Running an e-ecommerce business amidst the presence of fierce industry competition can be quite a challenge. If your e-commerce brand is faltering despite its promising set of expectations, there is a need for a strategic transformation.
Before we jump into GAP Analysis, lets first understand E-Commerce Business
What is E-Commerce Business ?
Electronic commerce or ecommerce is a term for any type of business, or commercial transaction, that involves the transfer of information across the Internet. … It is currently one of the most important aspects of the Internet to emerge.
Types of E-commerce Business :
Typically, E-Commerce business models can be divided into six major types, such as:
- Business-to-Business (B2B)
- Business-to-Consumer (B2C)
- Consumer-to-Consumer (C2C)
- Consumer-to-Business (C2B)
- Business-to-Administration (B2A)
- Consumer-to-Administration (C2A)
What are the business models in e-commerce Business ?
There are primarily five types of e-commerce models:
- Business To Consumer (B2C)
- Business To Business (B2B) …
- Consumer To Consumer (C2C) …
- Peer To Peer (P2P) …
- Mobile Commerce. …
- Other Models.
What is the difference between E-Commerce and E-Business ?
E–commerce refers to commercial transaction over internet whereas e–business is the process of conducting business over internet. E–business is the superset of e–commerce. … Actually it is the same difference as between business and commerce: Commerce is a business but business is not only commerce.
Is E-Commerce part of E-Business ?
E-commerce is part of e-business. Any transaction that results in a financial change is e-commerce. All business transactions be they financial or not is called e-business. Just like marketing includes sales but sales may not include marketing.
What are the advantages of E-Commerce Business ?
Advantages of E-commerce. Doesn’t require much (if at all) physical space. No geographical limitations translates as a bigger customer reach. Higher quality of services and lower operational costs.
What are the disadvantages of E-Commerce Business ?
Technical Disadvantages. There can be lack of system security, reliability or standards owing to poor implementation of e–commerce. The software development industry is still evolving and keeps changing rapidly. In many countries, network bandwidth might cause an issue.
What is the scope of E-Commerce Business ?
Electronic Commerce is more than just buying and selling products online. It also includes the entire online process of developing, marketing, selling, delivering, servicing and paying for products and services.
What are the biggest E-Commerce Companies ?
- Amazon, Inc.
- Alibaba Group Holding Ltd.
- eBay Inc.
- Rakuten, Inc.
- B2W Companhia Digital.
What is GAP Analysis ?
GAP Analysis is the difference between Actual achievement and potential.
Now lets focus on GAP Analysis for E-Commerce Business
Getting a GAP analysis performed is a sound decision for e-commerce companies. This is a crucial step that can give business owners and managers a clear idea regarding exactly where they are lacking. Take a look at why you should consider a GAP Analysis to boost your chances of greater success.
Why GAP Analysis Can Help an E-Commerce Business
A GAP Analysis can lead to many benefits including accelerated performance, raised efficiency and enhanced resource allocation. Every e-commerce business owner has expectations for the short-term and long-term future. The journey from where you are right now to where you want to be can be complicated. Analytical decision making reduces a big chunk of that complexity.
Unless you take a realistic look at the issues holding your business back, your efforts of organizational, categorical (diversifying into newer product sectors) and logistical growth can be in vain. A GAP Analysis can help to accurately pinpoint the aspects that need to be improved to realize the company’s true growth potential.
If you have a clear set of goals for where your e-commerce brand should be in a few years, a GAP Analysis process will prepare you to take the right actions to reach them. Since the e-commerce industry is quite dynamic in nature, businesses should be prepared to grow while they are forced to adapt to new consumer trends.
The above-mentioned points highlight the importance of a GAP Analysis for e-commerce business organizations. Astrology consultation is another highly-effective method that can be used to gain insight regarding your company’s future prospects.
Before doing GAP Analysis, try to correct 7 things to keep great wellbeing of your E-Commercel business says Astro-Strategist Hirav Shah
- Name of the organization : Numerologically and Astrologically it should be with right spellings
- Correct partners : Check the compatibility, strength and weakness of all partners and administrators
- Percentage of shares of every partners : It should be correct balance with one another
- Registered Address & administrative address : It should be compatible with name of the organization and key people of the company
- Logo of the organization : Logos are not good or unhealthy : rather they are either lucky or unlucky. An all around planned logo provides guidance, confidence, faith, energy and importance. and which means. It additionally adds worth to your whole brand equity.
- Web, Print, Digital presence :
Logo, Colours, fonts, Headings, Images, structure, framework all should be in correct place
- DBA (Brand Name): Doing Business As : Name of the Brand can provides direction to the organization. It can support sales, profit and so on it likewise helps for People, Product and Personal Branding
Try to perform GAP Analysis for your E-Commerce business every month. It can be for various aspect of business.
Gap analysis can be used in many areas, such as:
Human resource management
Cost control etc
GAP Analysis using Astrology can help to make strategies and also to help you maximise your full potential and reach your desired results in E-Commerce Business
Keep in mind that Success is the combination of Smart work, Talent and Luck and all are multiplied with each other so if any of this is zero success will be zero. So make sure to add luck part while doing any analysis or making strategies.
If you need any guidance or having questions related to your E-Commerce business, you can have 30 minutes free consultancy with Astro-Strategist Hirav Shah.