1E-BUSINESS SYSTEM Week 3: Building an e-commerce presence In this week-3, it is focused on the steps which are undertaken to develop an e-commerce presence. The e-commerce presence is imagined by doing of SWOT analysis. A development of e-commerce presence map as well as development of timeline with milestones help is the processes followed to build of e-commerce presence. Before starting to work into building of website and application, there are some questions which are required to answer for drive of development as well as implementation of the online presence. Before plan to build the web presence, the users are required to have vision to accomplish the goal (Kim and Peterson 2017). Thevisionisincludedofmissionstatement,identificationoftargetaudience,market characteristics, strategic analysis and development of timeline. After examining of successful website, from the homepage, it is easier to tell about the vision of the website. The business and revenue model is used to provide a detailed analysis of the cost projections. The alternatives of business revenue model are advertising, transactional fees, sales along with revenue affiliation. Without clear understanding of the target audience, it is not possible to have successful web presence (Turbanet al.2015). In this week, there are two questions which are raised such as “who is your target audience and where they are on web”. The target audience is explained in quantity of procedures and methods such as demographics, lifestyle, digital usage prototypes, and preferences of content creation as well as buyer personas. Building of the web presence requires improving the key issues such as technology, business as well as social issues. When the organization is decided to contract out the expansion as well as operation to the service provider, then it is required to have a development plan for considerate the e-commerce infrastructure problems like price, constraints along with potential.
2E-BUSINESS SYSTEM There are various phases for successful implementation of the e-commerce presence such as scheduling, website expansion, web achievement, social media plan as well as implementation in addition to mobile plan. The lecturer provides an understanding of process to develop e- commerce presence in form of the website. In the class, the discussion helps to develop a budget for the e-commerce presence, and develop of preliminary idea for involvement of costs. In the lecture slide, the e-commerce presence map illustrates of various kinds of e-commerce presence such as offline media, websites, social media as well as email (Lu, Fan and Zhou 2016). Diagram of SWOT analysis shows outline of a start up undertaking includes of advance to the accessible market along with use of new technologies such as social in addition to mobile platforms. After conducting SWOT analysis, it is considered to overcome with the weakness and then build of strengths. Building of the e-commerce presence is a systematic approach (Kim and Peterson 2017). The management challenges are development of the clear understanding of the business objectives as well as know to choose the right technology for achieving of the objectives. First challenge helps to build the plan while second challenge helps to understand the basic elements of the infrastructure of e-commerce. References Kim, Y. and Peterson, R.A., 2017. A Meta-analysis of Online Trust Relationships in E- commerce.Journal of Interactive Marketing,38, pp.44-54. Lu, B., Fan, W. and Zhou, M., 2016. Social presence, trust, and social commerce purchase intention: An empirical research.Computers in Human Behavior,56, pp.225-237. Turban, E., King, D., Lee, J.K., Liang, T.P. and Turban, D.C., 2015.Electronic commerce: A managerial and social networks perspective. Springer.
3E-BUSINESS SYSTEM Week 4:E-commerce Security and Payment Systems While there is size of the cyber crime is unclear, therefore the cyber crime against the sites of e-commerce is growing rapidly, and then there is growth into the amount of losses. The management of sites of e-commerce is prepared for different criminal assaults. From the week lecture, it is learnt that there are six dimensions to the security of e-commerce such as integrity, privacy, authenticity, availability in addition to non-repudiation (Chaudhryet al.2016). Integrity is ensured of information which is displayed on the website and internet is not altered in unauthorized party. Non-repudiation ensures that the participants of e-commerce are not denied the online actions. As the computer security is considered as required for protection of e- commerce activities, it is not lacking of downside. There are two main areas where there are worries among safety as well as website operations are included of ease of use along with public safety (Rutherfordet al.2016). The major security threats into e-commerce are included of malicious code, sniffing, spoofing, unwanted programs, poor designed server, hacking, phishing and denial of service attacks. Encryption is a technique to transform plain text and data into the cipher text which are not read by others except sender as well as receiver. Encryption is provided with four of six key proportions of the security of e-commerce. Technology assists to defend security of the messages which is propel over the internet such as communication priority which provides assurance that sent messages that are not altered (Wankmueller 2015). Authentication offers verification of characteristics of the person distribution of the messages. Privacy provides declaration that the messages are not examine by any additional person. For secured web communication with the banks, the protocols that utilization of the cryptography are established. Qualifying the establishments utilized uncommon protocols to providestringercryptographytothewebexchangesandaround importaswellasfare
