Social Electronic Commerce for Opportunities- MyAssignmenthelp

Question: Discuss about theSocial Electronic Commerce for Opportunities. Answer: Literature Review Electronic commerce (e-commerce) is the processes of conducting business online (Qiang et al. 2017). Electronic commerce is being greatly facilitated by the continuous growth of technology. Internet-enabled technology is changing the development of e-commerce. Currently, the development is a bit fast because of increased use of Internet in the business field. Application of e-commerce has enabled companies to trade with other firms and consumers globally at whatever time (Turban et al. 2009). This process has brought about more business opportunities. The use of social media such as Twitter, Facebook, YouTube, Instagram and Skype amongst others has caused many business opportunities (Srinivasan, Anderson Ponnavolu, 2002). The massive popularity of social media has brought new opportunities as well as stumbling blocks. Currently, social media seems to be transforming all online activities. As a result, brands have started to allocate bigger parts of their total financial gains to inc orporate social networks into all aspects of their business from marketing and sales through customer service (Siau, Ee-Peng Shen, 2001). The evolution of traditional commerce to social business seems to be developing at a recommendable rate (Lu, Yao Yu, 2005). The customer experience of online buying is personalized, and customers are the new outlets of social media. The corporate sector can be termed as greatest beneficiary courtesy of internet growth. Most companies currently have reacted and developed their e-commerce to tolerate with the changes. Enterprises have also employed qualified IT experts to ensure that they are kept up to date with growth on the internet (Laudon Traver, 2007). We also have some businesses which have been eliminated as a result of the challenge of their traditional business model. This company identifies the opportunities and problems associated with social electronic commerce by reviewing past studies and articles addressing the same. The recent research and reports are also keenly analyzed to identify the major addressed key points on opportunities and challenges of e-commerce (Laudon Traver, 2007). The findings of the paper will be of great use since they will provide ideas on writing the research proposal, which will create a way for the final projects. Opportunities for Social Electronic Commerce The possibilities of social electronic commerce are diverse. They can be categorized on consumers and owners of businesses. The options are widened due to the tremendous growth of technology. The rapid changes are because of maximum utilization of mobile phones and new technologies in our daily life (Lu, Yao Yu, 2005). A study conducted recently revealed that social media is used to engage with brands by 63% of consumers while about 50% of the users get to know about the products they require from Facebook, blogs and brand videos (Srinivasan, Anderson Ponnavolu, 2002). Another study also found that friends opinions and websites were also influential in shaping sentiments (Siau, Ee-Peng Shen, 2001). Incorporation of the New Media Recently studies have found social media to have an excellent relationship with the users (Qiang et al. 2017). The relationship, with customers who prefer purchasing products online or getting information about products they require. Social media incorporates customers through listening and engaging with them (Liang, Ho Turban, 2011). Incorporation of new media by facilitating communication between the parties involved businesses has posed a great challenge to the traditional methods of conducting business. Another conducted research found a similarity with Qiang report. The study indicated that communication platform is essential in any business, especially when doing online business where both parties are physically absent (Laudon Traver, 2007). Listening to customers and finding creative ways to engage them in the transactions are necessary factors of affecting any firm. Customers are also in a position to get adequate information and pictures of the products offered through the application of social electronic commerce. It is achieved through the business providing access to the entire store and posting the completed looks on the Facebook page to the customers (Bingi, Mir Khamalah, 2000). The studies reviewed portrayed social media as a channel which helps businesses widen their market. Conversations are also allowed between the buyer and seller and as result customers can question about the posted products and provide their opinions on what they expect. Integrated Shopping Experiences. Through continuous development of Internet, globally online sellers are experimenting with alternative platforms to advertise and sell their products (Turban et al. 2009). Social media such as Facebook, Twitter, Instagram, Skype, and WhatsApp are an into e-retail sites which involve e-commerce functionality in social networks (Lu, Yao Yu, 2005). According to research conducted it businesses that many enterprises have opted to go online by creating, online platforms where customers can visit, view and order products. Accounts have also been established where the users (customers) are allocated private accounts where they can order and pay for the products. Another study also found that retailers are trying to encourage some innovative activities like unique logins and customized payment pages (Bingi, Mir Khamalah, 2000). The two studies show similarities in integrated shopping experiences associated with social media. In both studies, customers can visit the social sites of the comp anies and order goods of their choice. The services are considered to have advantages to the customers since the services offered are made high and fast checkout (Liang, Ho Turban, 2011). Engaging Customers There exist empirical evidence that social electronic commerce is bringing great convenience to the consumers (Kaplan Haenlin, 2010). Customers can do shopping at any time at any places as virtual stores are open all times. They are not expected to carry their gods since they are delivered at their home. Customers are therefore able to shop comfortably without standing in queues. Digital products can also be downloaded for consumers instant entertainment. Previously customers were forced to wait for a reply from the hotline. The procedure of waiting from hotline is opposed to the application of social electronic commerce since customers can easily find answers from the websites. Consumers usually surf the vendor's website, search for the required goods and services and view the specifications of the items as well as prices. Another study opposed the opposed the aspect of social media engagement of customers (Bingi, Mir Khamalah, 2000). The report argued that social media hinders pe rsonal relation between buyer and seller. Some services which require direct contacts cannot, therefore, be processed efficiently. Mobile Commerce Mobile commerce involves the activities pertaining conducting business at different places. The processes have been facilitated by the increased use of cell phones (Kaplan Haenlin, 2010). The development of smartphones promoted mobile commerce. The social applications like WhatsApp, Facebook, Twitter, Instagram, and Skype can be downloaded and installed on the smartphones (Fraser McDonald, 2000). Since most businesses operating