I find that in e-markets and e-businesses, many people have ideas, but at the end of the day they are just ideas. Though the idea and thought is put out onto a webspace, the idea may not always work, this is due to web project managers thinking that a cookie cutter website will help benefit profits. Businesses need to understand that GOPST and SWOT analysis and such need to be though of before exploring e-businesses.
I remember reading up on an online company called Kozomo.com, which picked up prouduct/s from a store (A sandwich, a movie or even toliet paper) and deliveried it to the customer's door for a small fee. However, they never considered minimum delivery fees. So when customers ordered items worth $5, the company was making a big loss, which eventually lead to its bankruptcy.
A good example of a dot.com failure is Megaupload. Their lack of attention to a couple of the influencing environments resulted in the company being shut down and its executives arrested. The most obvious is the political/legal/regulatory environment; the executives flaunted their illegal operations in email exchanges and on various other parts of the web. They also made bad decisions regarding their location; New Zealand and Hong Kong both have extradition treaties with the U.S.
For example Egghead.com got bankrupt because the website didn't offer any of its products online and there was no way for customers to inquire about the availability of certain products. The website failed due to lack of product offering. All it offered was high speed internet access.
Also, another way to look at this could be that the many of these websites failed because of the economic pressure plus the lack of understanding of Goals and Objectives (mentioned in the GOPST lecture). The existence of many websites had raised the question, what was the purpose of the site?
I thnk another important point to mention, now that it's 2012, is lack of 'sociability' (socio/cultural environment). Personally some of the most frustrating sites for me are those that don't provide sharing/dissemination tools. Regarding the technological environment as we move from web 2.0-3.0, or the semantic web, it's becoming increasingly important for webmasters to utilize meta data and taxonomies consistent with the standards of the W3C. Marc N pt 1
Increasingly, search engines are being tuned to to categorize query resultss according to these semantic standards and dotcoms that fail to conform to this shifting paradigm will find themselves struggling to rank among their competitors. Marc N pt.2
Conducting detailed research and anaylising about the 4P's and 6E's cannot gurantee success all the time. There is a risk element no matter how well evreything is used and planned categorically(GOPST). Companies having websites can look to initiate by having more custumer feedback and interacting with potential customers more and make them more approachble as to what changes can be made in order to avoid dotcom failures.
Yahoo can be a good example to look at in regards to dot com failure, although not a complete failure yet, they are heading very fast towards it as they are losing market share at a very rapid share.This is only due to the fact that they did not analyze the Competitive Environment properly when Google was launched and also their Product did not keep pace with the competition instead it drifted to the wrong direction. Hence we see the importance of 4P and 6E for dot coms.
Megaupload had a successful run when they created a product that was in high demand, even their pricing strategy was very clever. Overall it was a dotcom success. Until one of the 6 envoirnment which they could not control forced the website to go offline and face legal charges(Politcal/Legal environment) .
To expand further on the currency change, this economic environmental change brings drastic changes in Canada's volume of exports. This then affects the labour force through decreasing job supply and can impact our performance as a Country significantly based on how important exporting is to our sought Trade surplus and overall wealth as a nation. These are very important jobs to Canada. We also notice that even with a higher dollar we as consumers have yet to reap savings on items such as books
I find it interesting to look back only a few years 2012 to 2009.
We see our geographic environment at the time of the video was cold, yet currently our winter is suprisingly warm.
This small change has the power to affect several industries such as local ski hills, snow removal equipment and services, winter clothing sales long term if this continues.
Our currency is also around 0.80 U.S dollars in the video, our exports are hurting as the result of a much higher Canadian dollar in 2010+
I think that the dot com failures happen because companies does not realize that the having of the website is not the ultimate key for success. Like you mention in the video, you have to consider the 4P's and your GOPST in order to succeed. Moreover, you have to analyze how your website is working: analyze the traffic, click-through rates and statistics about the visitors in order to create attractive, easy-to-use, good functioning website.
Comparing dotcom failures to the 4Ps and 6Es is actually a very interesting approach to analyzing why such failures occurred during that era. Around a decade ago, during the dotcome boom, the notion of having a website was not very common, and people were not too familiar with how it should be utilized. The certain reasons for failure greatly depended on either having a very complex website, or just littering it with excessive content.Thankfully, it's more controlled now
I know that this is a bit late, but I think that the class discussion regarding dot.com markets from prior classes pointed out a lot of probable causes for failure. For example, it was mentioned that certain retail stores with their own websites took away from the actuality of shopping in the store. Instead, the retail website allowed customers to shop online. In this light, we can sort of label the website as its own competition.
arocenatrisha - thanks, you made 3 comments on my videos in the last day, but i haveno idea who you are, you did not indicate which college/university, which course, or your first name and last initial
@profwitiger I recently sent you an email confirming which username I am using in YouTube. But I do apologize for the late confirmation. I have been commenting on YouTube videos even before the 3 comments I posted recently, and I hope that those still get counted into my class participation bank. Again, my name is Trisha Arocena (TA); UTM; MGD415 tues(3-5).
