Question:
Discuss About The Commerce Strategies Set By Organization?
Clicktowear.com is the website or the e-business which provides an all-around solution if any person wants to buy clothes and apparels. To make the company and run an e-business an entrepreneur needs to thoroughly know each and every aspect of the business. E-commerce or e-business is a tricky game in the field of business which can prove to be profitable or not run at all. An entrepreneur needs to focus on some points before planning to start such a business. Name of the website is a very important part for an e-commerce business to run and make profits (Awais and Samin 2012). It should be catchy and trendy and should even be relevant to the kind of business it denotes. Some of the business strategies which are to be implemented can be pricing strategy, advanced marketing strategy, brilliant customer service and support. The site needs to be online all the time and should not crash. Some of these features and business strategies are discussed in the following report for the apparel e-business site called Clicktowear.com. There is a wide range of apparel products available on the site which appeals to every age group and kind of people who shop online.Clicktowear.com aspires to become the leader in online apparel stores by being a part of the lifestyle of its customers. For this the company has to develop a state of the art business model.
To create a market and a customer base the company will give offers and gift vouchers to the customers who visit the site and purchase a product for the first time. This will enhance the shopping experience a great deal. Every business has some targets and goals which the company wants to achieve to continue their business and even expand their territory in one way or the other (Balaraman and Kosalram 2012). Some of the business goals which are to be achieved by Clicktowear.com are:
Provide best online shopping experience: Owners and management of Clicktowear.com are determined to provide a brilliant shopping experience to its customers. E-commerce business is all about the making available the products to the customers with much ease and satisfaction. To achieve this goal Clicktowear.com has to design its website in such a way that visitors tend to find out every detail of the product they are interested in. The showcase of the product should be descriptive and lucrative for the visitors to get an idea of the real product just by seeing its pictures (Gökmen 2012). Moreover, the website should be light weighted so that it can run on slow internet speed as well and should load each page quickly and without much delay. Customers should be awarded with loyalty points and other such perks so that they feel privileged by shopping on the website.
To reach a customer base of million people in a year: Every e-business is run by its customers who constantly visit the site and keep the traffic of the site high. It is due to those customers that the products of the site get popularity. Without a staunch customer base an e-commerce business like Clicktowear.com will not flourish (Laudon and Guercio Traver 2012). More the number of customers more will be the sale from Clicktowear.com which will generate more profits for the company. When this will happen the company will be motivated to expand its product range and bring in new trendy and fashionable products for its customers. To reach the first million number of sales and customer can take up to one year but is not an overambitious target.
Increase profits by 30% in 6 months: Profit is the consequence of sale and is the difference between the procurement and delivery (Laudon and Guercio Traver 2012). Products sold on Clicktowear.com should be procured from the sources which are much cheaper from the sale price which is displayed on the website. To achieve this type of rate difference the responsibility of product procurement should be in the hands on most experienced sales professionals who hold a tight grip on the apparel business. The difference in rate of procurement and sale will increase the profit margin of the Clicktowear.com. To make more profits in less time the company has to give offers and announce sale so that large number of products are sold within a short time span.
Business strategies are the most vital part of a business to run and flourish. The following are some of them.
Value propositions
Some of the value propositions for Clicktowear.com are:
Clicktowear.com has to follow an integrated revenue model in which there are number of aspects put together to generate revenue for the company other than the sale of the products (Moertini 2012). These factors are:
Clicktowear.com has to analyses and target different types of customers according to their choices of products and shopping potential. Business of apparel is an open one and everyone intends to but new and fashionable clothes (Gangeshwer 2013). The company has to find out the demographics of its customers such as number of males and females, age group of these people, kind of education they have got which says a lot about their choices, kind of employment which determines their purchasing capacity, total household income, their marital status, degree of internet access they have got and the time duration for which they are online (Niranjanamurthy, Kavyashree and Chahar 2013). All these characteristics help in defining the target market for Clicktowear.com.
The most common and relevant business model in the e-commerce business is the Business to Consumer model (Sobihah, Salleh and Amin 2013). It is justified that one entity of business is selling its products directly to the customers with no middleman or any entity in between. This model is followed by the e-commerce giants such as Amazon.com, Ebay.com, and Alibaba.com all located around the globe.
It is the most important entity of the business. As capital required for starting an e-commerce business is huge its realization becomes a tough task (Distante, Camelier-Carvajal and Rossi 2014). If the capital investment is not done in a proper way the business is not going to succeed and it will incur huge losses. There are some ways which can reduce this risk in capital realization such as:
Demographic and psychological factors are prevalent in the e-commerce business as customers follow the local trend of dressing which is determined by their mentality (Guo and Hu 2014). Tech-savvy and young people tend to shop more online than the older ones.
Analysis of the choices of customers is done by Clicktowear.com to know the type of products they want to purchase in the future. Profile contains gender, age, marital status, demography, income etc (Saini 2014).
In e-commerce trust is the foundation of business which is to be established from both ends (Sobihah, Salleh and Amin 2013). Customers should trust for the services, products, quality and delivery of the products and the company should trust on the loyalty of the customer to shop more and pay more.
They are the basic features of e-commerce. Every e-commerce company makes its own mobile app, sends emails to notify about the offers and advertises on social media through online marketing techniques (Sobihah, Salleh and Amin 2013). They also keep their transaction logs to calculate their sales and to provide as evidence at the time of audit.
Clicktowear.com needs to do CBA for it business keeping in mind the aspects such as cost of the project technology being used by the company, savings done in the operations cash flows in and out of the company (Sobihah, Salleh and Amin 2013). These are done on the model of CBA which includes:
Conclusion
It can be concluded that the business model of Clicktowear.com which is an e-commerce business has been done in the above report. All the business strategies covering fundamental features of a business to be established is discussed in details taking all the dimensions into consideration. Business models have been discussed which are apt for online apparel store with its implications and requirements. The products and services which are required for Clicktowear.com to flourish have been stated. Being an entrepreneur the business goals which the company needs to achieve have been written and explained in details with its prerequisites and consequences. All the facets of business plan such as value propositions target markets are mentioned with analysis on different business proposals. It can be concluded that e-commerce is the new dimension of business developing at a rapid pace all over the globe and can fetch huge profits if structured with precision.
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