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Paper :e-Business, , Course :BBA VIsem, , Prepaired by : Prof.Mahesh Mathad, , IV Module, Four C’s of online shopping, For many years, aspiring marketers were believed in the Four Ps of marketing:, Product, Price, Place and Promotion But in recent years, marketing experts have, replaced this old concept with a new one, the Four Cs: Convergence, Content, Management System, Collaboration and Call Center/Communication., , [1].Convergence., [2].Collaboration., [3]Content management system (CMS)., [4].Call Center / Communication., , 1.Convergence:1.Also called: convergency the act, degree, or a point of converging concurrence, of opinions, results, etc, maths the property or manner of approaching a finite limit, esp of an infinite, seriesconditional convergence the combining of different forms of electronic, technology, such as data processing and word processing converging into, information processing., Also called: convergent evolution the evolutionary development of a superficial, resemblance between unrelated animals that occupy a similar environment, as in, the evolution of wings in birds and bats, meteorol an accumulation of air in a region that has a greater inflow than, outflow of air, often giving rise to vertical air currentsSee also Intertropical, Convergence Zone, the turning of the eyes inwards in order to fixate an object nearer than that, previously being fixatedCompare divergence (def. 6), , •, , It means different-2 technology working with each other. For example, a camera, and telephone were two different gadgets. Computers were made for computing
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Paper :e-Business, , •, •, , Course :BBA VIsem, , Prepaired by : Prof.Mahesh Mathad, , work and not for other purposes, such as gaming and surfing the internet. But the, working of computers and technology gadgets now delights all users of technology., This interconnection of information technologies, media content, and computer, networks is known as media convergence., It has transformed industries, services, and practices to deliver content in new, and unique ways., For example:- Internet and electronic trade, Cell phone technology, Computerized, film activity, Streaming music and video High definition TV (HDTV, 3D, 4D)Video, game frameworks., 2., , •, •, •, •, , •, , Collaboration:-, , It’s also helpful for them to learn that other people don’t always have the same, ideas that they do., Collaboration is vital because for the rest of their lives, whether students know it, or not, they are likely to work with other people., Virtually every job needs someone at some point to communicate with someone else,, even if it's as simple as what to get for lunch as that., Practicing collaboration helps students understand how to address a problem, pitch, solutions, and decide the best course of action., , It’s also helpful for them to learn that other people don’t always have the same, ideas that they do.
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Paper :e-Business, , •, •, , Course :BBA VIsem, , Prepaired by : Prof.Mahesh Mathad, , In fact, as students practice collaboration more and more, they’ll learn a lot., This can affect students in one of two ways. First, it could discourage them since, nobody seems to agree with them that often. Second, it could embolden them, because as they know that each conversation brings something new., , 3.Content Management System (CMS):A content management system (CMS) is computer software used to manage the, creation and modification of digital content., A CMS is typically used for enterprise content management (ECM) and web content, management (WCM)., ECM typically supports multiple users in a collaborative environment by, integrating document management, digital asset management, and record retention., Alternatively, WCM is the collaborative authoring for websites and may include text, and embed graphics, photos, video, audio, maps, and program code that display content, and interact with the user. ECM typically includes a WCM function. CMS is a web, template to create your own website., The core CMS features are: indexing, search and retrieval, format management, revision, control, and management., Features may vary depending on the system application but will typically include:, •, , Intuitive indexing, search and retrieval features index all data for easy access through, search functions and allow users to search by attributes such as publication dates,, keywords or author., , •, , Format management facilitates turning scanned paper documents and legacy electronic, documents into HTML or PDF documents., Revision features allow content to be updated and edited after initial publication., Revision control also tracks any changes made to files by individuals., , •, •, , Publishing functionality allows individuals to use a template or a set of templates, approved by the organization, as well as wizards and other tools to create or modify, content., , Popular additional features may include:[5], •, , SEO-friendly URLs, , •, , Integrated and online help, including discussion boards, Group-based permission systems, , •
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Paper :e-Business, , •, , Full template support and customizable templates, , •, , Easy wizard-based install and versioning procedures, Admin panel with multiple language support, Content hierarchy with unlimited depth and size, Minimal server requirements, , •, •, •, , •, •, , Designed as per Google quality guidelines for website architecture, , •, •, , •, •, , •, , Prepaired by : Prof.Mahesh Mathad, , Integrated file managers, Integrated audit logs, Support AMP page for Google, Support schema markup., , •, , •, , Course :BBA VIsem, , A content management system (CMS) is a software application or set of related, programs that are used to create and manage digital content., CMSes are typically used for enterprise content management (ECM) and web, content management (WCM)., An ECM facilitates collaboration in the workplace by integrating document, management, digital asset management and records retention functionalities, and, providing end users with role-based access to the organization's digital assets., A WCM facilitates collaborative authoring for websites.
