I need an explanation for this Business question to help me study.
Create your own e-commerce business in Saudi Arabia (website or mobile application), you need to explain the process that you will follow in building your e-commerce presence.
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Before you begin to build a website or app of your own, there are some important questions you will need to think about and answer. The answers to these questions will drive the development and implementation of your e-commerce presence.
Set up Your E-Commerce Presence
➢ What is the idea? (the visioning process)
Introduce your e-commerce business.
Product and type of services.
➢ What are the different types of products? Explain
➢ What kinds of services are provided by your online store? [ customer service, exchange and return, delivery and payment options] Explain
➢ Where’s the money: business and revenue model
A general idea of how your business will generate revenues
➢ Who and where is the target audience? Demographics, lifestyle, consumption patterns, etc.
➢ What is the ballpark? Characterize the marketplace. – Size, growth, demographics, structure.
➢ Where’s the content coming from?
➢ Know yourself— conduct a SWOT analysis.
➢ Develop an e-commerce presence map.
➢ Develop a timeline: Milestones. – 6 phases.
➢ How much will this cost?
Building an E-Commerce Site: A Systematic Approach
➢ Planning: The Systems Development Life Cycle
▪ Business objectives. What are the capabilities you want your site to have?
▪ System functionalities (Shopping cart, payment system …. etc.)
▪ Information requirements (Dynamic text and graphics catalog … etc.)
▪ (Logical and Physical)
▪ How it will look likes in terms of design and format
Building the system (a simple website layout)
▪ Create your own website using wix.com www.wix.com
▪ Or you can design the layout using any free e-commerce website template.
The development of e-commerce required a great deal more interactive functionality, such as the ability to respond to user input (name and address forms), take customer orders for goods and services, clear credit card transactions on the fly, consult price and product databases, and even adjust advertising on the screen based on user characteristics.
➢ Functionality for web server
➢ Provides basic functionality for sales
• Online catalog
• Shopping cart
• Credit card processing
➢ Underlying computing equipment needed for e-commerce functionality
➢ Right-Sizing Your Hardware Platform: The Demand Side and the Supply Side
Payment and Security
➢ What are the methods of payment you are going to use in your online store and why?
➢ What are the commonly used technologies to secure your online transactions?
Categorize marketing and advertising strategy and method.
➢ Identify the online, offline and social media marketing strategies you will use to bring people to your website?
Explain your business e-commerce process
➢ Explain in detail all the steps from the time a visit is recorded until the final user buys a product.
Conclude your report.
Guidelines for the assignment:
✓ Make sure to include the cover page with all information required.
✓ This is an individual project, which is part from your course score. It requires effort, search and critical thinking.
✓ Use font Times New Roman, Calibri or Arial.
✓ Use 1.5 or double line spacing with left Justify all paragraphs.
✓ Use the footer function to insert page number.
✓ Ensure that you follow the APA style in your project.
✓ Your project report length should be between 2200 to 2500 words.