In conventional shopping, the disappointment might have been avoided by trying the product beforehand. The remote transaction involves risks associated with time time may be wasted in contrast with conventional shopping , financial the absolute cost may be higher than in conventional shopping and delivery the product may not arrive or may arrive late.
Additional risks associated with the Internet include social how friends and family might react , privacy personal information is not secure and payment there might be financial consequences from sharing the credit card number. Lastly the reliability of the information contained in the website posses a source of risk.
According to Cases' results, social risk was the least concern among e-shoppers. Privacy, source, performance, and payment risks were considered as the most crucial forms of risk in electronic commerce.
Privacy risks could emerge in any form of internet browsing without the browser's knowledge, but when a customer makes the purchase themselves, the perceived risks are at their peak as the customer is required to submit personal information which would place the privacy risks at the Purchase Decision stage.
Some websites require registration information to be submitted before browsing their catalogue. This spreads the privacy risks to the Information Search and Evaluation phases as well.
In addition gathered personal information is stored so that even after the purchase is made, the privacy risks affect the Postpurchase stage as well. The source risks refer to the credibility of the information which naturally affects the Information. Search and Evaluation stages the most. In an online environment, performance risk exists because of the customer's inability to test the product before purchasing it.
Concerns about the product's performance emerge when the product advances to the consideration set and these concerns are likely to grow steadily as the consumer approaches the final purchase decision. However, if the customer has had a chance to try the product at some point, or has a money-back guarantee, the concerns about the product's performance should be reduced Akaah and Korgaonkar, The same philosophy can be utilized when considering concerns about monetary loss financial risks.
As the amount of trust towards a certain e-marketer affects how the customer perceives the risks associated with an online purchase from that e-vendor, and the amount of risk associated with online shopping affects the customer's trust towards e-marketers in general, it is assumed that when one of these risks affects the purchase process, the other is affected as well.
Thus the combination of these two affect the purchase process. The different types of risks in combination with the trust factor affect on some level the entire purchase process, and therefore, these concepts must be studied in conjunction with the five-stage Consumer Purchase Decision process model.
Figure 1 shows a realization of the model with the integration of the external factors of risk and trust. The model proposes that the risk and trust factors play an important role in every stage of the buying process in spite of the fact that their effects ultimately culminate in the purchase decision stage. The model with the integration of the external factors of risk and trust. The new future is unfolding now, retailing landscape will have transformed completely.
Retail business will have to innovate continuously as an increasingly digital environment gives shoppers dramatic new choice. Shoppers will interact with retailers and suppliers more than ever before, with online capabilities and communities playing a bigger and bigger role in the relationship.
Social network site won't just be a consumer to consumer conversation as retailers and suppliers will tap into what is being said. Indeed, the process will being to resemble the mechanics of collaborative product development. Smart retailers and savvy suppliers will learn from what they hear shoppers talk about, and they'll provide more of whatever makes their customers happy. They'll learn more about the need of consumers.
This new empowerment of the public will also have a major impact on the retail world. Shopping social network website: Shoppers share information about the hottest stores, designers, trends, and must-have products- all online.
Retailers and suppliers will be able to monitor social networking sites to find out what consumers want and take early action to develop and stock those products. The impact of an increasing number of consumers and businesses accepting the Internet and other forms of digital media as a stable channel to market is an increase in customer expectations, which creates competitive pressures and challenges for e-retailers. Due to advances such as speed and interactivity brought about by digital technologies and the extension of trading time, customer expectations of levels of service have risen significantly.
Therefore organisations are required to adopt a more dynamic and flexible approach to dealing with these raised expectations. For the e-retailers it is important to identify any performance gaps and develop strategies which help to close the gaps. For example, in the case of logistics, research has found that utilizing carriers that have higher levels of positive consumer awareness with appropriate online strategies can contribute to the consumer's willingness to buy and overall satisfaction with the online buying experience.
Therefore, development of strong awareness and brand image among consumers can prove to be a beneficial strategy for both the e-retailer and the carrier. Strategic implications for retailers wishing to be successful online are far reaching and require a retailer to develop a carefully informed strategy, which is guided by a business model that can satisfy corporate objectives through the deriving value from corporate capabilities whilst effectively meeting the expectations of the online consumer.
The target market and the product category can have a significant influence on success. It is now widely acknowledged that there is a need for a company to have a coherent e-strategy underpinned by a clear vision of how it may take advantage of the Internet.
An online retailer's strategy is likely to be affected by the type of online format it adopts, the type of products and services it sells and the market segments it chooses to serve. Two customers in the same segment are likely to have different tastes, attitudes and purchasing behavior. Advances in information technology have enabled marketers to gather large amounts of data on consumer behaviour and use that data to segment customers based on such variables as product usage, loyalty, purchasing patterns and benefits sought.
