Kim and Peterson (2017) mentioned that building of e-commerce presence has been occurring slowly with time. However, most of the small to medium business have understood that, to grow, they must shift a vital part of their budgets and attention to e-commerce. Here, with the rise in numbers of consumers buying products from the comfort of their own homes, the organizations have been adapting change in retail landscape falling by their wayside.
It can be compared with past situations according to Lu, Fan and Zhou (2016). At past, the online shopping has been missing out regarding massive part of their consumer population. To correct this, various businesses has been looking for effective and creative methods to improve their presence in e-commerce. One can crave growth. However, it has seemed that multiple customers have been more comfortable to purchase at online.
The overall impact is analyzed by Wang, Wang and Liu (2016), who stated that many businesses still have concerns regarding the entire business aspect. Hence to keep reading to learn more, it is a huge advantage to pairing online stores. Various strategies are outlined below to launch online stores successfully integrating perfectly with the current physical business.
One should promise to utilize some of the delivery service hours. Then they must provide a “pick up in store” service. Localized ads must be sent to focus on people in that area, extending marketing efforts of various online companies catering the broader market. Further, business has the chances to cross-promotion of online and physical stores. People must be asked to come to the store for promotion on websites and ask people to go to store regarding advertising on their website. Further, they must tell people in-store that they can get a coupon as they shop online them.
The various strategies included in creating e-commerce presence are demonstrated hereafter. First of all, the business must sign-up for ecommerce platform. Then they must sign-up with a merchant account for collecting online payments. They must set-up online marketing strategy. Then they must move with “web-based point” of the sales-system. Then they must try to get a solution for integrated bookkeeping.
Mackey, Miner and Cuomo (2015) stated that there are various issues as convenience has been vital for consumers. However, this has never been sufficient to retain them indefinitely. Apart from this, one must design the online shopping experience to be pleasing in many possible ways. This includes a supply of extensive inventory, excellent customer services and low prices. Through developing every aspect of e-commerce offerings, one acquires better chances to convince people to become committed to online shoppers.
Here, no business has been too small to cope up with competition efficiently over the Internet. Though one has the small home-based business, through offering shoppers an easy-to-use and secure websites helps in competing with different mega-brands. However, it is found that whenever customer information gets hacked, they steer away from different online sales.
References
Kim, Y., & Peterson, R. A. (2017). A Meta-analysis of Online Trust Relationships in E-commerce. Journal of Interactive Marketing, 38, 44-54.
Lu, B., Fan, W., & Zhou, M. (2016). Social presence, trust, and social commerce purchase intention: An empirical research. Computers in Human Behavior, 56, 225-237.
Mackey, T. K., Miner, A., & Cuomo, R. E. (2015). Exploring the e-cigarette e-commerce marketplace: identifying Internet e-cigarette marketing characteristics and regulatory gaps. Drug & Alcohol Dependence, 156, 97-103.
Wang, W. T., Wang, Y. S., & Liu, E. R. (2016). The stickiness intention of group-buying websites: The integration of the commitment–trust theory and e-commerce success model. Information & Management, 53(5), 625-642.
Week 4: E-commerce Security and Payment Systems
Online shopping has turned into a popular what making up to 10% of the sales in any nation. Ecommerce has turned out to be very popular every year. Here, small businesses have been unable to afford to miss the scope to capture the sales and customers that are available to run any online store.
There have been various e-business strategies as analyzed by Turban et al. (2015). First of all the stores are open all the day for business. There is no limit to open hours and consumers around the world can access websites at their convenience. Further, they can purchase with the help of payment systems and eCommerce without any assistance. Next, there is a reduction in overhead costs. The launch of websites needs a huge amount of initial investments over time. Business owners need to recoup with those investments. This is because they never need to pay for rent, staffs and utilities.
There has been a huge customer base. Here transportation issues, conveniences and store locations are the barriers plaguing to online physical stores. Without the presence of those nuisances, the business owners can reach audiences across the world. Moreover, there are expanded reach for national to international audiences. Various online services have never experienced the normal restrictions such that they can move towards audiences.
Further, there are better marketing scopes that are identifies in the impact analysis of Turban et al. (2015). Apart from placing advertisings in various newspapers and magazines, the websites are indexed automatically and then ranked by different search engines. As the navigation, content and quality of sites are active, the search engines reveal that this business result in pages. Apart from investing energy and time for excellent services, the service gets performed automatically without any cost to business owners. Further, it needs more intuition as it comes to needs and habits of customers.
Doing tasks online has helped business in profiling consumer based on various keywords, region and patterns and so on. The targeted specific groups get interested in the services. Then it provides simple, secure checkout experience with the payment systems and eCommerce security.