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Paper :e-Business, , •, •, , •, , •, , Course :BBA VIsem, , Prepaired by : Prof.Mahesh Mathad, , ECM software often includes a WCM publishing functionality, but ECM web pages, typically remain behind the organization's firewall., Both enterprise content management and web content management systems have, two components: a content management application (CMA) and a content delivery, application (CDA)., The CMA is a graphical user interface (GUI) that allows the user to control the, design, creation, modification and removal of content from a website without, needing to know anything about HTML., , The CDA component provides the back-end services that support management and, delivery of the content once it has been created in the CMA., , •, , 4. Call, , Center/Communication:-, , In today's society contact is often taken as a matter of course., Connection – Many companies consider those employees who interact with people, outside the organization to be limited to customer-facing personnel such as sales, or customer support., In the age of text-based communications eg: SMS, emails, social media, etc. it’s, never been more important for students to learn how to convey their thoughts in a, way that others can understand them., That’s because text-based communications lack tone, which is critical to, understanding the context of someone’s words. Still, even in situations where vocal, tone is available, students need to learn how to communicate effectively., That includes minimizing tangents, speaking directly to an idea, and checking other, participants to make sure they’re engaged.
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Paper :e-Business, , Course :BBA VIsem, , Prepaired by : Prof.Mahesh Mathad, , Online services, E Commerce for Service Industry, The E commerce for service Industry are explained below, E-Services, The delivery of services via the internet to consumers or other businesses can be, referred to by the generic term of e-services. There is a wide range of e-services, currently offered through the internet and these include banking, loans, stock, trading, jobs and career sites, travel, education, consultancy advice, insurance, real, estate, broker services, on-line publishing, and on-line delivery of media content, such as videos, computer games, etc. This list is by no means exhaustive and it is, growing all the time. In this lecture, we will give an overview of eservices., In order to bring some order to the discuss of these wide variety of e-services, we, organize them into the following categories, namely, 1. Web-enabling services, which were previously provided by humans in office, agencies and/or their branches. The primary purpose here is that these services, help to save time and effort for the user; bring convenience, and improve the, quality of life. In many cases, it can result in a reduced cost for the consumer., E-services that fall into this category include, o Banking, o Stock trading, o Education, In some cases, this may bring a new dimension to the original service, enhancing, and altering it. E-education is an example of this. It may also bring into the, catchments new groups of consumers of the service to whom it might not have, been previously accessible., 2. Matchmaking services. These take a need from an individual or business, customer and provide mechanisms (from providers) for matching that need., E-services that fall into this category include, o Jobs and employment sites, o Travel, o Insurance, o Loans including mortgage loans, o Real estate sales, o Brokers
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Paper :e-Business, , Course :BBA VIsem, , Prepaired by : Prof.Mahesh Mathad, , The advantage of this kind of matchmaking through the internet is that the, ability to search electronically over a wider area to satisfy the customer need, and to more precisely meet the customer need is greatly facilitated by both, computerization and communication over the internet., 3. Information-selling on the web. This group essentially sells information content, of one sort or another and includes ecommerce sites that provide on-line, publishing such as web-based newspapers, o consultancy advice, o specialized financial or other information, 4. Entertainment services. These provide internet-based access to videos, movies,, electronic games, or theme sites. This E-entertainment sector is expected to, grow rapidly in the next few years, with a convergence of TV and internet-based, technologies., 5. Specialized services such as auctions. Many different auction sites have, appeared and these are discussed further in this lecture. It is not possible to, discuss all the different eservices in this lecture and so we will briefly sample, only a few examples for each category., Web-Enabled Services, Web-enabled services include personal banking, stock trading, and education., E-banking, Security First Network Bank (SFNB;)was the first internet bank. It provides most, of the banking services on the web. Therefore, you can do your banking with your, fingers instead of your feet. Looking at e-banking, we can distinguish between twp, distinct models:, 1. Pure cyber banks, 2. Traditional banks that provide e-banking to complement their retail banking, SFNB. is a pure cyber bank, while the homepage of Bank of America illustrates, the second model., While not all banks offer the full range of services on the internet, banks in both, the mentioned groups offer a varied range of services including, 1. personal banking, 2. commercial banking for both small businesses and large corporations, 3. financial services, 4. loan application services, 5. international trade including settlement instruments, foreign exchange, transactions, etc.
