The Main Features of E-Business - Assignment Example

An Introduction to E-commerce Question What changes and enhancement would you suggest for Alarmlogic’s website? Easy accessibility: The changes that need to be effected and implemented in Alarmlogic’s website would be in terms of greater content value and depth of matter. It is necessary that visitors who may not have technical knowledge about the products and services dealt with by this Company may easily and comfortably access the security products or services that they may need, and also be informed regarding its competitive rates, shipping terms and payment terms. Therefore, these aspects of Alarmlogic’s business needs to be focused in their websites and should be derived by the customers, without much of hassle or waiting time. Rich contents and information distribution: There are certain aspects about the business that need to be visualized in the websites. From a cursory surfing of the Website it should be possibly for potential customers to be drawn towards it, and they should not be put into a position by which their needs and requirements for security products and services should be competitively gained by any other competing website. Therefore, the website developed by Alarmlogic should be rich in content, user information and product knowledge, such that special features about the products that even present users are unaware about, and which may even persuade present security system users to resort to Alarmlogic methods. Frequently asked Questions page: It is necessary that a FAQ (Frequently asked Questions) page needs to be made. This would deal with the questions that are generally asked by the customers, and the responses that are given for these questions should also be present. It is very important that the FAQ page needs to be upgraded from time to time in order to incorporate the latest developments, product lines and innovative services that are being rendered by the Company. Purchasing protocols: The purchasing options needs to be simple and it should be possibly for customers to make purchases over the internet for standard products. In the case of non-standard or customized product lines, it becomes necessary to seek the product specifications and other technical details for the installation. In such cases, it becomes necessary for direct interfacing between Alarmlogic and the prospective customers in order to reach a consensus on the terms and conditions of purchase, etc. Competitive advantages: It is also necessary that the Website should also consider significant advantages enjoyed by competitors of Alarmlogic over this company. By understanding the online methods and strategies enjoyed by their competitors, it is possible for this company to realign its marketing strategies in order to neutralize advantages enjoyed by other competitors and thus bring this Company at par with the advantages enjoyed by the competitors. Constant up gradation and testing: Another aspect that needs to be analyzed would be in terms of the fact that whenever any up gradations of the Website is done, it should be tested for its performance and market acceptability before web launching. This is because it is not enough that the website has be recreated and need to have visitors. It is also necessary that the target audiences are identified and their actual requirements are known; it is also necessary that customers are contacted on a randomised basis, in order to test the efficacy and effectiveness of the systems and also what further areas need to be remodeled, in order to serve the interests and benefits to the customers better. Online questionnaire to customers: An online Questionnaire system needs to be developed and distributed among the present customers that would address the areas of lacunae, faced by the customers and their feedbacks could be taken which could further improve the online business system practiced by Alarmlogic. It is not enough that the website is upgraded and made more attractive and beneficial to the customers. It is also necessary that serious efforts are made to earn more profits and greater revenue-generating capacities are sought by greater interaction with customers and making the website truly a unique one by catering to all requirements of present and future customers over a period. Question 2: How would these changes best meet the needs of potential and existing customers? Compulsive readability: These changes would best meet the needs of potential and existing customers in the following ways: 1. It would bring about specifics and greater content value to the website, bringing in more useful and necessary information to the customers while dong away with general ideas and computer jargon which does not serve any useful purpose to the customers. 2. It lends a sense of urgency for decisions making on the part of the potential customers. It needs to be known that there are plethoras of websites hosted by various alarm security dealing companies, big and small. Therefore, it is necessary that any potential visitor should be thoroughly impressed by the quality and rich layout of the website of Alarmlogic and should be in a position to respond positively to the website. It is also necessary that once, any potential visitor accesses Alarmlogic, except for advanced technical information etc., he should not be inclined to surf other websites offered by the competitors of the Company. In this way, it is possible to initiate, renew and retain the interests of new and existing customers in the websites. Pricing and allied matters: One of the main elements in the case of online business are the pricing and connected matters like freight and shipping, insurance and forwarding charges, etc. Besides aspects like shipping options and charges, return and exchange policies, payment terms are also very important aspects in internet business, since there is no direct interaction between buyers and sellers. Clarity in terms of business is necessary in internet business since it obviates the need for later controversies, and in extreme cases, the process of litigation. Similarly, all aspects dealt with by the company in its business procedure need to be clearly mentioned in the Terms and Conditions of Sale, which needs to be hosted on the Website. This could save a lot of unpleasantness in dealing with customers at later stages that may not be aware of the terms when they initiated the business transactions with the Company. The clear visuals regarding the products with their Code Numbers and titles would assist visitors to correctly identify the product lines and place their respective orders more judiciously and correctly. It would also help save time and efforts on the part of the Merchandising department of the Company who could execute online orders with greater precision and speed of transactions. Product categorization: This it needs to be said that a well-formulated, attractive, user-friendly and informative website with FAQ and updated links to various product categorization with direct links to Home Page, etc., would go a long way in increasing the profitability of the company and also ensuring larger turnover and internet sales in the years to come. However, it is necessary that the web page be upgraded, from time to time, on a regular basis and its rich content updated to cover current trade practices followed by the Company. What future e-business technology and strategies could you recommend that would improve the business in the long-term future? Objectives should be clear: It is essential in the first place that the Company should have clear-cut objectives and a mission statement that clearly defines this in lucid terms. The phenomenal growth of amazon.com could be attributed to its mission statement that clearly defined that it wanted to be the biggest online bookstore in the world. Moreover, it would be an understatement to say that it has not made reasonable and significant advances in its growth graph. In the case of Alarmlogic, it is seen that it need to improve their “personalized search tools and links to related products and services.” (Calkins et al, 2000, P.140). It also needs to ensure that their existing clientele do not transact with other companies since it has been found that the internet companies need to spend more on new clientele than servicing existing clientele. Strategies for growth: It is seen that that following aspects need to be taken into account in establishing sound e-business technology and strategies: 1. Content 2. Community. 