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STRATEGIC MANAGEMENT - Essay Example

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University | Word Limit 3000 Date Assignment Topic: Strategies for E-Commerce Candidate number: Candidate Statement I hereby declare that this assignment is my own work and any use of materials from other sources has been referenced accordingly…
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STRATEGIC MANAGEMENT
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Download file to see previous pages Tutor Signature: Date: Table of Contents Introduction 4 Theoretical Background 5 Advantages and Disadvantages of E-commerce 6 E-business strategies 8 Implementation Challenges 12 Conclusion 13 References 15 Introduction With the evolution of technology and introduction of the Internet, there is great change in the business environment. Every organization whether it is large or small scale, is trying to adopt and incorporate in business models based on technology into their system. This adoption of web based technology in the business lead to the emergence of E-commerce. In the current business scenario, e-commerce playing a crucial role and changed the way business is conducted around the globe. E-commerce is forcing the companies to find the new ways of expanding their market in which they compete (Plant 2000). To compete and sustain in the new markets, it become more crucial for the organization to not only attract the customers, but also to retain by tailoring the products and services according to their needs and demand. Apart from redefining the products and services, organizations are also forced to restructure their business processes in order to deliver the products and services more effectively and efficiently (Reynolds 2004). ...
In this report two business models has been used- McCarthy’s four marketing mix model and Porter’s five forces model to identify the strategies for organizations which want to enter in the field of e-commerce. The overall goal of this study is provide significant insights onto the challenges and advantages of e-commerce and business strategies. Theoretical Background (a) McCarthy’s Four Marketing Mix Model As per the McCarthy, a firm defines its marketing strategies after identifying the target market for its products or services. On the basis of the target market, organization then develops a marketing mix is a combination of product, price, promotion, and place designed according to the target market with the aim of enhancing the sales (Blythe 2009). The unique marketing mix allows the organization to sustain and compete more effectively, thus ensures the profitability and sustainability. For example, by offering different products with an attractive sales promotion and effective logistics, a firm can increase its sales and revenues. This concept is also applicable on the e-commerce, and organizations working in this field are required to develop strategies for their target market by taking the unique nature of online marketing into the consideration (Napier et al 2006). (b) Porter’s Five Competitive Forces Model This five competitive forces model of Porter’s says that every organization develop its business strategies with the aim of gaining competitive advantage over its competitors. Organization can develop its strategies by focusing on five primary forces: (a) threat of new entrants, (b) rivalry among existing firms within an industry, (c) the ...Download file to see next pagesRead More
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