E-commerce security and payment system
The sources related to the weekly portfolio are relevant. This week topic is based on analyzing the element which is required to build an e-commerce presence. It is require making a successful business. In order to get better idea related to the building an e-commerce presence are considered its target audiences, intended market space, strategic analysis and development of project timeline (Lu, Fan and Zhou 2016). The business as well as revenue models are determined to generate its revenue as well as making of project profit. The project is based on implementation of e-commerce system into the organization which helps to deliver the customer’s services as well as goods at the right time. The target audiences are defined by breaking into demographics, digital usage as well as behavior of the customers. After targeting the audiences, it is required to satisfy them. The customer satisfaction is mostly required into the business to create an e-commerce system. The first step required to write an e-business plan is to decide the experience the user has into this field. The e-commerce building work is based on website goals. Second is to decide on the products and services that the user is going to offer. A SWOT analysis is also done to standardize the business and understand the business requirements (Wang, Wang and Liu 2016). From SWOT analysis, it is analyzed that strengths of the e-commerce system are easier navigation, growth into customer base and better social strategies. Weaknesses are lack of financial as well as human resources for the startup sites. Opportunities are ability to address the market, potential to develop the e-commerce sites and threats are rapid pace into technological development and low cost for market entry.
A higher satisfaction level of the customers reduces risks related to purchasing from the online platform and it will result into increase of product demand into the market. Communication is also required to build an e-commerce presence as the shoppers are to interact with each other through online mode. It provides a higher value to the brand value of products and services. Proper trust is also required among the customers as it is an online mode of transactions and online payments are done for the ordered products. Various tools are also used to build the system such as build of the scratch (HTML, SQL and database), use of packaged site building tools and use prebuilt templates. The decision regarding the building of the website has many risks (Li and Karahanna 2015). The complexities into the features are shopping carts, authentication related to the credit card, processing of order and cost which are involved. The phases which are followed to implement of e-business systems are planning, development of website, web implementation, plan related to social media and mobile plan. Through these phases, e-commerce is moved from the desktop activities on web towards the mobile. There are four types off e-commerce presence which are possible into the organization such as social, offline, email as well as website. Those platforms are required to address when building of e-commerce system.
E-commerce business strategies
The academic sources are taken from relevant and reliable sources where the authors analyze the e-commerce security and payment methods which are used into the e-commerce system. The articles, taken for this weekly portfolio provides particular details on the important of e-commerce security. Cyber security is a key feature of the electronic commerce. With no use of this protocol, the retailers are putting their customers at high risks for the payment fraud. The stores are in risk of e-commerce security risks because of insufficient internal safety (Abadir, Schock and Maffett 2015). The sources provide a definition of e-commerce security as protection of the e-commerce assets from the unauthorized access and alternations. The authors analyzed the dimensions of e-commerce security. Integrity is required to make sure that information are sent and received are not altered by the unauthorized parties. Authenticity is required to identify recognition of the person with whom to deal with the internet. Confidentiality of the data is also required to authorize the data which are transferred to others by online mode. Encryption of data is needed where the information are encrypted as well as decrypted by the authorized users (Rutherford et al. 2016). There are three digital measures which are taken to make sure about the security of payment methods. Encryption is effective method to safe data as being transformed over network. The sender of information are encrypted the data with secret data and receiver can able to decrypt the data with same and various secret code. Digital signature is making sure about authenticity of data and it is e-signature authenticated throughout encryption. Security certificates are innovative for the digital id which is being used for verification of individual identity.
The e-commerce payment system is being facilitated of acceptance of the electronic payment for the online transactions. The e-commerce payment system is increasing because of widespread usage of the internet based on the shopping. The payment is done by use of credit card, debit card, net banking and others as online payment methods. Credit card is a method where it needs to use of card which is issue by the bank to cardholder to make payment online. Debit card is a transactional method where the amount of order is deducted from the back account to pay (Wankmueller 2015). Net banking is an electronic payment method which enables the customers of bank to conduct the transactions through website of the financial bank. The e-commerce payment system is facilitated of accepting the electronic payment for the purpose of online transactions. The phases related to e-commerce payment are buying phase, paying phase, exchanging phase and transferring phase. Due to increase of the e-commerce activities over the internet, it raises concerns into the security as well as privacy of the customers. It is provided basic framework to protect the customers and the online transactions. From the article, it is articulated that there are chances of loss of customers when any kind of fraud are occurred into the payment processes. The payment system is a method to make the transactions and paying for the goods as well as services throughout electronic medium.
