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Portfolio 1: Recent Developments in E-Business - Social Media Marketing
Marketing is an important aspect for the businesses as it advertises the products or services in the market. The term marketing can be understood as the process of advertising the products and services in the market which includes market research and advertising. Social media is a platform which is widely used by people for the purpose of interacting and communicating with each other in a cost and time effective manner. Nowadays these platforms are being used by the businesses for the purpose of promoting or advertising the products or services offered by them. Social media marketing can be understood as the process which enhances the traffic on the websites of the business or organisations or gaining the attention with the help of social media websites or platforms. Social media marketing can be defined as the type of internet marketing which uses social networking platforms or websites for the purpose of marketing the product or service. Social media works as a marketing tool which promotes the business of the organisation. Social media provides a huge platform to the business so as to reach the larger number of people (Carlson & Lee, 2015). Social media platforms help the organisation or business to communicate with the customers and to listen to the issues or problems they have and to solve their queries. Social media marketing enhances the performance of the business by supporting the business in different ways. It helps the business by showcasing the brand, improving the communication channels between the business and the society, enhances the traffic on the websites of the business and reduces the marketing cost as it is an effective measure which reduces the cost as well as time involved in the marketing activities. Social media marketing creates huge impact over the decisions of the customers. Businesses use social media platforms for sharing the details about the business and the products or services offered by it among the society in an attractive way. It is playing a vital role in expanding the business by promoting it and the services offered by the business. Social media marketing enables a business to interact with the customers and collecting their responses and feedbacks so as to ensure the satisfaction level of the customers. In the current scenario Social media marketing is gaining much importance as there are various social media platforms which are popular among the society and they work as a platform for the promotional activities of the businesses (Alharbie, 2015). These platforms are used by the businesses so as to spread awareness among the society about the business and the services offered by the business. Businesses are displaying the details of the products or services and offering discount and offers so as to enhance the sales of the business. For example: AirAsia is a low cost airlines and for the purpose of spreading awareness about the flights launched for Australia they launched a Facebook campaign and this Facebook campaign has resulted into increase in the numbers of passengers of AirAsia (Carlson & Lee, 2015).
Portfolio 2: Different types of E-Business - Launching of applications of the websites
The trade or commerce in expanding its area of operation on the internet for the purpose of better communication and providing quality services to the customers for enhancing their satisfaction level. It is in trend to launch the applications of the websites so as to attract the customers over the business and to operate in a safe and secure manner. The main motive behind the development of the applications is to provide better services to the customers by driving them towards the services or products offered by the business. The features of the applications are better than that of the websites as the applications offers better user interactions. The basic aim of launching the applications is to attain the specific task (Goldstein, 2011). The applications help in targeting the audience in an effective manner and enhancing the satisfaction level of the targeted audience. Applications provide personalisation to the customers so as to choose as per their wish and there are various applications in the market which are offering offline access to the customers so as to access the application without having an active internet connection. An application is developed so as to give personalised touch to the website and to serve the single purpose in a better and effective manner. Applications are focused over the completion of the specific tasks without any delay or without any fuss and displays the primary features at a single place. Various websites are offering different benefits to the customers so as to attract them for using the applications. It is an effective measure to handle the traffic over the websites in an effective manner. An application can be downloaded and used without an internet connection. It can be used frequently and repeatedly by the users as and when required and these applications provides a safe and secure medium for the purpose of sharing the personal details. Applications send notifications to the users for reminding the users about the offers or products. Applications use the features of the mobile or the device on which the application is used which provides better experience to the customers or the users. The websites are developing and launching applications as these applications are designed by using advanced features which helps in performing the operations in a better manner and provides new branding experience to the users which can vary from the regular style of the websites and the speed of the applications of the companies are faster in comparison to the websites (Worcester, 2014). From the analysis it has been analysed that the users spends more time on the applications in comparison to the websites. For example: online shopping brands Flipkart and Myntra have developed their applications so as to give a personalised touch to the users and to enhance the experience of the users by providing variety of different features and a better platform for the shopping. Flipkart and Myntra are offering discounts and offers to the users on using the applications for shopping (Goldstein, 2011).
