Business Questions & Answers

Question 1i. How might a web site benefit the youth club? List down and explain the factors:

Youth club is a local youth organization supported solely by the donations of individuals and the local church community, considered that financial will be one of their main concerns. Firstly the web site can ability to lower the cost of doing business, as you know, the web is one of most efficient ways of reaching both new and existing customers. Properly promoted, a web site can reduce a company's cost of generating sales leads, providing customer support, and distributing marketing materials.

Moreover, the web site ability to remain open 24 hours a day, seven day a week. Actually they can show off around the clock without having to incur additional staffing expenses. And also, the web site ability to expand their reach into global markets.

The web is the most efficient way for small business to sell their products to the peoples who browse the web. Tapping into these global markets through more traditional methods would be too complex and too costly for the typical small business. Yet with the web, a small company can sell its products efficiently to customers anywhere in the world at any time of day. Furthermore, the web is easy and power to educate and to inform to everyone. Far more that most marketing media, the web gives entrepreneurs the power to educate and to inform customers. Women and members of generation y. especially, crave product information before they make purchases. The web allows business owners to provide more detailed information to visitors than practically any other medium.

In essence, the web allows youth club to match the efficiencies by increasing their reach and the scope of their operations, by connecting with suppliers and customers to lower costs, and by measuring the results of their e-commerce efforts.

Question 1ii. The building fund manager, Mr. Grover, has been overwhelmed by the generosity of the community and numerous requests to donate supplies. Describe how the web site may be able to help him organize the donation requests and determine the type and quality of the building supplies needed?

Think about Mr. Grover can make use the advantage of web site as communication tools and platform; it can be provide time flexibility in dealing with all suppliers and enable to operate 24hours, 7days. In the meantime, it can power to educate and to inform to everyone what they want and what they need.

Besides, web sites can ability to spot new business opportunities and to capitalize on them. E-commerce companies are poised to give customers just what they want when they want it. Moreover, the web gives businesses the power to track virtually any kind of activity on their web sites, from the number of visitors to the click-through rates on their banner ads. Because of the web's ability to monitor traffic continuously, entrepreneurs can judge their sites are generating for their companies.

Question 1iii. What other type of activities should new wave chance implement to support the success of the new web site? You must apply the basic e-commerce suggestions for designing a “killer web site”.

First of all, we need to fully understand who are you target customer. Besides launching into the design of their web sites, entrepreneurs must develop a clear picture of their target customers. The goal is create a design in which customers see themselves when they visit and creating a site in which customers find a comfortable fit requires a careful blend of market research, sales image, style and ambiance in its online presence as in its offline stores. For example, a web site that sells discount baby clothing will have an entirely different look and feel than one that sells upscale outdoor gear.

Secondly, we must focus on “to give customers what they want”. Although web shoppers are price-conscious, they rank first delivery as the most important criterion in their purchase decisions. Studies also show that surfers look for a large selection of merchandise available to them immediately. Remember that the essence of the selling on the web is providing convenience to customers. Sites that allow them to shop whenever they want, choose from a wide selection of products, find what they are looking for quickly and easily, and pay for it conveniently and securely will keep customers coming back.

Furthermore, we need to select an intuitive domain name. Decide on a domain name that is consistent with the image you want to create for your company and register it. Entrepreneurs should never underestimate the power of the right domain name or URL, which is a company's address on the internet. It not only tells web surfers where to find a company, but it also should suggest something about the company and what it does. Even the casual web surfer could guess that the “” name belongs to a company selling children's toys (it belongs to E-toy inc., which also owns “”, “” and several other variations of its name). Entrepreneurs must recognize that a domain name is part of the brand they are creating and should create the proper image for the company. Nevertheless, the ideal domain name of “killer web site” should be short, memorable, indicative of a company's business or business name and easy to spell.

Question 4. Describe what is meant by guerrilla marketing. What objective should a guerrilla marketing plan accomplish? List and explain with examples five guerrilla marketing tactics your small business might be able to use successfully.