The increasing use of electronic point-of-sale information is providing companies with detailed information by individual customer. In the retailing industry, product purchasing information gathered through systems is combined with personal information that customers provide when they sign up for loyalty schemes, giving the retailers a deep understanding of how their customers buy products from their stores and how those purchasing patterns change over time. Direct marketing can help win back that brand loyalty by keeping a particular product or service in the customer's mind on a regular basis.
Not all customers are profitable. And those who are often only become so after the company has recouped the costs of recruiting them in the first place. Companies are beginning to understand the desirability of retaining customers and maintaining their royalty. Regular communication, via direct marketing, can help. Dell computer corporation is the world's largest direct seller of computer system.
Today, nearly half of all Dell computer product are purchased via the internet. Dell has made excellent use of online applications to get consumer input about its products prior to launch Adamson, In the late s, customer readiness to use the Web for buying had increased to the point where selling via the Internet was the logical next step - especially for a PC company.
By definition, everyone on the Web was part of the target audience for Dell's product. Dell's transition to digital was not an overnight event. This transition to a hybrid business model is typical of smart organisations that are in the process of going digital. Dell drove the mix to evolve toward digital very, very quickly. The key step was the creation of Dell's on-line configurator, a digital system for designing a customer's own PC and one of the world's first Choiceboards. Its unique value proposition for customers includes fast response and high customization through its configurator system.
It also includes ease of interaction, self-service in numerous functions, form price checking to order-status checking to PC design , and the bility to provide corporate customers with extensive and accurate information about purchase patterns and usage.
Because of its direct connection to customers, Dell enjoyed real-time feedback about product offerings, service, and the competition. This feedback helped Dell avoid some of the more serious missteps of its competitors.
When faced with uncertainty and incomplete information, buying from Dell is a safe choice that the customer is unlikely to regret. It produced not only by Dell's word-of-mouth reputation and history but also by the ease, speed, efficiency, and accuracy of Dell's Choiceboard and other digital service.
Turst is to expanding the customer relationship. Beyond the product customization offered by its PC configurator, Dell offers an additional layer of customization through its Premier Pages - customized Web pages that Dell has created for over 40, corporate clients. These pages, which are connected to the client's intranet, permit client-authorized personnel to configure their own PC systems. How would you rate your performance less than 1 page?
Each time we opened to other markets, we created content and published to give information about our new computers and services to potential customers. To influence our potential customers we used advertisement ads highlighting their preferences and most have list.
This strategy was possible with database provided in the simulation giving us the opportunity to create customized communication strategies through our newspaper in order to promote our new products and services. Opening to other diversities and cultures in terms of beliefs, expectations, tastes and needs and then create a customized marketing plan to target those consumers effectively.
Our performance was good, but it can improve. As now we are the number one on sales and market share. This gave us the ability to focus on pleasing our customers accordingly. The ability to know their price willing to pay allows us to be reasonable and competitive with our cost of production and selling price. Develop and execute a marketing plan Clarify business objectives and strategy while executing our plan.
Now each group is looking and analyzing what strategies the other groups are using, what mistakes are they committing. There are many marketing techniques used today in which some have proven to work and others not so well.
The main point to remember is there has to be a complete understanding of the background and foundation that identifies the importance of marketing.
The right people need to be hired as marketing staff. If the wrong person is selected, not only will business fail, but healthcare workers would be affected as well. Marketing is good, it just has be worked properly for all to benefit from it. Health Forum Journal, 44 4 , Retrieved June 29, , from ProQuest database.
Relationship marketing in healthcare. Journal of Healthcare Marketing, 14 4 , Accessed September 14, We will write a custom essay sample on Marketing Reflection Paper specifically for you. Leave your email and we will send you an example after 24 hours If you contact us after hours, we'll get back to you in 24 hours or less.
Marketing Reflection Paper Essay. How to cite this page Choose cite format: Individual Assignment Reflection paper about educational class. Pediatrics 11 , Physicians 2.
Marketing is a major component for most business in the United States but is only just beginning to take hold in the healthcare field. Within the healthcare arena the concepts of marketing .
View Essay - Principle of Marketing reflection paper from MARKETING at National Americal University. Reflection Paper Principle of Marketing This quarter we covered several chapters in our%(15).
Free Essay: Introduction: Nowadays marketing take place a huge role in the competitive business world. The main objective of marketing is to increase. Read this essay on Marketing Reflection Essay. Come browse our large digital warehouse of free sample essays. Get the knowledge you need in order to pass your classes and more. Only at mihtorg.ga".
Defining Marketing Paper Defining Marketing Paper Defining Marketing Marketing is an extremely vital device for a rising mihtorg.gaing is a noble venture for mihtorg.gaing is a section that has been confirmed to compensate for itself inside several businesses. Advertising is frequently misinterpret, since of the deficient of study, occasion, resources, and the knowledge. Personal Reflection Sample on International Marketing Class and Skills Obtained Posted on July 1, by John Dudovskiy Learning gained and contribution to analytical and behavioural skills.