Background of the study
E-commerce is known as the type of business activity in which products are sell through online or over the internet. Due to changes in technology companies are become more advance and they are now using new technologies for increase their sales and profit (Jayashree, Malarvizhiand Salehi, 2016). The present research is based on exploring the importance of E-commerce to drive business success. It is essential for the company to understand the significance of E-commerce and adopt it in their business activities. The present research will help in developing deep understanding related to the importance of E-commerce and way it drive business success.
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Aims: To explore the importance of E-commerce to drive business success- A study of Next plc
- To understand the importance of E-commerce
- To analyses the way E-commercedrives business success
- To evaluate the impact of E-commerceon business success
- To recommend strategies for improving e-commerce in the business
- What is the importance of E-commerce?
- What are the way E-commercedrives business success?
- What is the impact of E-commerceon business success?
- What are the strategies for improving e-commerce in the business?
Importance of e- commerce
According to the view of Khatoon, Bhatti, and Alam, (2016) E- Commerce has become an integral part of a business world because our whole work is depending on internet as people are so busy that they are not going to anywhere and purchase everything which they want through e-commerce. Almost half of the world purchase or sell their product online and saves their time too at their own convenience. Jayashree, Malarvizhiand Salehi, (2016) state that business to business (B2B), Business to consumers (B2C) and Business to government (B2G) are some of the example of E- commerce. There are many advantages of E- commerce, some of them are :
- The best advantages of e- commerce is convenience and ease. Through e-commerce people can easily buy their product without wasting time.
- People should not face the problem of description because while online purchasing they give you all the best offer with complete description.
- While online purchasing customer always see the warranty of that item because generally the shopkeeper not show the warranty of the product.
In the physical store, the geographical area is limited for selling the product while in the case of the online the whole world can see and choose the product and sell it to anyone (Szolnoki, Thach and Kolb, 2016).
- The best advantage of using e-commerce is to no investment is required , as we all know in physically store some amount of money is needed to settle the business but in online e- commerce business there is no other formality requirement.
- The mode of payment is also through cash, cash on delivery and through bank payment. Now a day, digital wallet is also another method for the payment procedure.
It also broadens your brand. By offering product 24hours in a day a person can broaden his own brand and make blogs, in social media can raise your product quality higher and higher (Sisodia, 2016).
To analyses the way E-commerce drives business success
According to the view of Wang, Wang and Liu, (2016) there are many ways through which e-commerce is useful in our daily life. With increasing demand of online purchasing people are also creates more interest in the field of e- commerce. In US more than 60% of the market is based on e-commerce. E- commerce help in many ways some of them are as follows:
- It offers product data sheet: consumer can get all the information online from the data sheet given in the product detail.
Keep eye on consumer habit: this is the most imp way to analysis that what is the basic need of the consumer and what is the trend and to keep eye on consumer habit is the best method to analysis (Sharma and Lijuan, 2015).
- Competence: for effective business transaction, e-commerce is the best method for business. For setting up new online business very few licences and permits are required as compared to open a new physical store and to compete your product from others you need to start with a very low range of the product.
It increases your sell by offering different item free with one product and to attract consumers towards your product, one has to offer good things so that people forced themselves to purchase from your brand only (Ghobakhloo, Hong, and Standing, 2015).
- You can decrease the cost of your product because you do not need to spend extra for advertising and marketing so you can easily decrease your cost but it is not possible in the case of physical store as they spend more money to gain the popularity among the people (Chaffey, 2015).
the impact of E-commerceon business success
According to the view of Choshin and Ghaffari, (2017) E-commerce has affected a lot on business globally. The main factors are on the B2b(business to business) which means an organization dealing with another and on the B2C(business to Consumer) which means an organization doing trade with the customers worldwide. If the traditional process get applied then E-commerce has synchronized the customers at low cost than required. Now no high class shops are being opened up in the market areas. And all the task related to marketing and selling of the product is being done through Web only. Anybody can produce the goods and make the stock at any distant area and can do the advertisement by making the website and launching the products on the sites. And when the website becomes active the leader can approach a deep customer base. And when the customer starts purchasing the goods then there should surety of proper transportation of services and goods to their end users. Rouibah, Lowry and Almutairi, (2015) state that it is an opportunity for small businesses to start a new businesses and heighten up their current businesses or they provide software and hardware services that combine the internet into a business framework. Almost 65% of all B2B e-commerce has six sectors : government, manufacturing of industrial equipment, motor vehicles, shipping and retail sector.
