Six Stages Buy And Sell Strategy Analysis For Ecommerce Solutions Assignment And Projects
Task: Six ways the Buy and Sell strategy analysis improve eCommerce solutions assignment development
The eCommerce solutions assignment affirms that Ecommerce has grown to become the most preferred mode of advertisement and trade among consumers and the public due to the improving technology and demand for online shopping due to the COVID 19 Pandemic. It has resulted in most businesses setting up eCommerce solutions which offer a wide variety of facilities and services to the consumer (Sharma, 2000). International eCommerce giants like eBay have grown to become household names in today’s eCommerce world as they serve customer from all nations and offer an eCommerce platform from which customer can shop on the international market. Ecommerce solutions assignments and projects to develop and maintain web solutions have played a huge role in every business's growth and expansion. Successful eCommerce solutions have only achieved this level of success due to implementing certain aspects linked to the eCommerce solutions' buying and selling stages.
Importance of Six Stage analysis for every eCommerce solutions assignment
The eCommerce solutions assignment identifies that developing and presenting a suitable product or service for consumers require the eCommerce website developers to identify 6 important stages linked to the buy-side demand (India, 2008).
It refers to the reasons consumer will be attracted and want to purchase your product or service. Co-linked to a suitable product or service development since it allows the business to identify consumer demand expectations and needs for specific products and services.
Gathering Product Information
It's also important to make sure the consumer has full access to the product or service information, thus making it important to distribute the information using all communication medium formats. The information must be distributed via the internet, television, print media as well as through verbal communication and announcements to ensure proper consumer needs are identified during the eCommerce solutions assignment.
Product categorization is another important factor identified in this eCommerce solutions assignment. It’s also important that the products are distributed into suitable categories which will make searching and identification of specific models easier. The eCommerce websites must be broken into categories and subcategories catering for specific products.
Besides product categorization it’s vital that the buyer be offered a wide choice of product brands to select from. It is important since it helps attract a wider variety of customers who are shopping for specific branded products. Having them on the eCommerce solution ensures the customer remains faithful to a single service provider.
Ecommerce Solution Usage
Target users are another important stage while developing eCommerce solutions assignment projects as it maximizes eCommerce website usage among customer, thus allowing the business to achieve high sales conversion. It can only be achieved by the eCommerce website offering a large variety of brands and products which will ensure customer return to the website to shop. It’s also vital to make sure the website offers free delivery services since shoppers tend to be more attracted to eCommerce solutions offering free delivery as compared to paid delivery websites.
Repurchase, Returning and Retaining Customers
It’s also critical to make sure the business delivers high-quality products and services that will see the customer returning to repurchase and recommend their friends to visit the website and shop. An eCommerce solutions assignment project is only classified as successful when clients return. It makes retaining customers very important, but to achieve this, it’s important to consider implementing certain aspects such as return policies and order cancellations without fines. It allows the customer to retain their faith in the company, thus allowing them to continue dealing with the eCommerce solution.
The 6 Stages of Sell-Side Ecommerce
The First step linked to selling on any eCommerce website to identify on every eCommerce solutions assignment is the sales plans and goals. It involves getting the required technologies, hardware, and expertise to provide the consumers' sales services (Smith, 2008). It also involves understanding the consumers’ requirements, allowing the business to make the required adaptations to cater to consumer needs.
Identification of Sales Opportunities
It's also very important for the business to identify sales opportunities in the market and use those opportunities during the planning and development of the eCommerce solutions assignment project. It requires the business to keep tracking indicators such as holidays and festivals and concentrate more on the consumer products consumed during those seasons to increase sales exposure. It also keeps the organization on a competitive edge and capable of delivering similar products and services as their competitors.
Product Affordability and Price Range
The eCommerce solution must also provide products which can be afforded by the consumer accessing the website, thus increasing the chances of the website securing the sales. There is no point of marketing a product to a consumer who is unable to afford the services or product since they are unlikely to spend the money on the item. Pricing is a key element while designing and developing eCommerce solutions assignment projects. The project must consider the target consumer groups and their budget based on the project's design. It is also important to provide suitable payment facilities to increase sales since payment via virtual card has been identified to deliver more sales than cash payments.
Ecommerce Solutions Design
The Website design stage also plays a huge role in the sales as it allows the business to develop a suitable solution which can be accessed and used by a wide variety of users. The design must deliver easy navigation, attractive design, and high-speed connectivity, which are considered the most important stage, allowing the user to access the different pages and facilities easily and fast. Slow-loading websites will greatly affect the user experience and push many users from accessing other online solutions that offer competitive services.
