E-Business and E-Commerce PDF

1 : Int. to E-Business and E-Commerce  The physical network that connects computers globally.  It consists of network server infrastructure and communication links.  These links provide information circulation between computers and web servers. Wireless connections are the provision...

1 : Int. to E-Business and E-Commerce  The physical network that connects computers globally.  It consists of network server infrastructure and communication links.  These links provide information circulation between computers and web servers. Wireless connections are the provision of electronic transactions and communications through mobile channels. Laptops, smartphones, tablets..  The world wide web (www) is the most common technique for publishing on the internet.  Access is provided by web browsers.  Web pages created by HTML-XML text and embedded graphics are displayed.  It is a service provided by the internet that uses universally accepted standards for storing, obtaining, organizing and displaying information in a page layout on the internet.  http://info.cern.ch : 1991  English Scientist Sir Tim Berners-Lee  It was established for the purpose of communication and document sharing among scientists at universities and around the world.  Search engine Google: 1998  Archive, webmail, advertising, social networks  Innovation  Innovative service developments: film, book, academic, cloud, map, finance, translation… 1998 2024  E-commerce is an abbreviation for electronic commerce.  It is the process of buying, selling, transacting, ordering and paying for goods and services over the internet.  In such online commercial transactions, the seller can communicate with the buyer without face-to-face interaction.  Online banking, online shopping, online ticket booking, social networks  Electronic business is known as e-business and is the online presence of the business. At the same time, business done via the internet or electronic data exchange is known as e-business.  E-commerce is one of the important components of e-business, that is, a subset. E-business is not limited to just buying and selling goods.  E-Business (electronic business) refers to a business doing business using digital technologies, while E-Commerce (electronic commerce) is when a business sells or buys goods and services in a digital environment.  Especially in recent years, with the rapid growth of e- commerce, businesses have entered the digital transformation process to capture e-export opportunities.  E-commerce sites, online stores and other digital platforms have increased businesses' access to global customers.  This has also allowed the e-commerce sector's export-oriented activities to increase rapidly.  E-Business and E-Commerce activities offer many advantages for businesses.  Global access, cost savings, access to new markets and increased efficiency are some of these advantages.  However, there are also disadvantages.  Security risks, technical issues, communication problems and low customer loyalty are some of these disadvantages.  The sectors with the highest sales in the e-commerce sector include technology products, food and beverages, fashion and clothing, cosmetics and personal care, and home and decoration.  E-commerce sites operating in these sectors generally attract customers' attention with product variety, products that are in line with current trends, and detailed product descriptions.  E-Business and E-Commerce are among the pioneers of the digital transformation process of businesses.  These two concepts allow businesses to do business using digital technologies and offer many advantages such as global access, cost savings, access to new markets and increased efficiency.  However, there are also disadvantages such as security risks, technical problems, communication problems and low customer loyalty.  Global Access: Thanks to the internet, businesses can reach customers worldwide.  Cost Savings: Businesses can reduce costs by optimizing their business processes.  Reaching New Markets: Businesses can access new markets and serve different segments through the internet.  Increased Productivity: The use of digital technologies can increase productivity by optimizing business processes.  Global Access: Online stores can reach customers worldwide.  Cost Savings: Online sales can eliminate the high costs of opening and operating physical stores.  Reaching New Markets: Different customer segments can be reached through online markets.  Increased Productivity: Online stores and automated order processing processes can increase efficiency by speeding up orders.  Security Risks: Businesses may face the risk of customer data being stolen during online transactions.  Technical Issues: Misuse of digital technologies or system problems can cause problems for businesses.  Communication Issues: Online customer service may not be as effective as face-to-face or telephone customer service.  Low Customer Loyalty: Customers making purchases without seeing the products can be a barrier to customer loyalty.  Security Risks: There may be a risk of theft or fraud during online payment transactions.  Technical Problems: Technical problems may occur during transactions made through online stores.  Communication Problems: Customers cannot feel their experiences in online stores, and therefore businesses may not be able to adequately manage the customer experience.  Low Customer Loyalty: Customers do not have the chance to try products when they shop online, and therefore they may face dissatisfaction with the products.  E-Commerce refers to the performing online commercial activities, transactions over internet. It includes activities like buying and selling product, making monetary transactions over internet. Internet is used for E-commerce. Websites and applications (apps) are required for e-commerce. it is mainly connected with the end process of flow means connected with the end customer.  Examples of E-Commerce are online retailers like amazon, flipkart, Myntra, paytm mall, seller of digital goods like ebooks, online service etc.  Activities of E-Commerce are : Buying and selling product online Online ticketing Online Payment Paying different taxes Online accounting software Online customer support  E-Business : E-Business refers to performing all type of business activities through internet. It includes activities like procurement of raw materials/goods, customer education, supply activities buying and selling product, making monetary transactions over internet. Internet, intranet, extranet are used in e-business. Websites, apps, ERP, CRM are required for e-business.  Examples of E-Business are e-commerce companies and its various internal business activities, auction site, classified site, software and hardware developer site etc.  Activities of E-Business are : Online store setup Customer education Buying and selling product Monetary business transaction Supply Chain Management E-mail marketing  Intranet: Limited version of the Internet used within a business  Extranet: Opening the network to the outside by adding suppliers and customers of the business to the users.Creates a virtual environment for providing service to customers, communicating with employees, and communicating with customers or business partners.  24/7 access to new customers  Reduced order overhead and shipping costs  Increased customer experience with streamlined processes  Targeted marketing with consumer behavior and data  Internal actions  Integration with suppliers, customers and collaborators  The low cost of creating a website and the ease of duplicating existing pages make it easy to create fake sites that appear to be published by established organizations.  When transaction information is transmitted through unsecured sites, hackers can obtain sensitive information.  Sharing information without customer consent can trigger legal action.  Data in process can be maliciously compromised or accidentally changed. 2. : E-Commerce Models  Electronic business is known as e-business and is the online presence of the business.  At the same time, business done via internet or electronic data exchange is known as E-business.  E-commerce is one of the important components of E-business, that is, a subset.  E-business refers to all business activities conducted online. This includes buying and selling, but also other activities. These activities can include managing finances, customer service, and collaboration with business partners.  Think of e-business as an umbrella term. It covers all the ways a business can use the internet to operate and grow.  Examples Of E-business Activities Online marketing and advertising Using online tools for project management Customer relationship management (CRM) systems Online training and webinars for employees Supply chain management using digital platforms  E-commerce is an abbreviation for electronic commerce.  It is the process of buying, selling, transacting, ordering and paying for goods and services over the internet.  In such online commercial transactions, the seller can communicate with the buyer without face-to-face interaction.  Online banking, online shopping, online ticket booking, social networks  E-commerce is a subset of e-business. It specifically refers to the buying and selling of goods and services online. This can happen through websites, mobile apps, and social media platforms.  In simpler terms, e-commerce is about transactions. It’s the process of customers purchasing products or services over the internet.  Examples Of E-commerce Activities Online retail stores like Amazon and eBay Digital marketplaces like Etsy and Shopify Subscription services for digital products, like Netflix or Spotify Online auctions and classified ads Mobile commerce through apps like Wish and AliExpress  E-business encompasses all aspects of online business operations, while e-commerce is solely about buying and selling.  What is electronic business model and its components? In fact, it is a way that describes how a company functions to provide the services or products and how it generates profits. Moreover, it also defines how a company will create and adapt to new technologies or markets. All components of a business model work together for successful business operations.  It describes the basic information of the business including goals, vision, products, and offers from which it will earn revenue. The effective concept is based on market analysis that will identify the customers’ interests to purchase the product and how much they can pay for it.  Whether the company is prepared to achieve its goals and objectives addressed in the implementation plan for running a business and in the business plan process for startup companies.  Corporate strategies are also embedded in the e-business concept and describe how the business concept will be implemented and can be modified in order to enhance business performance.  Business concept and market research are important to understand the market, who comprises it, and what they want. Once the market research is done, now the pricing should be established according to the competition.  The value proposition is a value that an organization or business will provide to its customers. It may include one or more of the following points: Reduced price Improved service or better functionalities with user-friendliness Speedy delivery and improved assistance Products or services that result in greater efficiency and productivity Access to available inventory has different options for the buyer Personalization  Ecommerce refers to the buying and selling of services/products. It also includes the online payment options for a great online shopping experience. Affiliation Advertisement Agent/Representative commissions Licensing Sales commissions Sponsorship Syndication Use Fees Subscription  In order to carry out the mission of the business, different activities are required and certain resources are needed. For example, professional employees with specific skills or capabilities can better perform particular business activities.  