ME 103 E-Commerce & Internet Marketing

ME 103 E Commerce and Internet Marketing Group Leader: Rovy Panganiban Anamie Arroyo Ma. Victoria Bonganay Marjorie Caballero Rheamae Suzette Salaya Ashley Baylon Topic 1 Introduction **Rules of Internet** **Advantage and disadvantage of E Commerce** **Global Trends** **The present and...

ME 103 E Commerce and Internet Marketing Group Leader: Rovy Panganiban Anamie Arroyo Ma. Victoria Bonganay Marjorie Caballero Rheamae Suzette Salaya Ashley Baylon Topic 1 Introduction **Rules of Internet** **Advantage and disadvantage of E Commerce** **Global Trends** **The present and future of internet marketing** **Online equivalence of traditional technique** **THE RULES OF INTERNET** Respect other people and their opinions. Do not engage in cyberbullying or harassment. Protect your personal information and privacy. Follow copyright and intellectual property laws. Be mindful of what you post online as it can be a permanent and easily shared. Do not engage in illegal activities online. Use strong passwords and be cautious of phishing scams. Do not spread false information or engage in misinformation. Report any inappropriate or harmful content to the proper authorities. Use the internet responsibly and consider the impact of your actions on yourself and others 11 Advantages and Disadvantages of eCommerce for Businesses 11 Advantages and Disadvantages of eCommerce for Businesses By Deepika. \| Mar 27, 2023 \| Domestic Shipping, Ecommerce In today's digital age, eCommerce has become an essential component of the global economy, allowing businesses of all sizes to reach new markets and customers. eCommerce refers to the buying and selling of goods and services online. It involves using websites, mobile apps, social media, and email to facilitate transactions between buyers and sellers. The importance of eCommerce for businesses cannot be overstated. It offers a range of benefits that can help companies grow and succeed. However, as with any business model, eCommerce also has its drawbacks. For example, it poses security risks and requires businesses to depend on technology, which can be expensive and complex. **Advantages of eCommerce for Business** Wider Reach and Market Accessibility Cost-Effective Operation Improved Customer Engagement Convenient for Customers Personalization and Customization Easier Management of Inventory Availability of Data and Analytics Improved Conversion Rates Ability to Operate 24/7 Flexibility and Scalability Integration with Other Business Systems **Disadvantages of eCommerce for Business** Security Risks Dependence on Technology Increased Competition Customer Service Issues Lack of Physical Interaction with Customers Shipping and Handling Challenges Difficulty in Establishing Trust Limited Sensory Experience Inability to Inspect Products Legal and Regulatory Compliance Initial Investment and Ongoing Maintenance Costs **Wider Reach and Market Accessibility** The market is incredibly diverse, and reaching out to customers in different regions can be challenging for physical stores. With eCommerce, you can reach customers who live in remote or rural areas where traditional brick-and-mortar stores may not be accessible. **Cost-Effective Operation** Operating a physical store can be expensive due to high real estate and rental costs, especially in prime locations. **Improved Customer Engagement** With the rise of social media and other digital platforms, customers have come to expect higher engagement from businesses, and eCommerce provides an avenue to meet these expectations. **Convenient for Customers** Convenience is one of the key factors influencing customer decision-making in India, and eCommerce platforms offer several features that can make the shopping experience more comfortable and convenient for customers. eCommerce platforms in India offer 24/7 accessibility, meaning customers can shop anytime and from anywhere. Personalization and Customization Personalization and customization are significant advantages that eCommerce offers for businesses in India. By analyzing customer behavior and preferences, businesses can tailor their products and services to meet their needs, creating a more personalized and satisfying shopping experience. Easier Management of Inventory Inventory management can be challenging, especially in a large and diverse market like India, where customers have different preferences and needs. **Availability of Data and Analytics** eCommerce platforms allow businesses to track customer behavior, preferences, and demographics, providing valuable insights into the market and operations. **Improved Conversion Rates** Conversion rates measure the percentage of visitors to your eCommerce store who make a purchase. Increasing conversion rates is essential for any eCommerce business, as it can help drive more sales and revenue, leading to a more profitable and sustainable business. **Ability to Operate 24/7** Operating an eCommerce business in India provides the flexibility to cater to a diverse audience. With an online store, your customers can shop at any time of the day, which is not possible with a physical store. **Flexibility and Scalability** The market constantly evolves in India, and customer preferences can change quickly. As an eCommerce business owner, it is crucial to have the flexibility to adapt to these changes and stay relevant in the market. **Integration with Other Business Systems** Integrating eCommerce platforms with other business systems is critical in India, where business processes can be complex. **Disadvantages of eCommerce for Business** **Security Risks** The risks of security breaches and online fraud have also increased with the increase in online transactions. Cybercriminals can use various tactics to access sensitive customer data and business information, such as hacking, phishing, and malware attacks. **Dependence on Technology** eCommerce businesses depend highly on technology, including web development tools, hosting services, and online