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Paper :e-Business, , Course :BBA VIsem, , Prepaired by : Prof.Mahesh Mathad, , There are significant advantages for both the individual or corporation as well as, the bank in using e-banking. An individual doing personal banking on the internet, can, amongst other things, pay bills, do account transfers, make queries on account, balances, obtain statements, in some cases view images of checks, etc., and import, transactions directly into home account management software. Furthermore, one, can make such transactions 24 hours a day from any place with internet access, around the world. In addition to these, a number of banks offer personal financial, services including making personal loan applications on the internet. All these, represent a large increase in convenience and time saving for the bank customer,, saving him trips to the bank branch, queuing, etc., The advantages to the banking institutions themselves include, 1. reduction in the number of retail banking branches, saving rentals or ownership, of the related properties., 2. reduction in staffing because of the reduction in paper processing as well as, face-toface bank teller contact., 3. bringing about increase in the time the bank hangs on to the money before, making the required transfers, leading to increase in interest received by the, banks. These advantages are so significant that some banks offer customers a, number of incentives to -switch to internet banking, such as free checks, reduced, fees, increased deposit rates, etc., E-stock trading and e-investing, Several companies such as E-Trade .Datek.on-line, American Express Financial, Services, etc. allow you to trade stocks, bonds, mutual funds, etc. on the internet., These companies offer you to trade at a very small cost compared to discount, brokers or full-service brokers. This has resulted in these on-line trading, companies grabbing an increasing market share. In response to this, discount, brokers including Charles Schwab and full-service brokers have also moved to, introduce internet trading of stocks., The steps involved essentially are the following:, 1. place a request to trade, say buy a stock, 2. the system responds with current “on the web site” prices, 3. the internet trader has to confirm this trade or cancel it Several companies allow, one to create a simulated portfolio, which one watches over time without actually, buying or selling the stocks in reality. An example of this can be found on the, Smart Money site ., The major advantages to the person doing the trading are, 1. the reduced cost;
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Paper :e-Business, , Course :BBA VIsem, , Prepaired by : Prof.Mahesh Mathad, , 2. the convenience of being able to trade anywhere in the world with internet, access, e.g. while travelling; and, 3. access to a wide variety of information on a number of sites., In addition to actually allowing you to trade, these sites provide a considerable, amount of information. The reduction in margins available to stockbrokers as a, result of internet trading is beginning to have an effect on other more traditional, forms of brokers. This has led to some traditional brokers also providing internet, trading of stocks., E-education, A number of e-universities are being spawned around the world. Again, three, models can be seen:, 1. Pure cyber universities, such as Jones International University, 2. Traditional universities setting up new cyber vehicles for providing university, education perhaps with other business partners. An example of this the Hong, Kong CyberU .which was set by the Hong Kong Polytechnic University and Pacific, Century CyberWorks., 3. Traditional universities offering courses themselves on the internet. There are a, number of web-based technology tools for this purpose. An example is Web CT. A, number of so called “open universities” that previously provided distance learning, have moved into providing an internet-based version of their courses. These, traditional universities have a number of advantages. They can now reach a client, base that is outside their catchment. They also expect to be able to deliver, these courses at a reduced cost; however, the jury is still out on this. Another, advantage a traditional university has on the internet over a new pure cyber, university is that it has an established brand name. There are a variety of issues, that need to be explored carefully when preparing to deliver educational material, on the internet and these include the following:, 1. Does one use a distance learning model where the student uses a PULL model to, acquire the material?, 2. Does one use a traditional lecture model using video streaming? This is a PUSH, model whereby a teacher “pushes” the materials to the students., The use of the ‘internet for education opens up many possibilities, namely use of, quizzes, tests to provide the student with instant feedback on his/her mastery of, the materials, use of graphics and animation to explain concepts, particularly those, that have a dynamic character to them. It is anticipated that the internet will not, only lead to cyber universities of one kind or another but will also have a marked, effect on teaching and learning in traditional universities. One among some of the
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Paper :e-Business, , Course :BBA VIsem, , Prepaired by : Prof.Mahesh Mathad, , innovations that are being explored is the joint teaching by two universities on, different continents in order to enhance the learning experience., Matchmaking Services, This has perhaps been the area in which there has been the greatest growth in, eservices. Essentially, in most of these applications, the customer who could be an, individual or business specifies his requirements in relation to the service., The e-commerce site then does a search over its own databases or over the, internet using mobile agents, or over other databases or web sites to look for one, or more matches to these requirements. The information is then returned to the eservice provider site to give the customer the required service., Travel Services, Before the internet, one might have gone along to a travel agent in order to book, one’s travel requirements such as air tickets, train tickets, car hire, hotel, tours,, etc. The travel agent would try his best to meet these requirements by providing, information regarding schedules, pricing, promotions, as well as suggestions on, changes to de itinerary. These bookings could be for individuals or corporations, involving corporate rates, etc., A large number of e-commerce sites have appeared, which address this precise, market segment. These include trip.com travelweb.com, and priceline.com. These, web sites work in exactly the same way. When a customer provides requirements,, these sites do a search of their own databases or send agents our _ explore other, web sites and respond to the