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E-commerce: Potential Customers, Website Development, SWOT Analysis, and Marketing Strategies
7 Pages2590 Words319 Views
Added on 2019-09-22
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This article discusses potential customers of E-commerce, the importance of developing a website, advanced SWOT analysis, and marketing strategies. It also covers the risks and tools for analysis. The article highlights the strengths, weaknesses, opportunities, and threats of E-commerce. It also covers the risks associated with information, technology, and business. The article provides insights into how to convert visitors into customers and the importance of SEO and social media in marketing strategies.
E-commerce: Potential Customers, Website Development, SWOT Analysis, and Marketing Strategies
Added on 2019-09-22
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BackgroundThe new ideas and ways to access the internet tools and connectivity to describe the newcommerce era which is called E-commerce now days. Business ideas and planning hasbeen completely revolutionized and operating business has become easy and convenientfor both users and service providers. When we talk about E-commerce, we refer the wayof selling and purchasing the goods and services online and this involve online paymentsystem as well that is possible through payment gateways. Enhancing economic growth,increment in business opportunities, competition in market and better profitable accessesin various markets, are the main features of E-commerce. E-commerce is swelling as anattractive and revolutionized way of doing business and helping companies to do bettercompetition in market and contribute to economic success at maximum level. (V. zwaas,2001)Here, we will discuss about potential customers of business, materiality of developing thewebsite, advanced SWOT analysis and marketing strategies of E-commerce business.E-commerce is the process of buying and selling goods and services over internet and onother various online networks that are on World Wide Web. E-commerce developmenthas increased the sales and revenues of companies that are moving faster towards growthtargets and achieving success efficiently. This is a current trend where users like to stay athome and order for groceries, cloths, shoes on internet and E-commerce companies getthem delivered at user’s door. Various payment methods have been introduced since E-commerce business took place in market and users can make the payments online fromanywhere anytime.E-commerce potential customers:As per the assignment criteria, I have chosen the parts and tyres of the vehicle. Thisproduct is targeted to any kind of four wheels’ vehicle. Ways to convert a visitor into customersWord of mouth: - This is the strongest weapon of marketing. When a customer of yourcompany spread the information of your company in positive manner and praisesproducts and services, more people shows interest and buys goods and services from thatcompanyTestimonials: - Online testimonials are also a great way to show the company successCustomize your pitch: consumers should know to customise their pitch tocustomers their talking to, the better option it will happen.Limited access: if someone has a nice product so he can ponder it providing everyonelimited access to it.Speed: speed is very important for the ecommerce companies. Most of theconsumers forget about it so it has a bad impact on business. As many popularwebsites likes flipkart and ebay make every possible way to format their websitesfaster.
Importance of Developing the Website:Developing a website helps the company to increase product knowledge, communicationmaintenance between potential clients and marketer, increase the popularity of thecompany and also many other things. Security is another feature and most important forall websites. Appropriate security methods like (HTTPS / SSL) used in making it.Marketing Strategy:A solid marketing strategy is very important in succeeding an ecommerce business.Strengthen your SEOShare your reviews on Social MediaBring your existing customers back for moreReach Out to Customers in Their Native LanguagesBusiness and Social Issues:As we know ecommerce website is most popular on internet. Besides this, it containsmany issues in which security and privacy is the most important issue in all. As withoutsecurity and privacy the chance are increases in which the customer will scared and getcheated by the seller. For example, he wills scared weather the products available onwebsite are good or bad as he can only see a picture of the product. That is why thecustomers will scare as the seller posted a good product or not. So if the seller frauds thecustomer then the standard of the society will become down. Another chance when thecustomer gets scared is after he will transfer the money and will not received the product.So a bad impact falls on IT industry as after this the customer will not go to that websiteagain to buy any other products and go to buy the products themselves by marketing. (T.Seideman, 1996)Other than that some other issues are also there. So one another important issue is theshipping issue. It means when a customer buys a product on a website from a seller and aseller is from some other state then a good data management in shipping the product isrequired. This means that the seller has to manage the data carefully and securely such asname of the buyer, Address of the buyer, credit card information and contact information.If the seller will not mange it then the buyer will not receive the right product and he willfeel as he gets cheated by the seller and after that he will not go to those websites again.Tools for the Analysis:The various tools of analysis are given below:Swot Analysis:SWOT Analysis is to frame on your strengths and keep down your weaknesses. You willwant to take the benefit of opportunities those are present by that environment andminimize the threats present by that environment. SWOT analysis is the acronym forStrengths, Weaknesses, Opportunities and Threats.
According to the figure, the questions arise by the analyst while operating a SWOTanalysis is as follows:Strengths of SWOT analysis:Universal market: E-commerce largest ability is that in this no briquette structure isrequired for doing business; no specific range is required and helps to expand all theecommerce companies to global range. The development of this refers to the spreading ofgeographic retail markets.Time saving: time saving is the strength as transactions over internet are done in notime and hence reduces the physical movement.Comparison of price and products: on the ecommerce platform every customer cancompare price and products very effectively as all the information is available about theproduct on the internet. It is the right of every customer to choose the product and bargainso the ecommerce websites provide the customer the greater bargaining power andfreedom so that a customer can buy the right product.Fast Exchange of information: It will provide fast and aright sharing of informationamong customers and sellers enables very fast in time reply.Faster buying process: the customer can buy a product in just a click at the right price.There is no physical movement and chasing of good product is needed. So it results infaster process of buying any product.WeaknessesSecurity: security is the important defy as the customers always feel themselvesinsecure mostly in the process of transactions.mock websites: there are many mock websites are available over internet thosepromises to provide better services and secure transactions and therefore disrespect theecommerce also with nasty name and gives negative impact to ecommerce.Fraud: by the hackers, the personal and financial details of customers are being misusedand therefore it scared the buyers.Minimum discounts and bargaining: In online marketing there is almost no chance ofdiscount and bargaining in buying any products.Long delivery time: in ecommerce website the consumer provides the services to theseller according to their own convenience. Most of the time the delivery time extendedand it can take day to weeks.Impossibility of physical examination: the buyer cannot check the product available onwebsite by physically touch or wear. So the quality of the product is not known.Limitation of products: Only a limited number of products can be available.Limited exposure: in evaluating areas there is no or little exposure to ecommerce inplaces where internet is not available.
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