The articles selected based on the weekly portfolio topic are all peer reviewed. The sources taken for this topic are highlighting on the points on strategies required to employ the e-commerce business to become competitive and operative into the market. Strategy is related to how the store is planning to achieve of its organizational goals as well as improve position into the market. The strategies help the business to reach their target customers. E-commerce is defined and designed the site to reach the target audiences with specific interest. Technology is require to capture the interest of the customers, generate of production selection and experience related to shopping (Veit et al. 2014). An e-commerce store is required to have responsive web design; therefore the customers are expected to get mobile friendly sites. The businesses those have mobile friendly website are making sales over those which have nothing. Strategies which are used for the e-commerce system are, increase into e-commerce search usability, use of good product descriptions, and personalize the home page, focus on unique content, and optimize functionality of shopping cart.
The first strategy is based on organizing the website for two groups of people like visitors those know what they buy and visitors those want to browse. Through the search capability, the customers can know what they are looking for into the website to get right information. Second strategy is based on good product descriptions which include off beautiful product image and picture to attract potential customers (Gregory, Ngo and Karavdic 2017). The third strategy is personalizing the home page which records view of customers and track how many times the customer visits the particular site. The fourth strategy is that with content strategy implementation, the right way to value the customers are providing value to the customers. In order to prevent abandon of customers through the shopping carts, there is required of proper functionality of shopping cart. Testing of various shopping options reduce the abandonment of the cart. Online e-commerce business is not only benefited from the use of words, by use of attractive photos and videos on the products to share of information to customers. Sites like You Tube gains popularity to make any business functions for creating own channels (Akter and Wamba 2016). Social media is a new tool to offer opportunities for the e-commerce businesses to reach the customers.
The e-commerce business is required to get know about the competition into the market that would provide better shopping experiences for the customers. The customers can order the products from the site where they will get it with low price, therefore if the business organization provides low price product to the customers, then it helps to make a competitive advantage in marketplace. Customer feedback is required to improve the business when the business would make changes as per the feedback (Veit et al. 2014). The success factors of e-commerce are customer services, conversion rate and retention level of the customers. The identified strategies provide huge effect on the business to gain profitability.
The academic sources are relevant and reliable sources for the learning purposes and add knowledge base to selected study area. The articles which are selected are relevant to the weekly portfolio topic. The authors are doing various searches related to e-commerce marketing and advertising. A clear definition of e-commerce marketing is provided into the articles. E-commerce marketing is a process to drive the sales by raising awareness about the online store brand as well as offerings of products (Turban et al. 2015). Different channels are mentioned for the e-commerce marketing and advertising which are mainly used to advertise the products and services through online mode. Pay-per-click advertising, when there is effective running of campaigns on keywords used to create the ads. Search engine marketing is paid advertising campaigns where the retailers describe paid efforts. It is used to explain efforts on Ad words platform on the search engines. E-commerce advertising is consisted of both online and offline mode that drives traffic on the online store (Khoo and Xu 2015). Common examples are included of Google Ad Words, social media advertising such as Facebook. Development of e-commerce marketing is focused on three objectives such as helping visitors to find the website, turning them into customers and enhancement of the usability of website. Effective strategic marketing helps to attract visitors to the website. Repeated customers are being earned through use of customer services.
In order to create public awareness about the product and make profit, Smartphone applications are used as one of the channel to advertise the products and services among the public. As per the author, there is huge possible to develop of usage of Smartphone applications to improve the revenue base. It brings down administration cost, personal cost that is sources for the competitive advantage into the marketplace. Benefits of e-commerce marketing by use of mobile devices are huge as most of the audiences are use of Smartphone to search for the products in e-commerce site (Tonnison and Tonnison 2017). It is interactive with features as sharing of mobile devices are enormous. The benefit brings notice to the customer’s products are promotional sales and reduction of the communicational cost. The major marketing and advertising tool is website which helps to establish relationship with the customers. Advertising allows the firms to pay for the search engines. E-mail marketing is send emails directly to the interested users and proven for effective forms of the marketing communications. Social marketing as well as advertising is involved with use of social graph for communication of the brand images, directly to promote the sales products in addition to services. The marketing technologies which are required for the online marketing are website, SEO, social media, content marketing and Paid Ads (Turban et al. 2015). The benefits of online marketing are that by marketing on internet, it overcomes with distance barriers. There is selling of goods at any part of country without setting the local outlets, and widen the target markets. The marketing products on internet are cost less than marketing throughout the physical retail outlet.