consumer. Amongst the requirement that the, customer could specify is an acceptable price., A number of sites, such as priceline.com, require that provided the price specified, is met, the customer cannot refuse the offer found. These ecommerce sites are, beginning to grab an increasing part of the travel market. They are attractive to, consumers because of the convenience, the ability to meet requirements such as, specified prices, and in some cases like lastminute.com, a special customer need, (i.e” booking at the last minute). These travel sites often also have a lot of, information on promotions, suggestions,etc., which are useful for customers. These, ecommerce sites are having a strong “disintermediation” effect. Disintermediation, refers to the removal of intermediaries such as travel agents from the process, involved in the purchase of the service., A recent increasing trend has also seen the primary provider of a service such as, an airline introducing internet based booking at reduced prices, further, emphasizing the disintermediation effect., E-employment and e-jobs
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Paper :e-Business, , Course :BBA VIsem, , Prepaired by : Prof.Mahesh Mathad, , There are several different kinds of services provided here, namely, 1. sites where you can get advice on developing your resumes and can post your, resumes on the web, 2. recruiters who use the web site to post available jobs, such as Hot jobsor, Jobdirect, 3. employers who list available jobs on the web sites, a. matchmaking facilities that search the internet for jobs for jobseekers based on, a specification, such as, b. matchmaking facilities to search the internet for resumes that best fit a job, description given by a prospective employer use of agents to do the search These, approaches of using the internet for e-employment or ejobs avoid many of the, costs and difficulties associated with traditional approaches to advertising, such, as high cost, limited duration, and minimal information., Others, In some areas, such as real estates e.g., the visualization ‘(3D’ facilities provided on, the web allow one to either, • show visualizations of buildings at the drawing board stage, or, • allow people distant from the physical site of building to actually visualize it, This area of matchmaking and brokering services is expected to grow greatly in, the near future with e-commerce sites exploiting new market niches. This is also an, area with the greatest likelihood of disinter mediation, and traditional agents or, brokers will have to build new dimensions to their services in order to survive., E-Entertainment, This is expected to be a growing area of e-commerce in the future. A number of, companies are gaining access to or have purchased large inventories of movies or, other entertainment material with the view of allowing people to download this on, the web. Sites here vary from theme sites that use a small amount of interactive, entertainment to promote their products, such as Disney, to others that provide, games either for a fee or are free coupled together with advertising that pays for, the site. An important issue here is that the payments involved are relatively small, for each transaction, and hence the use of micro payment techniques is likely to be, of considerable importance here., Electronic Commerce and Banking, “Banking is vital to a healthy economy. Banking as a business can be subdivided into, five broad types: retail, domestic wholesale, international wholesale, investment,, and trust. Of all these types, retail and investment banking are most affected by, online technological innovations and are the ones that stand to profit most from
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Paper :e-Business, , Course :BBA VIsem, , Prepaired by : Prof.Mahesh Mathad, , electronic commerce. The role of electronic commerce in banking is multifaceted, impacted by changes in technology, rapid deregulation of many parts of finance,, the emergence of new banking institutions, and basic economic restructuring., Given these environmental changes, banks are reassessing their cost and profit, structures. Many banks feel that in order to be profitable they need to reduce, operating expenses and maintain strict cost control. This philosophy is evident in, the many mergers and acquisitions occurring in the banking industry. The challenge, behind bank restructuring lies in adequately operational zing the notion of cost, control., Technology is the predominant solution for controlling costs., Banks are, Increasingly help to reduce operating costs and still provide adequate customer, service. Innovation and technology are becoming the key differentiators in the, financial services business. Advance in networking, processing, and decision, analytics have allowed institutions to lower service costs. Technology has also, accelerated the pace of product innovation. For example, sophisticated arbitrage, instruments like derivatives are changing the nature of investment banking., The Securities and Exchange Commission’s decision to allow Spring Street Brewery, to trade its stock online may also fundamentally change investment banking by, disinter mediating the traditional role of underwriting. Technology is enabling the, development of new products and services. For example, technology is capable of, replacing or expediting tedious financial exercises like check writing, filing taxes,, and transferring funds. Although large businesses have automated these tasks,, many small businesses and most households still do them manually., This is not surprising; large businesses have been undergoing computerization for, more than thirty years, whereas PCs have been entering households in significant, numbers only in the last few years. Technology is changing the interaction between, banks and consumers. In particular, technological innovations have enabled the, following capabilities: online delivery of bank brochures and marketing information;, electronic access to bank statements; ability to request the transfer of funds, between accounts; electronic bill payment and presentment; ability to use multiple, financial software products with “memory” (thus eliminating the need to re-enter, the same data); online payments—encrypted credit cards for transferring payment, instructions between merchant, bank, customer; and finally, micro payments (or, nickel-and-dime transactions using electronic cash and electronic checks)., These online capabilities increase the facility and speed of retail banking. However,, new technology is a double-edged sword. While it enables banks to be more
