Starting a Business Online Assignment Example | Topics and Well Written Essays - 1000 words - 1

Starting a Business Online - Assignment Example They may think the prices are too high and since a sales person is not in front of them to convince them, impulse buying may be limited. Opportunities: After going online, the clothing store can explore and tap a niche market to differentiate itself from the competition. It can position some products as unique to the area in which the store is located. Moving beyond geographical boundaries, there is also an opportunity to build a well-known brand name and more credibility. We can engage more people online, develop a customer database and send them offers/E-greetings etc. in order to create some customer loyalty. Customers who live far away can be expected to pay a visit to the store when they come to Jersey Shore boardwalk. Threats: There are many online stores selling clothing, with very strong channels of distribution and more financial resources. Many have already built a name for themselves so it may be hard to convince customers to buy from a lesser known store. Some competing stores will have more knowledge of foreign markets and perhaps representatives there who can keep them abreast of any changes in those markets in terms of buyers’ needs, affordability, market size/growth, etc. Engaging in e-Commerce means that the business will become an international business and one will have to consider factors such as trust, culture, language, government and infrastructure when catering to foreign markets. First of all, initially the store will select and focus on a few foreign markets, which are close in terms of geographical distance as well as in terms of language, culture, etc. For instance, products can be supplied to the United Kingdom and some other European countries. Of course, the current fashion trends in these countries will need to be looked into but chances are they will be similar. Their culture in terms of clothing is the same, so one can expect them to buy t-shirts, tunics, skirts, pants, etc. English is the