E-Commerce E- Commerce is another name for Electric- Commerce. Electronic-commerce offers what many people believe to be an effective property of the Web. That property is the ability to adjust sites to the different needs, wants, desires and, even personalities of each individual customer. This ability is known to many experts as cognitive computing, a blend of behavioral sciences and computer science. Increasing competition worldwide, increasing demands made by customers, and the rapid pace of change in technology are forcing companies to review the way they do business, the kinds of products and services they offer, and the speed with which they release products to market. Today, most companies have worked to expand and improve their process and practices internally.
But, the massive use of the Internet by the consumers is forcing businesses to focus on external relationships and their business models. In order to meet the demand made by the Internet users, organizations are now beginning to rely on the e-commerce solutions that help reach and keep customers, open new markets, and condense the business processes. E-Commerce has various advantages for the provider. One advantage is it allows companies to build a name for their company, quickly and inexpensively. Another advantage is it offers, suggestive selling.
This is when the user can recommend similar or other products that they might/will buy. This is often done through surveys. The last advantage is the speed in which the transaction is completed. Many times Web users give up in trying to buy something due to the frustration that was caused in trying to get to that particular item.
There are also many advantages to E-Commerce for the user. The information can be updated in no time and while the user is using it. The pages can be updated without having to redesign the page. Site visitors can maneuver and control the data, as it is displayed, to suit their preferences and need-to-know.
The interactive capabilities such as purchasing on-line can be utilized, and the site visitor can filter information. Overall, E-Commerce delivers a solution to businesses that will help their clients better interact with their customers, suppliers and partners. Customer Relationship MarketingLiterature Review The Evolving Sales and Marketing Landscape Marketing and business development professionals are confronting a rapidly different and changing business landscape. The traditional business model that was once the standard is now being transformed due to technology drivers that make advanced marketing and sales capabilities possible.
The business model of yesterday supported mass marketing, mass production, and standardized cookie-cutter products and services. Enterprises will have fall behind the competition if they continue to rely and operate on this substandard model. Today, companies are re-engineering their operations and investing in enhanced IT infrastructures, which enable them to provide customized, personalized, information-rich products and services. The new objective for marketers and business developers involves understanding the needs of their clients and the markets that they serve. This new focus on providing customer value is redefining business processes. Professionals, who understand and anticipate this shift, are positioning themselves ahead of the competition.
The Impact of Technology Enabled Business Processes There is no denying the effect that technology has had on the way we conduct business. In recent years, technology has begun to play a significantly larger role in all aspects of business, including sales and marketing. Business processes must be re-engineered to incorporate a pro-active strategy for using information and IT to build a competitive advantage over other organizations. In many instances, the functionality provided by sales and marketing technology only automates current processes.
Therefore, it is imperative that processes are clearly defined and well proven. Automating a poorly understood or followed process usually results in failure. Technology must be used as an enabler to support an already sound sales and marketing strategy. Beyond automating sales and marketing capabilities, technology is now designed to provide professionals with a wealth of information about their company’s clients and the markets that they serve. Companies are now able to collect data about their customers that when analyzed and utilized properly, can result in a competitive advantage.
Online shopping is a prime example. If a customer makes a purchase, then the transaction is completed and revenue is generated. However,
