Background of the Study
The report explains the various theoretical as well as the practical knowledge about the design which is prepared in the organization so that the application of e-business within the organization can be determined. To understand the theoretical and practical approach, a retail company named JB Hi-If Limited has been chosen in order to identify and understand the needs of the online retail business. The various strategy models which are being used and applied in the economy will also be identified. Another part of the reading will depict various strategies related to e-commerce and their implication in the business. The last part of the report also demonstrates about the capacity with the aspects of the professional reports that are used so that the proper understanding of same can be determined. Various recommendations related to it are also highlighted as it will enable the organization in taking the actions accordingly so that the improvements in the current systems can be made and the actions for the future can be determined.
JB Hi-Fi Limited is a world-class retail service providing company and obtains its own retail business through online media. Nowadays online businesses totally rely on social media software and business applications. Use of these applications helps the businesses to contact customers directly. E-business, E-marketing and e-commerce activities have become the future of the organisation. Online business can become more effective if applications are to be made as per companies plus customers’ requirements. Online startups basically assume that going with online business would help them increasing more profit but it will increase the capacity of leverage to handle more data on projects.
Designing business application and service activities effectively will create a dilemma and all things are to be related to competing as per demands. JB Hi-Fi Limited basically operates and manages lots of collaboration for a marketing campaign and designing websites, websites designing, content delivery, social media promotional activities have been becoming very supportive in managing marketing activity for business services, but they need proper corporations with team and technology.
As a business, we have to invest in building our capacity (or acquire new talent) to be able to leverage data to discuss, develop, and implement a marketing strategy for our clients. Now, more than ever, it’s easier to miss opportunities and emerging trends (and ride the bandwagon) to create engaging content for our clients
E-commerce Business model has two major categories:
- Business to business (B2B): B2B concept clarifies activities related to selling services and products business to business (other).
- Business to customers (B2C): Selling products directly to the customer online.
E-commerce Strategies and Models
In the case of JB Hi-Fi Limited, the company needs to make effective strategies and plans to execute them on time. Team members need to believe in e-partnership and e-commerce terms and guide in order to reach to their customers and meet their requirements. JBH Company keeps their culture intact by improving and hiring better business processes. Develop a marketing plan that defines your target client/customer. A strategic approach to marketing tends to pay off more than just paying for a bunch of marketing campaigns.
Social Media is a great tool to get the word out but you need to support it with content and resources that provide legitimacy to your product or service. The average consumer these days seems to check on reviews for everything before purchasing anything for that matter (Clarke, 2012). Selling and buying of websites are the most trending topics that you will come across the internet. A lot of people dealing with such business have claimed to earn higher profits (Kasemsap, 2018)
Demonstration of research skills using academic literature and integrating the ideas to the information technology issues
Any small-scale business has the ability to make capital returns around 20% – 30% of the amount you have invested. Buying a website instead of a physical store can help investor gain profit for a long-term as the evaluation of the asset is based on its trend. Since it is a digital age; a website will give a higher ROI than a physical store (Brannon, 2017). The e-business Assets portal enables you to choose an ideal website that you would like to run. Hence, one should buy only that website which is doing well with excellent traffic on the website. The EBA website consists of established businesses ranging from multiple industries with consistent traffic on the website. If one is planning to run an online business, must remember that it’s a lot of effort to get traction and beat the competitors in the industry (Trang, et. al., 2016).
A realistic goal will help you become successful in a long run. Ex: e-bay, Amazon, flipchart, Alabama, ticket booking websites (in their case, suppliers upload their goods and buyers pay for delivery completely online) Ex: Factory automation, optimization of the process flow, supply chain management. JBH Company should make their clear target to achieve their aim and reach a potential customer.
1. Virtual buying
From browsing through products to the final act of the purchase, customers of e-commerce stores go through various processes of comparing and evaluating. AI is extremely helpful in these situations where customers need and crave information to justify their purchase. AI powers virtual assistants, or bots and apps that provide customers with information to help them during the buying process.
Implications and Recommendations for JB Hi-Fi Limited
2. Customer conversation
A meaningful conversation is crucial to making a strong connection with any customer. With a large number of people being entertained by your reps, it’s hard to expect them to always be on top of their game. Fortunately, AI exists to help them do better (Koo, et. al., 2016). Voice recognition, natural language processing and chatbots are AI innovations in customer experience that can help companies ensure that every conversation is relevant and responsive to the client’s needs (Mazzarol, 2015).
While making marketing plans, it is essential to define targets to the customers. A strategic approach will be helpful in paying off marketing pay which leads to handling a bunch of marketing and promotional activities. Selling buying on online business over social media would support the content and resources in order to provide legitimacy related to product and services.
