Quiz 14: Ebusiness

Business

One can use internet, and raise money by • Affiliating schemes  by placing adds by different shopping sites on his website. If someone buys from that shopping site via his link, one would get a commission. One can also offer an affiliate scheme by placing links to his site on other people's website. In return, they earn commission if one gets any business from the ad. • One can s ell space for advertising to local businesses. One would be required to demonstrate the number visitors he gets. • One can open an online shop. • One can become a part of social networking site. He may create an interest group in which members can learn about a social issue and donate to the campaign. • One can sell their products through available online shopping sites. • One can make videos, and upload the same to generate income. • If one has something really interesting to say, he can start a blog and allow ads to be placed on it. This may generate meaningful income.

The company P's model is backed by the assumption, and most likely several studies that show that users' post images about things they will most likely be interested in buying. The images can also indicate much about the users' hobbies, social network of friends, socio-economic status, and any other information that could be relevant for marketing purposes. In this way, the company can sell information to parties interested in knowing which individuals to target to sell a particular service or product. This ebusiness could be categorized as a pure play (virtual) business that generates revenue in a B2B model (business-to-business).

Any type of business can benefit from internet by making a smart use of it. Below are discussed a few of them. Retail These days, online shoppers enjoy the convenience of shopping from home through internet. Retail stores can benefit by offering sale of various products online as part of their business strategy. However, it is important for sellers must price their goods to reflect cost of shipping in order to remain competitive. Maintain shipping costs to a minimum to ensure consumers that having the product shipped to their doorstep is worth more than visiting to the store. Wholesale Wholesalers can also use an online store to reach a larger customer base. Many wholesalers simply buy from manufacturers and sell products to the retailers. However, the number of businesses using the Internet to find suppliers is increasing. Consequently, there are great opportunities for a wholesaler to flourish. Service Industry The service sector includes businesses such as insurance, finance and consulting firms. These have an increasing the customer base due to their online presence. Services are usually provided in the virtual world. There is no face-to-face contact between the business and the consumer. Apart from new businesses that operate completely online, established businesses can also expand by operating online, and attracting new customers. Business Built for the Web Some small businesses start-up by operating exclusively on the Internet. They bypass the need for a physical location to conduct the business. That is, the business exists on the entrepreneur's personal computer or laptop. Such kind of businesses are less expensive to launch, and also can be operated as a sideline.