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Paper :e-Business, , •, •, •, •, •, , Course :BBA VIsem, , Prepaired by : Prof.Mahesh Mathad, , competitive through huge investments, it also enables new competition from fastmoving, non banking firms., This trend can be seen in the area of online payments, where recent innovations, have provided an opportunity for non banks to break into the banking business,, threatening the banking stronghold on one of the last key services provided by, banks. The present nature of online payments is a clear indication that if the, banking industry fails to meet the demand for new products, there are many, industries that are both willing and able to fill the void., Technology also creates problems in the product development lifecycle. In the, past, banks had the luxury of long roll-out periods because successful investment, in retail banking required a large monetary commitment for product development., This financial requirement pre-vented new participants from entering the market, and was a key determinant of success. This is no longer the case., Instead of a single institution doing everything, technology allows the creation of a, “virtual financial institution” made up of firms, each contributing the best-ofbreed software or products to the overall product. In this new “virtual model,”, banks compete with the twelve-to-eighteen-month product development times of, companies like Intuit or Netscape, which have product life-cycle times of only six, to nine months., Changing Dynamics In Banking Industry, In recent years, there has been a major change in the way banks strive for, increased profitability. In the past, the banking industry was chiefly concerned, with asset quality and capitalization; if the bank was performing well along these, two dimensions, then the bank would likely be profitable., Today, performing well on asset quality and capitalization is not enough. Banks need, to find new ways to increase revenues in a “mature market” for most traditional, banking services, particularly consumer credit. A thorough understanding of this, competitive environment is needed before banks can determine their online, strategy. Five distinct factors contribute to the new competitive environment:, Changing consumer needs driven by online commerce, Optimization of branch networks in order to reduce costs,, Changing demographic trends and potential new consumer markets, Cross-industry competition caused by deregulation, and, New online financial products., Changing Consumer Needs, Consumer requirements have changed substantially in the last decade. Customers, want to access account-related information, download account data for use with
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Paper :e-Business, , Course :BBA VIsem, , Prepaired by : Prof.Mahesh Mathad, , personal finance software products, transfer funds between accounts, and pay bills, electronically. Of course, along with these services, banks must be able to, supply/guarantee the privacy and confidentiality that customers demand, which is, not a trivial matter to implement on the part of the banks., Many consumer requirements are based on a simple premise: customers and, financial institutions both seek closer and more multifaceted relation-ships with, one another. Customers want to be able to bank at their convenience, including over, the weekend or late at night. Bankers want more stable and long term relationships, with their customers., From the bank’s perspective, developing and maintaining this relation-ship is, difficult. Although financial products are essentially information products and, financial institutions are highly automated, there is a gulf between automated, information and the bank’s ability to reach the consumer in a unified way. This gulf, is filled with established methods, such as branches, postage and mail, advertising,, and people on telephones., These methods can be costly and impersonal. Electronic banking provides a method, of communication that will enable the bank customer to be reached, served, and, sold products and services in their homes and offices whenever it is convenient for, them-twenty-four hours a day, seven days a week., Banking Via Online Services, Although personal finance software allows people to manage their money, it only, represents half of the information management equation. No matter which, software package is used to manage accounts, information gets man-aged twice, once by the consumer and once by the bank. If the consumer uses personal finance, software, then both the consumer and the bank are responsible for maintaining, systems; unfortunately, these systems do not communicate with one another, thus, giving new meaning to double-entry bookkeeping. For example, a consumer enters, data once into his system and transfers this information to paper in the form of a, check, only to have the bank then transfer it from paper back into electronic form., Unfortunately, off-the-shelf personal finance software cannot bridge the, communications gap or reduce the duplication of effort described above. But a few, “home banking” systems that can help are beginning to take hold. In combination, with a PC and modem, these home banking services let the bank become an, electronic gateway, reducing the monthly paper chase of bills and checks
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Paper :e-Business, , Course :BBA VIsem, , Prepaired by : Prof.Mahesh Mathad, , TOP TEN SUCCESSFUL ECOMMERCE STORES IN INDIA, The past 5 years have made India a hot spot for online business. For people who, are getting busy with their hectic lifestyle, online shopping websites have come, as a breath of fresh wave. The cash on delivery option has warmed people up to, trusting the internet., With such a fresh ground to sow in, entrepreneurs are flooding all over the, country to cash in on this fabulous opportunity. Here is a list of top ten, Ecommerce stores in India that have made it to the big leagues in a span of not, more than 5 years., 1. Amazon Success Story | the E-Commerce Leader, , From books to Music CDs to Electronics to Groceries to Sporting Fashion, Amazon, success story claims it as the largest E-commerce leader in the world.Having, become online in 1995, Amazon has more than just provide the customers with the, timely delivery of their orders; Amazon has built huge customer loyalty, brought in, newer features to its website or mobile app, better products and cheaper prices in, comparison with other e-commerce websites., The beginning of an era of Amazon:, Jeff Bezos began with Cadabra in 1994 which came out as amazon.com in July, 1995.Not having planned to sell anything other than books, Amazon, later on, began, to receive suggesting emails that people would like to buy music CD’s or Movie, DVDs in the same manner. It led the foundation to much more at Amazon and it, now deals with over 30 product categories ranging from books, Music CDs, Fashion,, Hardware and Tools, Electronics, Computer software, and Accessories and more., As per 2017 statistics, Amazon had 5,66,400 employees working under it which, increased from 17,000 in 2007.From 2004 with $6.90 billion sales Amazon has, well-marked its name as the world’s third largest online business by revenue of, $177.87 billion in 2017.
