The Global Marketplace

Food orders can also be placed through a website instead of being put on hold and waiting. It helps more then just business owners as well. Websites also allow people to take virtual tours of potential houses they may want to buy, venues to rent, hotels, anywhere a person may be interested without having to leave the comfort of their living room. What better way of showing off your work then a website. For example, barbers can posts pictures of their hair styling and allow people to review them. A website can become a very powerful tool.

Information is the key to any organization in the world today; it is what makes an organization successful, accurate and proficient in an increasingly competitive market. Without information a company is powerless, it does not know its customer or understand them,

DQ 1: Summarize the most important benefits and risks associated with diversification into global markets.

Theodore Levitt is often considered to be the first to recognize the trend towards globalization and states that: “companies must learn to operate as if the world were one large market – ignoring superficial regional and national differences…” In addition, he argues that the companies that do not adapt to the new global realities will become the victims of those that do.

Selling a product internationally along with the 4 P’s (planning, producing, placing, and promoting) process of a company is called global marketing (Global Marketing, 2017). Being global is important because companies are able to reach customers from all over verses in one particular town. Offering different products and services for a variety of

2. Geographical reach: Online businesses are global by nature. It is really difficult to not have visitors from all parts of the world visit your well-established website (unless of course you choose for that not to happen). Brick-and-mortar businesses have to face a very steep cost curve in order to "go-global". You might have heard of multi-billion corporations expanding rapidly around the world, but they can do so because they can highly-leverage their borrowings and have a huge amount of capital, which the owner of a small business does not

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.

Immediate transaction - Another advantage with store businesses is that they can offer automatic sales as soon as the customer is ready, with staff always working that allow you to purchase literally as soon as possible. The items purchased are also in new condition as they are efficiently ‘straight off the shelves’ and

1. Customer data is one of the most important vital piece of information every large companies should be holding and be kept into their database. Reason being it is within the business part to retain at least one copy of information to provide any information that’s been issued by the customer incorrectly if assuming clients are having trouble, lost or broke a certain product. In fact, it is vital to keep an accurate and updated information on the clients because running a business requires collecting customer’s data and store onto the data base. In today’s technology, the Information technology its precise, efficient and accurate to read and store large piece of customers files. By not having a customer database, businesses are most likely to decrease the number of customers and loss of profit due to ineffective marketing to provide customer with a data information onto the database making it much more difficult and less accurate for both customer and business track the transaction records.

As little as $30,000 could launch the store. This would leave far smaller of a safety net to establish a customer base, however.

Its vital for the company to know as much as possible about its clients. This can include their names, address, phone numbers, accounts codes, preferences, habits and characteristics. And also making sure that the company identifies the customers at every contact point, medium used, location and within divisions.

On line shopping services where customers can shop 24 hours a day 7 days a week.

An information system is a base in today’s business world. Everything is electronic. In various businesses, the survival and ability to succeed strategic business goals is challenging without extensive use of information system. Businesses improve the efficiency of their operations in order to accomplish higher profitablity. Besides that, information systems are important tools available to managers for achieving higher levels of efficiency and productiviy in business operations. For an example, Zara uses the PDA technology to gather customer feedback and input.

Starting a small business isn’t easy, but it isn’t impossible. According to the small business administration 99% of all businesses in the United States are small businesses and they employ 80% of the population, so many people have already succeeded in starting a business. But this doesn’t mean that starting a business is a walk in the park, according to Forbes 8 out of 10 businesses fail within the first 18 months. There is a lot of hard work required in starting a small business and many steps that should be taken to ensure that a small business would be successful.

Online shopping also benefits apple customers with low price value contribution 24 hours round the clock.