Tools and Techniques for a Successful E-Commerce Presence

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Key Topics

Requirement
Solution
INTRODUCTION:-
E-MARKETPLACES:-
DIFFERENCE BETWEEN E-MARKETPLACE OR PHYSICAL MARKETPLACE: -
E-MALLS: -
DIFFERENCE BETWEEN E-MALLS NAD PHYSICAL MALLS:-
E-TAILING: -
DIFFERENCE BETWEEN E-TAILING OR PHYSICAL RETAIL OUTLETS:-
TOOLS AND TECHNIQUES FOR A SUCCESSFUL E-COMMERCE PRESENCE:-
CONCLUSION: -
REFERENCES:-

Requirement

Contrast e-marketplaces, e-malls, and e-tailing. Illustrate how they are different from physical marketplaces, malls, and retail outlets. Compare the tools and techniques for a successful e-commerce presence. This assignment tests your analytical and critical thinking skills and your ability to synthesize concepts around topics.

Solution

INTRODUCTION:-

As we all know that today scenario is completely dependent on e-commerce. E-commerce refers to doing business by using electric resources. So, because of e-commerce all the physical outlets lost their profits, and they are not able to attract large customers for buying their products. In this assignment, we will study how e-commerce business is different from physical marketplaces, malls, and other retail outlets.

E-MARKETPLACES:-

E-marketplaces can be defined in the following manner:-

It is a marketplace which is open to a large number of buyers and a large number of sellers.
E-marketplaces are considered as a platform for trading because e-market itself does not buy or sell its products or services traded on the platform. (Fan,2013)
It is necessary for the E- marketplace that it has minimum one function related to trading.

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DIFFERENCE BETWEEN E-MARKETPLACE OR PHYSICAL MARKETPLACE: -

The main important difference between both types of a market is that one market is related to the personal transaction where the seller or the buyer firstly make a discussion on the transactions while the E- marketplace is considered very impersonal because there is no direct conversation between the seller or buyer. In E- marketplace consumers only do targeted searches, because they exactly know what they want. While in the physical marketplace peoples entered without a specific purchase motive. In addition owners of E- marketplaces adopted the format of Auction- Style for the products which have high demand in the market, but on the other hand at physical marketplaces owners follow price haggling method.

E-MALLS: -

E-malls is a combination of various electric-shops. The operator of the e-malls does not have an interest in operating a particular business; they want to operate on the large level. The operator of the e-malls wants to earn a higher profit by encouraging high sales of the product. (Bahaddad,2012) For encouraging the additional sales e- malls gives the facility to their customers that they can also visit to other neighboring shops which=h enhance its sales and also enhance profit.

DIFFERENCE BETWEEN E-MALLS NAD PHYSICAL MALLS:-

E-malls gives various benefits to their consumers. Due to an existence of E-mall consumers need not drive more. They can buy goods from their homes. This will save the prices of gas and petrol for customers. But on the other hand, customers need to visit on physical malls for purchasing goods; this will consume more gas and time of the consumer.
In an E-mall consumer need not worry about the crowd on malls, they can buy needed goods from their home without facing any inconvenience. But in the physical mall people need to face the crowd, and they are also facing inconvenience while purchasing products.

E-TAILING: -

E-tailing is also known as E-retailing. It is the process of selling goods and services by using the internet. E-tailing is a combination of various concepts like - business to consumer or business to business for sales of services and products. (Tamimi,2016) E-tailing requires various businessman's to modify their current business style and changes it as per the current tradition which is fully based on the internet.

DIFFERENCE BETWEEN E-TAILING OR PHYSICAL RETAIL OUTLETS:-

By shopping in a physical store, consumers can touch and see the items but in an online store, products display by using pictures or graphics to attract the customer.
Online retailers deals in various cities they don’t have any geographical boundaries but a physical store only deals within a limited area.