KENNY BOOKSTORE

Virtual Shopping and Online Marketing



Virtual Shopping and Online Marketing

Introduction

The emergence of online marketing makes more demands on the work of the marketer. First, it is timeless awareness of global market, which has no government, customs and other boundaries, but with its inherent cultural and national characteristics. One must first understand the basic phenomena that operate in the new environment, its fundamental elements, technology, economics and marketing. Dedicated tendencies become a base, using which one can understand the essence of successful strategic marketing activities, the best tactics and emerging opportunities, to predict their next use.

On the basis of the discussion that is done in part A of the task it can be concluded that going online and making the books available online is in great benefits for the organization. This paper will discuss the competitive advantage for virtual shopping and marketing online for Kenny's business based on the discussion in part A of the task.

Competitive Advantages for Kenny

Kenny should be proactive to meet the changing online marketing environment. The technology has changed the way of doing online marketing since last decade. Online marketing goals and objectives are only as good as the business objectives—bottom-line growth, new customer acquisition, international expansion, Companies are discovering new ways to use Internet technology in daily business (Burke, 2009, pp. 56). For example, cloud computing can benefit any business. Companies can use this kind of software to set up web-based meetings. Cloud computing may allow businesses with various locations to meet online.

Following are some of the major competitive advantages for the Kenny's business for virtual shopping and marketing online:

New Online Promotional Strategies

Once the organization register its online presence and begin its business online then, the organization can also launch online promotional activities. For instance, Kenny can launch competitions for reviewing the books online or discounts or free offers for the online books (Dholakia et al, 2002, pp. 45). This would increase the sales as well as it would also keep the customer engaged and connected with the brand.

Ease of Customer Relationship Management

With the help of online business it would also become easy for the company to maintain profitable customer relationship. Kenny can easily receive feedbacks through comments and e-mails. E-mails and comments are easy to be tracked rather than the plethora of papers of letters.

Pricing and Shipping Efficiency

Shipping efficiency and pricing can be the major competitive advantages or hand grenades in an online store's shopping cart (Fox, 2008, pp. 78). Try to make a profit on shipping charges; Kenny is more likely to lose the sale than gain the margin.

Other Competitive Advantages

Lack of spatial localization, the ability to perform activities outside of binding to a particular area or local market;

Providing opportunities to reduce time searching for partners, carrying out transactions, product development, etc.;

Reduction of information asymmetry (its incompleteness and unevenness of the distribution) and, consequently, reduced information transaction costs;

Reducing other transaction costs, including overhead costs (travel, loss of the failed, illegal or unfair transactions), lowering the risk associated with uncertainty;

reducing ...