Activities  Particular business processes or groups of processes that are required to implement the business concept are known as activities. The operational business model is used to identify the costs/expenses and outputs of each activity.  Different business processes or “Methods of doing business” might be patented, so that the business model may unintentionally include the intellectual property and patents will be freely awarded for business processes. For example:  Amazon’s “one-click” purchasing patent has the most widely renowned patent infringement case because buyers can easily buy the products and services without using a shopping cart. Several companies have patented Internet Business Models, which are being used by many companies. So, they charge for licensing otherwise they will face problems in the future development of e- business.  Organizations require human, tangible, intangible, and supporting resources in order to perform their activities in an efficient manner. Tangible resources are also known as physical and financial including company equipment, case reserves, and facilities.  Whereas the intangible resources include the customized software, customer data, intellectual property, and business processes that can be patented. Supporting resources include the IT and communication processes and organizational structure.  Workers with the required skills are vital for every successful business.  E-business is similar to the traditional business except for internet presence, broader audience, and buying facility without visiting the company’s outlet. First/initial wages are the highest cost for a business and capable workers may not be available all the time.  E-commerce, which involves much more than just one person selling a product to another person, has become a very large ecosystem with its different models.  One of the biggest actors in the sector is undoubtedly the customer. Within the scope of different business models, the parties to e-commerce can be consumers, businesses, citizens, employees and even the state.  E-commerce business models refer to shopping methods that vary according to the parties, working principles and platforms of electronic commerce.  The basis of online shopping is formed by parties who come together on digital platforms to buy and sell.  E-commerce models determine between whom and on which platform the shopping in question will be done.  When the first examples of e-commerce are examined, it is seen that the applied model is from business to consumer or from consumer to consumer.  When it started to be used actively, it turned into a business-to- consumer model.  After the opportunity to reach almost every need with e- commerce, regardless of sector and product type, the actors of traditional trade also moved to digital.  In this direction, e-commerce models were developed in order to keep different working trade methods separate from each other in the electronic environment.  It is possible to divide the different e-commerce models that are widely preferred today into three main groups according to the working method, business model and platform.  Working Business Model Platform Method B2B Horizontal Mobile B2C Vertical Social C2C Marketplace C2B Intermediary B2G G2G  It is the purchase of products or services from another business's e-commerce site by a supplier who sells on his own site or in marketplaces.  A physical store purchasing whole goods from a wholesaler is the equivalent of the B2B model in traditional trade.  In this model, there is no sale of products to the end consumer. The vast majority of shopping transactions are done wholesale.  In the B2B model, the business on the seller side needs a large capital to start. More product stock and large storage areas are required. When looking at the cost in terms of unit, it can be said that it is more advantageous.  The most popular example of the B2B model is Alibaba.com.  Access to needed products, directly and wholesale  Lower purchasing cost per unit  Chance to gain more loyal customers  Achieving high and stable profits through repeat sales  It is a classic and widespread e-commerce model and forms the basis of retail sales. Businesses put their products up for sale on their own e- commerce sites or marketplaces.  Consumers order products through these channels. It is also one of the most basic models of traditional trade.  Examples from Turkey and the world such as Aliexpress, Amazon, Trendyol, Hepsiburada, Biletix can be given.  B2C, which is one of the easiest business models to start operating, is also frequently preferred in the digitalization process of physical businesses.  Strong brands can implement the B2C model with their own e-commerce sites, while small-scale businesses can implement the B2C model with virtual stores in marketplaces.  Since it is widely used and directly appeals to the end consumer, there is intense competition among businesses implementing this model.  Lower start-up capital A practical ecosystem that works simply Ability to appeal to a wide range of potential customers Opportunity to increase sales by creating campaigns and advertisements  Any consumer selling a product to another consumer.  This is the working model of second-hand markets.  Consumers can offer products that they have used before or that are surplus to their needs for sale via C2C e-commerce platforms.  C2C is an old business model in e-commerce, just like traditional trade. Uber, Airbnb are among its most important representatives in the world.  One of the most popular C2C sites in Turkey is sahibinden.com.  Applications such as Letgo, Gardrops and Dolap are also platforms where consumers can do C2C e-commerce.  In this model, consumers who are not employees of a business but provide products or services to that business are in the role of sellers.  Amazon purchasing a book from an author to sell on its site can be shown as a C2B example.  The most recent example where this model is actively used is the freelance work method.  For example, a digital advertising agency may have a freelance designer create an animation that will be used in an advertisement.  Since the designer in question does not work for the advertising agency that requested the work, they are in the role of a consumer. Since they sell their work to the business, they are on the seller's side.  Itis an e-commerce model that works by using digital platforms for the services that businesses offer to the state.  The simplest example is the tenders opened by the state.  Today, many tenders are opened online and businesses submit their offers through official sites.  An e-commerce transaction takes place between the business and the state.  When government institutions use electronic platforms to provide a product or service to businesses, it means that the G2B model is used.  Eximbank loans given by the government to businesses that export are among the G2B examples.  The G2G e-commerce model refers to transactions between government institutions located in the same or different countries.  Examples include commercial transactions between the European Central Bank and the Central Bank of the Republic of Turkey.  Horizontal e-commerce is a model related to the variety of product groups offered for sale through a website or marketplace.  In e-commerce sites where this model is applied, many products and product groups are offered for sale in different categories, regardless of whether they are related to each other.  Therefore, details such as stock management, storage, logistics are very important and require high capital for the start.  The horizontal e-commerce model is applied on sites such as Amazon, Trendyol, Hepsiburada.  There is a single product group in vertical e-commerce. The categories on sites that implement this model do not go beyond a certain group.  E-commerce sites of companies such as MediaMarkt and ebebek can be shown as examples of the vertical e- commerce model.  For example, there is no clothing category on MediaMarkt's site. There are only categories related to electronics and technological devices.  In sites where the marketplace model is applied, the business that owns the website is not the main seller. Businesses open virtual stores on online marketplaces and provide services to users of the relevant e-commerce site.  The business that owns the marketplace receives a commission from the shopping transactions that take place on the site.  For example, the consumer buys a shoe from Trendyol. However, the main seller who supplies and sends the shoe is a different business such as “X Tekstil”.  Model that brings together the end consumer and the seller businesses is applied in intermediary sites. Examples of e-commerce sites are Yemeksepeti, Çiçeksepeti, Biletix. In this model, the products are provided by the businesses and the service is provided by the intermediary website.  Onlineshopping sites offer users a more innovative service by publishing their mobile applications.  The most important advantage of the mobile e- commerce model is the ability to quickly access products and campaigns with instant notifications.  Itcovers sales made through social media platforms. It is of great importance in terms of advertising and marketing.  After the contribution of social media to e-commerce has reached a significant level, some updates have been made to the working systems of social networks.  Almost all social media platforms offer advertising services. After Facebook's developments, it has also become possible to sell products through Instagram.  The qualities of the buyer and seller parties can be seen.  Whether the parties are individuals or institutions also changes the business model.  E-commerce income models work accordingly and income is generated in line with the preferred business model.  Current and future strategies are determined according to the business model.  E-commerce models are also important for elements such as capital, product supply, and target audience.  Each e-commerce model has its own volume and capital should be created accordingly.  For example, more capital and product stock is needed in the B2B model. In the B2C model, it may be necessary to offer more product varieties with a smaller capital. 3 : Strategic Planning  Strategy is the totality of the paths and methods used to achieve a specific goal.  Corporate strategy is the activities aimed at increasing success and increasing the value of an institution by taking into account the long-term comparative advantages of the institution.  Corporate strategy is the strategies for the position of an institution and the areas in which it operates in order to achieve its goals and objectives. 1-The basic functions and activities of the institution 2- What is required for the institution to continue its work 3- What needs to be done to increase the institution's capacities 4- Measures to be taken to increase the institution's effectiveness 5- What needs to be done to increase the institution's competitive opportunities  It is an approach where electronic communication applications support and develop corporate strategy.  E-business strategy is to create new e-channel strategies in an organizational sense.  E-Business strategy is a channel strategy.  It is to develop a strategy in line with the goals determined in communicating with customers through electronic media.  