week 2 report

Name: Rachel Poon
Lecturer: Ms. Cheryl
Week 1

On week 2, we presented about our research about 5 elements of ecommerce, advantage& disadvantage about it, lastly was the difference between the traditional and new way of ecommerce.

5 ELEMENT OF ECOMMERCE

Give users an easy checkout process

User-Friendly Navigation

Customer Service Contact Info

Visible Security Seals

Convincing Content

Give users an easy checkout process

Definitely this is one of the most important element of a successful e-commerce website. We all love it if we get the ease of payment while buying the stuff online. Focus on this element too while building an e-commerce website

User-Friendly Navigation

One of the most important things to keep in mind when developing an e-commerce platform is to provide the best experience possible in order to keep customers satisfied.

Customer Service Contact Info

It’s a definite plus for your consumers to know that you’re here to help. With the increased use of mobile devices and social media, it’s almost mandatory to resolve any miscommunication as fast as possible. Bad news spreads like wildfire, so be sure to avoid conflicts.

Convincing Content

Since customers won’t actually “feel” the product until they purchased it, it’s important to give them the best impression of the product as possible. They need to be convinced by your content.

Visible Security Seals

Many companies are now linking to security information, but we maintain nothing inspires trust more than visible security seals. Make sure they’re on every page of the checkout process, because someone might not think to look until the very last page. You don’t want to miss a sale because they got cold feet.

ADVANTAGE & DISADVANTAGE

Advantage :

• Everyone can easily start and mange their own store.
• Saves on cost
• No need of physical store
• Unlimited Shelf Space -Having lots of choices , no limits on quantity of products

• Go global
• No standing in queues or being place on hold
• There are several shopping search engines and comparison shopping websites that help consumers locate the best prices. While buyers love this, sellers find it too restrictive as many of them get filtered out of the consumer's consideration set.
• Faster buying procedure
• Easy to find products that you want 

Disadvantage :

• There are many bad sites which eat up customers’ money
• Consumers could suffer from credit card fraud, leads to the demise of online business.
• There are websites that look good, but are up to no good, they often accept orders and then disappear.
• Lack of personal touch
• Delay in Receiving Goods
• Consumers hesitate because of security
• Being afraid to supply online information regarding the credit card.
• Need for an Internet Access Device & Internet Connection : People who does not have access to internet cant have encounter to the stores
• There are many bad sites which eat up customers’ money
• Consumers could suffer from credit card fraud, leads to the demise of online business.
• There are websites that look good, but are up to no good, they often accept orders and then disappear.

Traditional way and new way of ecommerce:

	Old	New
Method	Tv, newspapers, print, billboards	Social medias, blog, website
Focus	Advertising and branding	People, Community
Supporters	Slow	Fast
Technique	Mass marketing, creating brand awareness through hard selling	Creating interaction among like-minded people around a brand
Required budget	Huge Budget Needed	Minimum Budget Needed
Feedback handling	Not Feedback friendly due to the communication style used	Not Feedback friendly due to the communication style used