What Is E-Commerce Strategy
Every time there is a shift in technology, businesses position themselves strategically to establish strategies that integrate new technologies so that the process of doing business can be more efficient in an attempt to maximize profits. Technologies that preceded the internet like the telegraph and the catalog revolutionized the way marketing campaigns were conducted, but it is the internet that has brought the most profound changes to the business world.
The internet has enabled swift transfer of information from one point to another, and its application has extended to include e-commerce, a mode of transaction that had not been witnessed before. E-commerce has the potential to make a tremendous impact on business success, but to put into operation a successful venture needs a lot of strategizing since a strategy that has worked for one firm may not work in another. In establishing an e-commerce venture, first I would have to weigh the cost and all the risks involved.
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It will be a costly mistake to establish a system that does not congregate all the resources and processes of my business to increase efficiency and profitability. The system would have to fit in the traditional business model so that the operations are not disrupted at the onset of implementation. Secondly, I would tailor the system to be especially applicable in bringing the business and the products we offer to the customers in an effective way. An effective e-commerce model should advertise the business’s products in a vivid manner, communicating our variety and quality as well as the price of each product.
This will eliminate the costs associated with sending salesmen to create product awareness in the market. Finally, I would tailor the e-commerce venture to include getting consumer information from the market so that I can monitor customer preferences. This can be done by making provisions for obtaining feedback from the clients who access the business’s site. Preferences may include the demand for door delivery and a variety of other business parameters. In these ways, the venture could make a dramatic difference in terms of contributing to the success of the business.
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What Is E-Commerce Strategy. (2016, Jul 15). Retrieved from https://phdessay.com/how-might-you-strategically-plan-and-implement-an-e-commerce-venture-that-could-make-a-dramatic-difference-in-your-business-success/
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