Multi-channel e-business strategy is the integration and support of various marketing and supply chain channels to business activity.  Correct e-channel application is very important in determining e- business strategy. Correct e-channel application: It is to reach the right customer, through the right channel, with the right message and at the right time. STRATEGY PROCESS MODEL  In determining strategy, it is the collection and processing of information about the organization's internal processes and external resources and the market place.  It is important for developing the right strategy in line with e- business capacity.  SWOT Analysis  Strengths, Weaknesses, Opportunities, Threats  It is a form of analysis used to determine the strengths and weaknesses of the business and to detect threats and opportunities originating from external environments and to take precautions or actions against them.  Strengths: First, differentiation as a business with strengths. Assets, Knowledge, business connections, qualifications…  Weaknesses: In order to be successful, it is necessary to concentrate on areas that hinder the business or need to be developed. Thinking with factors under control. What can be developed for competition? Is more staff, better technology or new skills needed?  Opportunities: What external factors can benefit the business? Is the market growing? What is the market share? What are the new technologies for competitive advantage? The status of competitors?  Threats: Although external risks and threats cannot be controlled, awareness and preparation for potential challenges. A decrease in demand due to one of the competitors gaining a larger share of the market? Environmental or consumer factors and returns that may change suddenly? Strengths Weaknesses *Various products across categories *Health effects of sugary products *43% market share *Not being able to find alternatives to sugar in beverages *Beverages with secret ingredients *Changeable consumer behaviors Opportunities Threats *Not having many competitors at the same level *Developing *Other companies offering healthy alternatives products that are in line with *Negative press trying to damage the brand health trends will increase market share  Mission: It expresses the purpose of an institution, its current reason for existence, its history, information about its founder, its basic responsibilities, who it serves and in what area. Current status.  Vision: It is the point the institution hopes to reach in the future. It is the result that will be achieved if the continuity of work within the framework of the mission is ensured.  Creating a corporate culture:  It is when employees and customers understand and embrace the mission and vision of the organization.  When employees are aware of the short- and long-term goals of the workplace and do their jobs accordingly, it makes it easier for the organization to achieve its future goals.  It is the formulation, compilation and final selection of specific strategies in the process of achieving strategic goals.  E-Channel Strategies  Market and Product Development  Positioning and Differentiation  Marketplace Configuration: Target Market  Business Capacity  Itis the process of planning, taking action and controlling to achieve strategic goals.  Supply Chain Management  E-Marketing  Change Management  Analysis and Design  In order for every business in a competitive environment to survive in the long term, it must use its skills and resources to master environmental conditions and thus adapt to the ecosystem it is in.  Within the framework of the plan created, it is determined which vision, mission and action plans the businesses will act in the long term and which opportunities and advantages they will evaluate. A strategic plan covers a business's goals, areas of activity, growth plans, and steps to take against its competitors.  With strategic planning, businesses build their future more consistently.  This process supports companies in improving their performance, becoming institutionalized, and gaining advantage in a competitive environment.  Situation analysis  Determination of mission and principles  Creation of vision  Determination of strategic goals  Activity and project planning  Process monitoring  Evaluation and performance measurement Situation Analysis  Situation analysis is a step taken for businesses to find an answer to the question “Where are we?”  At this stage, many elements are evaluated, from environmental threats to internal weaknesses, from opportunities to capabilities. The historical development of the business, its legal obligations, fields of activity, products and services are determined.  Legislation, stakeholder, environmental and internal business analyses are performed.  Based on the purpose of the business, the steps taken throughout history are examined and compared with the current situation.  SWOT analysis is usually performed while conducting a situation analysis.  Mission :  A business's values, approaches, principles, philosophy and distinctive features are expressed under the title of mission.  The clear and consistent expression of the business's mission is of great importance for both employees and customers.  Vision  A business's vision indicates the point it wants to reach in the future. Therefore, when creating a vision, business owners should seek an answer to the question "Where, how and under what conditions do we want to see our company in the future?"  This answer is very important in terms of the business's motivation and future success. Strategic Objectives  When the vision and mission of businesses are expressed within the framework of consistent, realistic and solid goals, strategic goals emerge.  These goals constitute the steps of the strategic planning process. When determining these steps, the resources, needs, preferences and priorities of the business should be taken into consideration.  Factors such as customer satisfaction, budget, market conditions, market share and financial returns should not be overlooked. Activities and Projects : The question of how to achieve the goals determined in the previous stages of strategic planning is answered in this step. The roles of units and departments are clarified by determining which activities and projects will be implemented. Projects are prioritized according to their importance, and risks and assumptions are included in the action plan. Process Tracking (Monitoring) : In this step, systematic monitoring of the goals and projects created within the framework of the strategic plan is carried out. All developments regarding the achievement of the goals are regularly reported and presented to the relevant persons for evaluation.  Evaluation and Performance Measurement:  In the final step, the initially created version of the strategic plan is compared with the current status of the business.  Using various performance indicators, it is determined how much the goals and objectives overlap with the point achieved. 4 : E-Commerce Market Research  Developing technology has also brought innovations in the field of economy.  The electronic commerce revolution adds a different dimension to commercial activities.  At the same time, it allows a store opened in a digital environment to use the entire world as a potential sales area.  In order to be successful in the e-commerce world, one of the issues that must be addressed beforehand is market research and analysis.  Conducting market research and analysis correctly is of vital importance in achieving success.  Whilethe world population increases by an average of 1.1% every year, the number of internet users has increased by approximately 15% with developing technological opportunities.  E-commerce, which is making its power felt with this developing technology network and is taking firm steps towards becoming a necessity in order to continue the competition rather than an option for businesses, enables companies using the mentioned technologies to reach all internet users.  One of the basic conditions for being successful in e- commerce is to be able to respond to the needs of the customer correctly and to have knowledge about the requirements, weaknesses and strengths of the market.  The way to obtain this information is to conduct good market research and analysis.  Market research provides detailed information about the market that is planned to be served, to get to know potential customers more closely, and to have information about the supply and demand of the market.  In market research, which includes the analysis of the market to be entered and potential customers, special attention should be paid to feasibility and needs analysis, and the results should be evaluated correctly.  Feasibility research covers economic, financial, legal, organizational and technical research.  Economic research is the research conducted on how efficient the e-commerce system to be established will be, how smart it is and what kind of profitability it will provide when established.  Financial research is based on determining the cost and revolving fund requirement in case of investment and making income and expense estimates.  With a well-conducted economic and financial research, the targeted profit can be achieved by determining the estimated expense-income balance of the business.  Legal research is the examination of taxation and legal responsibilities that businesses have.  If these legal responsibilities are not fulfilled due to poor research, businesses may be penalized.  Organizational research covers issues such as the distribution of authority and responsibility, communication channels to be used, organizational chart and division of labor.  With this research, it is determined how the processes within the business and between other businesses to be worked on will work, and any hierarchy or liability confusion is prevented.  Finally, technical research is the evaluation of the technologies to be used in production, the maintenance and repair of the machines, and the determination of the team that will maintain the e-commerce site.  The expected success in e-commerce is directly proportional to the harmony and quality of the team to be formed.  Needs analysis is the determination of the problems that may be encountered while trying to ensure the development of the business in the e-commerce sector and the continuity of this development and finding solutions to these problems.  Needs analysis also includes the determination of products that are lacking in the market.  Market research in e-commerce reduces the risk of loss.It also plays an important role in determining advertising and promotion strategies.  The age, gender, estimated interests of potential customers in the market to be entered, advertisements made according to the determined marketing strategies are the factors affecting success.  By definition market research is the process of evaluating the viability of a new product or service after conducting direct research with the target customers.  With this method, firms or businesses can discover potential customers and know their opinions to make relevant decisions.  The purpose of conducting market research is to analyze a market-linked with a specific product, to decide how the customers will react to that particular product or service.  The information in the market research report helps dictate the requirements to suit the audience’s needs.  Market research is vital to attain the following three objectives: Basic to proper planning  To initiate the marketing plans and policies successfully, market research is a dire need. Lowering Marketing Costs  Market research is critical as it provides businesses with ways to reduce distribution and advertisement costs. Finding New Market for the Products or Service  Market research is significant to discover new markets for the product and maintain the existing ones simultaneously.  