E-commerce and it's online business benefits

The Advantages of Online Business

The use of e-commerce for the industry is not only attractive but also necessary for businesses in today's economic world. The World Wide Web offers a wealth of resources to grow online enterprises, as everyone can effectively control a company online, regardless of geographical location. In recent years, the online business model initially meant only for the wealthy, has become increasingly prevalent in the global marketplace. This essay would summarize the advantages of online business, including the extension of resources and merchandise, improved marketing efficiency, and accelerated purchase and sale of goods and services.

Expansion of Services and Products

Online business is a significant way to expand services as well as products. In most cases, you find that a business person desists from dealing in a wide array of products, due to the limitation of space since a bigger space in their business premises translates to more rent to be paid. However, that is not the case with an online business. Most of the other transactions are done online, such that the only space needed is for storage. In fact, some of the business people do online business in such a way that they only get the product from the supplier after the customer has ordered it. Furthermore, with online business, you can even work from home (Sweeney & Sweeney, 2010 pp.100-101). In that case, you find that there is often no need to rent physical premises as the internet is a virtual space, allowing sellers to provide a wide range of products, and clients to have a more extensive choice. Business moves without having to spend money on rent. It, in a way, saves costs and at the same time gives an opportunity to provide a wide array of goods as well as services through the internet.

Effective Marketing Platforms

With the current increase in the use of the internet all over the world, online business provides a great forum for marketing. As such, it offers much more effective marketing platforms. For instance, while doing online business, the sellers get to advertise their products on social media platforms like Facebook, Twitter, Instagram, among others (White, 2013 pp.4). In such a case, it is even more effective than the traditional mechanisms of advertisement because they can make their marketing interactive. In the online business, the client and the sellers can interact regardless of the location. Hence the marketing is much more intense. While it is possible to reach the public through television, radio, and print media, it is often not as effective in reaching potential clients around the world as electronic marketing. The interactive and intrapersonal sense that electronic marketing offers works more magic than the TV or the radio, where the client is not able to ask questions, give feedback, or seek clarification about the goods and services that are being offered. According to Sweeney & Sweeney, 2010, on pp. 100, an online presence also allows for blogging, as a means of marketing that reaches out to a wide clientele base.

Accelerated Buying and Selling Process

The other benefit associated with online business is the fact that it accelerates the buying and selling process. Many times, you find that some people do not have the time or even access to some business premises. However, by the fact that the internet has made the world a global village, doing business online eradicates the limitation that comes with accessibility and time. Theoretically, vast numbers of people can browse a website simultaneously, which is a difficult number to obtain in an offline business. Clients can purchase goods at any time, and the probability of missing clients is significantly minimized. Most of the online business is more than the usual 10 hours, such that the client can make their purchase at any time and get it at their convenience. Moreover, having an online platform makes it easier for a customer to access information about a product and make a purchasing decision without having to meet the seller in person (Wynne, 2012). By that business is thus significantly accelerated.

Conclusion

To conclude, the internet has created a new economy whereby online business can thrive and often outperform offline businesses in terms of productivity and profit. For one, the goods and services that are being offered have expanded because there is no limitation of space in the physical premises. Also, the internet reaches out to more people and thus also offers much more effective marketing mechanisms, which increase the profitability of the businesses. Online business also eradicates some of the barriers to profitability such as lack of accessibility. For one, the customer can purchase their goods without having to go to the business premises. In that case, it is evident that online business has significantly accelerated the buying and selling process. Online business has revolutionized the business world today.

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