M.com Part 1 (Semester 2)
E-COMMERCE
Most Important Question Bank for Current Exam
Q.11 Discuss the
benefits of website.
ANS:
In this digital age,
a business firm cannot do without a website. A business firms needs to develop,
maintain, and manage one’s own website, as there are several benefits or
advantages.
1. Online
Presence 24/7: -
Having a website
means customers are always able to find business firm anytime, anywhere. Even
outside of business hours, the website continues to find and secure new
customers. It offers the user convenience as they can access the information
they need in the comfort of their own home, with no added pressure to buy. Plus,
as most companies nowadays have their own website.
2. Information
Exchange: -
A website provides a
quick and easy way of communicating information between buyers and sellers. A
business firm can list opening hours, contact information, show images of
location or products, and use contact forms to facilitate enquires from
potential customers or feedback from existing ones. Business firm can even
upload promotional videos to really engage the customers and sell the business in
an effective and most efficient way. This is also a good way to promote social
media channels and build up a community with the customer.
3. Credibility:
-
In today’s modern
world, there is an expectation for any reputable company to have online
presence. Potential customers would likely be distrusting of any business that
didn’t have a telephone number or a physical address, and the same can be said
for not having a website and email address. Easy to use website makes customers
feel comfortable using the services, as customer will assume, they can expect the
same positive experience in all areas of business firm.
4. Market
Expansion: - Business firm’s
site is accessible to anyone all over the world, e.g. (Myntra, Amazon,
Snapdeal, Shop clues, eBay), the ability to break through geographical barriers
has never been easier. Anyone, from any country, will be able to find the
company and as such, is now a potential customer.
5. Advertising:
- Tools like Google
AdWords or advertising on Facebook give the power to reach customers with much
more accuracy and reliability than with traditional offline advertising
methods. SEO and online advertising are a great way to help build up awareness,
if it correctly done traffic to business website can see an increase. Be the
first company that a potential new customer sees when searching for a specific
product or service online and use website’s contact page or ecommerce features
to make purchasing a product or finding a retail outlet easier than ever
before.
6. Organizational
Objectives: -
With the help of
website, a business firm can provide convenience to the customers, and
therefore, the firm gets a greater number of customers, which in turn helps the
firm to achieve its organizational objectives such as:
Increase in sales.
Increase in market
share.
Increase in
profits.
Growth and
expansion of business, etc.
7. Benefits to
Online Sellers: -
There are several
benefits of a website to online sellers, which are as follows:
Global reach
Audience Sizing
Lower Investment
Lower Risks, etc.
8. Customer
Reviews: -
Website can provide a
good learning experience to the website owner. For example, a business firm may
request its customers to write a review of its products ‘or service performance.
The product reviews can a good learning experience to the business firms,
thereby, making product or service modification to satisfy the customers.
9. Tie-ups: -
A website may provide
an opportunity to the business firm for a tie-up with another firm. The tie-up
may be in respect of R & D, logistic, after-sale-service, etc. The website
information may generate a proposal to the business firm for a possible tie-up.
The business firm may either accepts or reject the same. If business firm
accepts the proposal for tie-up, it may enable the firm to grow and expand the
business.
10.Links: - A website may get the business firm to get links to
other websites. Links are especially vital to viral marketing. When several
sites are linked to the website of the firm, the word about the company gets spread
quickly throughout the globe. Therefore, it is advisable to develop a website
with good content. Others may recognize this vital content, and therefore, they
may link their website to the website of the business firm.
11. Cost
Reduction: - Website can help
to reduce certain costs. For example, website enables a business firm to
feature an electronic version of product catalogue, with no limit on size.
Because website space is significantly less costly than a printed catalogue,
one can even provide additional product photos and descriptive text. Errors and
typos can be quickly corrected without ordering a full reprint of the
catalogue, and products can be added or removed as needed.
12. Growth
opportunity: -
Websites, in general,
are great ways to in providing a place that potential investors can be referred
to. It shows what the company is about, what it has achieved and what it can
achieve in the future.
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