Improving User Experience  Customers will keep the business taking off with high colors.  Look for ways to engage them that drive better traffic to business.  With market research, it is possible to get to know about their experiences and make amendments as necessary to meet up their expectations.  Planning the Right Strategy  Strong market research helps to provide with information about what the customer is thinking and why they are thinking that way.  An idea about customer expectations, preferences, and the price they are willing to spend on a particular product or service.  Having a clear conception of these pointers, helps to strategize accordingly.  Coming out of ‘Guess Work’  An alarming side in business is people often tend to get away with bad ideas resulting from guesses or assumptions which is not preferred.  Complete market research helps to get the right insight about the purchasers and end up making a disastrous decision.  Rather with the aid of the available data, marketing plans can be executed.  Depending on the methods and tool requirements, market research types are as follow:  Primary market research is a combination of both qualitative market research as well as quantitative market research.  It is the process of data collection through direct communication with the customers like surveys, interviews, etc.  It involves data that isn’t pre-existing and comes directly from the customers. Primary research develops two types of information:  Exploratory: it involves open-ended or straightforward questions to gain lengthy responses from the answerers, and is conducted through a detailed interview primarily with a small group to address problems.  Specific: it is exactly to the point and used to address particular issues after being identified through exploratory research.  Secondary market research involves the data already existing in the market and the researcher can use it free of cost or at a much lower price. The data comes from various public sources, education sectors, and commercial sectors. Secondary research has a limitation. It might not fit the actual requirement the researcher is looking for.  Market research surveys are a qualitative research method that the respondent undertakes to answer a short series of market research questions. The questions can be either open-ended or closed-ended or so. Surveys seek answers via direct market research questionnaires or emails and Google forms. Undoubtedly, surveys are the most common technique in market research.  Surveys are an inexpensive and comprehensive research method that helps you with lots of meaningful data in a short time. Moreover, the data is easy to analyze and you get to plan accordingly.  Direct one-to-one communication with target customer via interviews is the best technique in market research.  The chance of in-depth research and get further insights from the respondent’s expressions.  Video conferencing is a great option if there’s a problem with the face-to-face meeting.  Interviews are a significant tool to understand potential customers in the best possible way.  After having a direct conversation with the customer, have a transparent idea about experience with product or service.  Focus groups constitute a group of selective people who fit the firm’s target market.  The conversation is the responsibility of an expert moderator.  Carries out discussions related to the product, user experience, and expectations, marketing techniques to gather better insight.  This research method is expensive.  A minor mistake can lead to major errors.  There are scopes of dominance: a stubborn participant trying to influence the group, and moderator style bias where different moderators will develop dissimilar results from the same study.  The qualitative research method where the researcher minutely observes the customer (subject) in a natural setting is observational market research.  This process is much like being a silent guest in a room full of people.  It is like observing everybody minutely and analyzing afterward.  In this research type, subjects are mostly behave spontaneously. However, if they are conscious of the observation, their behavior might differ.  For example, during a discount tenure, the researcher can take a look at the customers like how they are reacting to the situation, what they are buying, how much they are willing to spend, and so on. However, the observational research process is time-consuming. It might not always work out in the right direction, as researchers can’t control the environment.  One of the most strategic and particular market research forms is competitive analysis.  It is not only interesting but allows to discover innovative perspectives for product or service.  While comparing with the competitor, total content delivered in a month, type of content offered, SEO analysis, search ranking, social media presence, etc. can be analysed.  After a thorough analysis of these critical pointers:  Is there anything that your service lacks? If yes, what’s that, and how to solve it?  Think of how making business more engaging to drive more traffic. A noteworthy point for market research methodologies is sales data evaluation.  The sales data can help reveal the entire picture of the market research insights.Pairing it with other market research data, sales data will be significant for the researcher to track the scenario of action and results. Moreover, it is vital to understand the potential customers, their expectations, preferences that even change with time or environment, and buying habits. 5 : E-Commerce Ethics  Since e-commerce, which can be defined as the conduct of all or part of a business's marketing activities via electronic media such as the internet, affects social and commercial life and causes some changes in these areas, there is a need to reconsider the ethical rules related to these issues.  In terms of e-commerce ethics, there is both the adaptation of ethical issues mentioned in traditional marketing to the new conditions required by e- commerce, and the emergence of some completely new ethical issues due to the nature of the internet.  Ethics, in its simplest definition, can be defined as a set of rules used to distinguish right from wrong.  In other words, ethics is the branch of science that examines moral duties and responsibilities.  E-commerce ethics is the adaptation of ethical rules to electronic commerce.  In some sources, the term "netiquette" is used, meaning internet ethics.  Netiquette is formed by combining the English words "Net" (network) and "Etiquette" (ethics, morality).  One of the important features of ethical rules is that these rules can change over time.  Especially the impact of technological developments on commercial and social life requires the reconsideration of ethical rules related to these issues.  For example, one of the results of technological development is that one person's decision can affect a much larger number of people.  As technology develops and changes human life, ethical rules must also keep up with this change.  Ethical issues that come to the fore regarding online commerce:  Issues related to the security of transactions made online:  Providing personal information and credit card information to virtual companies whose reliability is unknown, and malicious people seizing information used while shopping from a reliable company. *Problems related to the security of data in companies’ databases: Problems such as unauthorized access to data in a company’s database can be considered in this context. For example, serious ethical problems arise when credit card information in the database of a company with hundreds of thousands of customers across the country is accessed by malicious people. * Lack of legal regulations regarding electronic commerce: In many countries, penalties for crimes committed via the internet are undefined or incomplete. In addition, the existence of different legal practices in different countries can be considered in the same context for electronic commerce, which has an international character.  Because, committing some virtual crimes using countries that do not have legal regulations regarding electronic commerce will not reduce the impact of the crime, but it may significantly reduce the amount of the penalty.  This situation is also an important ethical problem that needs to be solved.  Use of cookies: It is possible to track the user's personal information and activities on the internet thanks to small software called "cookies" placed on users' computers. Another important ethical problem that needs to be solved is that cookies, which have a purpose such as recognizing the same person when they enter a site for the second time, are not always used in good faith or that transactions and personal information are obtained without the user's consent thanks to these cookies.  Concerns about the ease of collecting personal information entered to become a member of a website on the Internet: The number of websites that operate with a membership system is increasing day by day. However, entering personal information on many sites increases the problems with the confidentiality of this information.  The necessity of specifying whether an article on the internet is informative or commercial: The amount of information available to users on the internet is increasing day by day. However, especially in some sectors such as health, education, and retail, concerns about whether the information provided is objectively informative or commercial, and sharing this with the user are also problems that need to be resolved ethically. *Not everyone has equal access to the internet (inequality of access): Since a healthy infrastructure requires significant investment, the internet is more common in developed countries. However, a large portion of the world's population still lacks an internet connection.  This difference, which occurs in terms of both personal and institutional connections, is called internet inequality. Not everyone has equal access to the internet, which leads to inequality among people, and this situation is considered unethical, especially in terms of equal opportunities. *Special problems related to certain sectors: Some sectors, such as the health sector, are very important for human life. Some practices that are not considered a problem in other sectors can cause serious problems in vital sectors such as health and security. For example, presenting a diet that can lead to fatal results without a doctor's control only with its positive aspects on a health website is an application that can be considered in this context.  Attempting to prioritize commercial sites on search sites. For example, when a search is made using any keyword on a search site, a result where commercial sites that charge a fee are prioritized, even though there are sites that are more suitable for the searched word, is an ethically debatable practice. *Copyright problems: For example, ethical problems such as imitating a famous brand's website name (www.trendyol.com) with another domain (www.trendyol.com.tr) or using addresses such as www.gogle.com to deceive people who misspell one of the letters when trying to type www.google.com can be considered within this scope.  The failure of ethical rules to keep up with the pace of change in the internet and similar technologies is also among the problems waiting for a solution. Because in some cases, a new form of transaction or marketing method is developed thanks to the rapid development of technology, but the development of ethical codes that regulate this situation is not as fast.  