Ecommerce Business

Introduction Developing an e-commerce business is a difficult process, that will test the determination and commitment of any person that has created a business in the past. I this paper will examine four different scenarios that one might be confronted with in owning an e-commerce business. The scenarios are as follow: * Imagine that someone has offered you $1,000 to buy your online domain name shortly after you started your business online. Explain why or why you would not sell and cite the ethical dilemmas involved. The e-commerce software you will be using must provide a catalog display, shopping cart capabilities, and transaction processing. The convenience and usability for the customer are benefits of these functions. State how each of these functions could be beneficial to your business. * Your business will have created a presence in the physical world by having a store along the boardwalk. Creating effective presence on the Web. Including how to improve Web presence by incr easing website usability. Develop a web marketing strategy for your company including the following: identify the market segments you will target, how you will reach that segment, and explain how you will reach that segment, and explain how you will advertise on the Web. Being able to properly answer and respond to these scenarios, will assist people who wish to start an e-commerce business. Understanding these scenarios will assist in determining the market segments, as well has helping to understanding the worth of your business. Selling Your Domain Name Several things must be considered when a business is thinking of selling their domain name to someone else. In business, one is continuously working to convince others to do your bidding. The goal of a business is to convince customers to purchase your product or service, and then convince those same customers to pay their accounts on time. As it pertains to the employees that work at your business, they must treat the customers well and contribute to the company. They must abide by all ethical and moral standards that the business has put in place. By setting forth a great deal of effort to create and develop my business, it is not likely that I will sell my business for $1,000. By selling the domain name of my business, all the work that I have done to make my company relevant and credible would be in jeopardy. Most successful companies are known by their domain name or their brand, and it takes hard work and determination to accomplish the task of making your domain name credible. Customer Convenience The e-commerce business that I create will attempt to make the shopping and visit to my business website as convenient as possible for my potential customers. This will be accomplished by providing three services that all e-commerce businesses must have in order to be successful: shopping catalog display, shopping car capabilities, and a simple transaction process. The shopping catalog display must be able to store information about items in a database. My e-commerce business will also provide a search engine that allows customers to enter descriptions to quickly find the items they wish to purchase or find information about. The shopping cart capabilities will use online forms to document online shopping in the past, and it will be able to distinguish from one customer to another. I would also create a database that will store information about the clients preferred choices. I will use software that will calculate price, volume discounts, sales tax, and shopping cost. Electronic commerce software will be used to provide connections to accounting software so the sales of the web can be entered simultaneously. All of these different service that I will incorporate will allow the customers a simple and convenient way to purchase our goods and services, as well as find out as much information as possible about our goods and services. Boardwalk Store When creating a physical store on the boardwalk I will attempt to maintain my presence of the Web. In order to accomplish this I will have to implement two things to achieve this success. First of all, I would use an e-mail address to identify users. This is because e-mail addresses are easier to remember and are more standard, as well as being unique. Second, I will attempt to create a system to make ordering easy. This process could be quite complex, so I would make this process easier at each step. This can be accomplished by having the customer enter the least amount of information at each step. This can make the experience of purchasing our product and visiting our website simple on every level. Marketing Strategies When marketing on the Web, a business must completely understand the different segments that they must market their products and services. The different segmentations are as follow: behavioral, demographic, geographic, and psychographic. The behavioral segmentation consist of dividing people into groups according to how they behave and act toward products. I would create a website that gives examples on encouraging consumers to use my products for multiple purposes. The demographic segmentation obtains demographic information from the U. S. Census Bureau’s website. The site would discuss some prominent demographic characteristics used to segment buyers. This includes age, income, gender, and family life cycles. Geographic segmentation is when a market strategy that allows businesses to market by the geographic in which a customer’s live. Psychographic segmentation gathers extensive information of the customers activities, interests, opinions, values, and lifestyles. I would use the VAL survey( values, attitudes, and lifestyles) to find out what category each individual is apart . This will allow me to market according to their psychological makeup, which will give me the ability to better market my product. Marketing is an essential part of the success or failure of any business, owners should not take this aspect of the business lightly. Conclusion In my opinion, understanding all of these aspects of business will allow a person who is attempting to start an online business successful. The marketing and convenience aspect of business is key is maintain and sustaining a successful business. Having a full understanding of the Web as it pertains to business, as well as knowing the importance of what goes in to making your domain name credible is also an essential part of business. References Keys to Improving your Web Presence (2011) Retrieved from http://www. ocularconcepts. us/blc/blog/keys-to-improving-your-web-presence/ Lars, Perner (n. d. ) Introduction to Marketing. Retrieved from http://www. consumerpsychologist. com/marketing_introduction. html Schneider, G. (2011). Electronic commerce: 2011 custom edition (9th ed. ). Mason, OH: Cengage Learning.