I agree with Professor Richardson that knowing the dot com failure is important because it allows companies to learn from mistakes. When dot-com was first published, many companies fail completely in it as they misunderstood how dot com can help them to the road of succeed. Nowadays, most companies owns a web site. In order to leave a great impression to customers, a good web site should think in customer's point of view and provide information that customers want to know.
Alligning 4P's with the strategy is not enough, the companies have to be responsive to the 6 enviornments as Prof Richardson mentioned.
I can recall a great example of a company like Barnes and Noble that was doing well before the entrance of Amazon.com, B&N totally ignored their technological enviornment and were not responsive to changes with regards to the internet, they ignored competition .This worked against them and put them far behind Amazon
Even though the internet has been around for so long, it's still unfortunate to see some firms & even individuals use it in non useful ways. Having a website doesn't immediately lead to success or even a relevant online identity. Its extremely important to have relevant information and be targeted specifically to the intended segment. Having scripts & codes on a webpage doesn't necessarily make it a success having a balance of useful info as well as visual appeal leads to results
This is likely to happen because fans of this niche will visit your online bookstore (if marketed well) instead of Amazon since you focus entirely on what they're looking for.
A lot of online businesses fail because people do not properly research the market they intend to enter. Focusing on a niche market is the answer. For example, if you want to open an online bookstore, you will never be able to compete with Amazon. Amazon simply has far too big of a head start. If you focus on niche books devoted on unique topics such as eating the right foods, managing your money, positive living and healthy relationships, you have a good chance of succeeding.
I believe the competitive environment is the most crucial aspect of the 6 Es to consider. When entering into any particular industry you not only need to be aware of who has failed and for what reasons, but also who's succeeding right now and how can we offer more.
MySpace has lost to Facebook because its UI is unfriendly and inconsistent from page to page - Friendster failed because it didn't allow anonymous page stalking (users could see who viewed their profile).
I believe the competitive environment is the most crucial aspect of the 6 Es to consider. When entering into any particular industry you not only need to be aware of who has failed and for what reasons, but also who's succeeding right now and how can we offer more.
MySpace has lost to Facebook because its UI is unfriendly and inconsistent from page to page - Friendster failed because it didn't allow anonymous page stalking (users could see who viewed their profile). Competitive intel is critical
A lot of people have business ideas, good and bad, and try to implement them without fully thinking the idea through and utilizing tools such as GOPST and SWOT. These simple tools have a significant impact on the future of a business. Furthermore businesses did not understand the behaviours of their customers. Although customers may use/need a certain product, did they need or want to purchase it online? I feel that question wasn't asked during the dot.com failure
Lessons learnt from dotcome failures, businesses are more investing in analytics tool, having a good marketing strategy by itself is not the main reason of success in cyber world anymore. Customers are looking for easier and more appealing ways to shop online or use any websites. Analytics gives businesses an opportunity to monitor customer's behaviour and improve their online services.
Pets,com is an example of how a company did not consider its target markets behaviours and attitudes. The products they offered were needed by the target market, but did the target market need to buy it online? Why would a customer wait one week for something that can be purchased at the corner store? The consumers need was not great enough to warrant a purchase online. This business failure is ranked 2nd in the Top 10 dot-com flops list.
It is very obvious that a lot of people think they can go into business because they had a good idea, the philosophy of build it and they shall come, and do not take the time to consider all the other elements(external environments) necessary for a business to succeed
Technological environment cant be neglected in modern days. It is very true that many websites fail to gain traffic, because they are not attractive enough to enter. Not only, many websites fail to make it user friendly so users tend to simply go find something easier to use.
Dot Com companies failed because people namely investors did not know how to value the companies and you had people overvaluing them when there was no underlying asset.
Actually a lot of investors were destroyed due to financial intermediaries marketing certain ratios which looked promising to the ordinary investor.
A lot of businesses fail because of not being able to consider 6 different environments. Companies try to grow and expand and go internationally..dont take into consideration the competitors or the laws, or exchange rates...
In addition to Kevion's comment about applying market strategy to the website to achieve the GOPST, I think that the technology of the world wide web also creates new competitive means for companies. For example, creating a relationship with customers now is almost necessary for companies to sustain competitiveness. Why?
I believe majority of dotcom failures are as a result of inadequately trained employees and lack of diversification of the work team. Companies today have incorporated the method of group work and these groups comprise of people with different backgrounds so they can provide various ideas to help the company succeed.
