E-MARKETING

Importance Of Creating Online Value Co- Creation And Website Trustworthiness



Importance Of Creating Online Value Co- Creation And Website Trustworthiness

Introduction

The globalization and increase in the technological advancement around the world have lead to the fierce competition among the organizations to maintain their value in the online marketplace. Most businesses are taking advantage of the online communities in order to develop themselves through the tools of brand management, marketing, promotion and customer relationship management. The purpose of implementing such tools is to create a strong reciprocity and trust among the customers and target market. There are some businesses that hold a physical existence in the market but make use of the online marketplace for their marketing and customer relationship needs. Others are highly dependent on the online marketplace and considered to be virtual businesses which do not have a physical existence in the marketplace. However, they have made a strong brand image using online business tools that helps them in development and progression in the competitive market.

Businesses have realized the importance of online value co- creation that would help them in their marketing and trust building requirements from the customers (Kambil et al., 1999). Businesses involved in online shopping services are highly dependent upon the trust of their customers. For this reason, they have to maintain their websites in a proper and efficient manner. The trustworthiness of websites is dependent upon various business tools that would be analyzed in this paper. This paper discusses the importance of value co- creation in the online marketplace that helps the businesses in conducting, maintaining and spreading their businesses online. It also describes the practical aspects of the marketing strategies used by online businesses. The online strategies of two well known businesses namely Apple and Amazon are also analyzed that provides an in-depth understanding of the concepts of online value co- creation and website trustworthiness.

Online Value Co- Creation

Internet is considered as a perfect marketing tool for business practitioners. Companies cerate their presence online that is, on the web, in order to compete in the dynamic business world. The online presence of a business is mainly determined by its website. Some businesses develop internal websites or web services to create value for their business. Others may hire a professional web designer through outsourcing for getting the information of the customers, products and potential customers. The demand for innovation has transformed the ways of co- creation of value for the customers and business. Previously, the businesses produce goods and services for the customers and make use of marketing to provide those series and products to the end users or consumers. However, with the advent of online value co- creation process, the consumers are directly involved into some of the businesses processes. Co- creation leads to a dynamic relationship between the firm and the customers by engaging the customer into the business processes of production and distribution of firm's value.

The satisfied consumers are thought to be the strongest tool that could help the companies in creating ...