easy for the security reasons.
There are many things required for the e marketing. For BTFC, first of all, the company needs to build the website and need to buy the domain name for the development of the websites. E- Marketing needs proper marketing content to promote the company products and services. The BTFC need to post all their relevant details on the website and the website should consists of the services offered by the BTFC and how it works for gaining the attention of the customers (Chanana & Goele, 2012).
Payment system in the e commerce technologies refers to the making payment for the transactions that ate paperless payments. All these online payments increase the efficiency and accuracy as well as also reduce the costs. These are the time saving transactions and user friendly in nature that provides the company an opportunity to expand their business. Same is the case with the BFTC that they can have the option of the expansion of the business. There are many different methods of making payment with the help of the internet. Some of the modes of the payments are given below:
Credit card: This is the common mode of the payment by making use of the credit cards. These cards are small plastic cards with number attached to the personal account and if a person chooses to make a payment through credit card, then payment will be deducted from an issuer bank and then issuer bank deducts that money from the person’s account with monthly payment cycle in instalments (CEIT, 2012).
Debit card: It is similar to the credit card in looks, but the difference between the debit and credit card is that the payment is directly deducted from the cardholder’s account in the case of debit card, whereas in the case of credit card, the amount deducted from an issuer bank.
Smart card- It is also like the debit and credit card, but this card is used to store the customer personal information and money. This money stored in the smart card gets reduced as per the usage. The Smart card consists of the chips embedded on it.
Electronic Fund Transfer- This method involves the transfer of money from one account to another account by using the IFSC codes of the Bank accounts and it can be also done from the ATM itself.
To understand the concept of the privacy and customer privacy issues, it is very important to observe the strategies and the privacy expectations of the consumers and the businesses. There are three major concerns with regard to the privacy concerns:
All these three domains need to be taken care by the BTFC before starting the E commerce business (Bhaskar, Sinha, & Mishra, 2012). The BTFC can also provide the Customer services in the efficient through the use of the e commerce technologies. Apart from it, the customer service issues arise because of the involvement of the bulk amount of customers. There is a possibility that it may become difficult to handle thousands clients at one time. The proper measures need to be taken to deal with these small issues.
E-contracts: The E-commerce business also involves the electronic contracts and all these contracts are governed by the Indian contract act. The contract is said to be valid if there is mutual consents of the both the parties. The consent of the BTFC and the Australian companies required to sign the E contracts before taking the services (Nasir, 2004).
Data Protection: Data protection is the serious issue and this is the reason that the data need to be protected by entering a password and the data that needs protection is related to bank details, personal information and the history and biometric information.
Service Management: The consumer protection act governs the relationship between the supply chain and service management. The BTFC need to keep all the things in mind and handle all the supply chain, delivery system and services management.
Advertising: This is the important factor and the advertisement must contain all the relevant information and the irrelevant information may cause legal actions against the company that may ruin the brand image of the company (MEDIVISION, 2013).
Competition: E-commerce has also generated a competition because of the increase in the number of the players. Increasing in the competition is the great challenge.
The report presented above analyzed that the adoption of the internet and the latest technologies in the trade fair business leads to improve the efficiency of the company as well as increase the sales revenue. E-commerce results in the reduction of the labor costs, marketing costs and the other costs. The internet is playing a very significant role as it saves the time as well as the efforts of the company and improves the efficiency because of the improvements in the supply chain value of the BTFC. It is also analyzed that the revenue generation methods will change as the company will get the revenue by on the on page advertisements, booking of the online tickets on the website and the monthly subscription of the trade management systems. There are many methods which can be used for the online transactions such as the credit card, debit card, smart card and the electronic funds transfer.
Conclusion
At the end, the report will end with the benefits of the implementation of the e commerce technologies and these are helpful in the Increase in the sales of online tickets for the exhibitions, Reduces the marketing cost by promoting the online advertisements, easily accessible by all the Australian companies as well as customers, improves the communication between the business organizations and the customers. The report also carried out some of the issues related to the privacy, legal and the customer services to take the corrective measures. The e- marketing of the BTFC starts with the development of the websites and perform all the activities and sales through the online marketing or the digital marketing. The Australian companies and the BTFC communication can be improved with the help of using the internet in their business activities.
References
Adenwala, M. (2014). Impact of e-commerce on business performance: a study with respect to travel industry.
Bhaskar, P., Sinha, N., & Mishra, S. (2012). E-Business and E-Commerce – Its Emerging Trends. Journal of Intelligence Systems, 2(1), 14-16.
CEIT. (2012). Current Electronic Commerce Research. Retrieved from https://ceit.aut.ac.ir/~sa_hashemi/My%20Research/0-Selected%20Papers/2-ECommerce%20Systems/0-Current_EC_Research.pdf
Chanana, N., & Goele, S. (2012). Future Of E-Commerce In India. International Journal of Computing & Business Research, 7, 1-8. Retrieved from https://www.researchmanuscripts.com/isociety2012/7.pdf
Franco, C., & Regi, B. (2016). Advantages and challenges of e-commerce customers and businesses: in indian perspective. International Journal of Research – Granthaalayah, 4(3), 7-13.
Gangeshwer, D. (2013). E-Commerce or Internet Marketing: A Business Review from Indian Context. International Journal of u- and e- Service, Science and Technology, 6(6), 187-194. Retrieved from https://www.sersc.org/journals/IJUNESST/vol6_no6/17.pdf
Grabowski, P. (2013, June). Customer service ecommerce- challenges and solutions. Retrieved from https://ecommerceinsiders.com/customer-service-ecommerce-challenges-solutions-988/
Ladda, S. (2015). eCommerce in India- Accelerating growth. PWC. Retrieved from https://www.pwc.in/assets/pdfs/publications/2015/ecommerce-in-india-accelerating-growth.pdf
MEDIVISION. (2013). Legal issues in eCommerce. Retrieved from https://www.focus-on-business.com/html/ecommerce.html
Nasir, M. (2004). Legal issues involved in E-commerce. Retrieved from https://ubiquity.acm.org/article.cfm?id=985607
Ontario, Q. P. (2013). E-Commerce: Purchasing and selling online. Retrieved from https://www.onebusiness.ca/sites/default/files/MEDI_Booklet_E-Commerce_accessible_E_final.pdf
Sarkar, S. (2017). Consumer Privacy in e-Commerce. Retrieved from https://cis-india.org/internet-governance/blog/privacy/consumer-privacy-e-commerce
Shahriari, S., Shahriari, M., & Gheiji, S. (2015). E-Commerce and its impacts pn global trend and market. International Journal of Research, 3(4), 49-55. Retrieved from https://granthaalayah.com/Articles/Vol3Iss4/03_IJRG15_A04_63.pdf
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