E-Business Assignment

E-Business Assignment

The Basic Concept of E-Business

It has been appreciated that new technological advancement has improved the way of working in the areas of the business, through the revolution of internet that has molded the world of business into a new form with respect of implementing new technologies. Internets intention has come across changing the trends, and the medium through which the businesses use to work and modify the mediums of communication among different players, in the professional world.

The term e-Business is defined as the linkage of the business with the tools and techniques of the information and technologies of communication to enhance and improve the way and the operations, in order to create and deliver value, to its stakeholders, customers and its associates.

Discussion

E-Business Concept

The term e-Business and e-Commerce are relatively two separate concepts. E-Business is the business which takes supports for the commercial association among the company and the customer. The basic concept of e-Business exclaims the proclamation of such a business that is in linked with the overall businesses objective, vision, and the commodities they are offering, which I return would give them the overall profits, and the retained earnings. It is also dependant on the analysis of the market to evaluate and identify the customer types those are most favorable to make the purchases of the product, and also to evaluate how much they are actually willing to pay the amount for the product.

In today's global economy, also called the "new economy," technology was changing the way business is conducted. The currency of information capital and its management was strong. Kotler (2003) stated: Information has a number of attributes. It can be infinitely differentiated, customized, and personalized. It can be dispatched to a great number of people who are on a network and it can reach them with great speed. To the extent that the information is public and accessible, people will be better informed and able to make better choices (p. 231).

Thus, e- marketing strategies added customer value beyond that which traditional marketing could achieve (McKay 2004, Pp 45-56). It was useful to understand the concept of e-marketing within the larger framework of e-business. Fonner IBM Chairman Louis Gerstner (as cited in Riley, 2001) identified e-business as a continuous optimization of a company's business activities through the technology-driven evolution. According to Gerstner, "E-business is all about time cycle, speed, globalization, enhanced productivity, reaching new customers and sharing knowledge across institutions for competitive advantage (Mintel, 2005, pp. 56-67)." Changes in business and marketing

Business process and marketing were changing in the new economy. Customers expected better quality and service; companies faced increased competition; pure e- business models were challenging "bricks-and- mortar" retailers; virtual companies were outsourcing numerous components of manufacturing and delivery; e-commerce had both local and global reach; and a decentralized economic system was prevailing (Gilbert 2003, pp 67-89). At the same time, customer relationship management was the order of the day; market segmentation and target marketing identified the greatest opportunities; customization allowed individualized goods and ...