However, online payment systems have been coming with various issues like mentioned by Trappey, Trappey and Hsu (2016). It is a fact that shopping over Internet has turned out to be popular because of its affordability and ease. However, this never indicated that eCommerce has come out without any flaws or shortcomings. Further, Trautman (2015) explains that there are different challenges that are faced by smaller companies while business is done online. As eCommerce payment and security protect against security threats and frauds, there are various security breaches present.
Further, there are different online payment challenges that are related to shopping over the Internet. These are credit card frauds, charge backs and becoming open to business. Here, opening an online store is very much necessary nowadays. Customers of today have expected to shop from their computers and phones at any time of the day. Further, they also hope to be able to use the payment cards in easy and safely to use a process of checkouts. The eCommerce payment and security systems have been working seamlessly with the needs to provide customers with a satisfying experience for shopping.
References
Trappey, A. J., Trappey, C. V., & Hsu, A. (2016). Modeling Technology Roadmaps Of E-Commerce Payment Systems Based On Patent Informatics. International Journal of Electronic Business Management, 14.
Trautman, L. J. (2015). E-Commerce, Cyber, and Electronic Payment System Risks: Lessons from PayPal. UC Davis Bus. LJ, 16, 261.
Turban, E., King, D., Lee, J. K., Liang, T. P., & Turban, D. C. (2015). E-Commerce Security and Fraud Issues and Protections. In Electronic Commerce (pp. 457-518). Springer, Cham.
Turban, E., Outland, J., King, D., Lee, J. K., Liang, T. P., & Turban, D. C. (2017). Electronic Commerce 2018: A Managerial and Social Networks Perspective. Springer.
Week 5: E-commerce Business Strategies
There have been different e-commerce strategies of the business as stated by Cavusgil et al. (2014). The e-commerce has been to establish a sector that designs and defines a site for reaching audiences with common characteristics or interest. Irrespective of the service or product, the company’s niche markets must be defined that can penetrate online along with special offerings. Further, as per as personalizing is concerned, site visitors demands experiences catering interests and needs.
The technology is available even to small payers for capturing interests of shoppers and preferences for generating product selection and experience of shopping. This is lead by individual promotions that is tailored to them. According to Galliers and Leidner (2014) there is creation of content to create stickiness. Gaining e-commerce has deployed contents of crowd-source to make the sites user-friendly. For example, Sila (2015) states that millions are consumers are attracted by Amazon through encouraging them to share opinions like CDs and books. Meta tags and keywords are used to rise ranking the search results.
Tailoring business experience for targeted segment is another strategy for e-commerce business. Well structured and brand-appropriate site design has been remaining as the primary ingredient to attract audiences and gets them to return back. An enticing browsing experience must be provided around online platforms. The next strategy is to integrate around channels. Multiple offerings are to be created that enables consumers to gain expertise about consistent brands irrespective the methods of choice.
However, businesses must ensure that products sold by them through various channels have been differentiated sufficiently for accounting for the difference in price. Then there must be invested in the mobile sector. The commerce of mobile has been growing at the rate of 130% per year. As the agencies lack robust mobile commerce platform, one must see a drastic drop in revenue for the upcoming years.
They must accommodate growth needed to tap capabilities of 3PLs or third-party logistics for managing a huge volume of complicated orders. Here, the reverse logistics can handle various exchanges and returns economically and quickly. This has turned out to be primary differentiator. Here innovative fulfillment networks and same-day delivery can bring competitive advantages. Next, the e-businesses must consider subscription commerce. It has been taking different forms. Within a replenishment models, commodity items are sent to customers per month.
Further, Gregory, Ngo and Karavdic (2017) mentioned that the discovery model has been more promising. This has offered subscriptions, new and customized items to the doorsteps of the customers, periodically. Lastly, the organizations must keep in mind that Internet has been helping small organizations to reach various customers very fast. It is also found that small brands have been more likely introducing new products to the market. This is because there have been less constrained by shelf space limitations and complicated supply chains.
Reference
Cavusgil, S. T., Knight, G., Riesenberger, J. R., Rammal, H. G., & Rose, E. L. (2014). International business. Pearson Australia.
Galliers, R. D., & Leidner, D. E. (Eds.). (2014). Strategic information management: challenges and strategies in managing information systems. Routledge.
Gregory, G. D., Ngo, L. V., & Karavdic, M. (2017). Developing e-commerce marketing capabilities and efficiencies for enhanced performance in business-to-business export ventures. Industrial Marketing Management.
Sila, I. (2015). The state of empirical research on the adoption and diffusion of business-to-business e-commerce. International Journal of Electronic Business, 12(3), 258-301.
Week 6: E-commerce Marketing and Advertising
E-commerce marketing has been a practice of guiding online shoppers to e-commerce websites and persuading them to buy service or products online. It has including methods that include optimization of search engine for helping websites to rank higher within organic listings of search engines. Further, it provides affiliation with various known sites with the referral marketing or advertising of banners. This also provides retention to present customers with the help of e-mail marketing.