Guerrilla marketing means unconventional, low-cost, creative marketing strategies designed to give small companies an edge over their lager, richer, more powerful rivals. The required marketing investment is scaled to fit the often limited marketing resources of the organization. And guerrilla marketing plan should accomplish four objectives:

  • Firstly, it should determine customer needs and want through market research.
  • Secondly, it should pinpoint the specific target markets the company will serve.
  • Thirdly, it should analyze the firm's competitive advantages and build a marketing strategy around them.
  • Fourthly, it should help to create a marketing mix that meets customer needs and wants.

And there have five guerrilla marketing tactics your small business might be able to use successfully.

  • Firstly, one objective of market research: pinpoint the company's target market, the specific group of customers at whom the company aims its products or services.
  • Secondly, marketing strategy must be built on clear definition of a company's target customers.
  • Thirdly, mass marketing techniques no longer work.
  • Fourthly, target customer must permeate the entire business – merchandise sold, background music, layout, décor and other features.
  • Fifthly, without a clear image of its target market, a small company tries to reach almost everyone and ends up appealing to almost no one!

Question 5. Identify and elaborate the 12 myths of e-commerce.

Here below identify and elaborate the 12 myths of E-commerce:

Myth 1:

setting up a business on the web is easy and inexpensive.

A web site can result in additional costs for site redesign, hardware requirements, and other implication to the infrastructure of the business. In fact, many small businesses outsources most (sometimes all) of the activities associated with conducting business online to companies that specialize in e-commerce services. Companies that decide to operate their own e-commerce businesses quickly learn that setting up a site is only the first investment required. Sooner and later, most companies encounter follow-up investments, including updating and revising the web site, buying more hardware to support the web site, automating or expanding their warehouses to meet customer demand, integrating their inventory control system into the web site and increasing customer call-center capacity. When it comes to e-commerce, the lesson for entrepreneurs is this: Focus your efforts on the core competencies that your company has developed, whether they reside in “traditional” business practices or online, and the outsource all of the other aspects of doing business online to companies that have the expertise to make your e-commerce business successful.

Myth 2:

if launch a site, customers will flock to it.

Promoting the site is important and needs to become an integral part of the overall promotional strategy. With more than three billion web pages in existence and the number growing daily, some entrepreneurs with both physical and virtual stores must promote their web sites at every opportunity by printing their URL on everything related to their physical stores-on signs, in print and broadcast ads, on shopping bags, on merchandise labels, and anywhere else their customers will see. Issuing a press release that announces a company's new or revised web site will drive traffic to the site. Virtual shop owners consider buying ads in traditional advertising media as well as using banner ads, banner exchange programs, and cross-marketing arrangements with companies selling complementary products on their on web sites. The key to promoting a web site is networking, building relationships with other companies, customers, trade associations, online directories, and other web sites your company's customers visit. Other techniques of promoting a site include creating some type of interactivity with customers such as a web-based newsletter, writing articles that link to the company's site, hosting a chat room that allows customers to interact with one another and with company personnel, sponsoring an online contest, or establishing a web log or blog.

Myth 3:

making money on the web is easy Web retailers invest 65 percent of revenue in marketing and advertising, compared to just 4 percent for their off-line counterparts.

Myth 4:

privacy is not an important issue on the web. Internet users value their privacy and this concern has a negative impact on online sales.

Myth 5:

the most important part of any e-commerce effort is technology. Other factors influence online buyer behavior more than technology alone.

Myth 6:

strategy? I don't need a strategy to sell on the web! Just give me a web site and the rest will take care of itself.

Having a plan for the role your site will play in your business is critical to ensure it is a solid investment and that it complements and supports all other aspects of your business.

Myth 7:

on the web, customer service is not as important as it is in a traditional retail store. The customer service experience on the web is vitally important and directly impact buyer behavior.

Myth 8:

flash makes a web site better. A simple, easy to navigate and intuitive web site wins every time!

Myth 9:

it's what's up front that counts.

The site must offer value throughout.

Myth 10:

e-commerce will come brick-and-mortar retail stores to disappear.

A well-designed web site can provide synergy to the physical retail store.

Myth 11:

the greatest opportunity for e-commerce lies in the retails sector.

Internet technology offers tremendous value to many areas of business. The business-to-business environment is just one other example where the internet has had a tremendous influence.

Myth 12:

it's too late to get on the web.

It is never too late and, as the internet continues to evolve; additional features and technologies will make it even more attractive.

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