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4E-BUSINESS SYSTEM confinements which are applied for SSL as well as TLS. The main secured web communication protocols are “safe electronic exchange protocol and SGC protocol”. The three major e- commerce payment systems which are used today are PayPal, Dwolla, Google Wallet and Authorize.net. IT security as well as importance of policies as well as procedures into the small business is based on communication policies ensure that the staffs can understand the steps to take reasons to take the steps (Chaudhryet al.2016). If the employees are believed the information related to security policies, then it is treated as if time as well as effort are not valued, the security system are eased the workflow. Password security policies are set restrictive as it is required. This policy is required passwords to rotate and policy which complicates the password. The staffs are required to write down the passwords into secured locations and choose of passwords that simple as it is unable to remember. Computer as well as network is secured as available physical access for the staffs (Wankmueller 2015). The commercial technology has security as knowledgeable person those has ability for modification of the hardware. References Chaudhry,S.A.,Farash,M.S.,Naqvi,H.andSher,M.,2016.Asecureandefficient authenticatedencryptionforelectronicpaymentsystemsusingellipticcurve cryptography.Electronic Commerce Research,16(1), pp.113-139. Rutherford,B.,Dagher,A.,Wiseman,M.,Paie,D.J.M.C.,Rans,J.P.E.,Ates,F.and Wankmueller, J., Mastercard International Inc, 2016.Customer authentication in E-commerce transactions. U.S. Patent 9,514,458. Wankmueller, J.R., Mastercard International Inc, 2015.Methods and systems for using physical payment cards in secure E-commerce transactions. U.S. Patent 8,965,811.
5E-BUSINESS SYSTEM Week 5: E-commerce business strategies This week lecture provides an identification of the key components of the e-commerce business models and major B2C and B2B business models. The e-commerce business model aims to utilize as well as leverage of the characters of internet along with WWW. It consists of roles as well as responsibilities on the customer, suppliers, flow of product, information as well as benefits to the participants (Turbanet al.2017). The week discusses the key elements of the business model such as value propositions which define the product of company that fulfills with customer’s requirements. Revenue model defines how the firm is earning revenue that generates of profit as well as produce of return on the invested capital. Competitive advantage and environment are referred to competition of selling of the products along with operating into similar market spaces. The competitive advantage is achieved of firm that can produce products and bring of the product to the market at lower prices than the competitors. The business to consumer model is referred to the transactions of business among the companies (Turbanet al. 2015). B2C model is focused on direct selling among the business and consumers. As the model is dependent on the transactions, then it eliminates the wholesaler purchaser, the company can make of high profit while the customers are spend same amount of money.The B2C business models are E-tailer, community supplier, content supplier, transactional broker in addition to service provider (Strauss and Frost 2016). Apart from this, the major B2B business models are e- distributor, e-procurement, in addition to switch over and commerce consortium. There are key business concepts as well as strategies which are applicable to the e- commerce are differentiation which makes the products as well as services innovative with differentiate to distinguish them from the competitors. The cost competition is offered of products as well as services at low price as compared to competitors. The market niche is
6E-BUSINESS SYSTEM competed with narrow market and product segments. The customer intimacy is developed with stronger ties with the customers (Turbanet al.2017). The e-commerce is associated with buying as well as selling f the products and services over the internet. The e-commerce changes the structure of industry by change into the opposition among the rivals, barriers to entry into the market, threat of the new substitute of products, strength of the suppliers and bargaining power of the buyers (Turbanet al.2015). The set of activities are to be performed by the suppliers, distributors, retailers those can transform of the raw inputs into the final products. It leads to greater efficiencies of the operational. The business strategies are related to achieve of long term returns on assets invested into the commerce firm. The generic strategies are separation by creation of expectations, enhancement of product capabilities to solve the problems. Cost is lowered by effective business processes and lower cost supplier (Strauss and Frost 2016). Scope is to compete into the market rather than into local as well as national markets. Focus is competing with the product segments. References Turban, E., Outland, J., King, D., Lee, J.K., Liang, T.P. and Turban, D.C., 2017.Electronic Commerce 2018: A Managerial and Social Networks Perspective. Springer. Turban, E., King, D., Lee, J.K., Liang, T.P. and Turban, D.C., 2015. Business-to-business E- commerce. InElectronic Commerce(pp. 161-207). Springer, Cham. Strauss, J. and Frost, R.D., 2016.E-marketing: Instructor's Review Copy. Routledge.
