Free Report About E-Business Commencement For Future Gamers
In present day of pressure in the globalized market, the modernization of technology has emerged with the need of taking a business online to attract more customers and make the business successful in long run (Small Business - Chron.com, 2015). This report deals with Future Gamers which has now decided to expand its business by selling its product all across the globe. For this the company has decided to come online and sell their product to new clients by acquiring an online business strategy.
E-business is a process of marketing the products and services of the company through an online websites. This website helps the company to sell its products all across the world by being at one place. It expands the marketing capacity of the company, and allows the customers to buy the products by being in their home (Laudon and Traver, 2002). For developing an online business the first and foremost thing is to develop an idea of online business (Westland and Clark, 1999). A flow chart is presented below that shows how a company gets into an online business (Appendix A)
Pros and Cons of e-venture
An E-business has several pros and cons that are discussed in the section below:
It helps the company reach more customers
Decreases the work load of the marketing department
Make the work easier
Reduces the long term expenditure of the company
Enables the company to earn more revenue
Meet the competition in the market
Provide 24X7 services to the customers
It is a costly investment
Needs proper monitoring and technical experts
Chances of hacking and unauthorized invasion
People does not trust buying products online
In the modernized world people have become dependent on online buying and selling of products because of the modernization of internet services. As the company deals with video game development (Anon, 2015), the products produced by the company are made for young population who are used to internet in their daily life. Hence, the company will be able to target a huge population by getting its business online (Appendix B).
It can be seen from the above pie chart that the company depends mostly on customers of age 22-34years who are uses internet in their daily life.
Business to Business (B2B)
The Business to Business model shows that the website helps the company to take and execute orders. As per the model the suppliers acts as a middleman between the business organizations and the customers (Trombly, 2015). Business organizations depend on the suppliers for delivering their products to the customers.
In this model the website helps to take orders from the wholesalers and process the orders (Slideshare.net, 2012). The wholesaler acts as a middle agent who buys the products from the business organizations and sells these products to the customers (Appendix A1).
Business to Consumers (B2C)
In the Business to Consumers model the business organizations directly deals with the consumers. The website acts as a medium for selling the products. The company approaches the customers and directly deals with the customers with help of the website. The website acts as a virtual store that enables the company to reach customers from all across the globe (Cohan, 2000). Hence, a company needs to follow this model to increase its sales and run in a long run. As per this model the Future Gamers directly sells the products to the customers with the help of the website and the website helps the company to provide a 24X7 services (Appendix A2).
It is important for an online business to maintain its accounting records. It is a difficult process to maintain an account of any online business (Rosen, 2000). To solve this problem the company needs to maintain an online accounting system or software that automatically calculates the daily sales and purchase from the website. The accounting system will be linked with the websites that makes the work of accounting easier for the company (Schwerpunktausgabe „E-Commerce/M-Commerce/T-Commerce“, 2003) (Appendix D).
Supply Chain Management
Commencing an e-business makes the supply chain management structure easier. It helps to exclude the wholesaler who acts as a link between the company and the consumers. It can sell its product directly to the customers that reduce the margin and make the products less expensive for the customers (Gates and Hemingway, 1999). By reducing the price of the products, it attracts more customers. An e-business links the business directly with the customers (Appendix C).
When a company deals with its customers through online portals it is important for the company to maintain the privacy of its customers (Jaewook Lim, 2012). For this the company needs to use cloud computing system that helps the company it keep its customers data and the data of the company safe from invaders (Goldstein and O'Connor, 2002). It is important for any company to use cloud computing system for safeguarding the privacy of the customers (Bartels, 2015).
Risk and Security
Taking business online includes several risks or threats that make it difficult for the company to continue its business online. To keep the business safe from the risk it is important to analyze the risk that can occur in taking a business online (Appendix E). The risks are as follows:
Phishing: Phishing is common threats of hacking that may lead to the loss of important data and information of the company (Ebusiness.cs.cmu.edu, 2015).
Scams: There are different situations faced in E-business where the orders made by the customers are scam in nature. The company needs to deal with the problem of scams to run its e-business website smoothly.
Identity thieves: Thieves use the personal information of the customers to drain the bank accounts and ruin the credit rating of the company.
Online Marketing / E-Presence
It is important for a business commencing online website to market its website through online media. This makes people aware of the online business existence and increases the customer base of the company (Ecommercetimes.com, 2015). Through the E-presence factor a company can expand its branches at different part of the world where it wants to perform its business operations. It can take help of some e-presence marketing company which helps the company to expand its business. It is important for the company to market its website with the help of search engines and social networking sites (Appendix F).
The cost projection has been made for commencing an online business portal and an e-business. The projection of cost has been presented in tabular form in (Appendix G). This cost projection is an estimated budget that can change as per the conditions and requirement of the company. This projection has been done to provide the company with an approx budget for the venture.
Blogging is method of marketing the e-business website of the company. It helps the company market the website and makes it easier for the company to attract more customers. Hence it is helpful for the company to publish online blogs to attract more customers for the welfare of the e-business website.
E-commerce is one of the prolific and one of the most important parts in any business. It takes a huge concern to prolifically make a business available in the e-commerce sector (Rosen, 2000). But, there are many drawbacks that the company faces in the long run while taking the business into the e-commerce sector. Some of the major recommendations are stated below:
Listing the company over the internet brings major facilities like convenient service. Convenience of service to the customers help in gaining loyalty and helping the customers to choose the specific brand from the substitutes present in the market.
It brings much more customers into the database of the company. Business via e-commerce lets more people, customers etc to know about the service that the company is providing (Inderscience.com, 2015).
E-commerce facilitates of providing for writing customer reviews for any specific service or any product or even about the company. These reviews can be used as major strategically used measures to change the way of selling or supplying goods. These reviews help to bring mandatory changes that are needed.
Getting an e-commerce site helps the company to bring goodwill. Goodwill is a huge aspect that is needed for a company to flow (Prudens.com, 2015).
On line trading website can accompanied with shopping cart specification. That will attract the buyers’ mind.
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Figure: Flow chart for commencing online business
Source: Smart Draw
Figure: B2B Business Model
Source: (Sinagam.com, 2015)
Figure: B2C Business Model
Source: (Sinagam.com, 2015)
Target Market Segmentation
Source: (Bplans.co.uk, 2015)
Supply chain management model for a new commencing e-business
Source: (Fibre2fashion.com, 2015)
Accounting records of the E business website
Accounting records of the E business Website
Source: (Mrmoneymustache.com, 2015)
The risk and security system of the E business module
Source: (Enisa.europa.eu, 2015)
Reflecting the online marketing distribution
Source: (Marketingsherpa.com, 2015)
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