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Paper :e-Business, , Course :BBA VIsem, , Prepaired by : Prof.Mahesh Mathad, , What Shaped Amazon?, Because its focus is on the customer’s demands and perspective and not on building, itself against the competitor. Amazon success story is mainly driven by ideas and, innovation. Jeff Bezos, the Ideator-in-chief welcomes unconventional ideas and, concepts and then relate them with new technologies.Jeff Bezos thinks that ideas, stroke up growth. Against everyone’s will when in 2007, Amazon launched itself into, electronics device: Kindle E-Reader, it proved to be a confidence-boosting game, changer. And later on, Amazon brought in Echo and Alexa speaker devices with, more than 30,000 skills to bring verbal solutions to people’s problems., Because its focus is on the customer’s demands and perspective and not on building, itself against the competitor. Amazon success strategy is mainly driven by ideas, and innovation. Jeff Bezos, the Ideator-in-chief welcomes unconventional ideas and, concepts and then relate them with new technologies., Jeff Bezos thinks that ideas stroke up growth. Against everyone’s will when in, 2007, Amazon launched itself into electronics device: Kindle E-Reader, it proved to, be a confidence-boosting game changer. And later on, Amazon brought in Echo and, Alexa speaker devices with more than 30,000 skills to bring verbal solutions to, people’s problems.Amazon focuses on delighting its millions of customers with free, shipping, cheaper prices, varied range of products and timely delivery and of, course, great customer support.Following are some of the points that made Amazon, stand out in terms of innovations, experimentation, and Risk-taking:, 1. Ideas and Innovation: Amazon believes that ideas have value and consider, them as assets alongside its people, and equipment. Jeff Bezos works with, an innovative e-commerce website development strategy to channel the, opportunities into a stream of ideas into their implementation. Their, innovation is customer driven. With an approach of listening to the, customers via data, a business can understand what the customers want and, it will automatically lead the business into creating and innovating as per the, customer., Naturally,, the, money, will, follow., 2. Risk-Taking and Clear Thinking: Constant experiments taking the risk of, everyone’s disapproval is what led Amazon to what it is today. It works on, the thinking that an idea must comply with three requirements:, 1. scalability, 2. Significant returns
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Paper :e-Business, , Course :BBA VIsem, , Prepaired by : Prof.Mahesh Mathad, , 3. original., The E-commerce company takes risks, experiments constantly and has thought, that never kills a potential idea. Amazon innovates the ways of innovation and, thinking. In his memo, Jeff Bezos makes sure to induce clarity in the thinking and, then he with his senior team holds a discussion with the prepared questions,, counters, etc. on the advantages of the idea., Amazon Go:, Amazon has also introduced Amazon Go which are automated convenience stores, which have changed the way the shopper's shop. The customers enter the store,, are asked to download the Amazon Go app and the scan the QR code at the, entrance of the store and start taking the things and leave with the bags full of, items., These stores are like any other departmental store minus the cashiers where the, customers don’t have to wait in queues for their cart items to be scanned for, payment. The customers with the Amazon Go app are charged for what they leave, the store with. To this date, there are 11 Amazon Go stores., Amazon Prime:, Amazon Prime is a yearly membership which allows the member's benefits and, deals on products, faster or same-day (in the eligible PIN code areas) delivery,, cheaper prices of the items, unlimited access to online movies, kindle books, etc., From 45% of Amazon’s growth because of Prime membership in 2017 reached 51%, in 2018; 90 million subscribers in the U.S., Amazon has offered its customers the one-click checkout. Amazon simply aces, because it focuses on making its customers’ shopping experience at the website, better than before. The E-Commerce company considers itself the biggest, challenge to it as it has raised the bars of standards in the entire e-commerce, business industry., Amazon has now offered a platform to the people to sell. The users are allowed to, register as sellers, enter their products on Amazon, and sell them, enabling a wider, market to them., Amazon Pay, Amazon Pay has made the payment easier with 1-click option. Movie tickets, bookings, flights booking, electricity bill payment, phone bill payment; almost, everything has found a single platform. The customers don’t have to download, separate mobile applications for their day to day operations.
