Online selling
- Created by: 14a.williamson
- Created on: 03-02-19 11:31
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- Selling online
- Benefits of selling online
- Reduces their overheads (rent and utilities
- Can have lower prices, which means they are likely to be chosen over competitors
- Customers can buy at their leisure
- Increases customer satisfaction, as they aren’t constrained to opening hours
- Don’t need to have as many warehouses
- Renting land is very expensive, so it will reduce the business’ costs
- Increase market size (worldwide)
- The gives the business the ability to reinvest profits and grow
- Don’t need to be near the physical store
- Having land in an area close to a market can be very expensive
- Offer a wider range of products
- This means it is likely to mean you can access more markets, so get a bigger brand awareness
- Reduces their overheads (rent and utilities
- How to engage with the customer?
- Videos
- Photos
- Search facilities to find needs and wants
- Looking attractive
- Product descriptions
- Feedback and ratings
- Drawbacks of selling online
- Smaller businesses can struggle to compete
- This may mean they have to shut down, and the larger companies get even bigger
- If it goes wrong, the business can’t sell anything
- This will decrease customer satisfaction, so they may go to a competitor instead
- It requires technical setting up
- IT can be very expensive, especially if the business wants it to look professional, which reduces profits
- Good customer service means having a helpline people can call
- This increases costs as the call centre staff will need to be paid
- Easier for people to compare prices
- If another company is cheaper, then they are unlikely to get the trade
- Smaller businesses can struggle to compete
- Benefits of selling online
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