1. Imagine that someone has offered you $1,000 to buy your domain name shortly after you started your business online. Explain why or why you would not sell and cite the ethical dilemmas involved.
The first thing I would do is try to determine the value of my domain name. I would want to see if it is worth $1000 or more. There are a variety of ways to determine the value of your domain name. The first one is to obtain a free appraisal from an online forum such as Digital Point or Nameslot, try an experienced domain trader, use an online domain valuation tool such as Valuate or Swift Appraisal, or pay for a professional appraisal from a site such as Sedo or Domain Appraisal. After this I would compile a list of resources where I can look through Domain Names on sale and get a general idea of what they're going for. I also need to see if I can find a new domain name for my company. A domain name, or Web address, is an address where you can be found online. It's how you'll express yourself through email or your website and it's what customers think of when trying to find you. When choosing the proper domain name for your website, you will want one that allows customers and Web users to locate you and your business quickly. If I sold my domain name it could impact my business in a negative way. My business would be harder to find, I could damage what credibility I already have; so no I would not sell my company's domain name for $1000 or any amount of money.
2. The e-Commerce software you will be using must provide a catalog display, shopping cart capabilities, and transaction processing. The convenience and usability for the customer are benefits of these functions. State how each of these functions could be beneficial to your business.
A-Catalog display- Catalog is a business' primary way to put across information on their products to their customers. A catalog may have just about any appearance; the main thing is that it must be convenient and available to the customer. The goal is common - boost sales, conversion, return on investment campaign or presentation.
B-Shopping Cart Capabilities- is a series of scripts that keep track of items a visitor picks to buy from your site until they proceed to the checkout. One of its benefits is all the customizable features, enabling the program to be set up to the meet the needs of you and your customers. Whether it's something simple like, organizing your products in a catalogue or choosing how payments will be processed, the shopping cart grants complete authority over your online store. The shopping cart is an absolute must in e-commerce, as it offers allot of benefits to power your business. Even though you might shut down the home office at a certain time every day, your e-commerce business never has to close, as the shopping cart is always available. Aside from giving your customers the option of how their items are shipped, the shopping cart also gives them flexibility with payment methods as well. The shopping cart software makes it easier for the seller as well because he does not have to keep track of numerous orders. It allows him to see everything a buyer ordered at one time. A shopping cart is also connected to online inventory so that a seller knows if he has enough of the product to fulfill his orders. It also allows him to track what customers have bought and thus know what may interest a customer for the future
C- Transaction processing- is a class of software programs capable of supporting transaction-oriented applications on the Internet.
An online transaction package is a secure, encrypted server that financial transactions "pass through" to banks or merchants. This feature verifies the purchaser's information and is designed to provide security and protect the purchaser from fraud or identity theft. Online transactions are verified by a third party, verification organization or banking institution. A legitimate online business usually has a certificate of certification for financial transactions located on their website.
3. Your business will have created a presence in the physical world by having a store along the boardwalk. Assess how you will create an effective presence on the Web, meeting the objectives listed in Chapter 3. Be sure to include how you would improve Web presence by increasing Website usability.
As a business owner, you can create a strong Web presence in several ways. The benefits include increased traffic and customer interest, as well as better communication with your customers. When you create a strong Web presence, continue to use it to maintain customer loyalty and interest, also the more places that a potential client finds you on the Web the better. Building a strong Web presence involves branching out beyond your website to maximize your chances of being discovered by new clients. Demonstrate your expertise on Facebook, LinkedIn and Twitter. Post often, giving on- topic information that is relevant to your business. LinkedIn groups and Facebook discussions offer opportunities to answer customer questions and direct them to your website. A strong, professional social media identity is important for building trust with your clients.
Sites such as YouTube offer opportunities for you to feature your products in an online video. Potential customers love product videos because they get to see the product in action. Create videos that are topical in nature and not overt advertisements. Having a blog on your website is an effective way to demonstrate to your customers that you are not a faceless enterprise. Update your blog at least once a week, and respond honestly to any questions posed by your readers to give your company a personality. Not only can you enhance your Web presence with an active blog but also you gain an opportunity to receive unsolicited feedback. A newsletter is a way to keep customers informed of your business happenings as well as generate website traffic and leads. Ask visitors to your website to sign up for your newsletter.
4. Develop a Web Marketing Strategy for your company including the following: identify the marketing segments you will target, how you will reach that segment, and explain how you will advertise on the web.
Our company's unique selling proposition is:
Where uniqueness comes in our bouquet.
Candy's Bouquet is targeting two population segments within the broad category of the fashion conscious female with disposable income.
' Professionals: these are full time working professional women. They typically earn more than $45,000 themselves. They will purchase clothes and other items for the workplace as well as for leisure time. This group is being targeted as they work full time and therefore have the need for many different clothes and accessories for all of their different outfits. They also have the money to spend on clothes and accessories and will take advantage of this reality as women typically love to shop for clothes and stuff.
' Housewives: who have plenty of disposable income because of their husbands. These women love clothing and accessories and spend fair amounts of time shopping for them. The household income of this group is $50k-$150k, more toward the higher end of this range. This group is attractive because they have the money and the time to shop for clothing. With both money and time, there is no limit to the number of things that they would like to buy.
The benefits of my products or services:
One key feature that separates Candy's Boutique from all other local boutiques and department stores in the area is our commitment to providing women stylish, quality clothing options. Because our primary concern will be making sure our consumers are happy with the fit and style of their purchase, we will provide clothing for all shapes and sizes of women. We also make every effort to have petite and sizes available in stock.
Candy's Boutique will not just be a store that sells clothes. Our customers will benefit from an experienced and knowledgeable sales staff. Our goal is to implement a superior customer service system. We have a friendly reception and an inviting atmosphere. Candy's Boutique will also offer customers fashion information and advice. Our trained personnel will provide counsel that women simply cannot find at other clothing stores
Explain how you will advertise on the web.
First, I would choose and registering a domain name. Then I would choose a web host. Next I will design my web page and begin advertising and marketing. I will also set-Up a social media page on Facebook for my company to advertise on. E- Mail marketing for those customers who would like to know about my products or services immediately. I will become a blogger. A bouquets that blog can reach a new audience by writing in a conversational way and showing the human and personal side of their business. I could also use a YouTube link on my Web site and I'd have a new marketing tool. I will also put my web address on business cards, on signs and stationery. I would not just advertise in one way, I don't feel it would get the word out fast enough.
Schneider, G. (2011). Electronic commerce: 2011 custom edition (9th Ed.). Mason, OH: Cengage Learning.
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