Privacy of Personal Information  Thanks to the internet, both the personal information that the user provides when registering to the site; and the records of their shopping and browsing on the websites are kept in the databases of the businesses, and thus, it is possible to offer a personalized shopping site or to reach customers with personalized commercial e-mails.  Itis even possible to share this information with other sites and offer products and services that are suitable for the habits of a customer even on a site they visit for the first time. This situation often benefits both the businesses and the customers, but it also brings with it some ethical problems.  Because, just like the records the customer enters, the records during their shopping are also personal, and not every customer wants their shopping records to be kept or known by others.  Many users are not aware that all mouse clicks and purchases made during shopping are recorded. Customer records during shopping are also personal, and not every customer wants their shopping records to be kept or known by others. It is also an ethically problematic issue for businesses to share information about consumers with other businesses.  Ifa commercial group with many shopping sites wants to use the data it obtained on one site about the user on a second site, in this case, the user will need to transfer the data entered for only one company to the other company.  Although it is well-intentioned, it cannot be said that this transaction is ethically correct to do without the user's consent. In addition, similar transactions are carried out with malicious intent, such as marketing personal information for a fee or harming people with the help of this information, and these are more obvious ethical problems in this context.  Inorder to minimize the ethical issues that will arise from these problems regarding the confidentiality of personal information, some basic rules should be observed:  Providing Information: The consumer must be informed that their information is being collected and for what purposes this information will be used.  Choice: The consumer must have the right to decide whether the information collected from them will be used for the specified purposes.  Access: The consumer must be able to see all of the information collected from them at any time.  Security:Businesses are responsible for the security of the information they collect. They must take the necessary precautions to prevent this information from falling into the hands of unauthorized persons and otherwise suffer certain penalties.  Regulations: In order to ensure compliance with the rules, legal regulations and self-regulatory rules of the business must be established.  MIS066 E-Business Management Asst Prof Merve Yurdabak 6: E-SCM E-SCM Supply Chain Management The management of the flow of goods, data, and finance related to a product or service from the raw material procurement process to the delivery of the product to its final destination. Supply chain and logistics should not be considered the same because logistics is only one component of the supply chain. Today's digital-based SCM systems include material handling and software capabilities for all parties involved in product or service creation, order fulfillment, and information  Supply Chain Management (SCM) is the integrated management of the flow of materials, information and money that ensures that the right product reaches the customer at the right time, at the right place, at the right price, at the lowest possible cost for the entire supply chain. In other words, it is the creation of strategies and business models that will increase customer satisfaction by ensuring the integration of basic business processes within the chain. Supply Chain A supply chain is the set of relationships and connections that enable the movement of products between suppliers, manufacturers, wholesalers, distributors, retailers and ultimately consumers. It covers all the successive links from the procurement stage of goods and services to production and delivery to the final consumer. From a business process perspective, the supply chain includes many areas such as the sales process, production, inventory management, material supply, distribution, procurement, sales forecasting and customer service. In supply chain management, Strategic level, where to produce and what the best sourcing strategy is. Tactical level, forecasting, planning, ordering short-lead materials and meeting production needs. Operational level, inventory distribution, detailed scheduling and what to do with an order when a machine breaks down are addressed.  Supply chain management uses advanced technology, information management, and operations research mathematics to plan and control an expanding mix of factors to better produce and deliver products and services to customer satisfaction. At the advanced level, it uses technical tools such as relational databases and similar programs.  In supply chain management, all functions that make up the chain must be integrated. A series of functions fulfill certain tasks in line with basic objectives in the delivery of products from the supplier to the end user: Demand and order management Purchasing Planning Production Inventory (Stock) management Warehouse management Shipping (Transportation)  Supply chains have existed since the earliest times, starting with the first product or service created and sold. SCM has become more complex with industrialization, allowing companies to produce and deliver goods and services more efficiently. For example, Henry Ford’s standardization of automobile parts revolutionized mass production and allowed him to meet the demands of a growing customer base. Over time, advances (such as the invention of computers) have made SCM systems even more complex. Yet SCM has remained a linear function managed by supply chain experts for generations.  But that has changed with the internet, technological innovation, and the explosion of a global economy driven by demand. Today’s supply chain is no longer a linear entity. It is a complex structure of different networks accessible 24 hours a day. At the center of these networks are consumers who want their orders fulfilled when they want them, the way they want them.  We are entering a period of global business and trade where technology is constantly evolving and customer expectations are rising. Today’s best SCM strategies require a demand-driven operating model that successfully brings together people, processes, and technology around integrated capabilities to deliver goods and services at an extraordinary pace.  While SCM has always been a corporate foundation, today the supply chain is more important than ever for business success. Companies that can effectively manage their supply chains to adapt to today’s ever-changing and evolving technology-driven business environment will survive and thrive. Industry 4.0 & SCM The application of today’s radical new technologies to manufacturing has been called Industry 4.0 or the “fourth industrial revolution.” In this latest step of industrialization, technologies such as artificial intelligence, machine learning, the Internet of Things, automation, and sensors are transforming the way companies produce, maintain, and distribute new products and services. It could be said that Industry 4.0 is built on the supply chain.  In Industry 4.0, the way businesses apply technology to their supply chain is fundamentally different from how they did in the past. For example, in the past, businesses would often wait for a machine to break down before repairing it as part of their maintenance function. Smart technology has changed that. Now, a failure can be predicted before it happens and steps can be taken to prevent it so that the supply chain can continue uninterrupted. Today, SCM is about using technology to make the supply chain and the business smarter.  Industry 4.0 SCM has significant advantages over traditional SCM because it provides significant cost savings while also facilitating planning and execution. For example, companies operating under the “plan production” model, where product production is tied as closely as possible to customer demand, must create an accurate forecast. To do this, many inputs must be taken into account in order to produce in line with market demand without overdoing production and causing costly excess inventory. Intelligent SCM solutions can simultaneously meet customer demand and financial targets.  The basic requirement for corporate customer loyalty is to be able to meet customer expectations quickly and accurately. In order to provide the product to the customer within a reasonable time frame, raw materials, production, logistics, trade and order management must all be coordinated. To achieve this, companies need to look at their supply chains through the eyes of their customers. The important thing is not to deliver the order to the customer on time, but to do everything right before, during and after the order is delivered. SCM Advantages Improves delivery performance Provides customer satisfaction Reduces inventory Increases order fulfillment rate Increases demand forecast accuracy Shortens supply cycle time Reduces logistics costs Provides efficiency and capacity increase  Increases customer satisfaction Ensures continuity of production by ensuring the supply of inputs Increases quality by meeting consumer demands in the best way Reduces total costs Enables quicker response to changes in the market  SCM- Cloud Since cloud-based applications are flexible and adaptable to change, cloud and SCM naturally complement each other in today's conditions. In today's corporate environment, problems such as an unexpected interruption in resource supply can constantly arise. It is quite difficult to respond to such problems with in-house and specially designed applications. Cloud solutions are naturally designed to better utilize the technologies that are becoming widespread in the Industry 4.0 model.  Retrofitting your environment so that these technologies can work with legacy applications is both complex and expensive. Another key benefit of integrating the cloud into your SCM system is being able to adopt specific elements of cloud-based SCM based on your business needs before making a full-scale transition. SCM-Blockchain It is necessary to know what is happening in every area of ​the supply chain at all times. A system that provides visibility and insight can be achieved by using blockchain. This provides traceability and trust opportunities throughout the supply network. It allows the company to make accurate predictions, increase visibility and profitability while managing a complex supply chain and creating a deep trust network between the company and its customers. SCM-Future The supply chain of the future is about responsiveness and customer experience, understood and managed as a network rather than a linear model. Each link in the chain must address factors such as sourcing, trade policies and shipping methods, and must be adaptable and flexible to the needs of the consumer.  Advanced technology will increasingly be used to increase transparency and visibility across this network, as well as to enable connectivity and SCM utilization. The entire SCM planning function will become smarter to account for consumer demands. Adaptability will be a must.  In the past, supply chain planning was a regular business practice. In the future, this practice will be continuous. Future SCM systems will increase the harmony between planning and execution, which is currently inconsistent in many organizations. The need for speed and accuracy in SCMs is constantly increasing. A supply chain supported by an Intelligent SCM system integrated with technologies will be ready for the future. 