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Paper :e-Business, , Course :BBA VIsem, , Prepaired by : Prof.Mahesh Mathad, , How is Amazon successful?, Amazon has provided its customers with such services that people are attracted to, buy from Amazon. It has mitigated the advertisement expenditure by providing, customers with free shipping. And no e-commerce website development, company could compete with that today., An excellent user experience/ user interface design makes the customer find what, they need more conveniently. Because of a smart UX design, more options pop up, before the check out in the Amazon mobile app or website. Those options include, Similar products, products with more ratings, products bought together. These, options increase the sales. A hassle-free payment model in the e-commerce, application development makes the customer come back to it again., Amazon provides a long description of the products ranging from where it is, manufactured, which company sells it, what the ratings and user reviews are., Whenever a customer searches for a product, the search engine displays the, relevant options available on Amazon or country-wise Amazon websites. This, feature attracts the potential customer. Thus, increased traffic to the website., The Amazon marketing team surely puts great emphasis on the SEO which enables, the customer to directly reach the Amazon website and get what they want. 'Some, shipping companies offer affordable fees, but you should make sure that you know, the details, asking questions such as what is salehoo, so you're aware of their, policies and conditions, Conclusion:, With a clear mindset of ‘win it’ and open arms for ideas, the E-Commerce Website, Amazon finds its success in the loyal base of its customers and an intent to keep, innovating and experimenting. Amazon Success Story speaks all about the ECommerce company’s ability to maintain a relationship with its customers and, launching the products suiting the people’s needs.
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Paper :e-Business, , Course :BBA VIsem, , Prepaired by : Prof.Mahesh Mathad, , 2. Flipkart, , Every Indian living in metro cities has heard the name of Flipkart. They have, viewed it, browsed it and ordered from it. Flipkart initially began as an online, bookstore. In today’s age it is the go to place for the Indian youth to find, books on topics ranging from fiction to sports to even high end scientific, research., Flipkart will not leave you disappointed. It now covers a range of products from, every area of life. In a very short span of time Flipkart has become the answer, for everything., It was the brainchild of Binny and Sachin Bansal; both of whom began with an, investment of 4 lakhs and currently own a company that stands to make an, increased profit of $1 billion by the end of 2014. The story of Flipkart is a, stuff of legends., The candle of Flipkart lit when Binny and Sachin were working in Amazon and, thought of investing in their own start-up. There growth and success has been, an inspiration for many other start-ups that quickly lined up to enter the world, of e-commerce., 3. Snapdeal, , Snapdeal began its journey in the year 2007 as an online coupon directory. With, time it shifted its course and tried its hand at e-commerce. And the rest they, say is history. Kunal Bahl and Rohit Bansal were both tired of the boring day to
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Paper :e-Business, , Course :BBA VIsem, , Prepaired by : Prof.Mahesh Mathad, , day existence that they lead as company employees. They shifted their focus, towards creating something of their own., Today, they believe that leaving their jobs was the best decision of their lives., They have a customer base of over 20 million Indians and do business with over, 50,000 sellers who constantly post their products on their marketplace., The story of Snapdeal is not a one day success story. In their four year, experience, they have gambled with 6 different business models until they, finally hit the jackpot that is currently set to generate annual revenue of $1, billion., Snapdeal was a better business model unlike other Groupon clones in India, because Snapdeal entered the internet with the backing of 50,000 merchants, with whom they were already working before they created their website., Therefore, when Snapdeal came to India, it came with a level of variety that, none of its competitors could wish to reach., Snapdeal is right neck to neck with Flipkart in terms of e-commerce, competition, it is hard to decide which store will reach the finish line first., 4. Jabong, , Jabong is currently India’s most sought for branded clothing and accessories, store. Unlike Flipkart and Snapdeal, the business model of Jabong was slightly, different. It aims at capturing the brand conscious internet savvy population of, India and has successfully done so., Jabong is currently the premium destination for Indians to look for branded, wear. It began pretty late in the year 2012, when its competitors had already, set up a strong foothold in the arena. They were different from other ecommerce stores because of their streamlined delivery process.
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Paper :e-Business, , Course :BBA VIsem, , Prepaired by : Prof.Mahesh Mathad, , Although, Jabong is half the age of its competitors, it is estimated to yield a, profit of over $700 million., While, Flipkart was the first in the e-commerce market to create a clutter, free interface that became an instant favorite, Jabong grabbed a hold of their, attention with its unending catalog., No matter what your age, Jabong has everything for everyone. Their aggressive, marketing strategies made them hit a huge online client base, all of whom, responded with equal enthusiasm. Jabong’s super fast delivery process has, helped in making a space for this website on the e-commerce red carpet., 5. Myntra, , When it came to size, Myntra was a pretty small fish in a sea full of ecommerce sharks like Jabong and Flipkart. But, Myntra was a persistent fish, nonetheless. Mukesh Bansal is the mastermind behind Myntra. He is an, exceptionally smart and honest entrepreneur. From a personalized gifting store, to one of the leading online fashion stores, Myntra is always beating heads with, Jabong., Its acquisition by Flipkart is a high remark for this ambitious website. Its, innovative step up in selling sports merchandise and many other small moves, separated Myntra from other low scale e-commerce stores that are still little, fishes while Myntra has only grown bigger with time., Mukesh Bansal’s long term vision and his eye for the right investors helped him, scale Myntra and make it a nationally recognized brand in a span of three years., So much so, that Flipkart came out of its way to woo Myntra and acquire it for, its own; a great story for Mukesh Bansal to tell his kids.
