question archive 1) As a potential business owner, I would make use of both traditional and e-commerce

1) As a potential business owner, I would make use of both traditional and e-commerce

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1) As a potential business owner, I would make use of both traditional and e-commerce. For this exercise, I will sell water bottles. I would primarily rely on e-commerce and sell through a website. I would make use of marketing through social media like Facebook and Instagram, with links to the sites. To make use of traditional, I could occasionally have small pop up shops at colleges and sell products through that.

I think an advantage of traditional style would be the connection with the consumer. By having consumers physically make purchases at stores I believe it establishes a connection with them. Another advantage would be the ability to test out a product before purchasing it. Trying on clothes would be an example. On the flip side, the disadvantage with traditional is that you are limited by your community to who you can sell too. The disadvantage for e-commerce would be that the producer will not be able to build as strong of a connection with the consumer since there is no human interaction during the transaction. Another disadvantage would be that consumers are not able to test products, which may make them reluctant to buy things. However, the big advantage of being able to sell to a bigger market hides the disadvantages.

E-business has reshaped the way we do business by making it an emphasis. Companies like Amazon are thriving because of E-business, so it has forced every other competitor to establish an online presence. E-business has also changed what kind of marketing campaigns are effective. Now, every company has social media to interact with their consumers. They are able to draw them in, and then eventually get them to purchase through a link on the company site. 

 

2) As a potential small business owner I think that I would leverage traditional and e-commerce by having a small store while also having an online website for the store to maximize revenue. I feel that a large number of people still do shop traditionally and go walk out to stores, or just do not want to wait multiple shipping days. Which is revenue that I would not want to miss out on. So having that while also having an online store will provide the maximum amount of revenue for the company. But I think that if I'm looking to market things for my business I would use e-commerce because it would be way more cost efficient then starting an in store business where you would have to get a retail license which is going to cost you a sales tax and a use tax on all the items that you sell. Then after getting a retail license you will then need to get a business license which will then cost you more time and money. And it would be way easier and more effective to market the business using the internet. Some people still want to go in and try things on to make sure that they fit right before buying them, because that can be a challenge with purchasing things online. And also in person shopping is also a hobby for a large percentage of people which equals more revenue. An advantage of e-commerce is that you can market your product on multiple platforms and have someone discover and buy a product simply from sitting at home on their phone. Disadvantages of e-commerce is that you have to wait multiple days or maybe even weeks to get the product that you ordered. Then when you receive it, it could have something wrong with it or it could just not look like how you thought the product might look in person. 

 

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