7 : E-CRM A CRM system collects, connects, and analyzes all customer- related data, including customer information, interactions with company representatives, purchases, service requests, assets, and quotes.  The system then allows users to access this data and understand what is happening at each touchpoint.  This understanding develops a complete customer profile and builds a strong relationship with the customer.  Customer data is collected for use in sales incentive modeling, sales forecasting, territory segmentation, campaign design, product innovation, and other sales, marketing, and customer service activities.  CRM tools and software help speed up the customer interaction process, generate more sales deals, build strong relationships with customers, build customer loyalty, and thus increase sales and profits.  E-commerce – Marketing – Customer Service  Customer relationship management draws its power from the method of continuously collecting customer data, analyzing that data, and then using that information to deepen relationships and improve business results.  It ensures that every employee who comes into contact with the customer conveys the message, “We know you and value you.” A data-driven set of CRM tools provides support beyond the sales process, which is crucial to business performance.  By gaining detailed customer insight, you can:  Introduce and sell new add-on products at the right time, in the right way, and at the right price.  Help customer service teams resolve issues faster.  Help development teams build better products and services.  CRM software supports strong and effective relationships with loyal customers through conscious and superior customer experiences.  What is the goal?  To increase customer acquisition and retention rates by providing experiences that provide customer lifetime value.  Customer relationship management is a strategy and tool that supports these experiences.  Customer relationship management helps you gain new customers, make sales to them, and build a loyal customer relationship with them.  These systems collect and organize many different types of customer data to better understand customers/prospects and answer (or predict) their questions.  Wrong decisions come from lack of access and interpretation of customer data.  Being able to store, track, and validate customer data in an automated system allows sales and marketing teams to optimize their customer engagement strategies and build better relationships.  Salesteam automation helps you sell faster by making sales more efficient.  The best CRM systems use artificial intelligence (AI) and aggregated customer data to automate the sales process by suggesting the best next actions to sellers.  Customers and prospects come through a variety of channels, including websites, social media, email, online/offline events, etc.  Many businesses struggle to connect marketing efforts across all of these channels.  By leveraging CRM systems, marketing teams can improve conversions, strengthen customer relationships, and align messaging across digital customer channels.  With customer relationship management, marketing and sales work better together to increase sales and revenue. When sales and marketing work together, sales productivity increases along with marketing ROI.  What is marketing ROI? It’s the return on investment (ROI) that marketing quantifies to justify how marketing programs and campaigns generate revenue for the business.  ROI is short for return on investment. And in this case, it is measuring the money that company spends on marketing campaigns against the revenue those campaigns generate.  Before starting any new campaign it's important to understand numbers.  Today’s marketing is no longer a simple matter of “getting traffic.” It’s a complex process with multifaceted strategies across digital and traditional platforms.  To make informed decisions about where to spend time and budget, you need to know the cost of each strategy. Once you understand your marketing costs, you can make better decisions to create revenue streams that make your business more profitable.  Customer lifetime value is the total worth of customer’s business throughout the entire duration of their relationship with your company. It is an important metric because it costs less to get more business from an existing customer than to acquire a new one, so focusing your marketing efforts on your existing customers is a great way to drive growth.  Today, customers have access to almost unlimited information.  With just a few clicks, taps, or swipes, they can access publicly available information about brands and products, including reviews and perspectives from other users.  With social media, individuals can direct their own audiences.  One person’s negative experience can have a huge impact on the perception of the brand in the larger context. This makes it easy for customers to form independent opinions and not be interfered with in any way.  Not only do customers have the tools to make their own decisions about what to buy, they also have more choices than ever before about where to buy.  And thanks to the digital transformation that has taken place across the world between 2020 and 2021, switching to another brand has never been easier.  According to McKinsey: 40% of consumers said they switched brands during the pandemic, citing price, value, and relevance as the top reasons for switching.  1.Customers: The overall goal of a CRM strategy should be to help you become a customer-centric business.  Who are your customers? How do they prefer to interact with you? Is this audience local, regional, or global?  Are they open to testing and experimentation or risk- averse? What role does your brand play in the daily lives of this audience?  2. The Offer: What exactly are you selling? Is it a simple, easy-to-understand offer? Or is it complex enough to require consultative support from your sales team? How does it stand out compared to competitor offerings? Such details help you understand how your product or service impacts customer perceptions and how your strategy can help improve those perceptions.  3. Revenue Model: Customers are the source of revenue that keeps a business running. Therefore, your CRM strategy should focus on the revenue model.  Do you sell one-time, high-value products to each customer, or do you need to retain and renew customers so that you can sell on an ongoing basis?  Do you operate on a subscription model that requires constant communication with customers?  What are your sales channels, and what unique requirements do they require (like taxes and currency conversions)?Your CRM strategy should be structured around how your revenue functions work.  4. Sector: A customer relationship management strategy should be implemented considering the nature of the sector.  Are there very strict regulations ?  Are there a few dominant players or are brands making it difficult to compete?  Are there challenges that customers personally care about, such as environmental impact?  5. Stakeholders: It is important to know which departments and managers need to collaborate to implement the strategy.  Marketing, sales, and customer service teams are the teams closest to the CRM process, but they are not the only teams affected.  Leaders who need to be informed: IT team who will help implement CRM technology, HR team who will help with employee training, and all internal organizations that need to be involved.  Theultimate goal of the Marketing 4.0 concept is to move customers from awareness to advocacy.  Brands need to be physically attractive, intellectually impressive, socially engaging and emotionally captivating, while also exhibiting strong friendliness and ethics, ultimately taking a human-centered approach.  In order to adapt to changing consumer behaviors in the digitalizing world, emotional closeness to the brand must be provided through participation marketing.  In order to enrich the digital customer experience, mobile applications, a social media enriched with chat and comments, and gamification techniques should be used to encourage targeted customer behaviors (Kotler et al., 2017).  The Marketing 5.0 approach means implementing technologies that mimic humans to create, communicate, deliver and enhance value throughout the customer journey.  A group of technologies that aim to mimic the capabilities of human marketers is the fundamental concept in this approach.  These technologies include artificial intelligence, natural language processing, sensors, robotics, augmented reality, virtual reality, the internet of things and blockchain technologies.  The combination of these technologies is the enabler of Marketing 5.0.The important point here is that companies need marketers who know how to use the right technology with the right strategy.  The basis of this new approach is not technology but people. The aim is to correctly recreate customer experience processes with new technologies. 8 : BPM  The main goal should be to ensure transparency of the business process that results in the delivery of products and services.  This transparency can be achieved by documenting the business process, the activities they perform, the events that affect progress, the decisions made, and the information produced and consumed.  Information systems that explicitly support business processes are often referred to as information systems that provide process awareness.  Office automation systems, workflow management systems, and more recently business process management systems support process execution based on the specification of the process as a formal business process model.  Business Process Management (BPM) is concerned with all management activities around business processes.  In the past, activities related to business process management were performed by process analysts, process managers and process engineers with almost no automated support, except for the creation of the system configuration from the executable process model.  Later, various techniques were developed to provide intelligent support to process stakeholders at various stages of business process management.  Business Process Management is the discipline that brings together knowledge from information technology and management sciences and applies it to operational business processes.  This discipline has attracted great attention in recent years due to its potential to significantly increase productivity and reduce costs.  These systems are general software systems driven by open process designs to implement and manage operational business processes.  BPM is often associated with software to manage, control and support operational processes. A process is a collection of labor, equipment, materials, methods, and environmental elements that interact with each other to produce a specific output (product or service).  A business process is a collection of activities that take one or more types of inputs and create an output that will create value for the customer.  According to this definition, for example, “order fulfillment” is a process; in this process, an order is taken as input and the process is completed by delivering the product to the customer.  Processes arise from the analysis of successive state changes. A process is a series of activities that transform inputs into outputs by changing the state of one or more related entities.  Processmanagement is a series of activities carried out to ensure continuous and regular monitoring and development of processes.  