Electronic Business Management
The need to operate in the global markets has created the need for the company to operate e-business. In the modern days the need to access global markets has intensified and e-business has become a tool for competition by many firms. The company in question is a store specializing in collectible China plates and has decided to move into e-business. The plans to decide what need to be taken should start with designing the website of the store. The website will integrate all the aspects of the store. Examples of the components of the website should be the name and other details of the store, the products sold, and a list of all activities conducted by the store. After developing the website it will be important that all stakeholders be informed about the existence of the website. To conduct e-business, the managers of the store can post all products sold by the store. Customers can view the products, request delivery and pay bills over the website. Communication with all stakeholders should be done through the website (Jackson, Harris & Eckersley, 2003).
Market definition will involve selecting the specific products that should be sold by the company. All products sold by the company should be displayed in the website for easy access by the customers. Both goods and services offered by the company can be sold over the internet. E-business allows people to sell every kind of product over the internet. Communication with all stakeholders will be done through the e-business program. The management can manage all the resources of the organization through the e-business program (Andam, 2003).
The launch and maintenance of the proposed advertising campaign should be done by the marketing department. Launching the e-business strategy will be of great important to create awareness about the existence of e-business activities in the organization. The launching should involve informing all stakeholders and providing a list of activities that will be conducted to promote e-business. The information Technology department should have the mandate to maintain the website. The management of the company should have access to the website to decide the design and all components to be included in the e-business program (Jackson, Harris & Eckersley, 2003).
Promotional strategies will include using the existing customers to market the company to other potential customers. The e-business program will contain a section where customers will be given discounts for every customer they advise to use the web-link of the stores to purchase products. This strategy will improve profitability of the company as well as create better relationship with customers (McGuigan, 2010). This will encourage many customers to educate and promote the existence of e-business of the stores.
Keeping the existing brand name has the advantage that customers will not be confused about the new strategy adopted by the company. However, keeping the existing brand name will have adverse effects on the existing customers because it will create boredom. Creating a new brand name will introduce the company afresh and many customers will be attracted to buy products. However, using a new brand name will reduce customer loyalty. Customer loyalty is the behavior of customers to re-purchase from a certain seller (Griffin, n.d.). Customers become loyal to the products of a company due to long-term commitment with the company.
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