E-Commerce the Exchange Essay

1373 Words Mar 1st, 2013 6 Pages
E-COMMERCE: THE EXCHANGE
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Abstract
Through the innovations of technology evolved e-commerce. E-commerce is a form of business where transactions or facilitation of business are done on the Internet (Khurana, n.d.). E-commerce “eliminates limitations of time and geographical distance,” as well as “streamlines operations and lower costs” (Khurana, n.d.). Through e-commerce startup, businesses can either do exceptionally well or fade out. The businesses that will exceed make use of resources available to them, as well as having knowledge about their customer base and competitors. The ExchangeHunterJumper.com is an e-commerce business that will be reviewed to discuss how the owner made her business
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Aslin started The Exchange from her experience with horses (Laudon & Travor, 2012). Riley (2012) states that many entrepreneurs’ sources of start-up business ideas may come from business experience, personal experience, and observation. Business experience is having experience in a market or industry. Personal experience is from day-to-day life dealings, or hobbies or interest. Observation is observing what is happening around you.
Aslin’s personal and business experience with horses gave her the opportunity to start a business that had a void. Aslin’s observation of the horse market led her to fill that void by connecting horse professionals and clients in need of high-end horses (Laudon & Traver, 2012).
In the early stages, The Exchange customer base was small due to many reasons: prospective clients were not computer savvy, there was negative perception of equine Internet advertising and lack of personal technology, and a small budget. However, through perseverance, time, effort, and the ability to gain trust and a respected reputation The Exchange customer base has grown immensely (Laudon & Traver, 2012). It is clear Aslin knew the importance of customer relations management (CRM). CRM is about having a strategy to handle customer interactions. Mastersons (2007) states that it is important to manage customer relationships by finding ways to manage and gather customer data and committing to using the data to better serve

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