Market Entry Term Paper

Pages: 27 (9989 words)  ·  Bibliography Sources: ≈ 42  ·  File: .docx  ·  Level: College Senior  ·  Topic: Business

Market Entry

The introduction of computer-based networks in the course of implementation of the business strategies is known as Electronic business or e-business. This involves marketing along with the extensive range concerning customer, production and management concentrated business strategy in respect of profit making, government and non-profit making organisation. E-business involves the processing and exchanging of the digitized data files varying from the range of text, audio and video files from one computer to another and from one electronic tool to another. The e-business techniques mostly are based on fully automation. (Hecker, 2001) it is to be assessed as to how suitably the e-business is compatible to the business process. It is also essential to watch how better it operates with the existing business strategy. (Howard, 1999)

Not many years back, hardly anybody among us might have forecast that an innovation made during 1990 of the World Wide Web by an undistinguished software engineer, Tim Berners-Lee would trigger such a transformation in manner in which our world communicates. (Killoran, (1999) the global network has been changing the business outlook in many elementary methods. The Internet-based business network constitutes an imaginary marketplace that facilitates availability of the marketing information at much ease and making the geographical boundaries meaningless. (Baker, 1998) the Internet at its inception was confined as the private network of government agencies and scientists presently is developing rapidly like any of the commercial services. (Burk, 1993)Buy full Download Microsoft Word File paper
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Term Paper on Market Entry Assignment

Even though the ordinary citizens have been using the Internet just from the initial part of 1990s, the Internet is currently been used by several millions of users. Whereas the exact number Internet users have not been reported accurately, every report acknowledges that Internet usage is rising at a blazing pace. (Louisa; Lincoln, 1998) According to a recent estimate the 'World Wide Web' is now estimated to have about 20 and 30 million users and are very powerful and persistently expanding. Simultaneously, the users of Internet are also increasing rapidly and more diversely. The Internet is regarded as a pliable deivice and has provided many characteristics to the commercial services. (Burk, 1993) the prospective benefits inherent with the involvment of online marketing of products cannot be undermined by the companies. There are cases of success to prove its benefit like that of Amazon.com to Office Depot. (Howard, 1999) Irrespective of the size and practice it provides ample scope to the entire dot-com retailer to succeed instantly against the big companies and brands. (Spangler, 2000)

The modern communication technology like the Internet is unique in its extent of communication, letting users to exchange information in a way that is not similar to either interpersonal or mass communication avenues. (Allbritton; Rogers, 1995) Even small entrepeneurs can do business via online. For example, John E. Lacher, CPA is an individual professional who dedicates all his practice to management consulting. His array of customers represents other CPAs to small businesses to Fortune 1000 company, from Louisiana to California to Sweden. For meeting his business schedule he does not have to go out of his office. (Koreto, 1996) Again the latest technological advancement possessing the capability to modernize the financial services industry throughout the world is Internet Banking. The fact that banking transactions performed through the Internet have lower expenses compared to the transactions done personally at the branch, there has been a beeline by the banks to develop their Internet capabilities. (Ralston; Wright, 2002)

The Forrester Research Inc. observed that within a short span of time of three years the e-commerce strategy has increased high from near zero to more than $100 billion USD in U.S. alone and was also anticipated to grow upto $1.3 trillion within 2003. It is quite essential to assess if your company be one of them in the coming years. As it appears at the first sight it is not so easy to judge. It is of course very easy to enter into the Web-based business and any business concern can do it. Even though there have been successes, the advent of new strategy is also observed to have initiated with increased false starts, false hypothesis and false anticipations. This implies to the failure. (O'Brien, 1995)

Again companies advancing to utilize the Internet, experience diverse perils from outside their boundaries. A state-of-the-art security strategy must comprise firewalls, confirmation by the users and appraisal policies. Paradoxically, the software tools through which the teeming millions were introduced to the world of computing are held accountable for presenting an old trouble to the new breed of software managers: open systems security. (Bort, 1995) the Aberdeen Group- a Telecom and computer market research enterprise has announced that Internet viruses, spy ware and worms setback the business by almost USD 2m with every virus attack. As per the investigations conducted by the company revealed that setbacks due to problems in the Internet can be of the order of USD 20.1m in case of a Global 5,000 company earning revenues of USD 30bn. The Aberdeen Group announced that the difficulties usually lead to the businesses regulating their it security means. (Linda. 2004)

Once more divulging the credit card numbers over the network is not at all safe- the public architecture makes it a cakewalk for the Internet delinquents to breach the security, compelling a lot of Internet businessmen to choose the offline placement of orders like telling the customers to dispatch facsimiles and ring up Toll Free telephones for placing the orders. It is calculated that less than 5% of those having Internet access posses the browser software or broadband connection needed to experience the Internet in its total multimedia grandeur. The vast bulk of the Internet users continue to access the mammoth network either exclusively through the email or by means of software, which permits them to see the textual matters of the documents available in the Internet, incomprehensible images and other aspects. (Resnick, 1995)

Visibility is an area of concern that the Internet businessmen encounter. In contrast to the physical world comprising of shopping complexes which the shoppers can come across while passing through them down the highway, Internet stores are not noticeable to everybody except those who are aware of the site address of the Internet stores who access them. Due to this several flourishing Internet businessmen have been disillusioned by the less traffic at their online stores. Others have been flamed as a result of their endeavors to advertise themselves on the Internet's bulletin boards and discussion groups. Even though a veer of latest products and technologies assures to solve these difficulties, purchases through the Internet is yet to attain its optimum capability. One of the greatest confrontations in making customer believes that your virtual shops are there for sure. Although several Internet directories similar to the Yellow pages have been published of late, no authoritative source of information is available to aid the Internet's complete user records to locate your shops. (Resnick, 1995)

The Gartner Group approximates that 75% of the total e-business undertaking will go bust because of the dearth of technological appreciation and substandard planning in the business model. (Greco; Ragins, 2003) in the last few years a number of newly opened e-retailing businesses have turned up, in quest for new market prospects. But the growth of market has not been as flourishing and fast as has been anticipated. Distressed with the absence of profitability, a lot of e-retailers like valueamerica.com, pets.com, living.com and furniture.com had no options but to quit their enterprises. Regrettably, these are not stray instances, since other e-retailers might experience an identical end. (Archer; Head; Wang, 2002)

Among the factors which can be a flaw of the website's sluggish activity strikes at the minimum, however the most prevalent. Sessions of inactivity might get all the publicity, but slow loading of the pages is acknowledged to have the capability of to be extremely detrimental site problems to impede an e-business, since all the e-business managers are aware of the cliche that competition is just a mouse click away from us. (Gayle, 2000) it managers are fighting with a crucial choice: the manner in which the possibilities of accounting and financial management can be opened up to Web-based business. Several enterprises might also ignore the accounting system - creating Internet outlets or catalogs, accepting orders online and other web-based operations in the absence of unifying accounting resolutions. Nevertheless the accounting system is crucial to fruitful e-business. All the transactions should be entered into the books of accounts that are regarded as the core of the business.

In the absence of unification among the web-commerce and accounting systems companies might build unsafe isolated pockets of technology. This can lead to mistakes in the data entry, omitted sales order, wrong product delivery destinations, confusing inventory information, or any other difficulties because of which customers desert the company and the company bears losses. (Schoutsen, 1998) Further, a vital characteristic of customer care is taking the customer into confidence regarding the position of the order, declares Keith Schamis of NAPA online. Achieving a… [END OF PREVIEW] . . . READ MORE

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