INTERNET BUSINESS
Abstract:
A usage of internet has become popular in the field of business. E-business is the business which the business owners can sell and buy the products over the internet. It keeps the preserve to hold the position on the competitive market. It helps to increase the role of internet and increase the market share. With the help of websites, the startup business has been utilized the essential characteristics of the business facility provided on the internet business. The improvement of information technology in the internet business plays an active role in the startup business. It offers online service to the customers effectively. The online business derives more profit by selling their products on online. The internet offers low cost and most sufficient sales tool which is compared to other business. There is a chance to grow the business successful on the internet with the internet promoting fundamental principle of decent activities. Promotion campaign is the significant benefits of internet advertisement which can be seen everywhere. It is best way for promoting company’s products through online. The internet business would help in the development of startup cost by providing low cost and easy maintenance. For startup owners, the geographic location and business plan have been initiated by the usage of internet.
Introduction:
Over a past few years, the use of ecommerce for businesses has become significant to preserve the position on the market. It used to expand the market share with the rapid enhancement of the information technologies. The internet business is the business can be operated through online or internet. It helps to maximize the role of the internet and integrated automation industries. World Wide Web provides a great opportunity to create the own online business as it has unique and global character. Because of geographic location, a person can control the use of the internet and do the business successfully. The internet is significant for the companies in today’s environment. It helps in the business development and integrated automation. By using the internet, many business has been initiated and they selling their products on websites. It is important to derive the reason for using this internet as the level of startup business. The purpose of internet business and how it helps in the enhancement of startup business will be evaluated.
Internet business:
Internet business is also known as e-business, a kind of business activity which can be operated over the internet. A business owner who does all of their business over the internet and operating an online business. Dasgupta (2001) stated that the online business comprises of buying and selling the products online and offering an online service to the customers. Variety of businesses can be found online in different industries. In general, anyone can start the online business. If a person has unique product, they can find a way to sell it online. It is significant to state that the internet offers a lot of new opportunities for modern companies (Olsen, 2005). Modern companies used to extend the activities and maximize the profits. The enhancement of the internet has developed a kind of economy with pace of growth which has changed the traditional business concept.
The economy is the system which uses the modern technology that transfer their businesses to the internet. Many corporations like Amazon and EBay have dominated the areas in which the traditional type of business sailed over the companies. The online business is necessary to be large companies to do successful business in the internet. By using this internet, the small and medium businesses have chances of profitability and the companies will drive the force of ecommerce.
Most people who operate and assume a business venture on the internet seem to be a chaotic sometime. An adequate communication will retain more benefit from advertising on the internet. It reduces the demerits of risks along with the communication. It helps to prove the buying and selling power which produces the constructive position. It helps to reduce the low risk of startup business. Many websites provide a perfect solution for commencing the business. It derives more opportunities towards start up business (Hatak, and Snellman, 2014).
Services:
Many services are offered on the internet like online banking. By using the online banking, the internet business has become popular among the customers. The online services are paying the money for the products through online banking. The online transactions will have the tracking system to maintain the account for particular customer. This transaction history helps the shop owners to provide more offers to the customers.
Low Cost
Internet communication offers the merits of storing costs and lower estimates. It is compared to printing posters and supporting a media center. It permits the good deal consideration for allowing buying and selling. Internet information is used to make the advantage of being lasting. It plays a significant part to determine the goods and services for others. It is cost effective and the costs of sending physical mailing to 25000 addresses (Techwalla, 2017).
Blogging
Blogging is the web log composed of up to date information on hot issues among the internet community. It is significant search engine marketing tools is used to promote the online businesses. This blog helps the websites to get better rankings in the search engines. Blog is essential to set a clear goal with a specific purpose (Kuwana, 2016). This would help the business on the internet. It provides the search engine tools which make search engines operate at a greater speed and make the website communication to all customers. Bloggers will transmit customers without cost and gives site to good chance for success.
