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Essay / Research Paper Abstract
A 20 page paper discussing points that need to be considered when adding an electronic commerce component to a standard retail operation, or when beginning a new business with both virtual and physical shopping locations. The paper discusses best practices and whether to make or buy the software that will drive the electronic commerce side of the operation. It also compares the virtual and physical locations, benefits to business and benefits to society. The virtual store is unlikely ever to totally replace the physical brick-and-mortar form. Virtual and physical forms complement each other well, however, providing that the business retains focus on the source of its good fortune, the customer. Bibliography lists 11 sources.
Page Count:
20 pages (~225 words per page)
File: CC6_KSebizDevImple.rtf
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Unformatted sample text from the term paper:
Amazon.com finally has shown a profit! After years of losing money hand over fist and persuading investors to provide even more venture capital funds, the etailer has
done something more positive than only slowing the rate at which it lost money. Amazon.com took six years to turn a quarterly profit in 2002; 2003 was its first
profitable year. At the other end of the spectrum is Dell, which authored the direct sales business model for computers. Ingeniously, the
company built only those computers for which it had paid orders, using the customers money to finance the activity. What each of these
companies has in common is that they offer superlative products of high quality; they make their sites easy to use; and they make themselves available to customers. Certainly these
are three "best practices" associated with e-business and demand the attention of any brick-and-mortar business that would transform itself to the click-and-mortar form. Best Practices
In 2000, the cost of acquiring a single new customer was estimated to be between $50 and $300 (Gartner Group gives e-tailing guidelines 2000). It is unlikely
that any customers single order will allow the etailer to recoup the cost of finding him, so it is critical that the company build customer loyalty as soon as possible.
Those involved in e-business must create a reason for buying customers to return and to buy additional products. Online merchants and wholesalers achieve this goal by being more
convenient than local shopping and absolutely trustworthy in every aspect of any single transaction. Customer Assurance Any successful e-business must be able to
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