With the new age of technology we have entered, it would seem simple to enter the internet sales industry but things are not always as they seem. Entering the internet sales industry will prove to be a
With improved global relationships, business web is expanding its roots to every corners of the world. There has been lot of advancements in the corporate sector for the past decade. Retail marketing, e-commerce has grown enormously. With advanced computer and information technology, the retail, e-commerce has increased tremendously; applying these new technologies in business has established many new business approaches and strategies(Ramcharran, 2013). It is stated that in the year 2011, online shoppers in the United Kingdom spent 50 billion pounds which is more than 5000 percent increase in the market when compared to the year 2000; this is just because of the increased access provided to the customers and attractive features like
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 first steps that managers must consider when developing and employing an online business strategy include the ways in which information, goods and services and communications are exchanged in the web-based operational model. In essence, they must realize that technology and digitalization is key to fostering customer-centric user experiences, so as to support transactional, order fulfillment, and information exchange. In addition, an
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.
With the invention of World Wide Web, the corporate sector has evolved into new dimensions. The fast, quick, reliable, accurate and efficient internet systems of E-commerce have provided the world with new and unique business opportunities.
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.
Market research, a strong business plan, functional domain name, distribution of products, data management, return policies, full customer service, and effective IT support are all to be considered in the transformation from brick-and-mortar to e-commerce.
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.
Many organizations industriously look for the opportunity to gain the competitive advantages in their industries. One of the opportunities that frequently used by the organization is the implementation of e-commerce. Thus, the e-commerce and the online sale transaction become popular in each industry. E-commerce provides many benefits, such as the saving of shopping time, the cost savings, convenience, and free from geographical constraints.
Entering into online business the company faces challenges to retain its existing customers and to capture new markets of SME (Small and Medium Enterprises).
Businesses that use internet as a marketing tool have the advantage of reaching many customers within a short period of time. Marketing over the internet enables the businesses to overcome the
There is so much arguing about how does the internet changed normal businesses into something more complicated, E-business is defined as the use of the internet or any network to empower any business process and support the core activities such as, advertising, customer’s services, electronic commerce, organization collaboration and communication with suppliers, customers and maybe stakeholders (Colin, 2012).
Nowadays, development of new technologies and easy access to internet affected the structure of some businesses in different ways. The different elements such as cash payment problems, traffic difficulties, waste in time and energy and etc. made business owners to looking for some new ways to offer their services and products to the customers in a more convenience way. Online
In the UK, the retail industry is very competitive and every company is looking for a competitive edge over the other. They use techniques such as better services, lower prices, and customer feedback to lure more customers into their businesses. However, one sure way some of the retail shops have been able to break off is through migration to e-commerce and turning their stores into e-business hubs. The strength of this migration cannot be ignored since some of the success stories of organizations as well as retail businesses have been attributed to the digital migration towards e-commerce (Hoover, 2009).