Discuss about the Electronic Commerce for e-Business Model.
The idea of creating the current business plan is to create an e-business technology that could be adopted to improve on the efficiency and the operations of the company. The company current offers the visitor ticket and the exhibitor floor space sales, and the branded merchandise available for the sale in the exhibition (Amoroso, Roman & Morco, 2016). The selection of the strategy will be done according to the business subjects that are offered by the company. The project will be formulated within the budget from the profits gotten by the business and it should not exceed more than half of the profits.
The e-commerce business model are the business model, which will enable BTFC Company to conduct the business over an online platform through electronic network typically the internet. The electronic commerce will operate through three segments the business-to-business (B2B), business to the consumer (B2C), consumer to business (C2B). This company has figured on the need to integrate electronic commerce into the existing strategy (Andam, 2014). The reason for this was due to the loss in the revenues, poor communication channels between the business and the suppliers and the need to improve those collaborations between the business to fair trade managers, customers and suppliers (Mohapatra, 2013).
The company should employ on the business-to-business model in order to transact easily on the goods and the services between the companies. The company does a lot of business with Australian companies that are overseas in regards to trade fair on booking ticket, arranging hospitality and organization on the marketing materials during fairs (Mohapatra, 2013). This can be made easier especially when BTFC receive cash from those companies as deposit for the exhibition. Moreover, this could be adopted in the payment of the suppliers of the products especially those merchandise that need design and printing (Mavlanova, Benbunan-Fich & Lang, 2016). The company can establish a relationship with the consumer through the business to consumer model. This is important especially in the retail section of the merchandise they sell at the trade fair. It will ease the burden of the consumer purchasing on the products in the exhibitions. Another model to adopt is the consumer to the business. The consumers can show case their products to the company and the company may make the purchase if they are interested on the product.
In the generation of the revenue for the business there is need to adopt the revenue models. A revenue model will describe on how the business is able to generate on the stream of the revenue from the product and the services (Huang & Benyoucef, 2013). The revenue model is one of the key components of the business models. The company can adopt of the model of advertising. The model will help the business a platform where the contents can be provided to the customers as an advertising space. The customers can easily get the merchandise information from the platform they intend to establish. Another revenue model to use is the commission model. This type of the model is similar to the markup model as the business charges a fee to every transaction that will be mediated between two companies or the parties. In the case of BTFC Company, the company act as the mediator between the Fair trade managers and the exhibiting companies (Mohapatra, 2013). They could employ on this model and charge a small commission for the transaction they make or for the ticket, they sell for the Australian based visitors on behalf of other companies.
The infrastructure of the e-commerce identifies on the functionality of the hardware and the software components, the levels of the requirements, management and the operation of the whole system (Madden, Banerjee, Rappoport & Suenaga, 2016). For the network and the communication there should be use of the internet-based technologies in order to create on the value for the users and the delivery of the services effectively. The e-commerce application should have an information repository components these are the servers, the load balancing systems and the use of encrypted devices used when communication to keep the information more secure.
The e-commerce infrastructure is aimed to identify on the business goals in regards to the functionalities of the hardware and the software components. The software components used are the content management systems, the analytics of web, text analytics, the database servers, database and the application of the middleware. The hardware application needed to meet on the goals of the business are the servers, the proxy servers, and the load balancing system, the encryption of the device and a unit for the interactive voice response. Some of the major components that has the techno functions are the middleware that resides on the client and the server, the email directory service and the lookup database.
The e-commerce security entails protection of the e-commerce assets from the unauthorized access, destruction or even alternation. Various mechanism may be adopted in order to address on the issues of the security (Karahanna, Polites, Williams, Liu & Seligman, 2013). One of the way to address on security is to have a communication channels for protection. This can be achieved through encryption where there is use of private key encryption and various protocol to be established. There is use of server protection mechanism this help for the access control and the authentication. This can be achieved using digital signature from the users and the access control list. Further security can be minimize through the performance of the risk assessment on the information of the assets and the value of the firm. Moreover, there should be a development of an implementation plan that has a set of the steps of action in order to achieve on the security goals. The company should be able to perform on the security audit, which act as the routine review of all the access logs and the evaluation of the procedures of the security.
The email marketing has become a valuable tool for marketing in the recent years. Learning to manage an email campaign of marketing can be beneficial to the business. On addressing on the requirement of e-marketing one should understand the risk hefty fines. One should be granted permission by recipient to send commercial email and each of the piece should offer a visible method to opt out on the future transmission. Additionally to address on the requirement it is important to know the tactic used in this strategy and the actions that will be taken on the delivery.it is important to keep record showing the date, and the method of collecting method. It is important to decide on whether the method will be automatic, this can be achieved through double opt or the opt out method to enable the consumers to remove themselves from the mailing list.
The e-commerce strategy that will be adopted by the company will have the hosted payment gateways as the method of the payment. The method will take the customer off from the site checkout page. Once the users’ clicks on the button of pay at the website, the users will be redirected to the payment service provider page (Fang, Qureshi, Sun, McCole, Ramsey & Lim, 2014). The customers fill on the payment details. Once the client pays, they are then redirected back to the website in order to finish on the checkout process. Moreover, option to adopt is the use of the iframe. The payment provider creates a form to the merchant store and inserts that to the website.
Once the merchant accepts either the credit or the debit card the payment are made. In the case there is a recurrent payment that will be made there will be creation of the profile for the customer with the information of the number of recurrent count, the amount and the number of frequency (Dong, Wu & Li, 2016). The aspect of the refund and the cancellation is handled at the payment of the site gateway.
