What is all the Hype About?
Integration into the business cycle – A Web site that is well-integrated into the business cycle can offer customers more information Bangkok than previously available. This is what FedEx did when they introduced on-line package tracking – FedEx made far more information available to the customer. For example, if Dell tracks each computer through the manufacturing and shipping process, customers can see exactly where their order is at any time. People can shop in different ways. Traditional mail order companies introduced the concept of shopping from home in your pajamas, and e-commerce offers this same luxury.
You also need a way to accept money. That gets into the whole area of billing and collections. If you are at Wal-Mart you know that you can use cash, check or credit cards to pay for products. Business-to-business transactions often use purchase orders. Many businesses do not require you to pay for the product or service at the time of delivery, and some products and services are delivered continuously (water, power, phone and pagers are like this). You need a way to deliver the product or service, often known as fulfillment.
If no one knows that your place exists, you will never sell anything. Sending out a mail order catalog is another. At Wal-Mart this is handled by the check out line. There is also advertising, word of mouth and even the guy in a chicken suit who stands by the road waving at passing cars. In a mail order company the orders come in by mail or phone and are processed by employees of the company. You need a way to accept orders. Locating your place in a busy shopping center is one way to get traffic.
This gives Dell a competitive advantage that lets it increase its market share. There is also a widely held belief that once a customer starts working with a vendor, it is much easier to keep that customer than it is to bring in new customers. These three trends are the main drivers behind the e-commerce buzz. So if you can build brand loyalty for a web site early, it gives you an advantage over other vendors who try to enter the market later. Dell implemented its Web site very early, and that presumably gives it an advantage over the competition.
New features that web sites offer include the ability to build an order over several days, configure products and see actual prices, easily build complicated custom orders, compare prices between multiple vendors easily and search large catalogs easily. For example, Amazon sells millions of books. Larger catalogs – A company can build a catalog on the web that would never fit in an ordinary mailbox. Imagine trying to fit all of the information available in Amazon’s database into a paper catalog!
A way to accept money – normally a merchant account handling credit card payments. In the case of software and information, however, fulfillment can occur over the Web through a file download mechanism. Or you may use more traditional billing techniques either online or through the mail. In addition, there is often a strong desire to integrate other business functions or practices into the e-commerce offering. An extremely simple example — you might want to be able to show the customer the exact status of an order. A fulfillment facility to ship products to customers (often outsource-able). This piece requires a secure ordering page and a connection to a bank. There is a huge amount of hype that surrounds e-commerce.
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