Online Stores Offers Competitive Advantage
Comment by Sabina:
In an unstable economy such as our current economy every business must seek a competitive advantage. Our economy has suffered a recession in the last few years, many people have lost their jobs, families have lost their homes and disposable income has disappeared. All business must develop a strategic business plan to gain a competitive advantage, allowing them to stay in business and establish success. In this paper I will discuss how offering online services and online stores have a competitive advantage in the market.
Stores that are fully online can keep overhead cost low. Online businesses do not have to pay rent for space, and in many case they can keep cost lower without additional expenses. Store front business has many expenses such as electricity, insurance for the location and many other expenses. Online stores require fewer employees since the business is operated from a website. Since online stores can keep their cost low, they can then pass on the extra savings to the consumers giving them the competitive advantage.
Online stores offer a great competitive advantage to busy customers. Customers who do not have the time to go shopping or price shopping can go online and find the product they are looking for. Customers can gain information about the product, different brands available and find the best price. Customers can make their purchases online, and it will be shipped directly to their...
Despite this array of potential benefits I also came across numerous obstacles including risk issues that encompass security and privacy concerns. With this in mind when starting my own business I'll will focus to prevent and take every precaution possible to overcome and therefore give myself advantage over the competition. Potential customers how many have you talked to? While attending seminars, talking to friends and meeting new people during my research
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