Electronic commerce (e-commerce) is the idea of doing business electronically over the Internet. No longer bound by time or geography, ecommerce provides store owners with ubiquitous access to their customers. This significantly expands a store owner's opportunity to satisfy demand for products, services, and information of each customer.
What are the benefits of an online store? |
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Increase revenue |
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Low-cost/high-payback alternative to traditional physical store or mail-order catalog. |
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Avoid losing sales to competitors who are online |
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Immediate international sales presence |
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Shop Online 24 hrs/day, 365 days/year |
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Expand customer base |
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Set up shop anywhere, no need to re-locate |
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Low-cost way to turn your Web site into a profit center |
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Reduce phone cost due to customer support via email |
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Create customized mailing list |
What makes a successful online store? |
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Easy-to-use |
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Appealing |
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Good customer service |
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Unsaturated market |
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Know who your competitors are |
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How many other companies are selling similar products online? |
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Do their web sites work? Are their web sites fast? |
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Do they provide secure ordering? |
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What are their prices? |
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How responsive are they to their customers? |
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What is their reputation on the Internet newsgroups? |
| Elements of a successful e-Commerce strategy include: |
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Fast loading web site |
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Easy website navigation |
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Core products easy to find |
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Products displayed professionally and quickly |
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Purchase function easy to operate and understand |
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Online credit card validation |
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Secure credit card facility (SSL) |
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Fast and efficient logistics and product delivery |
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Client data captured |
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Data base manager for customer quality control and interaction |
E-Commerce is a primary advancement in technology that has altered the way customers purchase information, products and services. It is the way of the future, providing a method for sales and purchasing that improves business productivity and enhances profitability via 24 hour electronic business.