Introduction
Now is the right time to come in and buy a new car. If you buy now, you will receive a free gift with your purchase. Have you thought about taking a vacation this month? This would be the perfect gift for any loved one. These are some common phrases and questions that everyone hears on a day to day basis. Whether it is on television, the radio, or on the internet, advertisement is all over and is heard or seen by people of all ages. Marketing is taking over the business world. If the right product is marketed poorly, it is most likely to fail. It is a key fundamental exercise that all businesses must do well in order to succeed. Currently, there are several trends and strategies that more and more businesses are using to sell their products. Use of the internet is growing as fast as ever. Businesses are using this knowledge to market their products over the internet. E-business has become quite popular in the world today. Also, pricing strategies such as odd pricing, leader pricing, and discounts have proven to be quite effective and trendy in marketing nowadays.
E-Commerce
Today, the world wide web is bigger than ever. You can do or find just about anything on the internet these days. E-Commerce is rapidly growing and it is considered to be one of the biggest trends in the business field today.
Benefits to E-Commerce
There are several benefits to selling on the web. Selling on the web offers the opportunity to increase revenues, ability to expand into global markets, ability to remain open 24 hours a day, 7 days a week, power to educate and inform, ability to lower the cost of doing business, ability to recognize new business opportunities, ability for more rapid growth, and power to track sales results.(Zimmerer, Scarborough, 2005) As seen in the above benefits, e-business is a very efficient and productive way to be a successful business.
Disadvantages to E-Commerce
Even though e-commerce provides a lot of positives for a business, it can sometimes be difficult to start and keep running. Not everybody likes to buy products off of the internet. One study shows that 75% of web shoppers who fill their online shopping carts become frustrated and leave the site before checking out.
One of the main advantages of e-commerce is the fact that one doesn't have to stand in queues waiting to be served, or be placed on hold for instance in a telephone ordering system. E-commerce leaves it to the buyer as to when and where to purchase what they want. They can do it at the office, in the comfort of their homes, and with the advent of mobile technology, one can shop practically anywhere they are able to connect to their vendor of choice. This gives the customer the feeling of being in control of their time. Thus for customers, this is one of the most popular convenience of e-commerce.
E-marketing is a fast growing and rapid platform for any form of business. EBay has been highly successful over recent years and this is a perfect example of an online business. The internal and external environments are constantly changing and in order to keep up with these changes, businesses and organisations must make relevant changes, and generate new strategies to keep up with contemporary developments in e-marketing and to also maintain their position in their market in comparison to their competitors.
Over the past few years, the Internet “is fundamentally changing the way companies operate,” to create additional revenue streams and refine the way they do business with existing customers (Ecommerce). E-commerce is crucial to the future success of companies, and those that do not embrace the Internet to conduct its business “will be destroyed by competitors who are leveraging the power of the Internet” (Ecommerce).
Nowadays many well-built huge companies such as IKEA link their Internet approaches to their more traditional marketing efforts, whereas some relatively new launched businesses as Amazon and Egg have selected for e-marketing approaches more or less exclusively, using all new tech tools as for instance ATMs, retail kiosks, e-mail and iTV, countless organizations and institutions are turning to e-marketing strategies throughout the globe.
The Electronic Commerce, or e-commerce industry, is one of the most conductive sectors of the economy. E- Commerce is an interesting combination of business models and new information technologies as it deals with the buying and selling of goods and services over the Internet. The three major electronic commerce categories are: business –to- consumers (B2C)
As the Internet grows in popularity every day, so does electronic commerce. E-business can be anything from purchasing clothes from a department store online to checking your bank statement. All are examples of the many aspects of e-business. There are many forms of e-business similar to this. When comparing traditional business to e-business, one can see that there are some differences amongst the two. The most obvious difference when buying standard goods (such as a toaster, a book, or a new computer) is the store. When dealing with e-business there is no "real" store or merchandise to look at. It is all presented through the merchant's web page, or by other electronic means. You will not be able to touch, or inspect potential purchases. All you will have to go on is perhaps a picture and a brief description of the item in question. This is obviously a big change from traditional st...
Marketing is a vital component in the success of businesses. Smaller businesses rely on business advertising, expenses, knowing if the business is networking with the right people, or joining the best organisations which lead to success (EStartup business blog, 2010). Marketing concentrates on customers and what the customers want. Customers are the source of sales and profits. Many small businesses are faced with remarkable hardships due to not developing the right marketing plan (EStartup business blog, 2010). To help these businesses a more appropriate or better marketing plan needs to be designed. Small business internet marketing services can help businesses develop and thrive in a highly competitive market. For the highest quality internet marketing services, hiring an online marketing company to design a customized internet marketing campaign may be advantageous for some businesses (EStartup business blog and contributors, 2010). Identified will be the role that marketing plays in a successful business demonstrated by use of two examples, the importance of developing a marketing plan, and ethical and legal issues that surround marketing practices (EStartup business blog, 2010).
E-commerce is about two decades old, yet due to its fascinating dimensions, it remains a challenging area for researchers and professionals.
E- Commmerce dates back three decades in 1979 when Michael Aldridge invented online shopping. Following t...
The discussion about the future of e-commerce attracts both optimism and skepticism. As an optimist and staunch believer in the need to adopt and adjust to new technology, I bel...
Electronic business or e-business is a whole new way of doing business over the internet in today's society. In today's ever changing environment, people are shopping more and more online, which has opened up new aspects of money making strategies that businesses have built on. E-business has helped businesses grow, or ultimately loose revenue and play catch up. There are several key aspects in which e-business needs to be conducted. E-business can make, or break a company. This paper will reveal the history, successful companies and their strategies, trends, and the current landscape of e-business.
... E-commerce sites also provide 24/7 service. This means buying online is effortless as it is accessible at anytime. This is also easier for the customer as they may find it much more easier to browse/buy online than in a physical store.
Electronic Commerce as popularly as E-commerce has become a big deal in our growing economy due to the increase use of online systems. E-commerce now of the fastest growing business in the world. The technology has change the way of business. Business that have physical location have now made it an effort to focus their online business. It is the new sort of business platform where you can make use of different technologies like electronic data interchange or transfer document electronically. Online business is an effective of sales.
E- Commerce is a phenomena that is emerging rapidly between businesses all over the world, and it has affected the businesses at all sizes in many aspects.
E-commerce or electronic commerce is carrying out business communications and transactions through computers and over networks. It involves buying and selling of goods and services through digital communication. E-commerce also includes transactions on the World Wide Web and the Internet and means such as electronic funds transfer, smart cards and digital cash. E-commerce covers outward facing processes that interact with customers, suppliers and external partners such as sales, marketing, delivery, customer service, purchasing of raw materials and supplies for production.