The vast in the internet advertising offers a solid platform for the e-commerce to be explored. Many of the ethical and the global issues of the IT usually apply to the e-business. Some issues need to be addressed such as web tracking. There is need for the company to have application to provide the consumer on their privacy (Chiu, Wang, Fang & Huang, 2014). The company can use the Privacy Guardian in order to protect the user’s privacy, as they are online by erasing on the browsers cache, and the surfing history (Da Costa, 2016). There is need to address on the privacy issue. Most of the electronic payment system usually know the identity of the buyer. It is therefore important to protect the identity of the clients who uses the electronic payment method while making their purchase.
The privacy issues that can relate to the employee of the company is on the tracking. The monitoring systems should be installed in the company to monitor on the e-mail and other of the web activities. Another ethical issue to address is the legal issue (Zhao, Li, He, Chang, Wen & Li, 2016). There is need to address on the aspect that are related to the consumer who defraud the merchants. The company can set up a legal department in order to deal with the fraud cases as most of the cases there are fraud cases that are witnessed over the internet.
Today the platform for carrying the business have changed significantly in order to cater to the growing online customer audience, the fact remain individual needs to expect there is a good customer service even on the digital platform (Cardona, Duch-Brown, Francois, Martens & Yang, 2015). The online platform should provide a 24/7 means for the services in order to serve the customer who seek information in the odd hours. There could be offline stores to provide a personal shopping assistance to the customers. There should be a live chat channel. This is one of the most effective method of the customer service channel that is used in the e-commerce. The chat allows one to chat with the visitors in a real time, answer the questions they have asked and provide an appropriate advice within a short time (Chen, Yen, Pornpriphet & Widjaja, 2015). There should also be social media that link on the e-business strategy. This can become effective customer service channels where the customers can address on their concern. Feedback on their query should be provided promptly.
The proposed system for the BTFC Company can be measured using various metrics and tools. One of the metric is to understand on the lifetime value of the customer (Beier & Wagner, 2014). The company should calculate their return on the investment focusing on the lifetime value of the customers. Another measure to use is to monitor on the satisfaction of the customer. There are many tools that can be employed to measure on the customer satisfaction one could be the Google analytic, the purchases history of the customers and the psychographic tools. Another metric to look at is the measurement of the sales funnel (Barnes & Hunt, 2013). There are online tools that can be used to track on the customer information some of these are the conversion rates and look at the landing pages.
Conclusion
The BTFC Company need to improve on the market communication and collaboration between the exhibition companies, customers and suppliers. The company need to adopt on this e-commerce strategy in order to create on the new online channels for marketing, sales and improvement of collaboration and communication with the exhibitors and the supply. The use of this application will help in achieving these aspects.
References
Amoroso, D. L., Roman, F. L., & Morco, R. (2016). E-Commerce Online Purchase Intention: Importance of Corporate Social Responsibility Issues.
Andam, Z. R. (2014). e-Commerce and e-Business.
Barnes, S., & Hunt, B. (Eds.). (2013). E-commerce and v-business. Routledge.
Beier, M., & Wagner, K. (2014). Crowdfunding between Social Media and E-Commerce: Online Communication, Online Relationships and Fundraising Success on Crowdfunding Platforms. SSRN Electronic Journal.
Cardona, M., Duch-Brown, N., Francois, J., Martens, B., & Yang, F. (2015). The macro- economic impact of e-commerce in the EU Digital Single Market (No. 2015-09). Institute of Prospective Technological Studies, Joint Research Centre.
Chen, J. V., Yen, D. C., Pornpriphet, W., & Widjaja, A. E. (2015). E-commerce web site loyalty: A cross cultural comparison. Information Systems Frontiers, 17(6), 1283-1299.
Chiu, C. M., Wang, E. T., Fang, Y. H., & Huang, H. Y. (2014). Understanding customers’ repeat purchase intentions in B2C eâ€Âcommerce: the roles of utilitarian value, hedonic value and perceived risk. Information Systems Journal, 24(1), 85-114.
Da Costa, E. (2016). Global e-commerce strategies for small businesses. Mit Press.
Dong, M., Wu, A. P., & Li, H. (2016). Studying Cost Allocation in Joint Distribution for E- Commerce—A Small to Medium Size Logistic Firm’s Perspective. In Proceedings of the 22nd International Conference on Industrial Engineering and Engineering Management 2015 (pp. 379-385). Atlantis Press.
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), 407-427.
Huang, Z., & Benyoucef, M. (2013). From e-commerce to social commerce: A close look at design features. Electronic Commerce Research and Applications, 12(4), 246-259.
Karahanna, E., Polites, G. L., Williams, C. K., Liu, B., & Seligman, L. (2013). The Influence of Uncertainty Avoidance on Consumer Perceptions of Global E-Commerce Sites. MWAIS 2013 Proceedings, paper, 13.
Madden, G., Banerjee, A., Rappoport, P. N., & Suenaga, H. (2016). E-commerce transactions, the installed base of credit cards, and the potential mobile E-commerce adoption. Applied Economics, 1-12.
Mavlanova, T., Benbunan-Fich, R., & Lang, G. (2016). The role of external and internal signals in E-commerce. Decision Support Systems.
Mohapatra, S. (2013). E-commerce Strategy. In E-Commerce Strategy (pp. 155-171). Springer US.
Zhao, W. X., Li, S., He, Y., Chang, E. Y., Wen, J. R., & Li, X. (2016). Connecting Social Media to E-Commerce: Cold-Start Product Recommendation Using Microblogging Information. IEEE Transactions on Knowledge and Data Engineering, 28(5), 1147-1159.
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