The sources are taken from the published international journals based on the weekly topic. The traditional online marketing is type of promotion and advertising which is used by the company to get a success rate. The methods included are print of advertisements, electronic print ads over the internet. Through this medium, it is easier to reach the local audiences like radio ads play in one location and audiences can hear from other location. Social marketing is going directly with the social media such as Facebook, Instagram and Twitter. With use of this marketing, there is connection with the Smartphone’s, which is huge piece of social pie. In local marketing, as the Smartphone are popular, there have a huge effect on the local business (Gulbahar and Yildirim 2015). Each of the retail stores has transportation as well as personal services that are being shift because of precision of local search results as the users are able to search for particular radius. The study across the countries is related to how people in various geographical locations are reacted and responded to same type of technology. There is connection among social, mobile as well as local marketing as it is required for the marketers as it leads the customers with the purchase of products and services. The objectives of social marketing are increase exposure and encourage possible customers to make a higher quality of images and videos of the products (Lamberton and Stephen 2016). It will strength the brand along with drive the sales of products.
The store based retailers are found that it is critical to survive as there is beginning of the social media platforms with use of the social mobile devices connected over the internet. The businesses are leveraged of technology to reach the target customers through social, local and mobile channels. The factors which describe that social, local and mobile marketing is different from traditional online marketing such as accessibility-the users can access to the internet on mobile devices and compare the products by means of social interaction as well as social networking. There is encouragement of human interactions with the customers- mobile devices create of local and social marketing (Jayaram, Manrai and Manrai 2015). It is used by customers to find local merchants and to the consumers regarding the offers. As the mobile devices are powerful, therefore it is required to access of Facebook as well as other social sites. Adoption of the mobile devices is used to find the local merchants and they can alert the customers for specified offers. The retail industry is getting worldwide as well as growing faster. There is an increase of technological advancements which affects the retail space. Social, local and mobile marketing (SO-LO-MO) is stated into the article which is used for various geographical locations (Gulbahar and Yildirim 2015). The marketers are approaching customers of SoLoMo with new mindset with various opportunities. The customers are looking to the brands as primary source of information. In current era of time, the customers are defined by mobility. In local marketing, the customers are getting social where they are and in social marketing, the customers are all social.
The articles which are taken based on the selected weekly topic is peer reviewed and relevant to the course study. Internet is considered as primary driver of the technical applications to provide an online businesses. Internet is one of link which connected the industrial revolution. The articles are provided with e-retailing concepts which is involved with selling of goods as well as services through use of internet. It is included with both business-to-business and business-to-consumers sales of the products along with services (Jiang, Jun and Yang 2016). It is done through subscriptions to the website content and advertising. E-retailing is required the business to tailor the traditional businesses models towards the internet and users. E-retailing is required of various products and services to display, provide shoppers with personal feel and quality for offerings with no require to be present into the store. E-retaining and services are required of stronger distribution such that the customers are not waiting for longer periods of time to get products and services which they are purchased (Fang et al. 2014). Transparency into the business is required such that the customers can trust and become loyal towards the company’s operations. As the customers are continued to buy from business, therefore there is an increase into revenue.
E-retailing traces shopping behavior of the customers while providing valuable insights for spending habits that leads to increase into business revenue. The customers can shop from comfort of the homes at time rather than present physically at the store. Through this, the customers can save time along with efforts. There are wide range of products which are available online, therefore a comparison is to be made before purchasing (Kurnia et al. 2015). The customers can shop anytime as well as anywhere. There are huge discounts which are availed while making shopping through use of online channels. There are huge discounts which are avail while doing of online shopping. There are details which are provided about the product online, helps the customers to make of purchase decisions. Electronic retailing is offering easier payment terms like payment on delivery which instigate the customers to do online shopping. Those products are available online which are unique and should be sell at lower prices. The products and services are required of customer’s research. The items are hard and it is also hard to find out. A better relationship is established among the customer demand and their satisfaction level (Jiang, Jun and Yang 2016). It is implied that satisfaction of customer with the products and services are offered by the e-retailer, therefore there are high chances to spend on the products. Apart from all this, a relationship is established among quality of service, satisfaction and customer loyalty. There is an increase into online spending by the customers which will influence larger extent by the factors. When the organization are provided of better quality products to the customers, then there are high chances to gain of profitability in market in addition to increase of customer satisfaction level.
References
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Jiang, L., Jun, M. and Yang, Z., 2016. Customer-perceived value and loyalty: how do key service quality dimensions matter in the context of B2C e-commerce?. Service Business, 10(2), pp.301-317.
Kurnia, S., Choudrie, J., Mahbubur, R.M. and Alzougool, B., 2015. E-commerce technology adoption: A Malaysian grocery SME retail sector study. Journal of Business Research, 68(9), pp.1906-1918.
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Abadir, E.E., Schock, R. and Maffett, I.D., APPMOBI IPLC, INC., 2015. Secure distributed single action payment system. U.S. Patent 9,141,945.
Rutherford, B., Dagher, A., Wiseman, M., Paie, D.J.M.C., Rans, J.P.E., Ates, F. and Wankmueller, J., Mastercard International Inc, 2016. Customer authentication in E-commerce transactions. U.S. Patent 9,514,458.
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