Market Potential or Opportunities in E - Commerce
4 Pages1027 Words164 Views
Added on 2019-09-25
Market Potential or Opportunities in E - Commerce
Added on 2019-09-25
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LO3: Be able to design e-Commerce solutionsThe market potential or opportunities for this future expansion in e-Commerce:The company can expand into markets like digital entertainment. It can offer its brandsmartphones and tablets in markets like Malaysia, South Korea, and China, etc. With onlineshopping site, more flexibility can be provided to the customers. This will attract more customersfor the company. It has the opportunity to expand overseas in Markets where the competition forretail grocery stores is less like in Australia. The higher economic growth has paved a way forthe growth of supermarket industry. Also, the increased growth of the economy will increase thespending of customers. The company will have the opportunity to enter into new markets, earnmore profits, be price stable and have the potential to fight in the competition.Current e-Commerce systems in use by the company and similar businesses:A hybrid model is used by the company. For the online shopping, the own products of Tescoand its own brands are used. Both an online mode as well as stores is opened for providing thecustomers all opportunities to shop. If any product is not there online, then it must be there in thestore and vice-versa. If any product is not there on the website and customer wishes to buy it,then the company provides him an alternative for that. Then some discounts are given too. Allthe deliveries are checked properly so that the products are saved from getting contaminated, thepackaging is proper, the seal is not broken, etc. They believe in on time delivery of products andany delay in delivery is informed to the customer in advance. The company has the policy of freereturn, and entire money is returned to the customer. The company tries to give services to thecustomers that are better and improved from the previous purchase. 1
Financial implications that companies need to be aware of are:E-commerce is formed so that easy buying and selling can happen. But this business runs onlywhen it has a lot of customers. Quantity is focused more in this business. For attracting people,offers are given by the company like ‘buy one get one', bonus cards, free home delivery, etc.The hybrid model is useful in increasing the sales as well as for increasing the revenues. An offerlike free credit system can be given to the people, but it will be provided as per the credit scoreor their payment history to make sure that the money is returned by the customers on time.Payment collection is an important consideration in this business. Various modes of paymentsare provided by the companies like COD, credit or debit card, etc. Free home delivery isprovided by the bonus card. E-Commerce solution for the company:The solution makes the business strategy ahead of the competitors; it gives a superior qualitythan the competitors, and unique quality of the product is delivered with a new solution. Therewill be flexibility in the standard. The information of the product will be updated timely, and thepages of the site will highlight the products. The site will also clearly display that which productis unique, available, what offers are applicable to it, etc. After every transaction, the informationof customer will be updated, and there will be security in the system. The e-commerce modelwill be simple and efficient. It will be made customizable, and a seamless payment solution willbe offered by the website. Then consistency will be maintained in the branding of products, andit will be done very professionally. The customers will be attracted from the public pages by theway of advertising. The customers will be given some credit for their shopping so that they payattention to the website. 2
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