NORTHEASTERN UNIVERSITY PROJECT REPORT ON ONLINE BUSINESS . SUBMITTED TO: SUBMITTED BY: ANJUM BISWAS ANKIT SINGH PROFESSOR NUID-001876225 FOI DEPT. MASTER’S 1ST Introduction Diva Shirley of Diva’s Specialty Store has done an excellent job of promoting the physical location of her specialty store which sells discounted designer clothing, shoes and handbags. The company has been doing very well financially and needs some way to get the items that are being sold to other markets. So, Diva’s biggest problem is they only have a basic website that does not allow for any online ordering so they can’t reach a wide variety and range of customers like their competitors. If customers can’t order right then, they may not order at all. Diva’s ultimate business goal is to become more customer-focused and to promote growth with an online presence. As well as make sure that the integration of the physical location and the e-business has topnotch consumer privacy and security concerns taken care of not only in her company but also with her business suppliers and technology vendors. With all this being said, cost will still be a factor in making sure that Divas can still be competitive in the market but still can differentiate themselves from the rest of the people in the same market. Business Requirement: Objectives For starters, every project needs a solid foundation to succeed. Once you have your foundation, you need the framework to support the infrastructure. In our specific instance, the business owner only allows for website browsing and store pick up. What the site doesn’t allow is online ordering and delivery of merchandise. Our solid foundation would consist of a strong IT technician that can revise the website and expand its capabilities worldwide. The result is to increase online sales but also to get additional in-store purchasing
The business problem to be solved is how can an entrepreneur start and maintain a successful E commerce business online?
This can be done at a fraction of what it would cost the businesses to build their own systems and infrastructure. This system provides businesses with a network of distribution centers, warehouses, inventory management, and customer call centers so they can take orders on their web sites.
4.1.3 How can an E-Business strategy help The Broadway Café attract customers and increase sales?
E-Commerce Solutions Kitchen Karousel offers specialty kitchen products to a higher-end target market. The existing website is very basic and lists a quick description of their store, location and various featured products. While the website contains basic information, it does not provide product details outside of the featured products. Also, there is no shopping cart and therefore no ability to purchase items online. This severely restricts their ability to be competitive in today’s global market. An essential element of any business looking to compete online is the ability to
I decided to use the FTI consulting Inc firm to help you understand how this FTI consulting Inc helps other businesses and small owners to create a successful online retail marketing business. The FTI will illustrate through this research how to successfully market your product online. Keep in mind, that FTI is one of many firms that can help you to make your online store a success story and that there are many ways to go about marketing your company online. I choose this FTI consulting firm, because they know how to navigate a company’s product into the online marketing world. They will help us to understand how to not only get your successful product online but how to expand your company to other medias online. What I like about this FTI firm is that they will illustrate the advantages and disadvantages as well showing you what you need to do to become one of the successful company’s online. The greatest part of online retail store is that anyone can become an online retail owner if they follow the necessary steps outline in this report and to use the FTI consulting firms’ strategies to become successful in operating an online retail store. In addition, the BigCommerce firm owned by Mitchell Harper, and Eddie Manchaalani will help anyone who is serious about starting an online company regardless of your experience and knowledge of business background.
According to Ratner (2014), e-commerce can be a great opportunity for the company because 25% of its customers rely on the company’s online shop Target.com. The online store has attracted a large number of customers and therefore the company needs to focus on how to appeal to these customers in order to retain and attract more customers to the online store. Additionally, Target has a strong reputation as a fashion retailer, which has proved to be successful. Through the promotion of Lilly Pulitzer products. In brief, the company needs to focus on online marketing in order to compete with its rivals such as Walmart and Amazon, which seem to have established their reputation in the online
It is now, not only commonplace to have a website detailing the operations of your company, but expected. ?The reality is consumer ? likely even you ? turn to the internet to discover what to do, where to go, who to buy things from and more. Keeping this in mind, shopping online isn?t the only reason people go online. Instead, being online leverages multiple avenues for small businesses to gain visibility among consumers.? (Leinbach-Reyhle, 2015). For a small business trying to compete with other small and larger businesses, visibility is key.
The development of the Internet and more specifically the business website has seen brand recognition by consumers escalate to never before seen heights. Because of this brand recognition, it has become important for businesses to design their websites to reflect their overall marketing strategies. This is especially important in the retail world. All retail businesses have a similar overall marketing strategy of generating sales and retaining the customer for future sales. Most of the retail giants still greatly rely on the success of their brick and mortar stores to turn a profit. However, internet sales for these brick and mortar stores have increasingly risen over the last few years to compete with the retail stores like Amazon that are strictly internet based businesses. Brick and mortar retail stores, such as Walmart, Target, Kmart, and Nordstrom, have each designed their websites to reflect the overall retail marketing strategy as well as the individual marketing strategies that have made their brick and mortar businesses successful.
Associated Wholesale Grocers does not feel the threat of many competitors within their industry. Apparently, to be successful in any industry a company has to exercise adequate competitive skills. Also, advertising with tools and resources provided by recent trends is beneficial to companies. Many companies utilize the internet to advertise the various services they provide in their industry. Websites and social media offer tools and useful attributes that word of mouth advertising does not provide. Companies who choose to do a website are capable of posting pictures, product deals, and company history to gain a competitive advantage. For companies to achieve a complete competitive advantage, the company needs to ensure their website stands out from their competitors. Associated Wholesale Grocers website displays their company history, mission statement,
In a market with a vast amount of competitors offering similar products, it is vital that competitors stay at the front of the market. In order to do this, companies, such as Blue Nile, must increase globalization efforts. As the market shifts worldwide, so must companies. Blue Nile, for example, has recently seen success in the worldwide market, although international profits only make up 13% of revenue. Also, companies must offer reliable customer service, such as Blue Nile offers. Along with reliable customer service, online competitors must focus on reliable shipping, lowering costs when applicable. Finally, marketing efforts must be vamped to ramp up customer traffic and build larger customer bases.
According to Turban and King (2003), internet technology renders retailers an additional channel for branding, transactions and customer relationship management, the adaptation of which may drive down retailers’ transaction costs, and ensuring faster and higher quality of customer interactions, resulting in enlarging the existing markets and consumer base. M&S realizes this and have tried to sell clothing via high street stores as well as via internet though they have experienced cost cutting, rationalisation and management changes in order to revive their business in recent years. Internet technology might enable sustainable competitive advantage, but problems remain on how to physically organize their online retail operations.
Companies go online to engage in advertising, buying and selling of products and services. Due to the increased competitiveness in the hypermarket industry, the adoption of e-business has helped companies gain a competitive edge over their peers in terms of reduced costs, increased revenue streams and greater customer satisfaction. Operational costs such
A steady increase in the popularity of online sales has caused a major push towards e-commerce in the retail industry.
E-business uses the digital technology to optimize the business activities of organization in order to increase the efficiency and effectiveness of operation and gain competitive advantages. E-business provides the solution that allows the organization to instantly share database, information of products and services, financial figures and data and nearly anything else that the organization may need to operate the business activities effectively and efficiently (Nguyen, 2013). E-commerce which is the abbreviation of electronic commerce is the subset of e-business. It focuses on the online transaction which includes selling of products or service by using computer network, primarily the Internet.
revenue in 1998. A company may expect to receive more than 50 percent of all