Integration-oriented BPM: This type of business process management focuses on processes that do not require much human intervention. These processes are more dependent on data integration in systems such as human resources management (HR) or customer relationship management.  People-oriented BPM: Unlike integration-oriented business process management, this type often involves human intervention, which requires approvals. It allows teams to assign tasks to different roles, facilitating accountability for people throughout the process.  Document-oriented BPM: This type of business process management focuses on a specific document (such as a contract). When companies purchase a product or service, they must go through several approval stages in order to reach an agreement between the customer and the vendor A successful business process management system starts with defining the stages within a workflow.  This helps the team identify areas for improvement and metrics to track progress.  By implementing business process management, organizations can improve their operations, resulting in better results. To do this, it is necessary to fully understand the business process management lifecycle.  Process design: Identify the key events in the process. Tasks in business process management should be determined. Steps should be clearly defined.  Modeling: A visual of the process model should be created. Details such as timeline, task descriptions, and data flow within the process are also included. Using business process management software is useful at this stage.  Execution: The new business process management should be tested with a limited group and a proof of concept should be performed. After feedback is included, the process can be made available to a wider audience.  Monitoring: At this stage, the team should monitor the process, measure improvements in efficiency, and identify any additional problem points.  Optimization: In the final step, final adjustments to the process are made to increase business efficiency.  Increased efficiency and savings: BPM systems help optimize existing processes and include more structure in the development of new processes. They do this by eliminating redundancies and pain points in the process, contributing to increased efficiency and productivity. With greater agility, businesses can achieve their targeted results faster and allocate excess resources to other high- priority tasks.  Improved employee and customer experience: A suite of BPM tools helps eliminate repetitive tasks and make information more accessible. By eliminating distractions, employees can focus on their work and their customers. Increased customer satisfaction,clearly defined workflows also shorten the learning curve during employee onboarding, improving productivity and engagement.  More scalable processes: BPM provides better process execution and workflow automation, which is beneficial when scaling processes to other parts of the world. Business process management tools provide clarity on roles, ensuring consistency across the process, and uncover opportunities to incorporate business rules for automation, allowing teams to focus more on innovation.  More transparency: Business process automation increases accountability and transparency throughout a process because it clearly states who owns tasks throughout the process. This means more communication between teams.  Reduced dependency on development teams: BPM offers low-code features that eliminate the possibility of dependency on the development team. Business users can be quickly and easily assigned to these tools, increasing process automation across the company.  Content distribution: Media companies can use BPM to automate the content preparation and delivery process from content creation to distribution. A business process management system can be designed to interact with content management, rights management, content trafficking, and work order systems.  Customer service: Customer service representatives can reduce the burden on their team when there are a large number of service requests by identifying frequently asked questions that chatbots will answer. Transcript data from call centers and chatbots can also help further automate processes and provide more personalized responses for customers.  Finance: Companies can create templates to standardize purchase order submissions from various teams and ensure faster procurement of business software or hardware.  Human Resources: HR can use BPM to streamline document and workflow management. It provides a more structured environment for processing HR forms such as hiring and firing employees, performance reviews, leave requests, and scheduling approvals. 8 : E-Marketing  Digitalmarketing means creating and disseminating content across digital media channels (websites, landing pages, social media, email, and mobile apps), as well as promoting that content through various strategies across paid, earned, and owned digital channels, such as SEO (search engine optimization), SEM (search engine marketing), pay-per-click (PPC) advertising, content partnerships, social, email, and text messaging.  Digital marketing strategies help marketers define goals, target an audience, and develop a digital marketing plan that best reaches that audience. These strategies provide the framework for evaluating results while guiding a specific campaign or program.  Digital marketing is integrating into nearly every aspect of business and fundamentally changing the way companies communicate with customers and deliver value.  In the ever-growing global online marketplace, it is impossible to achieve competitive advantage without a digital marketing strategy.  Emailmarketing is one of the oldest and most well-known forms of digital marketing used by B2B and B2C marketers. Email marketing collects customer data across various customer journey touchpoints, categorizes potential customers to understand their preferences, and ultimately grants them permission to add them to your email list(s).  Email content can include information about products and services, news about the company and events, personalized offers, customer success stories, links to case studies, and technical or business briefs. Providing value is critical to getting emails opened and read rather than deleted immediately. Personalized content and engaging offers are key to increasing engagement.  Video marketing: Video is one of the most powerful digital marketing channels. People watch and share videos for entertainment and research.  YouTube reports that over two billion viewers log in per month. It is effective in the purchasing decisions of both B2B buyers and B2C consumers. Video marketing creates brand awareness, increases digital traffic and conversion rates.Sharing videos is the key to getting more content seen.  Social media marketing: is an effective way to reach a specific audience; to connect directly with customers, potential customers and business partners.  Which social media platforms to use depends on who the target audience is.  Facebook is still the largest social media platform in the world.  X is still popular with B2B buyers  Instagram and TikTok are popular with millennials and Gen Z consumers.  LinkedIn is an effective place to connect with B2B buyers in the early stages of the buying cycle.  As different platforms continue to emerge, marketers should constantly adapt their digital marketing strategies to make the most of each platform that exists.  For example, TikTok did not exist until September 2016. Today, LinkedIn has more active users than X, Pinterest and Snapchat.  Content marketing: allows you to speak to different potential customers and clients in a personalized way while presenting your message.  The more personalized the content, the more engaging it is, the more it attracts people and keeps them paying attention. However, content must be aligned with the audience’s purpose and interests. It must provide value for engagement and conversion.  Content can be used in email text, landing pages, infographics, e-books, business briefs, videos, text messages, ads, newsletters, press releases, articles, blogs and digital postcards. Content can (and should) be used across channels, but there should be a consistent tone and message across all content.  SEO: A good search engine optimization (SEO) strategy optimizes website content. This way, it ranks higher and appears more frequently in search results, increasing traffic to the content.  Good SEO results depend on keyword and page optimization. Getting organic links from highly respected third-party pages is another way to increase page rank and direct potential customers to your content. In pay- per-click (PPC) advertising, you are paid for each click on a specific link.  Search engines and most social media sites offer PPC opportunities. PPC ads appear in the content feeds of targeted customers and potential customers.  Search engine marketing (SEM) is a type of PPC advertising that can have a big impact. The search engine is paid to display marketing messages (text) and links in an advantageous page location to visitors searching for certain keywords.  Website: is often the first point of contact where potential customers come into contact with the company and brand.A successful web design can promote all digital assets with consistent branding.  The website should also be more compatible with search engines, provide a user experience and increase conversion rates (more clicks, signups, etc.).  Display advertising: Marketers can display engaging ads on third-party sites to reach more potential customers. Banners, sidebar boxes, video ads, and interactive ads that link to one of the websites or landing pages can be used for this purpose.  Affiliate marketing:Many bloggers and famous social media users are affiliate marketers because they use their blogs and social media accounts to promote different products and services. This is a type of performance- based marketing. Affiliate marketers earn commissions for promoting certain products. The more visitors and customers the affiliate brings, the more money they make.  1. Define marketing goals:Digital marketing is a broad field, so it’s important to define your goals before you start a digital marketing campaign. Are you looking to build brand awareness? Acquire new customers? Focus on customer retention and loyalty? Outlining goals will help you organize your strategy and budget for maximum impact.  2.Define target audience:Who are we trying to attract? Finding more details about your target audience (age, location, income, etc.) will make it easier to determine how to connect with them.  3. Determine the right marketing channels and marketing tactics:You need to decide how (and how much) you want to reach consumers.A B2C digital marketer trying to connect with younger customers should allocate most of their effort and budget to social media advertising on specific platforms rather than blogging.  4. Develop content and messaging for each channel:Analyze data and learn as much as possible about your target audience. For example, if you know that customers prefer to use phones to browse the web rather than laptops, the content you deliver to them should be optimized for mobile viewing. But that may not be enough. Customers interact with brands in a nonlinear way across channels, so you need to ensure that each piece of content conveys a consistent tone and message. Consistency prevents confusion about brand identity and value.  5. Campaigns:Measuring results throughout the process allows you to connect with customers, build loyalty, and create brand advocates.  The world-renowned brand advocate: Harley Davidson brand community  Used to measure marketing campaigns. Digital marketers can use a number of key performance indicators to track results.  