payment systems. Therefore, any technical issue or system outage can disrupt operations and result in a loss of revenue. **Increased Competition** The growing popularity of eCommerce in India means that businesses must compete with many online retailers, including established players and new entrants. This can make it challenging for businesses to differentiate themselves and attract customers. **Customer Service Issues** Providing excellent customer service is critical to the success of any eCommerce business, and it can be challenging in the Indian market. **Lack of Physical Interaction with Customers** Unlike traditional retail stores, eCommerce businesses in India have limited opportunities for face-to-face interactions with customers. **Shipping and Handling Challenges** Shipping and handling can be a significant challenge for eCommerce businesses in India. The vast geographic area, poor infrastructure, and regulatory restrictions can make timely and cost-effective delivery difficult. **Difficulty in Establishing Trust** Building trust is critical to the success of eCommerce businesses especially for new entrants in the market. Customers may be hesitant to purchase from an unknown brand or website, particularly if they have concerns about the security of their personal information or the quality of the products. **Limited Sensory Experience** eCommerce businesses are limited in their ability to provide a sensory experience to customers. Customers cannot touch, smell, or taste products, which can be a disadvantage, especially for food, clothing, and cosmetics. **Inability to Inspect Products** Another disadvantage of eCommerce for businesses is the inability to inspect products before purchase. **Legal and Regulatory Compliance** eCommerce businesses are subject to various legal and regulatory compliance requirements, including data privacy, consumer protection, and tax laws. Non-compliance can result in hefty fines and legal issues, which can be challenging for small and medium-sized businesses. **Initial Investment and Ongoing Maintenance Costs** Setting up an eCommerce business in India requires a significant initial investment in website development, technology infrastructure, and marketing. Ongoing maintenance costs, such as website hosting, security, and updates, can also add up. **What is global trends?** Global trends refer to patterns or movements that occur on an international scale and have significant impacts across multiple regions or countries during a specific time period **What are the top 3 global trends?** The United Nations identified three mega-trends related to globalization: shifts in production and labor markets, rapid advances in technology, and climate change. **The present and future of internet marketing** Internet marketing is continually evolving and changing as technology advances and consumer behavior shifts. Some key trends and developments shaping the present and future of internet marketing include: 1. Mobile optimization: With the majority of internet users now accessing content and websites on mobile devices, it is essential for businesses to optimize their digital marketing strategies for mobile users. This includes responsive website design, mobile-friendly email campaigns, and mobile advertising. 2. Personalization: Consumers expect personalized experiences from brands, and internet marketing is no exception. Personalization can take many forms, such as personalized email campaigns, tailored advertisements based on user behavior, and customized website content. 3. Video marketing: Video content continues to grow in popularity, with platforms like YouTube, TikTok, and Instagram leading the way. Video marketing offers a highly engaging way to connect with audiences and can be used across multiple channels, from social media to email campaigns. 4. Artificial intelligence and machine learning: AI and machine learning technologies are increasingly being used in internet marketing to automate tasks, analyze data, and personalize experiences. These technologies can help marketers make more informed decisions and improve the efficiency of their campaigns. 5. Voice search optimization: As voice search technology like Siri, Alexa, and Google Assistant becomes more prevalent, businesses will need to optimize their digital content for voice search queries. This includes using natural language keywords and creating content that answers common voice search questions. **Online equivalence of traditional technique** The online equivalence of traditional techniques refers to using digital tools and platforms to achieve the same results that were typically achieved through offline methods. For example, holding virtual meetings instead of physical face-to-face meetings, using online surveys instead of paper surveys, and conducting e-learning courses in place of traditional classroom settings. Some examples of online equivalence of traditional techniques include: \- **Online shopping**: Instead of going to physical stores, many people now prefer to shop online for convenience and a wider selection of products. \- **Remote work**: With the rise of telecommuting, many employees are able to work from home using online collaboration tools and platforms instead of commuting to an office. \- **Virtual events**: In place of in-person conferences, seminars, and workshops, many organizations are now hosting virtual events using video conferencing technology. \- **E-learning:** Instead of attending traditional classroom-based courses, students and professionals can now access online learning platforms to acquire new skills and knowledge. https://dictionary.cambridge.org/us/dictionary/english/global-trend https://www.8ways.ch/en/digital-news/evolution-digital-marketing-past-present-future\#:\~:text=The%20future%20of%20digital%20marketing,customer%20segmentation%2C%20and%20ad%20targeting. https://ejournal.undip.ac.id/index.php/psikologi/article/download/32315/pdf https://dictionary.cambridge.org/us/dictionary/english/global-trend