Product presentation and review
The products sales are also determined by the way in which the products and services are presented and how customers review the product or service on the website. The consumer is unwilling to buy the product today and wants to perform additional research, learn more information, and read through reviews, which will deliver a better perspective linked to the product. It makes customer review management another aspect of the eCommerce solutions assignment to be considered carefully. All this information requires to be provided while presenting the products and services and customer reviews also help convince the consumer to buy the products and services.
Convincing the customer to buy the product is one step of the process, but it’s also important to provide the customer with the support required to encourage them to purchase the products. It requires the eCommerce website to provide acceptable payment options and customer support and return policies that will help complete the transaction by delivering the payment to the business and product to the customer. Both parties require being satisfied with the terms and conditions of the transaction thus, and it’s critical that each of the above steps is carefully implemented to the eCommerce solutions assignment project planning and development.
Micro and Macro environment determiners
To maintain a competitive edge in the market, it has become critical to evaluate and use different environments available in the market. It is best done by performing a micro and macro environment evaluations that will deliver long term benefits to the business and its consumers and all stakeholders (Mennen, 2010). In this eCommerce solutions assignment comparison between eBay to its closest rival, Amazon is performed. Each provides similar products and services but offers different facilities. Each of the eCommerce solutions has developed to be a leader in its own respect but specifically target certain sections of customers in the market.
Micro Environment Factors Dictating Competitiveness
The Microenvironment factors linked to the business competitiveness analyses the organization's immediate stakeholders who include the customers, Competitors, the public, suppliers and distributors.
In this eCommerce solutions assignment, it is clear that eBay’s is a biggest eCommerce website on the internet, but the website has also been noted to have severe limitations linked to certain aspects associated to the sales and customer experience. While eBay may offer a wider array of products, the website's payment options are noted to be complicated, which deters many consumers from accessing the services. It is a major concern outlined in this eCommerce solutions assignment since eCommerce websites need to retain a competitive edge by being able to accept all forms of payment and not restricted to a specific payment format. While domestic eBay websites will be suitable for individual shopping in a domestic level, international shoppers are noted to face serious complications linked to eBay shopping where they are expected to interlink their accounts to PayPal which in turn requires to be interlinked to the customer credit card account. It works out to become a long process that deters many customers from the website despite offering great deals for the products.
On the other hand, Amazon has been identified to offer fewer products on the website but accept credit as well as debit card payment from all international banks. It results in fewer hassles for the customer looking to shop for a product on the international platform since they only require to enter their card details and pay for the item which can then be shipped to the customer. In this eCommerce solutions, assignment eCommerce websites which offer friendlier payment solutions have a major effect on the competitor website performance. It allows Amazon to be a more preferred eCommerce solution for the international consumer due to offering friendlier payment facilities.
Macro Environment Evaluations
The macro-environment is another important aspect that is explored in this eCommerce solutions assignment. The Macro Environment also plays a huge role in determining the organization's performance. It includes wider social, cultural, and political aspects, such as the economy, demographics, legal structure, technology, protocol structure, social factors, and cultural forces, while developing and presenting products and services for sale. It is vital for companies to offer their products and services to the international customer because they need to adhere to each of these features and facilities.
Both eBay and Amazon have managed to develop effective macro-environment determiners due to both companies performing their operations and working on the international market. The macro-environment factors play a big role in establishing them on the international market (Liebana-Cabanillas, 2014). The eCommerce solution requires setting up the required guidelines to keep it within the legal obligations associated with the trade. For any eCommerce solutions assignment project to report success, the eCommerce solution must develop different policies. Each must cater to a different political force which must all be closely examined and monitored to deliver the very best feedback and experience to all stakeholders.
With the number of eCommerce solutions assignment projects raising due to increase in smart technology and the recent COVID 19 Pandemic it has become very important to analyze major players like eBay and amazon to determine how their business functions. It’s critical to use their approaches as a platform to develop an eCommerce solution and offer facilities that will pose a threat to those brands offer. Only competitive eCommerce solutions assignment projects that deliver the required shopping experience among its consumers and implementing the different facilities on the eCommerce solutions is critical towards securing the very best services.
India, P. E., (2008) E-Business and E-Commerce Management. 3rd ed. New Delhi: Pearson Education, India.
Liebana-Cabanillas, F., (2014) Electronic Payment Systems for Competitive Advantage in E-Commerce. s.l.:IGI Global.
Mennen, M., (2010) Micro and Macro Environmental Analysis of the Health Care Sector in the US and France - Potential Opportunities and Threats. Northeastern: GRIN Verlag.
Sharma, V. (2000) Developing E-Commerce Sites: An Integrated Approach. New Delhi: Pearson Education, India.
Smith, P. C. D., (2008) EMarketing EXcellence. 3rd ed. eCommerce solutions assignment New York: Routledge.