Through the use technology efficiency in the B2B e-commerce has increased. For special products buyers get easily targeted. It helps the buyers to to find time manageable goods or some other alternative goods. Coalitions is the other reason where small business are benefited from B2b e-commerce industries. In coalitions small scale industries do the negotiation for the pricing of the goods (Newell, Wu. and Jiang,2016)
New and fresh customers are exploited through e-commerce. Declination of goods and services makes profit in the selling of the products regarding the approach of new customer base line. Through this loyal customer can be retained or maintained to along term basis and this improves the service and product quality of the company. Various new e-business opportunities are acknowledged like attracting customers, improving effectiveness in the services and puality of goods, building fine relationship with the customers and suppliers who are sustainable in their company.
Research methodology chapter comprises of various tools and techniques that assist in completing the research. With the use of appropriate tools and methods researcher can easily reach the aims of the study (Kerr, Eckert and Wandwabwa, 2016). Tools and techniques which are used by the scholar in the present research are as follows:
3.2 Research philosophy
Research philosophy is known as the belief, assumption and values of the scholar for the selected topic. It leads to make easy for the investigator to carry out research in an effective manner (Wright, Wahoush. and Jack, 2016). Basically, there are two types of philosophy such as interpretivism and positivism which can be used by the scholar. For the current investigation interpretivism philosophy will be used by the investigator. It will help in emphasis on subjective part of the study.
3.3 Research design
Research design is known as the method through which investigator can present all the findings in a systematic manner (Bailly and Comino, 2017). Further it assists in addressing the problem of the research in an effective manner. Three types of research design are there such as descriptive, case study and exploratory. For the present research descriptive research design will be used by the scholar. It will help in determining the characteristics of the population which is covered in the study. Along with this, it helps in developing deep understanding related to the selected topic and its issues.
3.4 Research approach
Research approach is the method which assist in finding out the way through which specific and general information can be gathered (Mebius, Kennedy and Howick, 2016). It is of two types that are inductive and deductive approach which can be used by the scholar. For the present research, inductive approach will be used by the scholar as because it will help in gaining specific information first then move toward collecting general information. It is considered as one of the effective method which help in analysing the information for getting valid outcome.
3.6 Data collection methods
The researcher need to collect information from different sources so that it can make investigation more authentic and reliable. It is of two type primary and secondary which can be used by the scholar as depend on the nature of study (Winit‐Watjana, 2016). Primary information is that which is collected at the time of carrying out the research. It is also considered as specific information which help in reaching the aim. On the other side secondary information is that which not new but it helps in creating a strong framework for the present research. Therefore both, primary and secondary method will be used by the scholar for the current investigation. In primary information will be collected through survey method. In this question will be asked from 20 employees of Next plc. On the other side secondary information will be collected from books, journals and internet. Reason to select primary method is that researcher can easily gather specific information such as related to E-commerce from this source
To collect respondents from large number of people is difficult for the researcher (Creswell and Poth, 2017). Therefore, sampling method can be used by the investigator in primary research. There are two method of sampling probabilistic method and non-probabilistic method. In the present research probabilistic method will be consider for the survey. Here 20 employees of Next Plc will be selected through random sampling method. Reason for selecting this method is that it minimises the chances of bias.
3.8 Data analysis
At the time when all the information is collected it is important for researcher to evaluate it. It will help converting the raw data in meaningful information (Edson, Henning and Sankaran, 2016). There are two techniques that are qualitative and quantitate which can be used by the researcher for analysing the data. For the present research qualitative data will be used. In these various themes will be prepared on the basis of results and interpretation is done. Along with this to present it in effective manner different types of graphs and charts will be prepared.
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- Choshin, M. and Ghaffari, A., 2017. An investigation of the impact of effective factors on the success of e-commerce in small-and medium-sized companies. Computers in Human Behavior, 66, pp.67-74.
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- Newell, S.J., Wu, B., Leingpibul, D. and Jiang, Y., 2016. The importance of corporate and salesperson expertise and trust in building loyal business-to-business relationships in China. Journal of Personal Selling & Sales Management, 36(2), pp.160-173.