In E-Commerce in Developing Nations Free-Samples for Students

Questions: 1. Define the role of using Electronic Commerce on the Business Expansion. 2. Recognize the types of Business Modes. 3. Recognize the related Revenue Model in the selected Website. 4. Recognize the Implemented Business Strategies in the selected website. 5. Describe the Development of secure Electronic transactions on the Internet. 6. Explain privacy policies, online auctions and any potential legal or ethical issues. 7. Describe the ways that the Website Manages the Customer relationship. Answers: Introduction The report makes a detailed analysis of the importance of e-commerce and how it is growing at a rapid pace. The e-commerce company ASOS has been very successful in attracting the customers and the role that e-commerce plays, has been discussed in the report. The business model and revenue model of the company have been analyzed and the customer relationship management of ASOS helped the company to make a brand loyalty in this competitive market. The significant role of e-commerce has been discussed in detail in the report. 1.Role of e-commerce E-commerce is providing a lot of benefits to the online retail companies (Turban, Strauss and Lai, 2016). It has become a preferred way of shopping by many of the consumers, as it is very convenient and easy. They are able to get the details and descriptions of the products from the online catalogue. The product datasheet is important for the customers. E-commerce also has the ability to attract new customers through search engine visibility. The customers become aware about the terms and conditions that are linked with the purchase of any product (Peltola, Vainio and Nieminen, 2015). It also helps the retail companies by reducing the cost of inventory management. The company can trace the buying habit of the consumers. This method is also very efficient for effective business transactions. E-commerce also helps the customers to sell their own products. E-commerce is active for 24X7 and people can access the products at any point of time (Strauss, 2016). ASOS is benefitted by e-comme rce and the company has been successful in making a presence in the minds of the customers. 2.Business model ASOS is a private company and profit maximization is their only motive on the basis of their operational activities. The company deals with the demand of the customers in various ways like providing them products over the website. ASOS has a wide business spectrum having relationships with the suppliers, manufacturers, customers and vendors. There is an established relationship between the middle level managers and the higher management. The business model of ASOS includes the basic functions of the business like supply chain management, ordering of new materials, procurement of the items and proper management of the inventory. The business model of the company aims at improving the technological advancement by enhancing their presence in the online market. The online retail business entity is planning to foster their product range. The stakeholders of the company are shareholders, employees, investors, managers and suppliers. A good relation with the government has enabled the compa ny to make their business flows even smoother. 3.Revenue model ASOS has a very effective revenue model in Australia and other countries as well. The company uses a 360-degree marketing strategy for the sale of its products. The different platforms are mobile platforms, subscription fees and print magazines. There has been about 5.4 million downloads as far as the company is concerned. Around 50 to 60 % traffic comes from the mobile platform, to be used by the customers. Maximum of the orders are placed on the mobile platforms as world is becoming more digital. ASOS has a provision for marketplace where there is a subscription fee and a commission. The retail company is also having a print magazine on their own which they send to a huge number of women consumers per month. They have even launched a magazine for the men. ASOS has launched mobile apps so that it becomes easier for the customers to have a look at their products before making a purchase. The company is also using the social media platforms like Facebook and Twitter and has upgraded t he searching functionalities. Nearly all the posts that the company gives on the Facebook promote new ranges and products and earn some likes as well as comments. 4.Implemented business strategies The business strategies of ASOS include ethical trade, sustainable fashion, community and sustainable business. ASOS has built up customer relationship with through social media like Facebook and Twitter. ASOS has also sponsored many movies to drive the sales in different parts of the world. They have made their websites decorative that can attract the attention of the customers. The company has made a social linkage of the online orders with the social network itself. ASOS has been successful in making a global expansion of the company and mainly targeted the young generation through its apparel having low cost and high quality. 5.Development of secure electronic transactions Secure Electronic Transactions (SET) is generally designed to address the security issues of the electronic payment systems that have hindered the growth of e-commerce (Agarwal and Wu, 2015). It is a security protocol for any electronic payment system that makes proper utilization of PKI in order to address the e-commerce security and privacy issues. The strengths of the SET architecture involves authentication, limited access of the merchant, immediate verification, and stronger encryption (Anciaux, et al., 2014). Authentication Any person getting involved in taking a digital signature like cardholder, bank and merchant need to get an authentication from the Certificate Authority (CA) (Chaudhary, Ahmad and Rizvi, 2014). Limited Access of the merchant A merchant is not having any access to the credit card information that makes the SET much safer. Limited access This defines the customers privacy by not providing them information about the order to the credit card issuer. Immediate verification This helps in the verification of the customers authenticity and availability of credit of the merchant. He can fulfill the orders through the mitigation of risks. Encryption The credit card information is having a fixed length and requires stronger encryption (Memon, 2014). The encrypted orders and the credit card information are done separately. 6.Privacy policies The auction sites are able to draw millions of buyers and sellers every day which creates a virtual market (Sundaresan, et al., 2015). The companies doing their business online have the responsibilities to make the customers feel secured while they provide their personal information on the internet. This responsibility is directly linked with the legal and ethical issues. The e-commerce companies must strictly value the privacy of the customers for their own goodwill. The companies need to have a look as to how to form the contracts, creation of the privacy policies and database protection (Adelola, Dawson and Batmaz, 2015). There can be issues regarding the copyright and trademark. It is necessary to ensure that the legal rules is not able to undermine the copyrights and other related rights. There are numerous online terms and conditions that the companies need to take into account. They should record the retention obligation, ensure proper contracts online, laws to protect the for eign data protection and regulation of the exchange control (Crabtree and Mortier, 2016). 7.Ways to manage customer relationships The customer relationship management of ASOS is very well established. The company has a very attractive product as well as service proposition. There has been a wide range of products of ASOS that are very appealing. The prices of the products are very competitive with low price and high quality. The services on the other hand have very convenient proposition like free delivery, delivery of the products within five to ten days and free return. The company has the opportunity to create a market place where there will be opportunities for the customers in selling their own items and creations. ASOS has created good relationships with the customers as it has become the most liked retail fashion brand on Facebook. ASOS have become the second most visited apparel retailer in the whole world. ASOS has an international network due to the largest international selling of the apparel products through online. The company website of ASOS displays the products for the young generation like 20 t o 30 years of age. ASOS put more focus on the women apparel with more grooming segment. The facebook page of the company contains a page to help the customers and an official page for the worldwide customers. It also has five twitter pages to remain connected with the prospective customers like a here to help page, a discount page, one career page and a worldwide official page. Recommendations Online business can be improved by several ways that have been recommended. The company can offer just one product on the home page though they are having a variety of products. This increases the focus of the consumers on one product. The company can reposition their opt-in offers to boost the opt-ins and create a list of the loyal customers (Hutchinson, 2015). This may help ASOS to keep in touch with the customers on a regular basis. The retail company can display different benefits in the headline to catch the attention of the consumers (Jimnez-Zarco, Martnez-Ruiz and Izquierdo-Yusta, 2014). This can have a huge impact on the sales of the company. A successful headline can have an enormous effect on the customers by highlighting the problems of the customers. The e-commerce company must enhance the credibility of the company in the minds of the customers so that they become comfortable in purchasing the products. Conclusion The report has inferred that ecommerce companies are growing at a rapid pace all over the world. The e-commerce company ASOS has been very successful in creating a brand name and maintaining brand loyalty in the competitive market through effective customer relationship management. 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