Unless you have been living under a rock for the last two years, you have heard about e-commerce! And you have heard about it from several different angles. For example: You have heard about all of the companies that offer e-commerce because you have been bombarded by their TV and radio ads.
You have read all of the news stories about the shift to e-commerce and the hype that has developed around e-commerce companies. You have seen the huge valuations that web companies get in the stock market, even when they don't make a profit. And you may have actually purchased something on the web, so you have direct personal experience with e-commerce.
Some of the long-term impact of electronic contracting on the nation's business will be: Ability to move fast enough to launch product while it is still relevant; Flexibility to be able to adjust focus as project develops; The right infrastructure and vendor relationships; an advantage in your chosen market that cannot be easily replicated; competitor awareness and analysis; and the right team to be able to simultaneously progress multiple facets of the project.
Some of e-commerce pitfalls are: unrealistic revenue projections and ill-defined revenue streams; Insufficient target audience to support the venture; Technical complexity acting as a barrier to easily adaptability of the site; Not involving the marketing function early enough or deeply enough; Better understanding of customer journey through the sales process; Appreciation of the cost of costumer acquisition and the value of customer maintenance; Not being able to get real time marketing and knowledge about the project's performance; Losing control of the projects through outsourcing core responsibilities....
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