Writing a professional report career development report may contain flowing things such as considerable points, recommendations and valid information to prepare for the career in information technology and online business. Such kinds of the report are a continual process in order to manage learning, professional tactics, leisure and progress through the work. It is known as career planning and development services which help the people to make immediate decisions regarding technology, training and profession. Professional report for online business and professional career mat opportune you to meet all your needs and make effective contacts which help in work in future (Turban, et. al., 2017).
Capacity to write professional report helps in getting proper knowledge and information about business and career. Organizations will have to expand our team and bring in people who have a background in data science and practical experience (or at least in-depth understanding) of leveraging data. The business report helps the JBH Company to believe in e-commerce websites and making their easy use in an effective manner (Chatzoglou & Chatzoudes, 2016). There is just a scant few businesses today that does not have a website to bring customers to them or to actually conduct e-commerce sales directly over the Internet. But in this seemingly egalitarian market, giant players like Google, Amazon and eBay have emerged and are using their massive reach and deep pockets to crush more and more small businesses.
E-enabled business is the application of information and communication technologies (ICT) in support of some of the activities of business which will spread their reachability.
Ex: Airlines, IRCTC, Flipkart’s retail (these are using technology but not completely automating the process) (N7Z et. al., 2016). With JB HI-FI Limited, coming along (for whom social media and apps are a primary form of interaction with businesses online), e-business and/ e-marketing are becoming the future of businesses. Eventually becoming just content producers can be a great pleasure if people do not keep up with the increasingly data-driven marketing needs of our clients. They believe that goes for any more marketing business /agency in the industry. If they don’t develop the capacity to leverage more data, they’ll just be left with handing such projects (Sharpley, 2018). And they are seeing new start ups cropping up here, and most of them are solely building their business on writing content. They will end up in this dilemma. And they’ll primarily be competing on price. Because creating and managing marketing campaigns require a lot of collaboration between teams (web design, content, graphics, seo). Without people who specialize in analyzing and leveraging data on board, could be read. Develop a marketing plan that defines your target client/customer. A strategic approach to marketing tends to pay off more then just paying for a bunch of marketing campaigns. Social Media is a great tool to get the word out but you need to support it with content and resources that provide legitimacy to your product or service.
Professional Reports and Marketing Plans in E-business
Easy for the customer: – Sometimes, customer need is different then what we are displaying them but if they have e-commerce website they can filter it out what they actually need it will be more easy for the customer to get what they want.
Increase sales: With effective e-commerce website that can attract customer, will give you more business physically as well as could be done by some extra efforts to explore business and make profits effectively (Soto-Acosta, et. al., 2016).
Personnel growth It gives you growth at a personal level also, by satisfying customer need you can increase your personal and also business growth.
Conclusion and Recommendation
From all the reports it can be concluded that the Vodafone shop has its operations all over the world which has enabled it to capture the market so that the profitability of the organization can be increased and enhanced. With this, the skills which are required to run the store are also reported in the report as it will enable to achieve organizational objectives so that the overall growth of organization can be achieved in the external market. It is recommended to the organization to design the policies according to the needs and demands of the customers so that the growth of organization can be increased and the sustainability be achieved by attracting a large number of buyers to purchase the product.
References
Brannon, J. (2017) Mixing methods: Qualitative and quantitative research. Germany: Routledge.
Chatzoglou, P., & Chatzoudes, D. (2016) Factors affecting e-business adoption in SMEs: an empirical research, Journal of Enterprise Information Management, 29(3), pp.327-358.
Christou, & Gretzel, U. (2012) Social Media in Travel, Tourism and Hospitality: Theory, Practice and Cases. UK: Ashgate.
Clarke, J. R. (2012). Marketing in Travel and Tourism. Germany: Routledge.
Kasemsap, K. (2018) The importance of electronic commerce in modern business, In Encyclopedia of Information Science and Technology, Fourth Edition, pp. 2791-2801.
Mazzarol, T. (2015) SMEs engagement with e-commerce, e-business and e-marketing. Small enterprise research, 22(1), PP.79-90.
N7Z ansuch as d other companyShin, S., Gretzel, U., Hunter, W.C. and Chung, N. (2016) Conceptualization of smart tourism destination competitiveness. Asia Pacific Journal of Information Systems, 26(4).
Sharpley, R. (2018). Tourism, tourists and society. Germany: Routledge.
Sigala, M. and Gretzel, U. eds. (2017) Advances in Social Media for Travel, Tourism and Hospitality: New Perspectives, Practice and Cases. Germany: Routledge.
Soto-Acosta, P., Popa, S., & Palacios-Marqués, D. (2016) E-business, organizational innovation and firm performance in manufacturing SMEs: an empirical study in Spain, Technological and Economic Development of Economy, 22(6), pp.885-904
Trang, S.T.N., Zander, S., de Visser, B. and Kolbe, L.M. (2016) Towards an importance–performance analysis of factors affecting e-business diffusion in the wood industry. Journal of Cleaner Production, 110, pp.121-131.
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