The Global Marketplace

566 WordsFeb 19, 20182 Pages
Global marketplace By the help of the global marketing, a business is able to target customers from worldwide and so can their suppliers. With the help of website, the business can also able to advertise (providing and selling) which can offer extra income stream for organization. 24/7 Trading The advantage of 24/7 trading online is that online customers are able to order anytime and the orders will be stored in the database until they are process. Since, it opens 24 hours a day, seven days a week (24/7) and also the time zones no longer have an impact on online trading. Relatively low start-up and running costs To start up a small business, companies have to buy or rent a location, purchase stocks, hire staffs, pay utility costs and others. However, all of these costs have to be pay upfront before any profit has been made so this means that start costs are high as well. On the other hand, an online store start up and running costs can be very low because this business will need only few staffs or sometimes one person can able to handle the business. Gathering customer information Information is the foundation of all the business and as they constantly learn about the customers, it can be the key to increase profit. There are different ways to gather customer information for example: software now that exists can report on the visitor traffic experienced by web pages they viewed and how many times they returned and so on. All these information will be stored in log
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