Understanding Business

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E-BUSINESS TO CUSTOMERS. Electronic commerce is the buying and selling of products and services or transmitting a fund or data over an electric network. This kind of business carried online where the contact of the buyer and the seller is minimal. Movement of one from one shop to another looking for goods and services is not necessary given the recent technological development. It is more easy and convenient to conduct business over the internet by e-commerce. The products are posted on the websites of the business for the potential customers to see and the make online orders and payments before the products are availed to them. The business transactions in the e-commerce are carried out in different forms. They occur either as business to business where one type of business transact with another type of the business of the same kind or of a different kind. Business to customers is also another form where business is transacted between the business and the final consumers of the product. Another form is consumer to consumer where the transaction is done between two or more final consumers of a product. Customer focus is very key in e-commerce since they are in constant contact with the customers. The need of the customers should be met using the best possible way by employing proper and effective strategies. Customers are the pillars of an e-commerce business and quality customer’s service is a fundamental strategy. Customer service strategy should also be improved as the business is growing. Business should learn from the real experience that the customers are having and aim at delivering the excellent services consistently. The business should also ensure that it retain the customers that it has. It is quite expensive to attract new customers than to retain the ones that the business already have. Customers retention is achieved by frequently being in contact with the existing customers and informing them of any changes or any new products that the business has. Business should also ensure that it gathers information that is beneficial to customers such as the products colors that are mostly preferred by the customers. Thoroughly collected data enables the customers to feel that their interest is being catered for by the business. Money back guarantee is also a major factor to consider in building trust in the mind of customers in e-commerce business. Constant review of the business and the customer’s feedback should be done to ensure that they necessary changes are made towards improving the business. Quality services and the easily available good and services are key to maintain smooth transaction of business in e-commerce.Traders should therefore focus on quality to ensure profitability.

4 Lessons Learned: Design

3 Lessons Learned: Design