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7E-BUSINESS SYSTEM Week 6: E-commerce Marketing and Advertising The growth into the online sales is attributed to the advantage of the internet which provide of larger amounts of the information. The business owners are used of e-commerce as the distribution channel is required to understand the buys online, what are they buying online and why they are buying online (Burns 2016). Once the information is being available, then the retailers can developed of strategy for retain of existing as well as attract of future customers. This week discusses on the digital commerce marketing as well as advertising strategies and tools which include of website as major tool to establish of relations with the customers (Wu 2017). Search engine marketing allows paying for search engines into the index of search engine. E-mail marketing is a tool which sends of email to the interested users and proven to be effective marketing communicational platforms. The technologies used into the online marketing are Google, MajesticsSEO and SEMRush. The online marketing objective is growing of social media presence which is recommended tools such as IFFT, Follower wonk to connect with the market niche (Gray 2017). There are various organizations which offer of tools for optimization of campaigns which run the websites of social media. The intelligent tools are dynamic as well as optimize for the campaigns to run into real time. The benefits of online marketing are that it is aligned with way the customers are making of purchasing decisions. From the week lecture study, it is indicated that increasing number of customers are used of social media as well as research on the internet for carrying preliminary products as well as price research before making of the final decisions. By use of the marketing on internet, there is overcoming of barriers of the distances (Burns 2016). There are selling of goods in other parts without need of local outlets and widen the target markets. It is ensured that localization services provide the products to the local markets and complied with the local
8E-BUSINESS SYSTEM business regulations. The marketing of products on internet is cost less as compared to marketing throughout the physical retail outlet. The business organization does not have recurring costs for rental as well as maintenance (Burns 2016). The online marketing as well as advertising is taken as good strategy to target digital markets and users into the digital space. It includes of challengesforonlinemarketingduetopoortargets,distinguishintoresultsintoonline marketing. The online marketing on the internet allows overcoming with distance barriers. It is widen to target the market. It is enabling to increase the revenue by marketing to the audiences. The cost of online marketing is less as compared to traditional marketing (Wu 2017). The messages are personalized on the market on internet that provide with higher lead conversion rate. The segment are prospected and the customers are based on website visits and purchasing history. Each time the organization is engaged into prospects as well as customers, it leads to sale and thanks to personalization. References Burns, P., 2016.Entrepreneurship and small business. Palgrave Macmillan Limited. Gray, C., 2017. Stage models of ICT adoption in small firms. InImpact of E-commerce on Consumers and Small Firms(pp. 19-36). Routledge. Wu, J., 2017. 78. An Optimal Design of Relationship Model between E-commerce Marketing andPerformancebasedonCloudServiceTechnology.RevistadelaFacultadde Ingeniería,32(9).
9E-BUSINESS SYSTEM Week 7: Social, Mobile, and Local Marketing The social, mobile as well as local marketing are transformed of online marketing landscape. The major trends are included of emphasis into the online marketing that shifted to explore the customers to messages towards engagement into conversations about the brand. Social marketing means discussion, interaction, emphasize and engagement of the customers. Socialmarketingaswellasadvertisingarenewadchannelswhichiscollectionof communications with the shoppers (Armstronget al.2015). In past, the business is made control over brand messaging that leads the customers ended into purchase. The decisions of customer’s purchase are driven by conservations, tastes as well as opinions of the social network. Social media as well as local marketing are self-reinforced as well as connected. When the mobile devices are powerful, then it is useful to access of Facebook as well as social sites. Among the social, mobile as well as local marketing, there are implications to manage the marketing campaign into the business environment. Into the social marketing, there is purpose is give confidence the probable customers to develop into fans of company’s products as well as services. There is engagement of the business by entering into conservation (Gulbahar and Yildirim 2015). Facebook is social media which is designed to support people for make known as individual information as possible which is included of activities, photos, movies, human behavior as well as purchases. There are two factors which make social, local as well as mobile marketing diverse from the customary online marketing such as conversation as well as engagement (Tuten and Solomon 2017). The marketing is based on the business marketing as partners are customers, critics as well as potential consumers.