Portfolio 3: Impact of E-Business - Methods of payment for online websites and applications
With the change in the technology and the business environment, various innovations have taken place and these innovations have given rise to availability of the physical world over the internet. All the products or services needed by an individual are offered over the internet so as to satisfy their requirements or demands. The transaction took place on the online medium and for the purpose of making payments there are various options available. The methods of payment need to be safe and secure so as to safeguard the confidential details of the customers from the misuse. Online websites and applications are offering various methods for making payments so as to provide a relaxation to the customers. These online payments mode differs from the website to website. There are numbers of payment modes available which include cash on delivery, payment through debit or credit cards, payment through net banking or cash cards. With the change in the business environment the modes of payment also changed and the virtual cash got invented which facilitate easy payment for the services or the products purchased from online websites. Virtual money has acted as a safety measure for the customers as it has reduced the use of physical money and the cases of fraud due to the physical money and theft of the personal details of the cards of the customers (Hove & Karimov, 2016). There are different features attached with the different modes of payment and the customers select the payment method which is suitable to it as per it convenience. Online websites and applications need to adopt flexible measures for the payment so as to provide flexible means to the customers and to make them feel comfortable by providing comfortable or flexible conditions. Online websites and applications also need to make sure that the security aspect is overlooked so as to safeguard the users of the website or application from harm as there are various harms which can affect the interest of the users or customers adversely. This change in the technology and concepts of trade and commerce has given rise to the internet trends and the number of users of these online services are increasing due to the various features or facilities offered by these websites and applications. These payment methods attract the customers to make payments as per the suitable measure according to them (Leonidio, et. al., 2011). For example: online shopping websites and applications such as Flipkart, Amazon and Myntra are offering variety of options for the purpose of making payments for the purchase made by them from these websites and applications. These online shopping websites and applications offer different modes for making payments. And the latest trend they have adopted is making payments using virtual cash so as to ensure that no harm is done to the users of the service (Hove & Karimov, 2016).
Portfolio 4: Technical Research Skills - E-Booking for hotels, restaurants, tickets and other business entities
With the increase in the online trend, there is a rise in the online services offered by the different business entities to the society. The world is moving towards the online mode so as to enhance the performance of the business and to improve the services offered to the users of the service so as to improve the quality of the life of the individuals using these services. E-booking can be understood as the measure which works over the internet so as to book tickets over the internet by the customers or the users and making the payments with the help of different payment modes. With the increase in the competition and development in the technology there has been a rise in the services offered on internet. One of these services includes E-booking services for the hotels, restaurants, buses, flights, trains and other businesses so as to book the tickets using internet so as to eliminate the efforts involved in visiting the places. Different business entities are offering E-booking facilities so as to provide comfort to the individuals which are using the services. E-booking facility helps the individuals to book the tickets using internet so as to book the tickets. With the changing environment movie tickets and other tickets are also available through online mode and these enhance the satisfaction level of the customers. Customers or the users of the services avail these services by the websites or the applications. Advanced bookings are done so as to gain the services on time and to reserve the tickets of the hotels. These facilities are very beneficial to the people who frequently travel from one place to another due to official or personal purpose (Wong, et. al., 2010). The concept of E-booking has been proved an effective and efficient measure which has helped the businesses to expand the area of operation and to make people aware about the business entities and about the services offered by them. Every businessman is identifying the ways which will help it in improving the quality of the services offered by it so as to satisfy the needs of the customers as well as to enlarge the customer base and to attract large number of customers. E-booking services are also offered by the tour and travel industry so as to promote tourism by offering the services at the large platform. Internet act as a platform for the purpose of promoting the services of the business as well as providing services to the individuals or customers in a better manner. These services have benefited to the business in an effective manner (Labbé, 2011). For example: Dominos has launched website and an application for its users or customers so that they can check the menu and order the food from dominos. All the hotels are offering the bookings through online mode so as to provide the booking services to the large number of users with a motive to enhance their customer base as well as enhance their performance.
