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INLS 210-96

Offers software, hardware, networks, professional services - including Web site design, managing and storing data, project advice (consulting services) AOL ...

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INLS 210-96

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    Slide 1:INLS 210-96 Electronic Business for Information Professionals

    Business Models Retailing June 2, 2000

    Slide 2:Todays Readings

    Strategy & Business - REI Climbs to the Top Knowledge@Wharton - Whos Buying on the Internet (subscription required) Managing the Digital Enterprise Models McKinsey Quarterly - From retailing to e-tailing (subscription required)

    Slide 3:Motivations for Online Shopping

    Saving money Convenience Selection

    Slide 4:Psychology of Online Shopping

    Provides people with an organized method of acquiring goods Able to avoid personal confrontations Extraverts are much less likely to shop online than introverts Appeals to those with shorter attention spans Provides instant gratification

    Slide 5:Characteristics of Online Shoppers

    Immerse themselves in the experience lose track of time Compulsion to comparison shop Prefer to pay with credit cards Obsessed with uniqueness Enjoy receiving packages Advocate online shopping Constantly craving new experiences

    Slide 6:Concerns about Online Shopping

    Quality (describe quality control measures, return policies) Security (Information on credit card security, privacy policies, SSL) Convenience (Shortcuts for experienced shoppers, Short pages, Few pages) Control (Provide FAQ, Live help, Customization, Personalization)

    Slide 7:Market Leaders in Online Retailing

    IBM Start to finish solution had one-third of all retail sales on the Internet in 1998 Has www.macys.com, www.nordstrom.com, www.llbean.com Offers software, hardware, networks, professional services - including Web site design, managing and storing data, project advice (consulting services) AOL Hosts Jcrew.com and Computer World in addition to shopping through the Netscape portal

    Slide 8:Pioneers in Electronic Commerce

    America Online Hosting commerce web sites, providing links to affiliates, offer software and consulting services Dell Computers Lets consumers direct the process Amazon.com Offers a wide variety of products at discounted prices Ebay Auction web sites Broadcast.com Bringing live events (now part of Yahoo!) Imall.com Shopping mall metaphor

    Slide 9:Seven Business Plan Elements

    Take a long-range view - no profit for years Sell products that are easy to identify - sell what you don't need to touch or feel Capitalize on the value of brand names Provide services that are understandable - sell services that can be described in words Recognize the potential in niche markets - gain a large market share in underserved segments Acquire prominent listing in the big-scale portals - Advertise on portals high traffic sites Install high-profile security systems - protect consumer information will yield trust

    Slide 10:Keys for Success

    Make innovation a high priority Make business decisions led by strategy - know what business you are in Produce an excellent product or service

    Slide 11:Leadership

    Making the shopping experience a good one Be perceived as an experienced online retailer Become an innovator Use online and traditional media to build awareness Form alliances with other online and onland companies Make certain the web site helps consumers

    Slide 12:Economic Issues

    Stock Market Activity Calculation of the return on investment Can count expenses on hardware/software Difficult to quantify investments on staff, savings on efficiencies Taxation Marketing costs Production costs Inventory Site Development Electronic payment systems Security Business alliances System Maintenance and Enhancements Staff need to hire experts

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