Strategic Plan
mcc61
E-COMMERCETECH.edited.docxRunning head: E-COMMERCE TECHNOLOGY 1
E-COMMERCE TECHNOLOGY
E-commerce Technology
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Overview
Jimmy Beans Wool is a company in Reno that sells fabrics and yarn as a retail store. It is owned by a couple who are software engineers and stock both brick-and-motor in their store. This small company has a total of 37 employees and was founded in the year 2002. Five years down the line, this company was making sales worth $1 million and increased to $ 7 million by 2013. Between 2007 to 2012, this company grew at a rate of 50% per year. Jimmy Beans was founded in the year 2002 as a small store, and it developed due to its creativity and use of social media platforms such as YouTube, where it started posting product reviews and instructional videos in 2008, marking the beginning of its sales. In 2011 the sales of this company began to fall as the owners fell into the trap of wanting to sell a variety of products and make as many sales as possible for it had just been recognized by the nation for its fast growth. It, therefore, began to sell fabric alongside the yarn and expected much more sales, maybe double or triple in a few years. The couple, thus, moved the company into a bigger space which included offices, warehouses as well as retail areas. They hence invested a lot of money into renovating the new premises.
Ms. Zander, the wife of Mr. Zander, made a lot of effort to improve the marketing of her company and forgot to do the primary role of giving creative leadership that resulted in videos and many other successful activities, which led to falling in the sales of their company. A lot of other wrangles arose as the company spent a lot of money to spread its fame to the extent that it ran out of cash and lost its identity. Before, employees would sit down and share personal views about the business, and that was no longer happening. Mr. and Ms. Zander even started to dig out of their own savings so as to be able to pay their employees. After realizing the troubles, the company was going through the couple hired a consultant that helped them in making things right and going back on track. As they worked together, they were able to regain their momentum and were also able to come with a better plan on how to expand the business ("International Small Business Journal," 2017).
Technologies that can be used to enhance the E-commerce business
In the 21st century technology, the use of technology has become the order of the day with almost everybody being able to access digital gadgets all over the world. This has made it easier for any enterprise to market their goods online and make sales through online shopping. This has also made life easier for consumers as they can order products online and get them at their doorstep. They can also check the price of the products online and order what they can afford without necessarily going from one shop to the other looking for the products they can afford to buy. This platform of online marketing has become competitive and has thus called for firms to become creative so as to remain in the competition. The following ways are creative ways which Jimmy Beans Wool can use so as to stay ahead of the game and improve their sales, thus making more profit.
Omni-channel support
Online shopping involves a series of actions from making cross- channel research to making consideration before a purchase is made. It is, therefore, important for Jimmy Beans company to ensure that they use the right technology that does not hinder interactions across channels and devices; thus, customers are able to get what they want where they want it. Video charts, for example, creates a platform for customers to interact with the businesses face to face and thus improves the quality of personalized visual demonstrations, cross- channel, and consultation processes. Co-browsing allows the customers and agents to interact directly from a current visual page, and thus, the agents are able to guide the customers through complicated procedures. Screen sharing is an interaction method that helps customers to sort problems involved with completing transactions and filling out forms with the help of the agents as share their screens with them. Document interaction involves the safe communication of the business with customers' documents. The explained procedure promotes an interactive journey until purchases are made and thus encourages customer satisfaction and hence creates customer loyalty resulting in more sales(DeLone & McLean, 2016).
Mobile shift
This is the shift of a firm to using mobile platforms to enhance its prominence. Recently businesses are concentrating in equipping their technologies with more friendly mobile qualities, for failure to do so may result in avoid state. E-commerce mobile apps are one way in which a company can create a mobile-friendly virtue, and these apps enable the customers to familiarize themselves with the product as well as the required purchasing terms. The location-based market is another virtue of enhancing mobile shopping; this virtue involves the business marketing products that are related to their geographical whereabouts. VR technologies are also useful in creating an emotional connection with the product being sold. The above virtues are also very useful in promoting the sales of any firm and would, therefore, be helpful I promoting the sales of Jimmy Beans Wool company(DeLone & McLean, 2016).
Image search
Last but not least is the integration of image search as a technology on their websites. This helps the customers to be able to take a photo of the brands around their premises and access similar products on other sites in better terms of sale. For example, you can take a picture of a beautiful dress in a store that is costly and thus not affordable and use this particular image to find a similar suit in a different website and at a better and more affordable price. This helps the consumers to save on cost and allows companies with reasonable terms of sale to make more sales and thus make more profit to its benefit. Jimmy Beans Company can also apply this modern technology and thus boost their sales(DeLone & McLean, 2016).
References
International Small Business Journal. (2017). International Small Business Journal: Researching Entrepreneurship, 19(1), 110-111. do: 10.1177/0266242600191011
LAS VEGAS SANDS CORP., a Nevada corporation, Plaintiff, v. UNKNOWN REGISTRANTS OF www.wn0000.com, www.wn1111.com, www.wn2222.com, www.wn3333.com, www.wn4444.com, www.wn5555.com, www.wn6666.com, www.wn7777.com, www.wn8888.com, www.wn9999.com, www.112211.com, www.4456888.com, www.4489888.com, www.001148.com, and www.2289888.com, Defendants. (2016). Gaming Law Review and Economics, 20(10), 859-868. doi: 10.1089/glre.2016.201011
CHINA, M. (2019). Ways to Improve the Management of The Economic Security of commerce Companies. IBIMA Business Review, 1-10. doi: 10.5171/2019.126670
DeLone, W., & McLean, E. (2016). Measuring e-Commerce Success: Applying the DeLone & McLean Information Systems Success Model. International Journal Of Electronic Commerce, 9(1), 31-47. doi: 10.1080/10864415.2004.11044317