As there are various similarities between marketing e-commerce, the marketing has involved distinct opportunities and challenges as compared by Strauss and Frost (2016). Further, online customers have never felt invested in shopping online. Shopping online has been faster, private and easier that has been very much appealing to various tech-savvy customers. Performing shopping has been more comfortable, private and quicker that has been appealing to different tech-savvy consumers. Here, with the help of tools that have involved customer engagement and easy-to-use websites has made shoppers to complete their online transactions. It has been beneficial financially since e-commerce has needed much lesser overhead for running projects successfully.
However, there have many e-commerce marketing companies that have lacked investments in online shopping according to Mackey, Miner and Cuomo (2015). This is to justify a rise in traffic to websites or high spending. However, marketing firms have put thoughts into their e-commerce marketing strategy. It has been including high expenditure that has not been necessary.
As the business is under a direct consumable category, one can explore various active platforms for advertising and feature business products. Here, one can learn about proper hashtags, proper filters and posts of products. This helps in creating a proper audience that follows the product. Here, prospective customers fetch that the products are purchased regularly, customers have liked them and feel more comfortable to do anything that others have not done. Thus it has been essential to keep developing followers in social media and engage more with customers. Further, Gregory, Ngo and Karavdic (2017) stated that the advertising of e-commerce has tended general direction where industry moves into.
These trends have been varying from short to medium and long terms and so on. Some of the present e-commerce adverting patterns that are inevitable to change in which users have been interacting with advertisements are identified hereafter. This includes present e-commerce trends of advertising that is needed to adopt, programmatic advertising, particular media advertising, VR advertising and so on.
Lastly, it must be reminded that every different ecommerce advertisements have not been abundant. There are various options for those programs. Here, the variables have been necessitating constant evaluation and documentation. As it has been vital to research the competition, what worked best is to work for business. For example, DeFranco, Morosan and Hua (2017) mentioned that various advertising source has tracking features helping business to ad outlets and find out that is most beneficial to multiple business. The business must stay active and committed towards advertising campaigns and enlist the help of other people to analyze the data.
It is seen that digital advertising has evolved at high speed. As anyone owns e-commerce website or plans to start an online business, they must try out various kinds of trends in advertising that are discussed above.
Reference
DeFranco, A. L., Morosan, C., & Hua, N. (2017). Moderating the impact of e-commerce expenses on financial performance in US upper upscale hotels: The role of property size. Tourism Economics, 23(2), 429-447.
Gregory, G. D., Ngo, L. V., & Karavdic, M. (2017). Developing e-commerce marketing capabilities and efficiencies for enhanced performance in business-to-business export ventures. Industrial Marketing Management.
Mackey, T. K., Miner, A., & Cuomo, R. E. (2015). Exploring the e-cigarette e-commerce marketplace: identifying Internet e-cigarette marketing characteristics and regulatory gaps. Drug & Alcohol Dependence, 156, 97-103.
Strauss, J., & Frost, R. D. (2016). E-marketing: Instructor’s Review Copy. Routledge.
Week 7: Social, Mobile, and Local Marketing:
Social media marketing needs time. For effectively using social media marketing, one must create a smart fan base and trust level with fans and followers. This has only after those things that are established that one start thing regarding using promotions. As one reaches this stage, one should achieve goals for evaluating social media programs like creating brand awareness and driving sales. Further, one must create efficient ways in measuring those goals. For example, Tuten and Solomon (2017) highlighted that Facebook has comprised of about 550 million users. Also, there have been 140 million tweets that are posted over Twitter in one day.
Further, there are countless stories of success regarding how social media has been helping business grow exponentially to gain success and profits. Here the best part lays in the fact the Twitter and Facebook accounts are free in opening. As one possess the needed knowledge to provide to different potential customers, one can use the knowledge to drive interest to business through various informational Facebook and Twitter comments.
Mobile marketing has growing exponentially as shown by Lamberton and Stephen (2016). This has raised the question how one can reach all those consumers. As the term “mobile marketing” has referred to market targeted at tablets, smartphones and cell phones there have been various kinds of mobile mediums through which one can reach customers. Various primary avenues used in marketing with mobile include many elements that are highlighted hereafter. The first one is SMS and MMS managing. To make contacts with customers through text messaging is a smart way of promoting business and raise brand awareness. The next one is implementation. This includes software of text messaging.
Then there is marketing applications and mobile searches. To pay for advertising is been shown on mobile applications apart from searching results regarding searches that are conducted mobile phones. Then there is creation of mobile website. As per recent statistics, tablet and smart phones raises mobile web traffic. Further, mobile is found to be broader than Internet within 5 years as indicated by Moreno-Munoz et al. (2016).