online are applying social electronic commerce, it becomes easy to order and buy products. Another study stated that online firms usually own accounts in the social networks whereby they often post the items they offer as a method of advertising (Applegate et al. 1996). The buyers can see the pictures of the products and keenly read on the specifications of the products. Competition has also grown amongst the online firms and therefore leading to concentrating in a wide range of quality products to attract many potential customers. Through this processes bus iness transactions are performed fast, and mobiles, therefore, become important sales platform (Applegate et al. 1996). The reviewed studies show mobile commerce to have played a critical role in facilitating business processes. Currently, many companies have taken steps to attract many mobile shoppers. Some retailers are offering promotions for their mobile customers. Gaming Mechanics Now, some companies are applying gaming mechanics to attract customers. A recently conducted study revealed that the entrepreneurs and marketers are using the game mechanics to engage customers (Siau, Ee-Peng Shen, 2001). The commonly most used Microsofts active, a controller gaming device that senses the space, voices, facial appearances, and movements. From previously conducted studies, there is empirical evidence to show that the gaming mechanics is posing a significant advantage to the enterprises (Fraser McDonald, 2000). The gaming mechanics plays a role in attracting the user then it shows the products offered by the company. Some customers who visit the companies sites may only be interested in the games (Haung Benyoucef, 2013). The two studies show a contradiction, but there always exist a possibility of serious clients purchasing. Through the process companies, potential customers are drawn thus increasing the sales. Through these processes, firms end up making a profit, and they are likely to prosper since it is the core goal of any business organization. Problems of Social Electronic Commerce Studies conducted in the past that there are various advantages realized after an industry adopts social electronic commerce (Kim Srivastava, 2007). However, there are problems, which are associated with the application of social electronic commerce in the enterprise. The problems are hindrances to the business achievement of the goals. Some of the significant challenges related to using of e-business in business include: Lack of Trust Lack of trust is reportedly one problem affecting the adoption of social electronic commerce. Many firms have seized adopting modern technology because they lack trust in online transactions. Trust is a critical issue in any trade of any kind. Lack of confidence in online business transactions is affecting both the business community and the consumers. A study conducted stated that lack of trust amongst parties involved in business transactions hinders trading activities (Kaplan Haenlin, 2010). The low levels of confidence in social electronic commerce can be associated with lack of physical interactions among the involved parties. Research conducted has found that there are some actions, which can be employed to improve the trust of clients (Haijli, Sims, Zadeh Richard, 2017). Customers can be educated on security and privacy issues. Legislation framework aimed at protecting trading parties can be established (Fraser McDonald, 2000). The above-reviewed studies come to an agreemen t that lack of trust is a major problem affecting social electronic commerce. The perception of the social network as an instrument that can threaten trust need to change and view it as a way, which can be applied to safeguard the clients. To ensure that consumers improve their perception on the social electronic commerce transactions efficient use of encryption mechanisms can be utilized. Confidentiality Social electronic commerce involves sharing of confidential information. Some of the social applications require registration before one can begin using them. The business transactions through social electronic commerce have raise issues amongst users (consumers) on confidentiality of their personal information or details (Kim Srivastava, 2007). The changing privacy rules and instant sharing through mobile makes social networking users concerned over their personal information. A study recently conducted revealed that most consumers shy off from online transactions because they dont like disclosing their personal details to people they dont know or cannot trust (Haung Benyoucef, 2013). Kim and Srivatsa, as well as Haung and Benyoucef, together agree that fear of disclosing personal details hinders social electronic commerce. Lack of the confidence to disclose their information can be closely associated with low levels of trust. To curb the challenge businesses wishing to prosper in the aspect of online trading should establish a well detailed and comprehensive privacy policy (Fraser McDonald, 2000). Lack of Optimized Product Pages Most companies operating social electronic commerce have not optimized their pages in an orderly manner. The search engines used by online consumers through social networking sometimes bring the unexpected results (Haijli, Sims, Zadeh Richard, 2017). Previously conducted studies have reported that online buyers sometimes do not get the products they require after visiting different companies social platforms. The search engine robots usually crawl websites to check for relevant information that they can match with search requests. This may result to unexpected results if the company has not ensured order in the social network (Fraser McDonald, 2000). Without good information search engines will have no way of knowing what the websites are all about and will fail to rank search results related to the products sold in companies social electronic commerce. Many social e-commerce businesses may make a blunder of posting online pictures of the products they offer, short title and prices (Haung Benyoucef, 2013). The two studies come into agreement that failure to describe products well hinders social electronic commerce processes. Search engines do not look at images the same way people do but rather depends on other information that will help them index the pages for future search queries. Lack of Product Reviews Online users heavily rely on opinions of others before purchasing products (Liang, Ho Turban, 2011). Most consumers who buy products through electronic social media do not rate the goods and consideration. The recently conducted study revealed that customers usually buy online products, which have been reviewed or rated by other online buyers (Kim Srivastava, 2007). The application of social electronic commerce to companies may not attract the expected number of customers due to lack of reviews (Haijli, Sims, Zadeh Richard, 2017). The above-reviewed studies show correlation between customers reviews and some sales. They both agree that lack of product reviews might lower the volume of sales. To curb this challenge, the online firms can adopt good review social application where customers can quickly place their reviews on products they purchased or viewed. Conclusion Due to the continuous growth of technology, many companies have opted to go online to attract online buyers as well as increasing the volume of sales. This process is aimed at achieving goals and objectives of the firms. 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