Startup business:
The main benefits of starting an online business is low cost. People are aware about the fact of setting up a shop online is low cost and easy to set up. Expenses like utilities, renting and shop attendant salary are cut down after the aspect of online business venture. The registration and serving host expenses are little expensive. The maintenance of shop is no issue. The renovation cost may vary from website with the passage of time. Online business is not easy to accomplish but maintenance is easy. An online shop is possible within every reach and no issue of being restricted to a single place. The advantage of being online is open for millions of potential customers all across the globe. This virtual business can be large and holder can hold this website with lot of products and small range of products. The size of the shop evaluates how many items can fit. An online shop is easy than setting up physical one.
Selling products on EBay:
Castells (2001) suggested that internet attract more shoppers for goods and services. eBay is the world online marketplace which occupied the fifth position in top ten parent companies. Ecommerce is expected to grow well in the future. The online business derives more profit by selling their products on online. The internet offers low cost and most sufficient sales tool which is compared to other business. There is a chance to grow the business successful on the internet with the internet promoting fundamental principle of decent activities. Promotion campaign is the significant benefits of internet advertisement which can be seen. Both buyers and sellers use this program which produce excellent results. The visitors have the ability to evaluate the significant of advertise product. The customer is to determine what is good for them and allow time for them to what they buy (Plunkett, 2000).
The main disadvantage is organizing the business on the internet. The challenge in determining the authenticity records and advertising on the web to operate the complete analysis to evaluate the nature mindedness of transaction (Kar, n.d). Small businesses are intensive to make attack and the stolen credit and its information are verified using online transaction. On the basis of security measures, the vulnerability has been reduced to avoid fraudulent transactions. In the worst case, if there is no physical contact with buyer hence the sales opportunity will be lost. Almost every business use advertising method to get back customers to the website. The enterprise can earn to profit from the internet advertisements especially for small business owners.
Potential Customer Base:
If the person started the business, he/she should place a few advertisements in developing the name. The internet has changed the practice of placing the advertisements. Because the presence of internet provides the company a global audience. Customers are able to know about purchasing of products and services. The population of customers seemed as ageless. World Wide Web operates every day. The businesses which sell ready made products benefit most from the advantage. The entrepreneurs have the ability to maintain retail shop which never closes and possibility of making money (Gausepohl, 2016).
Networking Opportunities:
Internet has developed a global community of business owners. The business owner has an option to join a local channel of commerce to learn from entrepreneurs. The development of internet forums has taken a new idea to the new level. An exchange advice related to marketing and promotional techniques in the same line of business (Ellsworth and Ellsworth, 1994).
Cost Effective
The most effective benefit of using is internet for business is cost effectiveness. Commencing an online store will incur a budget needed to open a physical shop. Advertising online incurs low expensive costs than the traditional media and permits the business owners to attain a targeted demographic. The internet permits the business to be conducted no travel expense. A shop owner can purchase goods for resale from the suppliers to leave the comfort (Clercq, 2006).
Business development:
According to the recent survey, growth of e-commerce is gradually diminished by 25% every year due to bad world economy. During holiday season, new customers are entered in internet business and almost 81% of small businesses reached online marketing to increase sales and profitability. This survey clearly shown 25% of the revenue are generated from small business.
New economy:
Internet business promotes new economy with explosive growth and it has been changed our traditional way of business approach. Some companies created domination over areas to maintain good profitable business in online. Many small and medium sized companies successfully lead online businesses more profitably. Moreover, these small and medium sized companies are main source for e-commerce growth force in coming years.
Internet is a perfect platform for business.
In order to sell or buy the product and services, internet acts as a perfect platform for getting quicker response from prospective customers. The proper management of marketing in internet can get high yield and develop the growth of business.
Company’s image:
In online business, the presence of corporate identity is more important to promote products and service in today’s world. Without the brand image or unique identity, people does not make serious impact on the products.
Maintain better customer support:
Transit information to customers more readily.
Advanced technology leads update of information to the customers easily in web profile and can change and share accordingly with least number of days or hours to publish in the site. Making changes in their brand’s products or services makes easier in company website virtually.
Cut Costs:
The business streamlined process in online system significantly allows cut costs to the company in which reducing their maintenance, repair and operation costs (Silver and more, 2008).