3. Commerce. (The McKinsey Quarterly, 2000, P.142). 4. Connectivity of networks and alliances with influential partners. 5. Innovativeness and creativity that could enhance clients’ and visitors’ interest and awareness. 6. Competitors sites need to be carefully analyzed and good aspects could be incorporated into the company’s websites that could enhance business in future. 7. Scale of performance. Content: The aspect of context has already been discussed in Part I of this study. It is essential that the web content needs to consider the specific needs of the customer and its satisfaction, at the same time making it interesting and informative for potential customers. Community: The network of internet companies are important since these alliances and partnerships could serve to improve business and enhance profits. It is often seen that internet companies may neither sell their own products or may sell the products of other companies through their sites, thereby enhancing revenues. In addition, internet advertisements could be a source of revenue generation for the main company. Amazon.com owes a lot of its present success to its numerous alliances and strategic partnerships. It is seen that the main concern of Amazon is with regard to success through greater use of internet technology. Amazons main aim is to generate profit, enabling them to innovate, re-invest and prosper. The Amazon marketplace is concerned with generating sales and making sales leads purely through their site. Amazon also addresses to the following aspects of internet business: • initiate and maintain Customer Relationship Management (CRM). • build new customer relationships and reinforce existing ones. • Communicate information. • Satisfy supply and demand parameters. Commerce: The ability of being used on the web is very much imperative in retaining customers and building new ones. However, it is also necessary that proper investments are made in these areas since the quality of the depth and analytical ability would depend directly upon the usage. One of the key factors in the success of amazon.com has been its innovative approach. It is seen that “certain shops allow customers to search on-line for books that are not available in its shops, including titles no longer in print, which it can often provide from its own or its affiliates’ inventory.” (Calkins et al, 2000, P.145). Connectivity of networks and alliances with influential partners: It is seen that to a large extent the success of websites would lie with the success rates of conversion of potential customers into real ones. In this respect, it is seen amazon.com, one of the largest online bookstores in the world depended upon its strategic alliances. Moreover, its business associates are also increasing due to greater responses. It is believed that it is necessary for this Company also to enter into associate programs for the benefit of its customers and visitors. “The Associates Program offers many benefits to Web site owners including the opportunity to generate revenue via their site, a wide range of relevant products to promote from Amazons huge selection, easy-to-use tools to create and customize the links that work best, detailed reports to help you better understand your visitors preferences and link performance, an association with Amazon.com, and the chance to interact with a broad community of other Web site owners.” (Frequently asked questions, 1996-2008). Innovativeness and creativity that could enhance clients’ and visitors’ interest and awareness: “An on-line business strategy that depends on synergistic skill rather than scale will permit such retailers to pull ahead of both their land-based and their on-line competitor.” (Calkins et al, 2000, P.147). The use of website Creator tools is intended to create richer content value. “Website Creator also includes the unique ability to custom generate flash animation that combine visual effects with content.” (Commerce Site Building, 2005, P.121). “Most businesses using the Internet as a business tool know that the technology and use of email, e-commerce and just about everything to do with the Internet is always changing. So looking for ways to improve current uses of the Internet is necessary and makes sense.” (Improving, 2008). Competitors sites need to be carefully analyzed and good aspects could be incorporated into the company’s websites that could enhance business in future. It may be sometimes found that competitors may have an edge over Alarmlogic in certain aspects in areas of servicing, product quality or certification. In addition, they may have access to latest technologies and upgraded product lines, which may, or may not be available for Alarmlogic. Therefore, it could be useful if Alarmlogic could develop its product lines and service network to make it at par with international standards and along the lines of established competitors. This would ensure that Alarmlogic does not lose because of inferior product or lowered standards of servicing as deemed by customers. Scale of performance: One of the main features of internet has been that the volume of transactions increases substantially by its usage and leads to greater profitability. The McKinsey Quarterly report suggests, “that an on-line computer retailer, for example, whose sales expand to $1 billion a year from $100 million, moves from a loss of 3 percent return on sales to a profit of 9 percent.” (The McKinsey Quarterly, 2000). Thus, it could be said that by use of the above strategies, Alarmlogic could substantially improve its market standing substantially in the years to come and would be on the fast track of sustained growth. WORD COUNT 2243 words Bibliography Calkins, John D., Farello, Michael J., & Smith Shi, Christiana, (2000). Electronic Commerce, from Retailing to E-Tailing. P.140. Calkins, John D., Farello, Michael J., & Smith Shi, Christiana, (2000). Electronic Commerce, from Retailing to E-Tailing. P.145. Calkins, John D., Farello, Michael J., & Smith Shi, Christiana, (2000). Electronic Commerce, from Retailing to E-Tailing. P.147. Commerce Site Building: PC Magazine. (2005). P.121. Frequently Asked Questions: What are the Benefits of Participating in the Associates Program?. (1996-2008). [Online]. amazon.com. Last accessed 26 May 2008 at: http://affiliate-program.amazon.com/gp/associates/join/faq.html/ref=amb_link_517882_5/002-4786467-6592853?pf_rd_m=ATVPDKIKX0DER&pf_rd_s=assoc-center-1&pf_rd_r=&pf_rd_t=501&pf_rd_p=&pf_rd_i=assoc_join_menu Improving. (2008). [Online]. E-business guide. Last accessed 26 May 2008 at: http://www.e-businessguide.gov.au/improving The McKinsey Quarterly. (2000). No.1. P.142. The McKinsey Quarterly. (2000). No.1. A New Economies of E Buying. Read More