Starting a Business Online;Why I would not sell my domain name
Order Instructions:
Assignment 2: Starting a Business Online, Part 2
Due Week 8 and worth 200 points
Imagine that you own a small, local clothing store along the Jersey Shore boardwalk and decide that you want to engage in e-Commerce.
Write a 4-5 page paper on the following:
1. Imagine that someone has offered you $1,000 to buy your domain name shortly after your started your business online. Explain why or why you would not sell and cite the ethical dilemmas involved.
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.
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.
4. Develop a Web marketing strategy for your company including the following: identify the market segments you will target, how you will reach that segment, and explain how you will advertise on the Web.
Your assignment must:
• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions.
• Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required page length.
The specific course learning outcomes associated with this assignment are:
• Summarize the principle security and privacy issues related to electronic commerce and actions firms can take to address these issues.
• Identify the basic elements of the technology infrastructure used to conduct electronic business.
• Explain the basic communications and network concepts used in electronic commerce and the basic functioning of the Internet and the World Wide Web.
• Outline the considerations for marketing on the World Wide Web and creating an effective Web presence.
• Use technology and information resources to research issues in fundamentals of e-business.
• Write clearly and concisely about fundamentals of e-business using proper writing mechanics.
SAMPLE ANSWER
Why I would not sell my domain name
I would not sell my domain name given a $1,000 offer; because my business’ products would already be associated with the domain, following the online presence. Marinković (2012) notes, that a domain gives a business its online identity or online branding and is generally the online avenue for my business to connect with customers. It also provides information on the business’ products and where they can be physically purchased or how they can be purchased online. Selling my domain would therefore mean losing touch with my customers and a negative impact on my online branding; and consequently the loss of potential customers who may have planned to revisit the site for more information. Furthermore, it would lead to confusion among clients who were already using the domain; as a new user introduces new products and information on the website once it has been sold. I consider this unethical as it denies consumers information which they would otherwise need to make decisions.
Selling the domain name would impact the business negatively because a new domain name would be required. This means that the business would need to invest financial resources and time in order to develop a new domain. In addition, the fact that I would be creating a new domain would mean that I start developing it from scratch; and take an unknown period of time to take my online brand to the same position as the previous domain. This would consequently lead to lost time and clients as the business attempts to build a new domain.
Obtaining a good domain name is considered an elusive factor and I would therefore be hesitant in selling my domain. Lindenthal (2014) notes that a majority of the best brand names have already been acquired as domain names and finding another good domain name may prove difficult for users. Chances are that the new domain name chosen may not effectively reflect my business’ activities. Furthermore, the process of selecting a name, tasting the domain and finally settling with a name that best reflects the business takes a considerable amount of effort, which would best be avoided by maintaining the current domain.
In considering whether to sell my domain, I would ask myself, what the buyer really wants to do with my domain once it is purchased and whether they are a genuine user. Ethical issues such as hoarding of domain names often arise in the domain business and I would not be pleased if the buyer has the intention of hoarding my domain to sell it later at an exorbitant price.
Benefit of e-commerce software
Effective e-commerce software is user-friendly, in terms of navigation, availability of information, flexibility and versatility, in order to give consumers a delightful shopping experience. In this relation, my e-commerce software will provide buyers with a catalog display, enable them to use a shopping cart and purchase from the website, by providing transaction processing. These functions create convenience and usability for customers and are bound to have immense impact on the business’ return on investment. Each of the functions provides unique benefits as discussed below.
The catalog display is a rich source of information as it helps consumers to make quick decisions, based on the availability of items that they want to purchase as well as their prices. The catalog provides pictures, videos, reviews and user information; which play an important role in helping buyers make viable decisions (Abdullah, Hossain and Joham, 2011). This benefits the company in that consumers are more likely to use online sites that provide a catalog, and having one generally increases sale volumes. Besides informing clients of available products, the e-commerce software records the number of product views as well as reviews on products; information which is necessary in assessing how the business is performing. The information can then be used to make important decisions regarding products that the business should prioritize or eliminate (Abdullah, Hossain and Joham, 2011).
Shopping cart capabilities have gained popularity and large online sellers such as e-bay and Amazon have gained immensely from providing a shopping cart functionality. The shopping cart allows customers to choose products they are interested in and actually proceed to pay for them at the comfort of their homes (Wilson, Pettijohn and McMurtrey, 2006). Given that the items on the shopping cart can be paid for immediately or at a later date gives the buyer flexibility to do ‘window shopping’ and save products that are of interest. A shopping cart is beneficial to the business as it eliminates the need for physical purchases; which in essence allow the business to sell to customers in large geographical regions, away from the area of operation (Wilson, Pettijohn and McMurtrey, 2006).
An organization can only benefit from e-commerce and online selling if is in a position to make sales. Transaction processing allows the buyer to make purchases online instantly and is therefore very convenient. Given that there is no physical contact with the customer and that online purchasing is a ‘self service’ undertaking, it is highly convenient for both clients and the business.
Creating web presence
Creating effective web presence is among the most important aspects of online selling. Consumers should have easy access the business’ products, if they are to consider purchasing them. There are various approaches that I would use to achieve this.
The first step would be to survey the online space, to identify what competitors are doing, and consequently design strategies aimed at penetrating the web space. This also gives an idea of what customers expect in terms of clothing and how best it can be achieved.
I would create an online presence through investing in search engine optimization. This involves influencing the visibility of the website on search engines, such that it is ranked higher on the search results whenever users search for information online. In order to achieve this, I will ensure that my website content is well written, coded and incorporates keywords that customers in my line of business search for (Jöran, Bela and Wilde, 2010). This will ensure more visibility of the website and consequently a higher volume of customers.