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Paper :e-Business, , Course :BBA VIsem, , Prepaired by : Prof.Mahesh Mathad, , 6. 99labels, , An inspiring tale of online entrepreneurship finally has a woman’s face to it. Her, name is Ishita Swarup, a talented woman, who always had a dream to make a, name for her in the e-commerce industry. She began on this journey with her, two friends Anchal Jain and Arjun Prakash., Their business plan for 99labels is very different. Their unique vision, translated into their business model which partnered up international and, national brands and opened up limited windows for products to stay online to be, purchased., The site works on a model of sales events. People instantly took to the concept, and 99labels became an instant hit. 99labels is currently growing at an, international scale. The membership numbers have reached over 10 lakhs, which, is an unbelievable amount considering the short span of time., 7. Shopclues, The start-up story of Shopclues is pretty similar to other e-commerce startups, yet the one thing that separates Shopclues from its competitors is the, fact that Shopclues believes in bringing to its customers the cheapest and most, affordable deals., Their current business model aims to make Shopclues the first as well as the, most sought for wholesale website in India. Their new model has made, Shopclues a wholesale website that aims to sell its products to its customers in, bulk at wholesale prices., As they have just introduced this plan in India, it will still take a little while to, see the final results.
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Paper :e-Business, , Course :BBA VIsem, , Prepaired by : Prof.Mahesh Mathad, , It was the brainchild of Sanjay Sethi and Radhika Aggarwal, and currently is, one of the top marketplace ventures in Indian history., 8. Naaptol, , Naaptol is one of India’s oldest e-commerce ventures. It began as a research, and product comparison website in the year 2008, but once visitors started, rolling in, the website shifted towards becoming an e-commerce portal that, allowed users to compare products and decide which one is the best for their, needs., The website attracts over 90,000 customers with a daily transaction rate of, over 5,000 products. They currently plan to go digital with a 24/7 shopping, channel like HomeShop18. While HomeShop18 began as a digital service and, moved on to the internet, Naaptol’s aim to go digital will be viewed by some, skeptical eyes., Only time can tell, where Naaptol is headed with its digital strategy, as of now, it is among the top contenders in the e-commerce business in India., 9. FashionAndYou, , Many may argue that with the current ups and downs that FashionAndYou is, having, counting it as one of the top ten e-commerce ventures is not logical. But, the fact that this company has stayed afloat and continues to find ways to, increase revenue makes it a lone survivor worth recognizing., FashionAndYou is not a start up that made it big, but it is a start up ecommerce with a unique vision that is shaping up with time. After the shocking
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Paper :e-Business, , Course :BBA VIsem, , Prepaired by : Prof.Mahesh Mathad, , exit of Pearl Uppal, Asheesh Mediratta has been the CEO of FashionAndYou, from the year 2013., Under his leadership FashionAndYou has risen from the ashes and come up with, s slightly different business model. Instead of concentrating on making online, shopping an easy venture, something that has become a prerequisite for every, single e-commerce store in India, Asheesh aims to make FashionAndYou, different from its competitors., He aims to create a shopping store that promotes one of kind designs that, customers will be hard pressed to find elsewhere. Their dream is ambitious but, if they succeed in creating a unique and attractive inventory, FashionAndYou, will finally break into the big leagues again., 10. FabFurnish, , When it comes to home furnishing, FabFurnish currently stands unchallenged., It is the top leader in online home furnishing business, simply because they, dared to do what others didn’t think of., Their website is a virtual marketplace that is innovatively designed to give the, users the complete feel of the products before they invest in them., Considering the fact that it took Indian consumers ages to warm up to the idea, of online shopping, the success of FabFurnish makes for a remarkable story., This ornate website is the product of Mehul Agrawal and Vaibhav Aggarwal’s, inventive entrepreneurial skills. They understood the difficulties that Indians, face when they go looking for home decorations. They gave them an easy out in, the form of FabFurnish. Their current plan includes generating a revenue of, 220 crore in revenue by the end of the year 2014.
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Paper :e-Business, , Course :BBA VIsem, , Prepaired by : Prof.Mahesh Mathad, , The above list presented the ten most promising and successful e-commerce, ventures. These websites have created a tough ground for further competitors., A ground on which only the best e-commerce business plans can survive.