Portfolio 5: Skills- Tie-ups of the business entities with the other websites and applications
Tie-ups can be understood as joining hands with the other business entities so as to offer the services or the products of the business entity to its customers. The basic motive of the tie-ups on internet is to combine the variety of services or products at a single platform which helps the customers or the users to avail the services at a single platform (Balaji & Kumar, 2011). These tie-ups provides benefits to the businesses as well as to the customers as they can use the different services or products at a single place and these tie-ups also provides discounts or different offers to the customers which enables the business to improve its customer base by satisfying the needs of the customers. With the increase in the role of the online trend tie-ups between the different applications and websites is common as it provides benefits to the business entities as they have better resources and innovative services with them for serving the customers well. Tie-ups were initially seen in the real world which acted as an inspiration for the online businesses so as to develop their operations and to improve the performance by enabling a better business environment which focuses over the needs of the customers. One of the recent developments in e-business is the businesses making tie ups with other businesses to provide excellent services to the customers. the main motive or objective behind these tie-ups is to enhance the performance of the business by providing quality services to the users at a common platform and generating better combinations of the different services or products. There are some e - businesses that are formed and established with the motive of providing the services to the end consumers by making collaboration with the other merchants through their own websites or applications on mobile. These types of businesses are actually the ones which purchases goods or services from the makers and deliver them to the customers at the best possible prices and also provide hassle free process. For example: Zomato is a food ordering application which enables people to order the food they want to consume. Zomato operates in 23 countries which also include Australia, United States and India. It gives the information about different restaurants in different cities and provides information about their location, menus, and reviews from the customers and ratings from them which help the other customers to make their decisions regarding the visit to the particular place or for placing order from there. This type of business is the recent development in the e- business industry as it is in high demand by the customers. Zomato gets paid for the banner advertisements it does for the restaurants and when specific event is advertised on Zomato by the other business venture, Zomato gets a share of revenue for this promotion (Rishi, 2012).
Portfolio 6: Regulations - Net banking, online transfers and mobile banking
In this dynamic world all the transactions are carried out over internet so as to reduce the time and cost involved in the transactions. This increasing trend of the online transactions have given rise to the increasing need of the online systems which helps in making and receiving payments over the internet in a safe and secure manner. With this increasing need to the online system for making and receiving payments internet banking, mobile banking and online transfers were invented. The reason behind the invention of these services was to make the life comfortable and easy and to reduce the burden of the users as well as of the service providers (Singh, 2014). The banking system has initiated these services so as to provide a flexible means for conducting transactions to the users so as to make their life comfortable and hassle free. These provides benefit to the banks also as it reduces the operating cost of the banks and provides benefit to the users as these services can be used or availed anytime and anywhere. Payments can be made and received in a flexible manner and all the transactions are carried in the form of virtual money in a safe and secured manner. It acts as an advantage for the users of the service as well as disadvantage as the leakage of the information can harm the interest of the users. These services can be used for other purposes also as these services are not limited to online payment or receiving, user can access the account and other aspects of the account such as account summary, past transactions and many more with the help of net banking and mobile banking. It has served as a link between the different entities and helps in carrying the financial transactions in an easy manner. The banks or financial institutions are making efforts for the purpose of promoting these services so as to execute the operations in a better and systematic manner. Banks and financial institutions ensures that the safety of the confidential information by using security systems. There are various advantages of using net banking, online transfers and mobile banking which enhances the quality of life of the individual as well as reduces the load of banks and financial institutions. Access to these services is even easier as these can be accessed from the phones or from the computers or personal laptops with the help of active internet connection (Bhatt, 2016). Individuals need to keep the information safely so as to ensure that their confidential information is kept confidential. All these services can be availed in an easy step so as to gain advantage from these services. For example: financial institutions are offering online banking or net banking services to the users so as to reduce their load to personally visit the institutions for the purpose of availing the services. These net banking and mobile banking offers wide range of services which helps the individual or user to carry the functions or transactions in an easy manner.
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