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Describe E-shop (virtual Storefront) business model.

Describe E-shop (virtual Storefront) business model.

Answers

Web marketing of a company or shop
Goals
- Main goal: to sell goods and services
- Secondary goal: to promote the company
- Challenge is to develop strategies to increase demand
- Other goals: cost-reduction of business processes
- Revenues from reduced costs, increased sales, affiliates, and advertising

Problems:
- Current access speeds and hardware/software configurations make online shopping frustrating
- Online shopping is not as immediate as real-world experiences (glossy catalogues or department stores)
- Security and privacy are major issues
- Consumer behavior issues are relatively unknown e.g. marketing, getting repeat customers, using promotions and incentives effectively

Kavungya answered the question on May 9, 2019 at 07:35

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