Technology that is developed in our country these day affect people in so many ways especially in our lifestyle. With great technology, people these days are getting familiar into having an online business. By having lots of high end technology products particularly a smartphone, it is easier for a seller to start off an online business as everything is at our fingertips.Getting into online business leads us to many advantages that can benefit us in many ways such as increasing in sales as well as saving some cost. It also allows us to communicate with our customers easily and it can be done at anywhere and at any time we desire. The first advantage of doing business online is that it increases the sales and save the cost. It only requires minimum initial investment to run an online business as we do not have to invest our money in renting or buying a physical …show more content…
It is one of the advantages of doing online business as we don’t have to worry about our business even when we are on our vacation with family as we can do the business anywhere. In addition, we can have a quality time with our family and at the same time we can still work in order to increase our income.This is a good advantage as we can settle many things while running our business. As the physicaI work place has been replace with this online business, you can do your business even at home, and exactly it helps you to balance your personal life and your career life well (Tiffany, 2017) . In order to bring you closer to your big break or to your final point, a small improvement each day will help you to bring you closer to them. Change does not occur overnight, it takes time. (Fadza, 2017). Thus, doing online business is the best way to help us to start a business as we can running our business like everywhere and anytime and without disturb our daily
1.Having a website for a traditional business can enhance operations, attract new customers, and increase income. There are a great amount of people that would rather accomplish tasks online. A website for a business that sells products can set up a system where products can be bought and shipped to the buyer. People live busy lives and often do not have time for shopping for whatever it is they may need and the option to buy and have items shipped has become increasingly popular in order to save time and money. It has gotten to the point where some people are ordering there groceries online and having them delivered to their porch. There may be a potential for a broader customer base for certain operations if they had this particular option. Places that need reservations such as restaurants and hair/nail salons can also
On the other hand, online businesses are a recent invention and are far from reaching a point of saturation. It is impossible to imagine a world without internet.
The threat of substitute products and services; Is pretty high in my opinion due to the fact that you could start this type of business out of your home then expand to a bigger location if need be. Look at the huge corporations of online powerhouses that have started out of their house or
The internet offers the potential to achieve a global market success for any business. Businesses that go online increase their opportunities to reach their target market and is cost effective when compared with other forms of marketing. It creates opportunities, benefits and challenges for a business but in the long run is worth it for the added publicity and hopefully profits. Going online has benefited many organisations including Tesco PLC. I will be using Tesco as my example of the benefits, opportunities and challenges for a business by using the internet. Tesco has operated on the Internet since 1994 and started an online shopping service named 'Tesco Direct' in 1997 which
However a challenge that footlocker faces is other competition with other companies. For example JD Sports ships products internationally just like foot locker and offers the same services like footlocker does. In certain countries JD Sports is more recognised in more European countries. A way that Footlocker could resolve this is by using a celebrity endorsement (preferably an influential sports person) to enhance their sales to attract a wider audience making a bigger audience aware of the organisation.
One of the greatest is the simple fact that online sales allow a retailer to expand their current customer base without the added costs of opening and operating any additional physical brick and mortar locations. This type of business model also offers lower overhead expenditures, higher profit margins, and the ability to do business on a global scale 24 hours a day, 7 days a week. Even better, the target market could be anyone, anywhere!
The Internet over the past few years has seen a huge increase in online businesses and consumers. Electronic-commerce is expected to generate $36 billion in revenue during 1999, up 140% from last year alone.[1] With such a huge amount of money to be made on the Internet it is becoming very appealing for small businesses and start-up companies to try and make their niche in e-commerce. The Internet is drastically affecting the way companies and people conduct business now. E-commerce encourages growth in existing as well as new businesses because of lower overhead costs, the huge consumer base and the freedom of information flow. However the online revolution has created a large
Online purchasing is becoming more and more practical thing for contemporary customer. It is explained by high internet penetration in every country, lower cost than in retail network, door to door delivery. Internet plays an important role nowadays; therefore it creates a new market, which sometimes is quite difficult to measure. Online shopping is different from the B&M shopping due to the fact that there is no physical presence of goods, from other standpoint internet is able to sell way more services and motivation and decision making process directly connected to the feedbacks.
The company realizes and utilizes the social platforms as pathways to acquiring new markets and increase in growth. The well developed company websites provide all the information on products available for sale, their health benefits, recipes, and even provides sections whereby one can access tutorials on how to cook certain healthy meals. Customers can also find and receive gift cards, coupons, and promotional deals through the online platforms. The well developed web structure has also prompted the company to adopt an online shopping system. There is a growing trend on making product purchases online. Most buyers in this time and age would prefer to pay more for services so that they can save time. The online shopping system allows for purchases at any time of the day, time saving and comparison shopping.
Business has thived on the internet, internet business are able to reach a wider market [2]"Through the internet, a business of any size can compete in the global marketplace. In fact, on the internet, the size of an organization's operation makes little difference because the internet is an open environment. " because anyone has access to the internet businesses can reach anyone also giving the customer a wider choice of products.
The Internet is a powerful tool that can make your business more productive and profitable. The rapid growth of internet is bringing rapid grow of the online business opportunities. Internet gives a lot of new opportunities to expand their business activities and increase their profits. Most companies use the internet to manage their work. People can go to the business home pages to learn more information about the products. Online businesses like Amazon and eBay by going to their website people can purchase while they’re sitting at home.“Some hope the Internet will
The internet has given a new outlook to the way we do business. It has made the world look like a small place because we can order or sell anything and everything around the globe. Internet has become a boon for the upcoming companies as they can promote their new technology, their brand name through the internet. Now net banking is possible in which we can directly check our balance, open new account or can directly transfer the money in someone’s account without even going to the bank .We can pay all the bills and book the tickets online just by sitting at home. There is no more need to stand in queue. We can shop online, compare all the clothing brands just by sitting at home and we get the desired product within some days at our door step. We can even return the product if we are not satisfied. The internet is used by companies to build better relations with customer. We can send large chunks of data through email. Small part time business have also become successful ,if someone is good at baking cakes so they can ship them online and earn good amount of money for this. On the contrary, there are some risks doing business on the internet. Our accounts, card detail can be at risk while making any transactions and someone can
Nowadays, working online activity has becoming increasingly well-known and well received at home in some countries. This shows that working online from home getting a warm welcome in being able to provide benefits. However, working online also has disadvantages that cannot be ignored. Let us look at both sides of working from home, what advantages and disadvantages can come of this trend.
Many businesses are currently using various online platforms to promote and marketing their products. With the advancement of technology and increased access of the internet by people, the business have taken the opportunity to reach their potential customers through the internet. There are various advantages that accrue to a business entity that uses internet as a marketing tool. The internet marketing has tremendously increased and the businesses that have not embraced internet marketing are missing out on great opportunity (Schibrowsky, Peltier & Nill, 2007). The importance of using internet as a marketing tool is as explained below;
In today’s world of business, everything is computerized and most of the companies use the Internet and information business to help keep their quality, save time and also cost. It also can reach out to more customers worldwide. For an example, with a website in the internet, it would relay the message to millions of viewers worldwide regarding the product and service that the particular company can provide and indirectly saves cost in advertising in television and print advertisments.