Analysis of Consumer and Business Buying Behavior Essay

Analysis of Consumer and Business Buying Behavior - Essay Example In that direction, RetailCo can adopt electronic payment systems like Electronic Funds Transfer (EFT), PayPal and Mobile Phone Payment. These payment systems were selected based on the fact that the target customers of RetailCo are largely upper-class, educated and receptive to online shopping, and so would be interested to buy RetailCo’s products through online mode by utilizing any one of the above mentioned payment systems. Then, importantly as the customers and even the staffs of RetailCo would like to have secure and easy to use payment systems, these options were selected. Apart from the already implemented card systems, RetailCo can first adopt the payment system of Electronic Funds Transfer (EFT), which involves the electronic transfer of money by the customers from their bank account to the account of RetailCo. If RetailCo includes the EFT option, the customers can click it, and it will lead to a list of banks with which RetailCo has a business arrangement. The customers can select their bank (or the bank in which they will have account), enter the account details with their personal password, and initiate the transaction. This payment option provides the customer an easier option to make the purchase, as they do not have to keep their cards with them all the time, and needing to input all the card details, because they can just remember their internet banking details. However, RetailCo has to include all or majority of the banks by making arrangements with them, otherwise, certain customers may find their banks missing in the list. The next key pa yment option that could be included is the PayPal option, where the customers can buy products by transferring their money electronically from their PayPal account. â€Å"Money would be exchanged via cyberspace - all users needed were an e-mail address, a credit card or bank account number and an Internet connection.† (â€Å"Electronic

Competitive Advantage Assessment in google+ Assignment

Competitive Advantage Assessment in google+ - Assignment Example Quality is another competitive advantage that the company capitalizes in (Laudon, 270). The company provides its market with the best quality search engine compared to the others, ensuring that the market always prefer the search engine. Technology investment has been the other factor that the company has applied to gain a competitive edge over the other companies providing search engine services. Google+ is the search engine company that has invested a lot of money in technology, to keep their services at the best of other search engine providers (Laudon, 286). The company keeps updating its technology after short duration to incorporate new features that makes their services more appealing and satisfying to their customers. Monetizing the company’s services is yet another factor that has enabled the company gain a competitive advantage over its competitors (Laudon, 301). The company has been able to create money value out of the various products and services it offers throug h integrating advertisements in all of its provisions. This has enhanced its ability to become the most profitable search engine company, and enabled it to invest in more sophisticated technology than all the other competitors in that market segment. Google+ search engine, based on the porter’s value chain, holds competitive advantage with activities such as supplier power, through differentiation (Laudon, 306). Suppliers deliver material to the company, which are differentiated and specialized, and of interest to the company’s customer base. Another values chain factor is supplier’s volume, which allows the company to create pages that rank their materials based on the volume inputs by the suppliers. Barriers to entry are the other value chain activity that allows it to obtain a competitive edge over the others in the same market segment. These value chain activities have