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Business-to-Consumer

Business-to-Consumer. Presented by Stacey Riegel Spring 2003. Business-to-Consumer. Defined The Business Side The Customer The Business/Customer Relationship B2C and the Real World Exercise Summary Reading List. What is Business-to-Consumer?. B2C E-commerce E-business. E-tailing.

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Business-to-Consumer

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  1. Business-to-Consumer Presented by Stacey Riegel Spring 2003

  2. Business-to-Consumer • Defined • The Business Side • The Customer • The Business/Customer Relationship • B2C and the Real World • Exercise • Summary • Reading List

  3. What is Business-to-Consumer? • B2C • E-commerce • E-business

  4. E-tailing • B2C = 10% • B2B = 90%

  5. The Business Side • Benefits Vs. Challenges • The Market • Needs of the Consumer • Continuous Research

  6. Benefits to B2C • Reduce Intermediaries • Reduce Labor Costs • Shorter Transaction Times • Improved Customer Service • Expanded Market

  7. Challenges • Costly • Organization Wide Commitment • Continuous Change • New Intermediaries • Scaleable & Flexible Supply Chain

  8. New Age Intermediaries

  9. The Competitive Edge • Quick to Evolve • Solutions to Offline Compromises • Personalized Service • Strong Brands

  10. The B2C Customer Empowered byTechnology

  11. Consumer Concerns • Privacy • Security

  12. Consumer Frustrations • Lengthy Web Forms • Complicated Sites • Minimal Assistance • Undisclosed Expenses

  13. Building the Business/Consumer Relationship • Unique Service for the Consumer • Trust

  14. The Strategy • Converting Visitors to Buyers • CRM • Web Assurance Services

  15. About CRM • Customer Relationship Management • Developing Customer Profiles • Forecast Customer Behavior

  16. CRM Advantages • Committed Customer • Lower Sales and Service Cost

  17. Building Trust • Higher Standards of Privacy • Web Assurance Services • Disclosure of Sales and Privacy Policies

  18. Web Assurance Services • BBBOnline (www.bbbonline.org) • CPA WebTrust (www.cpawebtrust.org) • VeriSign (www.verisign.com) • TRUSTe (www.TRUSTe.org)

  19. B2C – The Real World • Nexchange – solving the abandoned shopping cart case • Lands’ End – an e-commerce pioneer

  20. Nexchange and The Abandoned Shopping Cart Case • Average abandonment rate = 2/3

  21. Attacking the Problem • Decrease Abandonment • Increase Sales

  22. Lands’ End – Leadership in B2C “What’s best for the customer is best for Lands’ End” • Personalized shopping accounts • Virtual Model • Easy Returns www.landsend.com

  23. The 8 Best Practices Bill Demas, VP of Marketing – Vividence, San Mateo, Calif. • Disclose all costs • Show user’s what’s in their carts • Allow customers to change orders • Save cart contents for return visits

  24. 8 Best Practices Continued . . . • Easy use of special promotions • Beef up customer service • Encourage shipping to multiple destinations • Short forms

  25. The Customer - The Key to Success

  26. Reading List • Customer Relationship Management and E-business: More Than a Software Solution, Review of Business; Jamaica; Winter 2003; Edna Johnson Ragins; Alan J Greco; vol. 24, issue 1, pp. 25-30 • Web Assurance Services: What Internal Auditors Need to Know, Internal Auditing; Boston; Nov/Dec 2002; Conni Lehmann; R Steve McDuffie; Bruce Runyan; L Murphy Smith; vol 17, issue 6, pp. 17-23 • Failure to Assure Security Seen Behind Slow Growth of Online Shopping; BusinessWorld; Manila; Jul 2, 2002; Elanore C Sanchez, p. 1 • B-to-C Advertisers Learn Online Tricks From Biz Colleagues; Marketing News; Chicago; Jun 24, 2002; Deborah L Vence; vol 36, issue 13, p. 4 • How Online Retailers Can Attract Customers; Business Times; Kuala Lumpar, Mar 10, 2000; Jennifer Jacobs, p 5 • E-tailing Survival Guide; eCompany Now; Dec. 2000; Stacy Perman • Operations Management 4th Edition; Roberta S. Rusell, Bernard W. Taylor III • Land’s End: IBM technology a perfect fit for its B2B solution; an IDC e-business case study; www.3.ibm.com

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