New technologies permit to take any part of the business online which comprise of billing, shipping, supply chain management and procurement. The process of operating these business processes through online systems will permit the companies to reduce the cost in every aspect of business (Smith, 2016). The companies can minimize more than five percent of repair, operation costs and maintenance by obtaining business solutions. In order to build a new website, the costs are eventually low when compared to renovation.
Many business portal helps to create the websites from the templates. The World Wide Web helps to do business from any part of the world. The physical location for startup business is significant than conducting business online. The internet has become a global player in the development of ecommerce business. For this, there is no need of investing a large sum of money to operate this (Shopify, 2017). There are hundreds of vertical and horizontal marketplaces available on the internet. These marketplaces have an access to the large audience of the prospective customers all over the world. The determinant of e-business access is look like offline business.
Advantages:
The internet is now being revolutionized where all level of local and global businesses takes place and yield huge profit in less time. It significantly promotes the products and services to the customers at desired level. There are wide ranges of benefits in utilization of internet for business community. Globalization: computers are blamed for desired level of interaction in the market where internet credited to the point of international trade worldwide. Globalized materials have wide range of market to make high sales and consumed time. The advent of internet provides global audience for the company. Customers around the world does know about the product. Customers around the world are easily able to learn about the product features to purchase or sales in the internet marketing (Geldman, 2015).
Online business are the fast development and low start up. There is no definite need in rendering a physical space as the extent in the infinite area. The startup business requires more specification to develop their brands and products to the customers. This internet business helps to improve the development of the business in every aspect.
The seller can implicate a various range of products. The clients have more extensive option. Customer has the rights to choose the satisfied with the products. The generation of online shop do not need a lot of time and efforts to set up. At the commencing of the business, the developer of the website should promote through advertising companies. The costs do not need a more money where the conventional business does it. There will be electronic interaction between the people for minimizing expenditures and prevails low prices for customers (Murtuza, 2013).
The internet business has the capability attract the global customers with the minimal effort. It is possible to attain the international public through forms of advertising like television, radio, and print media. The effective in acquiring the potential clients for the internet business can be seen around the world. Whatever and whenever the clients are needed, there needs a something takes within the shortest period. The whole community of online buyers are from different countries. The client from distinct countries exchange the knowledge about useful information and international experience of communication (Deng and Zhang, 2014).
Online business provides traders a certain to earn money even if they sleep. The essential characteristics of internet business has operating modes of websites and the possibility of missing clients is reduced. They can purchase goods and offer high importance in which sellers save of time. In offline business, acquiring more thousands of people by surfing websites is difficult task. The traders can spend more time doing the things like working at the time. It is effective for the traders to organize daytime and put the work aside and have some rest (Archer and Yuan, 2000).
Disadvantages:
Opinion differ is the form of arbitrage is related to drop shipping. It is the process of ordering direct from wholesaler when the sale is made. Drop shipping is well accomplished and used by well-known retailers for expensive items. Because the drop shipping is unethical. Example, Amazon is the retailers where anyone can buy and the arbitrage seller do not tell the buyer when they purchase the item from Amazon. There will be no obligation on sellers to implicate the better price is available. Amazon to eBay arbitrage has injustice about the drop shipping. It is removed from way people yields a retailer to operate.
Arbitrage seller refund the difference which prevents negative feedback can be develop into the cost of doing business. If the buyer complains about it, then the sellers need to take immediate action against it. But eBay has positive feedback and they don’t have negative feedback from the buyers who were boycotting Amazon. There are some different in buying habits and checking the prices on both websites. Because of the comparison, the buyers have great confused on buying the products. Global shipping program makes the product available to the international buyer who is not able to buy directly from Amazon. Then the seller organizes for shipping from Amazon to eBay domestic warehouse. It is important to make eBay by use of the balance. The positive effect of selling the product on websites are very effective.
Conclusion:
Based on the evidence, the internet business is treated as low risk for the startup business. The internet business can be operated on the websites and the way of obtaining right customers for their startup is essential by perceiving the promotion campaign and ease of maintenance. Both sellers and buyers have been indulged in the activity and access of internet business. Particularly, many companies selling their products on websites. This access will be considered as an effective way of promoting their business.
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