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Variables Influencing - E-Commerce - Lecture Slides, Slides of Fundamentals of E-Commerce

Biju Patnaik University of TechnologyFundamentals of E-Commerce

E-Commerce is taking over the traditional commerce practices. It is of special concern for the IT students. Following are the key points of these Lecture Slides : Variables Influencing, Making Process, Consumer Demographics, Household Income, Internet Usage, Frequency, Web Use, Access Cost, Access Option, Length

Typology: Slides

2012/2013

Uploaded on 07/30/2013

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Variables Influencing Decision
Making Process (cont.)
•Consumer Demographics
Household income (46% at least $50,000/year)
Internet usage profile (Internet access option, length and
frequency of web use & access cost)
Internet access option (63% primarily form home &
58% primarily from work or school)
Length and frequency of use (88% access daily &
33% access 10-20 hours a week)
Access cost (67% pay for their own Internet access &
31% paid for by their employers)
© Prentice Hall, 2000 9
Consumer Decision-
Making Essentials
Consumer Purchasing Decision-Making: Roles
•Roles that people play in the decision making
process
Initiator : the person who first suggests or thinks of the
idea of buying a particular product or service
Influencer : a person whose advice or views carry some
weight in making a final buying decision
Decider : the person who ultimately makes a buying
decision or any part of it - whether to buy, what to buy, how
to buy, or where to buy
Buyer : the person who makes an actual purchase
User : the person who consumes or uses a product or
service After purchase service
and evaluation
Purchase and delivery
Alternative evaluation,
negotiation and selection
Information search
(What? From whom?)
Consumer Purchasing Decision
-
Making
(cont.)
•The Purchasing Decision-Making Model
Need identification
(Recognition)
Customer Satisfaction
& Loyalty
Model of Internet Consumer Satisfaction
Customer
Satisfaction
Logistics Support
Customer Service
Pricing Attractiveness
Web-site Store Front
3rd Party
Seal of Approval
Trust in
Web-shopping
Vendor
Reputation
Repeat Web Purchase
(Brand Loyalty)
Security
Authentication
Privacy Transaction
Safety
Integrity
System
Reliability
Speed of
Operation
Ease of
Use
Content,
Quality
Format
Reliability
Completeness
Timeliness
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Variables Influencing Decision

Making Process (cont.)

  • Consumer Demographics Household income (46% at least $50,000/year)

Internet usage profile (Internet access option, length and frequency of web use & access cost)

Internet access option (63% primarily form home & 58% primarily from work or school)

Length and frequency of use (88% access daily & 33% access 10-20 hours a week)

Access cost (67% pay for their own Internet access & 31% paid for by their employers)

© Prentice Hall, 2000 9

Consumer Decision-

Making Essentials

Consumer Purchasing Decision-Making: Roles

  • Roles that people play in the decision making process Initiator : the person who first suggests or thinks of the idea of buying a particular product or service Influencer : a person whose advice or views carry some weight in making a final buying decision Decider : the person who ultimately makes a buying decision or any part of it - whether to buy, what to buy, how to buy, or where to buy Buyer : the person who makes an actual purchase User : the person who consumes or uses a product or service (^) After purchase service and evaluation

Purchase and delivery

Alternative evaluation, negotiation and selection

Information search (What? From whom?)

Consumer Purchasing Decision-Making

(cont.)

  • The Purchasing Decision-Making Model

Need identification (Recognition)

Customer Satisfaction

& Loyalty

Model of Internet Consumer Satisfaction

Customer Satisfaction

Logistics Support Customer Service Pricing Attractiveness

Web-site Store Front

3rd Party Seal of Approval

Trust in Web-shopping

Vendor Reputation

Repeat Web Purchase (Brand Loyalty)

Security

Authentication

Privacy Transaction Safety

Integrity

System Reliability

Speed of Operation

Ease of Use

Content, Quality Format Reliability Completeness

Timeliness

Organization want loyal

customers (Satisfied Customers)

but how?

Answer: Relationship Marketing

(One-to-One Marketing)

One-to-One Marketing

  • Relationship marketing
    • “Overt attempt of exchange partners to build a long term association, characterized by purposeful cooperation and mutual dependence on the development of social, as well as structural, bonds”
  • “Treat different customers differently”
    • Able to change the manner its products are configured or its service is delivered, based on the individual needs of individual customers

How One-to-One

Relationships Are Practiced (cont.)

  • Doing business over the Internet enables

companies to:

  • Communicate better with customers
  • Understand customers’ needs and buying habits better
  • Improve and customize their future marketing efforts

One-to-One Marketing (cont.)

  • Customer loyalty Purchase behavior One of the most significant contributors to profitability Increase profits; strengthen market position; become less sensitive to price competition; increase cross-selling success; save cost, etc. Real world examples 1-800-FLOWERS Amazon.com Federal Express (FedEx)

Customer Loyalty & E-Loyalty

  • Customer loyalty—degree to which customer

stays with vendor or brand

  • Important element in consumer purchasing behavior
  • One of the most significant contributors to profitability
  • E-loyalty—customer’s loyalty to an e-tailer
  • Learn about customers’ needs
  • Interact with customers
  • Provide customer service

One-to-One Marketing (cont.)

  • Building and maintaining customer loyalty Maintain continuous interactions between consumers and business Make a commitment to provide all aspects of the business online Build different sites for different levels of customers Willing to invest capital, both human and financial, in the information systems, to insure continuous improvement in the supporting technology as it becomes available