Business Research Report
Expanding into Online Sales
Assessment Code: RWT1
Student Name: Michael Koons, Jr
Student ID: 000300718
Date: July 17, 2013
Mentor Name: Jennifer Lane
Table of Contents Executive Summary...………….……………………………………..……………….3
Introduction………………………………………………………………………...….3
Research Findings……………………………………………………….…………….3
Online Selling Advantage and Disadvantages.………………………………..3
Online Sales Impact.……………..……………………………………………4
Marketing with Trial and Error……………...………………………………..4
Recommendations………………………….………………………………………..,.5
Conclusion……………………………………………..……………………………..5
References……………………………………….…….……………………..6
Executive Summary
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As we find advantages to selling online there are also the disadvantages that we must scope out as well. When you make the leap to move your store online you find that you need to change your budget around to add some extra costs like servers, IT support, and a web designer (Centauria). This disadvantage will not cripple a company by any means but it is needed to take into account all the things that go into making your company visible on the web. Another disadvantage found is that all your products purchased online are going to need to get to your customers. These goods can be shipped to your customer or even shipped for pick up at your store but you need to take into account shipping costs and the price of your products (Deloitte).
Analysis: Advantages point
Online Sales Impact
Online sales can increase the profitability of the company, taking it from a local or national company to global in a shorter than normal time frame. Purchases from smartphones and tablets with an application on those devices could increase your sales and global recognition as well as just a simple web store. Jeremy Quicke (2012) stated “the clothing market has doubled if not tripled over the last five years since being online.” Facts like that prove that offering products online can help increase your potential for bigger and better things as a company.
There are names like E-Bay, Amazon, iTunes, Google Market and
1.Having a website for a traditional business can enhance operations, attract new customers, and increase income. There are a great amount of people that would rather accomplish tasks online. A website for a business that sells products can set up a system where products can be bought and shipped to the buyer. People live busy lives and often do not have time for shopping for whatever it is they may need and the option to buy and have items shipped has become increasingly popular in order to save time and money. It has gotten to the point where some people are ordering there groceries online and having them delivered to their porch. There may be a potential for a broader customer base for certain operations if they had this particular option. Places that need reservations such as restaurants and hair/nail salons can also
Another advantage of ordering online is that you get access to many choices. Online stores are able to provide a large number of choices, because they do not have to physically keep the frames on display. This gives customers access to increased number of options.
The internet offers the potential to achieve a global market success for any business. Businesses that go online increase their opportunities to reach their target market and is cost effective when compared with other forms of marketing. It creates opportunities, benefits and challenges for a business but in the long run is worth it for the added publicity and hopefully profits. Going online has benefited many organisations including Tesco PLC. I will be using Tesco as my example of the benefits, opportunities and challenges for a business by using the internet. Tesco has operated on the Internet since 1994 and started an online shopping service named 'Tesco Direct' in 1997 which
The disadvantages of having a website can be difficulties with shipping fees and delivery times depending on the destination that the package is being shipped to. There are several expenses to running a website the cost of a great web design, the cost to maintain the site, as well as the cost to acquire
As technology started advancing and many stores converted ad online stores popped up the company still practiced this method. By having an online presence this helps makes products easier accessible and also all customers to due further due diligence of the brand and products.
In addition, a huge benefit of shopping online is that it allows product and specification comparison so you can purchase what you need and pay less. Online stores have a lower overhead than the traditional stores offering better deals, and the consumer is able to find the product they want at a better price. In traditional brick-and-mortar stores, sales have limited quantities at hand, but online stores are able to keep a bigger inventory giving online shoppers more opportunities to find a bargain. In fact, shopping at several stores at the same time guarantees the consumer the best deal. Shopping online is simple, and finding the right product is easier. If you are shopping for a digital camera at the store it might be a little overwhelming to see the camera selection with so many specifications. Sales representatives can sometimes be misleading in an effort to make the sale. Online side-by-side product comparison will allow the consumer to
Online shopping can be more convenient for customers in that: it saves them time.it saves them money, and they have access to a great variety of products. Online shopping brings the shopping to wherever the customer is. There is no need to go out to a physical store, shopping can be done at work, school, and even in the bathroom. This saves customers time by giving them access to the purchase of goods and services when they need it. It is typical for a consumer to have a need for a good or service and forget about it if they can’t seek what they need in a timely manner, which prolongs their need and takes up time. With the convenience of buying anywhere, consumers don’t have to spend gas to go to a physical location. Also, customers go from one store to the other in search of lower prices, with online shopping a customer can view multiple price offerings without having to move and in a matter of minutes. This being said the customer has access to an immense array of products. Different brands and price points are available for comparison without having to move, which makes shopping a breeze.
In an effort to obtain the data for our research it is important to sample from group that will best represent our population. There are four basic questions that need to be answered in sample design. The first is the subject of our research, or target population. The next question is the parameters of our interest, which is high turn-over rate. The third question is the sampling frame. Because the subjects of our study are acute nurses, we should use the membership directory from the American Nurses
Shopping in stores is beginning to be a thing of the past. In this day and age anyone can purchase just about anything online so it can be extremely difficult to maintain a business selling goods online.
While local retailers are then at a competitive disadvantage, internet retailers have a disadvantage of their own in the form of the shipping and handling charges their customers must pay. Local retailers then can
Instituting management controls to insure replicability of operations once we decide to expand. This applies to product control and to financial
Introduction The Quaker Oats Company, officially formed in 1901, is currently undergoing massive reorganization, which will dramatically change its position in the industry. Over the last four years, Quaker Oats' returns have been consistently rocky. Quaker unloaded Snapple, its ice-cream toppings and condiments business, and its frozen bagel business 1997. The company has turned to an emphasis on its high performing products such as Gatorade and bagged cereals. Gatorade accounts for more than one-third of the company's total sales and claims over 80% of the US sports-drink market. Quaker is also a leading producer of granola bars, rice cakes, pancake mixes and syrups, and value-added
Improving personal communications is very important to today in the fast moving world. The communication process is very important, it is estmated that 80 percent of messages get deport” For better results replace “You statements” with “I statements.” Say I’m concerned...That will bring the person off of the defensive approch. Also discuss things as they happen with out waitng. When you wait things can be losted or forgotten. If you work them out early it will be much easier for you and the other person. Select the right ime and place to discuss something. Like and office away from co-workers or customers or busy phones. So that person has your full attention.
Besides that, it also can consist of the negative impact because it contains many of the customers that they are very familiar and comfortable with buying the jewelry from the online jewelry retailers. Next, the workers in the company will not feel very happy because they also will lose some of the potential markets to the brick-and-mortar
Some obvious disadvantages of the web merchants that we all are aware of: consumers are at higher risk of fraud on the part of the merchant than in a physical store. Merchants also risk fraudulent purchases using stolen credit cards or fraudulent repudiation of the online purchase. The lack of full disclosure with regards to the total cost of purchase is another one of the concerns of online shopping. While it may be easy to compare the base price of an item online, it may not be easy to see the total cost up front as additional fees such as shipping are often not be visible until the final step in the checkout process. Privacy of personal information is a significant issue for some consumers. Normally, a customer can only view pictures and or descriptions of the item