Sunday, November 24, 2013

4: E-business

Just because some businesses are on the internet does not mean that they lack the competition for customers. Just like brick-and-mortar businesses, who have a physical store, e-businesses have to draw customers to them. They need to have a strategy in order to become successful. No business can stand without a foundation, and 80-90% of businesses cannot survive the first two years of their startup. Even though they might have a great idea, and the internet might be a great channel and platform for them, without clear direction and strategy, it will be doomed to failure.

The internet is a great platform, however the internet can also be a dangerous place if one is not careful. Concerns like competition, copyright and legal issues, security and privacy that might be compromised are very real and it can happen to anyone.

Through the use of media and technology, companies and businesses continually upgrade and update themselves to appear more attractive to their target audience.

Online companies such as, ebay and newer ones like have an international platform to buy and sell (with the exception of goods wherever you are on the planet. It is interesting to note that these platforms are a form of e-commerce as well.

In the example of Etsy, they brand themselves differently from the other e-businesses by positioning themselves as "Your place to buy all things handmade, vintage, and supplies," giving the company a very warm and homey presentation of their brand to their consumers. As an business, it tries to encourage more people to use their platform to get people involved with the company.

The official website contains articles of successful business born from using Etsy. They also feature stories of small business owners who manage to get through difficult parts of their life from the income they receive from selling their goods on this platform.

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