Retail Merchandising
Merchandising Retail Merchandising refers to the various activities which contribute to the sale of products to the consumers for their end use. Every retail store has its own line of merchandise to offer to the customers. The display of the merchandise plays an important role in attracting the customers into the store and prompting them […]
How Countries Can Reduce Tax Evasion?
Tax Evasion vs. Tax Avoidance Tax evasion and tax avoidance are often used interchangeably. However, there is a huge difference between the two terms. Tax evasion is a criminal activity. In most countries, tax evasion would attract a jail term. Evasion is usually done by not reporting income or overstating expenses. However, tax avoidance is […]
What is Negative Working Capital ?
Traditional financial analysts would consider a negative working capital i.e. having more current liabilities than current assets, a sign of imminent danger. This view was deep rooted in the belief that a company must always have sufficient cash on hands to meet its short term liabilities failing which the credit will dry up and the […]
The Perils of the Immediacy Trap and Why we can and cannot do without it
What is the Immediacy Trap and How we can and cannot do without It We are living in a 24/7 media saturated world which keeps us on our toes almost on a continuous basis. coupled with the proliferation of print and visual media as well as social media, the tendency of most people, whether they […]
Non Random Patterns – Part 2
Shift in the Process: A shift in the process is defined as a pattern in which seven consecutive data points appear on only one side of the mean. Statistical studies have shown that if the number of points on one side of the mean is less than 7 then it is not a non-random pattern […]
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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