An effective way of gaining web presence is to make the website a resource. Atwong (2015) notes that by providing internet users with information on topics of interest can greatly increase online traffic. I would achieve this through creating a fashion blog to provide valuable information for potential customers As people visit my blog to access various resources and follow fashion trends, they would consequently end up viewing my clothing and become potential clients.
A good website is determined by the degree of usability; including ease of navigation, presence of adequate information and flexibility of user options. My website will consist of content that is easy to read and easily understandable. In consideration that web readers mostly skim through content, I will make use of images and graphics as much as possible, while reducing text, in a bid to make it more user-friendly (Huang, Lurie and Mitra, 2009). I will ensure that unique features are installed to help users use the website with ease. In this respect, the website will be available in a mobile-friendly format to ensure that mobile phone users can access it without the need of a computer. To further increase usability, my website would not only provide a catalog, but it would also give users an option to test the products virtually before making a purchase.
Web marketing strategy
My online business will target the youth and middle-aged individuals (age 20-49) due to the fact that they are more likely to use the internet and make online purchases. Statistics indicate that 97 percent of individuals in the U.S. aged between 18-29 use the internet, while the statistics for people aged 30-49 and 50-64 was 93 percent and 88 percent respectively. In addition, more than half of online shopping is linked with individuals aged 21-34; with individuals aged 35-49 accounting for 28 percent of online shoppers.
Enhancing the reach of this population will involve strategic tactics, aimed at attracting viewership and consequently the purchase of products. The first strategy will involve mainstream media advertising including television and magazines, with attractive infographics, which direct users to the company’s website for further information (Goswami, 2015). The advertisements will be strategically placed during popular programs or in fashion magazines that are of interest to the age group. The use of outdoor advertising with conspicuous banners and billboards offering attractive packages, discounts and trendy clothing will also attract online shoppers to the website. To achieve this effect, the media will contain a clear link to the business’ website and indicate the availability of more products.
The use of social media has gained importance in the modern world and it is often considered among the most effective avenues of creating web presence. This is especially so in the target market selected, as they are more likely to use social media to interact with the rest of the world. To promote my business, I will maintain active social media pages, with an objective of creating awareness for my products. In order to create traffic to my sites, the social media pages will be populated with unique, interesting and attractive digital media content, to be shared across the web through various marketing websites and popular social media pages (Atwong, 2015). By creating content that is appealing to customers; my clothing business can achieve adequate online traffic to the site and thus promote sales.
References
Abdullah, A. M., Hossain, M. M., & Joham, C. (2011). e-Catalogs: How Can Brain Hemisphericity Relate to Online Shoppers’ Preferences?. Journal Of Internet Commerce, 10(1), 17-34. doi:10.1080/15332861.2011.558455. Retrieved from http://eds.b.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=1aa998c1-8811-400a-bece-2860fbd2f6fe%40sessionmgr115&vid=0&hid=127
Atwong, C. T. (2015). A Social Media Practicum: An Action-Learning Approach To Social Media Marketing And Analytics. Marketing Education Review, 25(1), 27-31. doi:10.1080/10528008.2015.999578. retrieved from http://eds.a.ebscohost.com/ehost/pdfviewer/pdfviewer?vid=8&sid=7de337c2-a289-4a47-a04a-4af978d3b113%40sessionmgr4005&hid=4108
Goswami, S. (2015). A Study on the Online Branding Strategies of Indian Fashion Retail Stores. IUP Journal Of Brand Management, 12(1), 45-59. Retrieved from http://eds.a.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=0ae655a2-947a-4f46-a4bc-f38bb4da807e%40sessionmgr4005&vid=0&hid=4108
Huang, P., Lurie, N. H., & Mitra, S. (2009). Searching for Experience on the Web: An Empirical Examination of Consumer Behavior for Search and Experience Goods. Journal Of Marketing, 73(2), 55-69. doi:10.1509/jmkg.73.2.55. Retrieved from http://eds.a.ebscohost.com/ehost/pdfviewer/pdfviewer?vid=10&sid=7de337c2-a289-4a47-a04a-4af978d3b113%40sessionmgr4005&hid=4108
Jöran, B., Bela, G. & Wilde, E. (2010). “Academic Search Engine Optimization (ASEO): Optimizing Scholarly Literature for Google Scholar and Co.”(PDF). Journal of Scholarly Publishing. pp. 176–190. Retrieved April 18, 2010.
Lindenthal T. (2014). Valuable words: The price dynamics of internet domain names. Journal Of The Association For Information Science & Technology [serial online] ;65(5):869-881. Available from: Business Source Complete, Ipswich, MA. Accessed July 14 2015. Retrieved from http://eds.a.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=9051a2aa-d703-45d3-a6a0-6b7641609a9d%40sessionmgr4004&vid=0&hid=4108
Marinković, A. R. (2012). On Domain Names and Trademarks. Journal of Internet Law, 15(12), 29-36. Retrieved from http://eds.a.ebscohost.com/ehost/pdfviewer/pdfviewer?sid=02e2fa33-9d32-43f4-a707-d15d7ca8addc%40sessionmgr4002&vid=0&hid=4108
Wilson, R. F., Pettijohn, J. B., & McMurtrey, S. D. (2006). Online Shopping Carts: The State-of-the-Art. Journal Of Internet Commerce, 5(2), 75-94. doi:10.1300/J179v05n02_05. Retrieved from http://eds.b.ebscohost.com/ehost/pdfviewer/pdfviewer?vid=5&sid=26864b2e-7ecd-4a92-ba10-b4934d656422%40sessionmgr112&hid=127
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