Practicing Socially Responsible Practices Internally
In previous articles, we have seen how companies need to adopt CSR as a business need and imperative. The role of media and advocacy groups was discussed as well. In this article, we turn to a crucial but often neglected aspect of a company’s social responsibility i.e. the need to be socially conscious with its […]
SWOT Analysis of Nike
Strengths The biggest strength of Nike is that it is an extremely competitive organization with its approach of “Just Do It” slogan for its brand epitomizing its attitude towards business. The company was founded on the principle that it would make shoes for anyone who could walk or run and this has been the guiding […]
Brief History of Multi Level Marketing
Multi Level Marketing or Network Marketing as it is called world over happens to be a fast growing phenomenon. The fact that anyone, anywhere can become a distributor and earn income from building the network without having to sacrifice any other occupation or additional investment into this business makes it very attractive for people from […]
Porters Five Forces Model of Competition
Michael Porter (Harvard Business School Management Researcher) designed various vital frameworks for developing an organization’s strategy. One of the most renowned among managers making strategic decisions is the five competitive forces model that determines industry structure. According to Porter, the nature of competition in any industry is personified in the following five forces: Threat of […]
Product Management – Key Function in Organizational Structure
Companies have to introduce new products every now and then to stay competitive. The development of new products and managing the lifecycle of the products demand dedicated resources that can incubate new products and manage the product lifecycle. This is the realm of product management that encompasses the roles of product development and product marketing. […]
If internet has had far reaching impact on all walks of life, E trade has had similar impact on all types of businesses. No Organisation big or small, whether a global organisation or an individual owned enterprise can afford to ignore e commerce and e marketing scene. Normally we see people using internet to make their travel bookings like booking airline tickets online, make hotel reservations, look at the places of interest etc. People have also begun to shop online and buy fashion stuff as well as books and other items of interest.
Online buying has not been restricted to these alone. You may be surprised to know that cars are being bought online by customers. This new trend has had the car dealers as well as manufacturers to sit up and take notice of the changes in the buyer’s behaviour. Internet is one medium that transfers the power of information to the users.
In the case of buying a car, the process of buying is heavily dependent upon information. The fact that internet is able to provide detailed information, comparison and all details in the interactive and multimedia mode, customers find it very easy to surf the net for information about the cars.
Comparing specifications, models, and technical specs is easier on the internet for retrieving all the information about various brands can be done by the click of a button. It takes a few minutes to obtain all the information that one is looking for.
Normally this process would have taken several weeks for the interested individual to compile information. Besides the price of the car, there are several other factors that go into the purchase of a car. In the buying process, car financing, warranty as well as insurance happen to be the major determinants too.
It would be interesting to see how auto sales have taken the e-commerce route. Check out the AutoByTel website that offers a comprehensive solution to the customers to buy the car of their choice. This is not a dealer website but works like an exchange which has tied up with dealers, insurance agencies as well as accessory suppliers and other related vendors. Kelley Blue Book and Edmunds.com provide the individuals with the pricing information for each and every model of car in the market.
It allows individuals to do their research, compare prices and models to arrive at their chosen car. Then all one needs to do is to fill up the detailed form online and register with AutoByTel. The exchange then contacts the relevant dealers in the particular area and obtains the best quotes for the car, for insurance as well as the financing schemes, allowing the individual to select the best bargain.
The fact that people are buying cars on through this website shows that the purchasing behaviour and preferences of customers is changing. E commerce is providing them the alternatives. This poses the question to the car dealers as well as the manufacturers about the future of their business models. They have got to take time to understand the internet savvy customers, their behaviour, their concept of value and re design the marketing strategies. This change calls for re-engineering the entire business organisation towards E marketing and Online Selling.
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Mapping Customer Behaviour and Pattern is the starting point of E Marketing
February 12, 2025
