Podcast
Questions and Answers
What is the first step in imagining an e-commerce presence according to the text?
What is the first step in imagining an e-commerce presence according to the text?
- Determining the business model (correct)
- Developing a timeline
- Defining the target audience
- Conducting a SWOT analysis
What information should be included in the vision for an e-commerce presence according to the text?
What information should be included in the vision for an e-commerce presence according to the text?
- Mission statement, target audience, and intended market space
- Strategic analysis, marketing matrix, and development timeline
- Preliminary budget, SWOT analysis, and e-commerce presence map
- All of the above (correct)
What is the approximate cost of building a small startup e-commerce website according to the text?
What is the approximate cost of building a small startup e-commerce website according to the text?
- $100,000 or more
- No specific cost is mentioned in the text
- $25,000 to $50,000 (correct)
- Up to $5,000
Which of the following is not mentioned as a type of e-commerce presence in the text?
Which of the following is not mentioned as a type of e-commerce presence in the text?
According to the SWOT analysis in the text, which of the following is identified as a strength of the current e-commerce presence?
According to the SWOT analysis in the text, which of the following is identified as a strength of the current e-commerce presence?
What is a potential threat to the system development according to the text?
What is a potential threat to the system development according to the text?
Which of the following is considered an opportunity for the system development?
Which of the following is considered an opportunity for the system development?
What is a key component of the system design specification?
What is a key component of the system design specification?
In the context of system development, what does 'Building the System: In-House Versus Outsourcing' refer to?
In the context of system development, what does 'Building the System: In-House Versus Outsourcing' refer to?
Which of the following is listed under 'Business objectives' in system planning and design?
Which of the following is listed under 'Business objectives' in system planning and design?
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Study Notes
Building an E-commerce Presence
- An e-commerce presence consists of a mission statement, target audience, intended market space, strategic analysis, marketing matrix, development timeline, and preliminary budget.
Imagining Your E-commerce Presence
- Key components of imagining an e-commerce presence include:
- Identifying the business model(s) and revenue model(s)
- Defining the target audience (demographics, lifestyle, consumption patterns)
- Characterizing the marketplace (size, growth, demographics, structure)
- Determining the source of content
- Conducting a SWOT analysis
- Creating an e-commerce presence map and timeline
- Establishing a budget (simple website: up to $5,000, small startup: $25,000 to $50,000, large corporate website: $100,000+ to millions)
Type of Presence
- Types of e-commerce presence include:
- Website
- App
- Social media
- Offline media
Platform Activity
- Platform activities include:
- Traditional
- Mobile
- Tablet
- Search
- Display
- Affiliates
- TikTok
- Conversation
- Engagement
- Sharing
- Internal lists
- Purchased lists
- Newsletters
- Updates
- Sales
- TV
- Radio
- Education
- Exposure
- Branding
SWOT Analysis
- Strengths:
- Current sites do not address market needs
- Unique approach
- Easy navigation
- Better personalization
- Growing customer base
- High-value market segment
- Superior social strategy
- Weaknesses:
- Limited financial resources
- No prior online experience
- No existing user base
- No media attention
- No design expertise
- No computer background
- Opportunities:
- Ability to address large market with unmet needs
- Potential to capture significant share of this market
- Potential to develop related sites
- Threats:
- Approach could be copied by competitors
- Advertisers may not want to try a new site
- Rapid pace of technology development
- Low market entry cost
System Analysis and Design
- System analysis and design involves:
- Business objectives (list of capabilities wanted for the site)
- System functionalities (list of information system capabilities needed to achieve business objectives)
- Information requirements (information elements the system must produce to achieve business objectives)
- System design specification (description of main components and their relationships)
- Two components of system design:
- Logical design (data flow diagrams, processing functions, databases)
- Physical design (specifies actual physical, software components, models, and so on)
- Building the system involves deciding between in-house development and outsourcing.
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