Exploiting Consumer Markets Essay Example

browsing habits of potential customers. The internet has expanded access to previously unavailable products for many consumers, as demonstrated by eBay's global success as an online auction site that offers a shopping experience similar to physical stores.

Even though online shopping provides a convenient way for buyers to peruse descriptions and access numerous items with one click, it falls short of the tactile experience that physical stores have as an advantage over virtual ones.

Although virtual shopping has some disadvantages, it offers an unmatched level of convenience that numerous shoppers value. While not all customers prefer online purchasing, a considerable amount do. To attract those who are merely browsing, organizations must emphasize the creation of an attractive and enjoyable virtual shopping experience.

Initially, the focus is on capturing the interest of consumers and drawing them to the website, according to Hall. Once there, it is believed that most consumers will find something to purchase. Consumers are often categorized as being inclined to spend more money the longer they browse, whether or not they intended to do so. Companies offer promotions like BOGO with the hopes of increasing profits from purchases. Numerous corporations and small businesses vie for consumer attention and sales.

The internet is the perfect platform to advertise anything that has a market, from electronics to pharmaceuticals. Companies must uphold their claims, such as being environmentally friendly, by actually engaging in practices like recycling. Otherwise, consumers won't trust them. Search engines are also used by research companies to gather information about various businesses and organizations.

After conducting research on the internet, companies create reports for sales purposes. This research helps companies understand their available options and their competitors'

actions, making it a valuable tool for boosting their selling power.

Staying ahead requires awareness of competitors, technology, and news. A successful organization prioritizes profit in all circumstances. Making money is the sole means of achieving profit, which requires generating more revenue than costs incurred.

Wal-Mart, a major corporation, has ceased their layaway program to uphold their promise of providing customers with everyday low prices. This decision was made by department managers after experiencing financial losses in that particular area. A news briefing was released in 2006 to inform customers about the discontinuation of the service; however, all other services such as Wal-Mart.com remain available. Despite some customer disappointment regarding the closure of layaway, it has led to a rise in online sales.

As a top retail company, Wal-Mart aims to provide customers with exceptional experiences. To achieve this goal, they have adopted a strategy that removes the necessity for customers to visit the physical store for all their shopping requirements. If an item is not listed on the website, customers can make a request and place an order for it. Any visits to the store often lead to spontaneous purchases and potential additional sales.

The aim is to provide cost-effective prices without neglecting customers' budget. Having both physical and online stores broadens the reach of companies, allowing them to keep up with the changing landscape of e-commerce. Apart from establishing brick-and-mortar shops and websites, businesses also utilize search engines like Yahoo, Google, and AskJeeves to advertise their sites.

(Wong) Individuals who are uncertain about where to search can access these websites and enter their general query. Subsequently, various alternatives pertaining to their topic are presented for them to choose

from. For instance, if a customer conducts a search for gloves on a search engine, they may be offered links to department stores or to specialized glove retailers.

There are no limitations as consumers can receive information on books related to this topic. Additionally, organizations use pop-ups as a popular means to connect with consumers and redirect them to their site. These useful items appear on the screen when visiting specific sites, and by clicking on them consumers will be directed to the organizations' website.

The usage of banners has grown over time, allowing businesses to showcase their name or logo on a single strip that can be linked to their website from the listed page. Banners serve not only as a form of advertisement but also as a business category, in conjunction with pop-ups. These services are provided by entities that charge other organizations for utilizing them.

Usually, businesses will employ either staff members or contracted workers to create a distinctive website that prioritizes customer comfort. A critical element that can substantially impact the effectiveness of a company's site is offering a user-friendly and convenient interface for customers to explore.

Having a website that offers a positive user experience is essential for organizations as it can influence whether visitors return or make purchases, regardless of their profit status. Both profit and non-profit organizations seek to attract traffic and establish long-term relationships with their audience, making the power of online consumers crucial to their success.

For companies to achieve success in business, having customers is crucial. They need to understand that there are other ways of promoting their services apart from conventional methods. A means for businesses and customers to

engage in a continuous conversation has emerged via a two-way communication channel. Chatting is an example of this, where purchasers and vendors can communicate about products or services on the internet, creating an instantaneous link between them.

Efficient communication among colleagues is essential for uninterrupted shopping experiences. Organizations strive to avoid distracting shoppers and prioritize incorporating consumer needs into their business plans. To engage more customers, organizations seek innovative ideas and information about utilizing the Internet.

Merchant desires to utilize the Internet to their advantage by setting up the site correctly; it will work for them endlessly, unlike their physical store. They can ensure success with features like convenient check-out options, 24/7 customer service, and prompt problem resolution.

Online shoppers are motivated by their desire to purchase goods, and businesses can increase their sales by simplifying the purchasing process. Consumers often underestimate their potential spending, which companies encourage by promoting features such as bundled shipping and gift-wrapping, enticing them to make larger purchases.

This is how a proficient organization functions. Its triumph does not just rely on the tactics employed to attract consumers to its website, but also on the techniques implemented to retain them. Anyone can construct a website, but only a commendable one can enhance an organization's online reputation. Sustaining their reputation is pivotal for establishing the groundwork for progression.

Greg ReferenceHall warns that neglecting the internet for business will lead to failure. The source for this information is a retrieved article on October 19, 2007, from thefreelibrary.com.

The following html-tagged text demonstrates the source of an article on marketing tools by Michael Wong from 2007, explaining how to determine the keywords used by customers in their online

searches. The source can be found on the website "mikes-marketing-tools.com" and was accessed on October 20, 2007.The article "The New Rules of Internet Marketing" by Nilofer Merchant can be accessed on the web at marketingprofs.com under the link http://www.marketingprofs.com/7/new-rules-internet-marketing-merchant. It was retrieved on October 21, 2007.The HTML tag

is used to indicate a paragraph of text. In this case, the content is "asp".