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10E-BUSINESS SYSTEM Social, mobile as well as digital marketing is self-reinforced along with connected. The mobile devices are powerful as it is useful to access of the social sites. There is adoption of mobile devices that are used by the customers to discover out the local merchants, merchants to alert the clients to unusual offers. It becomes more overlapped as there are three platforms to become more coupled (Gulbahar and Yildirim 2015). The key elements of the mobile marketing campaign are that the mobile devices need quicker along with focused delivery content. The mobile marketing campaigns are required to engage the readers to be personal basis. The marketing campaigns are provided the customers with shopping experiences. By use of various platformsintothemobilemarketingcampaign,thereisanincreaseintoengagementof conversion rates (Armstronget al.2015). The local based marketing is a strategy which uses of mobiledevice’spositionfor preparedthe device owner’s aboutthe offers from near-by businesses. The local based marketing is required the end users to opt into. The strategy used to reach the new customers is involved with development of location based marketing (Tuten and Solomon 2017). This marketing is focused on marketing towards the customers on specific geographic area throughout the mobile devices. In order to understand flexibility of the location based marketing, the components are go in target the local customers based on organic search engine results. References Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015.Marketing: an introduction. Pearson Education.
11E-BUSINESS SYSTEM Gulbahar, M.O. and Yildirim, F., 2015. Marketing efforts related to social media channels and mobile application usage in tourism: Case study in Istanbul.Procedia-Social and Behavioral Sciences,195, pp.453-462. Tuten, T.L. and Solomon, M.R., 2017.Social media marketing. Sage. Week 8: E-commerce Retailing and Services The retail industry is increasing participation from the foreign as well as private players for boosting of the retail infrastructure. The e-commerce has negative impacts on retailer’s operating earnings. The study is found that investment into the supply chain upgrades, variable logistics cost as well as management of higher level into the online returns are generated of incremental cost of around 2-3% of points of sales (Kim and Peterson 2017). There are various ways the retailers can mitigate as well as offset of negative impacts of the e-commerce on operating earnings and return to the higher brick as well as mortar performances. The retailers are required to examine the structure of cost of physical stores along with infrastructure and effective operators to loss from higher online fulfillment costs. There are higher penetration rate of the internet and have higher population into contribution of the online retail which is lower as compared to other developed country. There are various essentials which are required for the online retailing such as price which amaze the prices which are invested to look out various websites for similar products (Kurniaet al.2015). The customers are taken so that information is going to disclose for shopping, will keep confidential and it is not disclosed. The trendswhich impactthe financialservicesindustry are rise into the Fintech innovators, meet with requirements of customers, identification of new revenue streams along with business models, expansion internationally and continue to invest into the cyber security.
12E-BUSINESS SYSTEM The trends which impact the travel services industry are mix of business along with pleasure based travels. There are integration of technology, travel of ERP solutions and optimization of the booking engines. Millennial are continued to dominate the travel market. The current drive for better understands the future career services are distinctive as it is being influenced by the environment(WakefieldandBlodgett2016).Thereareclimateforthecareerservices professionals which provide new information to keep the industry updated with the upcoming events. In this week, the lecturers are provided to help understand various methods which are involved into social media analytics that is responsible for identify as well as attract the customers (Kurniaet al.2015). The tools which are used for marketing with social media platform are Twitter includes of promoted tweets, promoted accounts, profile page, promoted video and lead to the generation card along with mobile ads. On-demand business model is understood to identify the key decisions. The on-demand models are scheduled and instant delivery model, marketplace suppliers and integrated supply, standardized product and service offering as well as revenue model (Kim and Peterson 2017). The on-demand economy is termed as economic activities which are created by the technological companies for fulfilling the customer’s demand via provision of goods as well as services. The business forces are lead to transform into commerce which connects the customers as well as products along with services. Theon-demandeconomyinvolveswitheconomicactivitiesthataggregatenicheservice providers and create of platform for providing of services under the brand name of the organization.
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13E-BUSINESS SYSTEM References Kim, Y. and Peterson, R.A., 2017. A Meta-analysis of Online Trust Relationships in E- commerce.Journal of Interactive Marketing,38, pp.44-54. Kurnia, S., Choudrie, J., Mahbubur, R.M. and Alzougool, B., 2015. E-commerce technology adoption: A Malaysian grocery SME retail sector study.Journal of Business Research,68(9), pp.1906-1918. Wakefield, K.L. and Blodgett, J., 2016. Retrospective: the importance of servicescapes in leisure service settings.Journal of Services Marketing,30(7), pp.686-691.