Determining which specific digital marketing key performance indicators to use when working on a strategy can help set goals and objectives:  Visitors returning to the website. Visitors returning to the website/landing page to consume more content or take a specific action indicates engagement.  Web traffic sources. Shows how people found the website/landing page and how they interacted with it.  Total number of visits. The number of browsing sessions per site visitor.  Total number of unique visits. The number of people who visited the website/landing page.  Click-through rate. The percentage of people who clicked on the link.  Average time on page. The average time spent by all users on a single page.  Return on marketing investment (ROI) The amount of revenue a marketing campaign generates compared to the cost of running it.  It adopts a data-first approach. Having more data and making better use of it helps to understand customers better and better predict their expectations.  It makes maximum use of automation and decision support systems. Marketing automation is needed to record a huge amount of data and provide real-time service to customers.  Ittreats each customer uniquely, differently and appropriately. It uses data obtained from micro moments for customer analysis. In this way, it creates a more connected experience.  Micro moment: It is the real-time interaction with the brand that the consumer initiates with a single click. It adopts multi-channel communication. It is necessary to be ready to interact with customers in all channels and in real time and to keep up with them by switching from channel to channel.  Customers want personalized treatment.Customers control the market. They decide when, where and how they interact with the brand. They want a seamless experience and the ability to start a conversation on any channel and seamlessly move the conversation to a different channel.  They want to receive the most convenient service in the shortest possible time.The walls between B2C and B2B are breaking down. People want to see the same positive experiences they had in B2C in B2B.  B2ME (business to me): customer experience (marketing 4.0 -5.0) 10: Digital Transformation & Change Management  Today’s world becomes extremely digital and businesses, from small to the enterprise, have to keep up with the changes.  Digital transformation means operational and cultural changes of business through the integration of digital technology into all sectors of a company.  Globalization in recent decades has placed increasing pressure on businesses to change.  This requires businesses to efficiently integrate to not only stay alive, but thrive in competitive environments.  Efficient integration can only be achieved through digital processes and collaborative tools.  With this being the case, the importance of digital transformation (DT) has increased.  DT should be included into the existing business perspectives, as this topic addresses much more than just technological shifts and affects many or all segments of business:  Successful business transformation is achieved by simultaneously exploiting and exploring what it offers to achieve organizational agility.  Digital transformation commonly affects such business areas as: Business functions: operations, administration, human resources, marketing, customer service, etc. Business processes optimization and automation. Business models: changes in value propositions, revenue stream, and even transformation of the whole concept of how a business makes money.  Business asset: customers and information become real assets as the common goal of digital transformation is an enhancement of customer satisfaction and the information is a foundation of any digital change.  Organizational culture: when a company becomes digitalized, it accepts the new, IT culture which includes agile methodology, design thinking, and consistent change. All of that changes interactions and operations as well as the culture of the company.  Ecosystem and partnership models: entirely new business ecosystem approaches will emerge, causing new business models and revenue sources. Customer, worker, and partner approaches: digital transformation puts people in the center. The transformation itself is done to enhance the customer experience, workspaces, and workflows. As a result, interactions will be affected too, creating new ways we communicate with customers and cooperate with partners and co-workers.  Disruptive changes, understood as changes in a company and its operating environment caused by digitalization, possibly leading to the current business becoming obsolete(old fashion) , trigger DT in different environments due to rapid or disruptive innovations in digital technologies.  These changes create high levels of uncertainty, and industries and companies try to adapt to these new environments through different options, for example, when banks implement e-banking to gain competitive advantages over their competitors.  This implementation emphasizes the importance of DT for staying competitive in a digital economy.  Digitalization also provides productivity improvements, cost reductions, and innovations that also “influence” DT.  Moreover, DT not only produces changes in an industry, but impacts societies as well. Therefore, as the importance of DT becomes clearer and clearer, it is simultaneously accompanied by high expectations placed upon it.  Digital transformation is the process of using new technologies and business workflows to optimize, automate, and otherwise modernize an organization’s business operations.  Updating technological tools and approaches in this way helps organizations to improve internal processes, increase efficiency, and function with a greater level of flexibility and agility. This in turn enables businesses to quickly and effectively address any challenges that arise, now and in the future. Digital Disruptors: Innovations in digital media, data and marketing technology that enable a change to a new basis for competition in a market or across markets. Disruptors are also used to refer to startup or existing companies that impacting competitors through disruption.  Digital transformation doesn’t just involve updating technological systems and processes, however. It also involves changing organization’s mindset about the technologies and workflows it uses.  Digital transformation might entail moving all employees from onsite work to remote, cloud-based meetings and collaborations. It might entail shifting the reporting from analog processes to automated, intelligent ones that utilize vast collections of data and run on cloud technology. And it might entail adopting new ways of interacting with customers, like using automated chatbots and self-service portals.  Digitization is the conversion of physical or analog data into digital data to eliminate paper, easily store information, and reduce human errors. Scanning financial records and storing them as PDFs on a computer or cloud server is an example of digitization. Digitalization is the automation of business processes in the name of efficiency and boosting your bottom line. Adopting a project management tool to improve the tracking, communications, and version control of creative projects is an example of digitalization.  Competitors are doing it. Forrester says that 47% of organizations’ revenue is influenced by digital.  Profits. According to Gartner’s survey, 56% of companies report that digital transformation had a positive effect on their revenue.  Effectiveness. Digital technologies optimize business processes and increase a company’s productivity.  Customer satisfaction. Your customers are already drowned in the digital world. They communicate with their homes and buy stuff in messengers and social media. And they want your company to be a part of their digital environment.  McKinsey&Company have done the survey of the companies who have done a digital transformation: Regardless of the results of the digital transformation, the companies have common traits in its implementation.  First, 68% of companies started from digitizing the organization’s operations. Less than 50% say their objective was digitalizing the interaction with external partners or launching new products or services.  Eight in ten respondents say their transformation involved either some of the business segments or the whole organization.  Lastly, the companies who succeeded in digital transformation deploy more technologies than others do, including most popular web tools, cloud technologies, mobile technologies, and big data.  This might be hard to except as it gives more opportunity to fail and makes the transformation process more complex. But the organizations who succeeded in transformation used more advanced technologies, such as artificial intelligence, machine learning, and the Internet of Things.  Improves operations  Helps accelerate business growth.  Enables flexible, remote, and hybrid work.  Optimizes operational costs  Unifies business communications.  Empowers employees.  Engages customers more deeply.  Enhances security.  Improves resiliency and agility.  Drives sustainability.  Shiftingfrom physical entertainment media to streaming.  Moving to real-time, internet-based communications.  Accelerating innovation across hybrid, remote, or dispersed teams.  Improving the customer experience.  Migrating from physical data storage to the cloud  Mining company data for more intelligent insights.  Rise of Artificial Intelligence Development of advanced AI technologies like machine learning and natural language processing. Automation of processes and gaining insights from data analytics for crucial aspects of business such as procurement and vendor management. Use of AI-powered chatbots for customer service. Smart algorithms for informed decision making.  Focus on data privacy and security Increased awareness of personal data usage and sharing by organizations. Implementation of stricter data regulations. Integration of social media and E-commerce Evolution of social media platforms into marketing and sales channels. Ads targeting specific customers and influencer marketing. Change in consumer shopping behavior and online marketing strategies.  A successful digital transformation strategy needs a clear vision and a good amount of investment in digital infrastructure.  Recognizing key factors for technological betterment, such as customer experience or operational efficiency, and having realistic goals are important.  This strategy should be combined with adopting secure agile systems. Additionally, prioritizing employee training and ensuring they have a smooth transition into new technologies is equally important.  Change management is a systematic approach to dealing with the transition or transformation of an organization's goals, processes, or technologies.  The primary objective is to implement strategies that ensure the changes are smoothly and successfully carried out, while also addressing the human side of change.  Understanding Change: Change can be internal or external, planned or unexpected. It might involve adopting new technology, restructuring an organization, or responding to external market conditions. Recognizing the type and scale of change is the first step in managing it effectively.  Communication: Clear and consistent communication is vital. Stakeholders need to understand why the change is happening, what benefits it will bring, and how it will impact them. Effective communication reduces resistance and builds trust.  Stakeholder Involvement:Involving employees, managers, and other stakeholders in the change process fosters engagement and