Electronic business (e-business) can be defined as the use of the internet to network and empower business processes, electronic commerce, organizational communication and collaboration within a company and with its customers, suppliers, and other stakeholders. E-businesses utilise the internet, intranets, extranets and other networks to support their commercial processes (Colin Combe, 2006). Companies go online to engage in advertising, buying and selling of products and services. Due to the increased competitiveness in the hypermarket industry, the adoption of e-business has helped companies gain a competitive edge over their peers in terms of reduced costs, increased revenue streams and greater customer satisfaction. Operational costs such
In order to improve its position in the long term, eBay could therefore create more units by dividing existing ones, so that it will end up being more successful in addressing consumers’ preferences across different markets. One further recommendation might be to increase the autonomy of business-type divisions in order to create a more effective management of marketplace and other
This is the best great reasons in Tesco competitive advantage. In era globalization, the internet is most important part in the operation company system. For example, Tesco use the internet to control stock, keep all the stock and deliveries record and analyses business transaction. This is because to serve the company to become more necessities rather than luxuries in their own operation. It can also be said that IT has risen beyond its traditional support role and taken up a central role in business strategy formulation.
There are lots of factors that effecting business environments. Before I explain those factors we have to know what is the meaning of Business environments? Business is a commercial structure or system where products and service are exchanged for money or any other service. Every business needs some method of asset and enough customers to whom its output can be sold on a consistent basis in order to a profit. There are some factors which will influence business environments which what I going to discuss in this essay.
The significance of e-commerce will vary between the businesses and organisations in terms of how the customers will adopt to this in the different types of marketplaces. The adaption to e-commerce will be different for individuals and business. The e-commerce transactions can be either buy–side or sell–side transactions. Buy–side e-commerce transactions exist between the organisation and its suppliers. Sell–side e-commerce transactions will exist between the organisation and its customers.
Two processes of value creation and value appropriation are the essential factors of competitive advantages that are the backbone of marketing strategy (Mizik & Jacobson, 2003). Value creation involves innovation and production that occur before products are delivered on the market. Once the products are placed on the market, the process shifts to value appropriation that focuses on extracting profits (Mizik & Jacobson, 2003). Drucker (1954, as cited in Mizik & Jacobson, 2003) says that combining both processes is essential to gain competitiveness for the firms. The company needs to create superior value for its customers, as well as to appropriate such created value into a financial profit (Mizik & Jacobson, 2003).
E-BUSINESS MODELS E-business and E-commerce are commonly used interchangeably in many books, they have distinct definition as e-business model which is a ‘framework’ for classifying e-businesses in terms of strategic business objectives, and e-commerce model, which is a schema for business, processes that shows, in general terms, where the goods and money flow. All the business models used in practice mainly focus on the value proposition and revenue generation by using e-business processes. (a) Value proposition : Since the focus of the value proposition is on the customer, firms have to state the proposition from the customer's perspective. Value propositions may be based on lowest cost (Buy.com), superior customer service (Amazon.com), reduction in product search (Autobytel) or price discovery (Shopping.com) costs, product customization (Dell), or provision of niche products (Anything Left Handed). A good resource to use in writing the value proposition is the brainstorming session for writing the mission statement of the business firm.
Marketing Management – Consulation on Marketing strategy of Dhiraagu Executive Summary Marketing management is the organizational discipline which can make focusing on the techniques, practical application of marketing orientation and methods inside enterprises in the management of a firm 's marketing activities and resources. The brand audit investigates the return on existing investments, trends in a business’ net profits and its established economic value. It determines the business’ entire financial strength and assesses a business’ image and reputation with its customers. It determines how is perceived as an industry leader in technology, along with exceptional customer service, offering a product or service innovations, other
Are you also unaware of the importance and power of Digital Marketing, just like Samantha? Well, if so, this particular article will be worth a read for you. In this technological era of smartphones and desktops, where almost everything can be found online, businesses have to have an online presence in order to be successful. And, just in case you have a feeling that online presence only means having a website, then no my dear mate. There’s a lot more in the world of digital marketing which if explored aptly, can help build a strong repute for your business online.
“What do we mean by value creation? For the customer, it entails making products and providing services that customers find consistently useful. In today's economy, such value creation is based typically on product and process innovation and on understanding unique customer needs with ever increasing speed and precision. But companies can innovate and deliver outstanding service only if they tap the commitment, energy, and imagination of their employees. Value must therefore be created for those employees in order to motivate and enable them.