Electronic and Mobile Commerce Essay Example | Topics and Well Written Essays - 1000 words

Electronic and Mobile Commerce - Essay Example Today, managing an online business is much easier than managing conventional businesses because various legal and economic factors affect the progress of conventional businesses. The shift towards online businesses is based on multiple factors some of which include complex legal requirements in starting conventional type businesses, decreased rate of employment, and rapidly progressing economy. The rate of unemployment is increasing in every part of the world these days and the salaries are also not big enough to meet daily expenses of life. Therefore, along with the move of established companies towards mobile commerce, more and more individuals are also focusing towards internet businesses in order to earn a respectable income. Considering these benefits of online businesses, almost every big or small company aims to make an online presence. Let us now discuss what established companies need to do more to make a shift towards mobile commerce. ... earching the functional cope of required initiatives, they need to work out the sustainability features of all benefits that they may get from shifting towards online business. The last step is to prioritize the initiatives in order to develop a proper mobile commerce strategy regarding what to be done and in which sequence. Technology, service, market, and brand are four key positional factors that companies need to analyze while developing a successful mobile commerce strategy (Watson, Berthon, Pitt, & Zinkhan, 2008). Having discussed the plan for established companies to shift towards mobile commerce, let us now discuss some main components that play the most significant and primary role in running an online business successfully. 1. Internet Internet is the main component of mobile commerce without which the aim of running a business online cannot be achieved. Internet helps companies in reaching international markets, as well as in introducing products to a broad range of local and foreign customers. At present, internet has become one of the extensively used technologies that companies use to reach success in a very short span of time. Facebook, Twitter, Amazon, eBay, and Groupon are some of the main examples of companies that have achieved a reputable name in online business sector. 2. Website Website is another main component of mobile commerce. A company aiming to go online needs to develop a well-organized and fully functional website to make people aware of its products and services. A good website plays the role of a stepping-stone towards the success of a company because it is the only way people can view the business and products of the company. A website not only makes customer aware of a company’s business but also serves as a key marketing agent for