Then there is implementation that indicates that creating mobile websites has not been easy. However, there have been various kinds of approaches that one includes for hiring web developer and use web hosting tool. As the local customer base of the huge contributor of business, this is been listed locally online that has been incredibly vital. Statistics analyzed by Rowles (2017) has shown that most of the tasks done online are the way or another related to various local contents.
This indicates that as the businesses never gets listed on various directions such as Google Places and the business is missing out about 70% of users from Internet. Moreover, local marketing has been closely tied with various mobile marketing. This is because various people have been often searching for local business on mobile devices. For example, Google has been experimenting with mobile offers advertisements used for during foot traffic for offline business around different coupons and discounts.
Reference
Lamberton, C., & Stephen, A. T. (2016). A thematic exploration of digital, social media, and mobile marketing: Research evolution from 2000 to 2015 and an agenda for future inquiry. Journal of Marketing, 80(6), 146-172.
Moreno-Munoz, A., Bellido-Outeirino, F. J., Siano, P., & Gomez-Nieto, M. A. (2016). Mobile social media for smart grids customer engagement: Emerging trends and challenges. Renewable and Sustainable Energy Reviews, 53, 1611-1616.
Rowles, D. (2017). Mobile marketing: how mobile technology is revolutionizing marketing, communications and advertising. Kogan Page Publishers
Tuten, T. L., & Solomon, M. R. (2017). Social media marketing. Sage.
Week 8: E-commerce Retailing and Services
Customer services have been presenting similar challenges in retail. This has been irrespective of whether the business has been online, in-store or both. This is to deliver a seamless experience at all the touch points. It maximizes sales around all the devices and channels and living up to the promises about product delivery and availability. Chiu et al. (2014) states that for creating a strong retail brand that the consumers have been returning must change shopping to reality. With the help of omnichannel approach towards sales and service, there are various tools like WebHelp has been powering ability of retailers to win hearts, revenue shares and minds. This has been helpful to maximize the margins.
E-commerce has been the boom for the retail industry that has gone mainstream since last ten years. The emergence of new generation platform, a growth of retail arbitrage, private label brands has demonstrated the rise in ecommerce adoption in the retail industry. The ecommerce of retail has turned out to be complicated for many years. However, it has been hard to understand the available solutions of retail Ecommerce in a simple way.
Further, according to Fang et al. (2014) mentions that the best customer experiences are always built with e-commerce services in retail. Form analytics and phone support to social media and various internal operations, various platform tools have offered all the things that customers have ever needed. It has been flexible and fast such that can innovate to ease and scale while business needs to grow. There have been customer supports whether they can reach with questions and seek answers on their own.
The future retail and e-commerce has been lying in an increase in sales and retained customers. It has increased conversion rates. One can use advanced data modelling for predicting customer intent and propensity for buying and proactively engaging the proper customer at a proper time. Then, it must reduce shopping cart abandonment. The customers are to be identified that have most likely abandoned purchases.
Here the agents are engaged in checkout dynamic and rich content such as media files and product information for helping them to complete those purchases. Further, the customer loyalty must get improved. Furthermore, Morganti et al. (2014) discusses that e-commerce must enable self-service in retail regarding quicker account management, shipping assistance resolutions and order return. Some of the trends in retail ecommerce solutions are discussed hereafter from the idea presented by Kim, Kim and Lennon (2016).
Firstly, the consumers have been demanding more options for payment that provides better security. Here, mobile has been playing a massive role regarding payment and purchase collection. Further, retailers have been unifying their offline and online data regarding decision-making and better intelligence. Also, the ease of experience of consumer shopping has been taking precedence. The merchants have adopted various in-store mobile devices. Further, the retailers have been opting for cloud-based and single-view solutions. Here, Social, Mobile, Analytics and Cloud or SMAC must continue to fetch the rise in adoption. Further, more retailers have been looking for IOT for enhancing the shopping experience.
Reference
Chiu, C. M., Wang, E. T., Fang, Y. H., & Huang, H. Y. (2014). Understanding customers’ repeat purchase intentions in B2C e?commerce: the roles of utilitarian value, hedonic value and perceived risk. Information Systems Journal, 24(1), 85-114.
Fang, Y., Qureshi, I., Sun, H., McCole, P., Ramsey, E., & Lim, K. H. (2014). Trust, Satisfaction, and Online Repurchase Intention: The Moderating Role of Perceived Effectiveness of E-Commerce Institutional Mechanisms. Mis Quarterly, 38(2).
Kim, J. H., Kim, M., & Lennon, S. J. (2016). A Longitudinal Analysis of E-Service Attributes Available on Apparel E-Retailing Sites.
Morganti, E., Seidel, S., Blanquart, C., Dablanc, L., & Lenz, B. (2014). The impact of e-commerce on final deliveries: alternative parcel delivery services in France and Germany. Transportation Research Procedia, 4, 178-190.
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