I think many e-businesses fail because they do not learn to differntiate their product, service and their overall image from their competitors. I remember doing a project on businesses which offer IT services and by looking at their webpages I could not find one concrete factor which distinguished one from the other, besides the companies logo and slogan. Atleast, if they tried to offer services differently they would be able to build an image of their own.
When starting a dotcom business, people sometimes do not look at the competitive environment. Even if they do look at the competitive environment, they fail to look at how they can take advantage of the other environments (cultural, political, technological, economic and geographic) that their competition may disregard.
I think that many companies after the dot-com era crashed mainly because they failed to have an effective Marketing Strategy that moved beyond the notion of just having a "website". Many companies seemed to operate under the belief that having a website automatically translated into success, when in actuality a website needs to be combined with a meaningful Marketing Strategy that is somehow linked to your GOPST plan so that your website helps you to achieve goals.
In today's technological landscape, anyone can create a website and sell products. Therefore, differentiating yourself in the competitive environment as well as promoting the fact that you're different becomes more important.
yes, the "differentiating" point is important - companies are making more efforts to find, or create, a precise target market segment because it then allows them to appear to be more "different" than the competition's product offering and hopefully this will lead to loyal interested customers
I think the 6 environments is an uncontrollable factor for a dotcom business. Each of them could create threat, opportunity or both. It mostly relies on the depth of the environmental scan, that is, the research part, to measure the chance of business success. (Part 1)
On the other hand, the 4Ps are controllable variables. Especially the online world, customer experience is the core and directly affects the 4Ps. Therefore, adequate service that comes along with the right 4Ps creates the unique customer experience. This will help retain customers in the long run. (Part 2)
I think by far the most important thing a start-up web company needs to do is research and investigate which dot-coms are successful and which dot-coms have failed and then understand, why? Although obtaining many views is one measurement for online success, it is more important to keep the visitors at the site as this is a better indicator as to how useful and interesting your content / product / service is.
Thanks Darija, the point you made "...most rush into it without looking at the competition" is important because it is natural human nature to be enthusiastic about your on ideas - but it is also prudent and wise to check and see if somebody else thought on the same thing before - and check to see what errors and mistakes they made, so you can avoid them - it is true that "the early bird gets the worm"' - but "the 2nd mouse gets the cheese..."
Today, people are constantly rushing into creating a business on the internet, but most rush into it without looking at the competition. This is a huge problem, because what most people dont realize is that there is most likely thousands of people creating similar websites, with similar content. And instead of learning about other dotcom's, or learning from other's mistakes,many dotcom's are failing on the world wide web.
I find that in e-markets and e-businesses, many people have ideas, but at the end of the day they are just ideas. Though the idea and thought is put out onto a webspace, the idea may not always work, this is due to web project managers thinking that a cookie cutter website will help benefit profits. Businesses need to understand that GOPST and SWOT analysis and such need to be though of before exploring e-businesses.
-Konrad Sit
MGD415
xkonrad 1 week ago
This has been flagged as spam show
I remember reading up on an online company called Kozomo.com, which picked up prouduct/s from a store (A sandwich, a movie or even toliet paper) and deliveried it to the customer's door for a small fee. However, they never considered minimum delivery fees. So when customers ordered items worth $5, the company was making a big loss, which eventually lead to its bankruptcy.
Zain K - MGD415
zkMGD415 3 weeks ago
This has been flagged as spam show
A good example of a dot.com failure is Megaupload. Their lack of attention to a couple of the influencing environments resulted in the company being shut down and its executives arrested. The most obvious is the political/legal/regulatory environment; the executives flaunted their illegal operations in email exchanges and on various other parts of the web. They also made bad decisions regarding their location; New Zealand and Hong Kong both have extradition treaties with the U.S.
MGD415 Yi L.
abzoni 3 weeks ago
For example Egghead.com got bankrupt because the website didn't offer any of its products online and there was no way for customers to inquire about the availability of certain products. The website failed due to lack of product offering. All it offered was high speed internet access.
MGD415
Shivani H
shivanihanda689 3 weeks ago
@shivanihanda689 good point
profwitiger 3 weeks ago
Also, another way to look at this could be that the many of these websites failed because of the economic pressure plus the lack of understanding of Goals and Objectives (mentioned in the GOPST lecture). The existence of many websites had raised the question, what was the purpose of the site?
shivanihanda689 3 weeks ago
This has been flagged as spam show
I thnk another important point to mention, now that it's 2012, is lack of 'sociability' (socio/cultural environment). Personally some of the most frustrating sites for me are those that don't provide sharing/dissemination tools. Regarding the technological environment as we move from web 2.0-3.0, or the semantic web, it's becoming increasingly important for webmasters to utilize meta data and taxonomies consistent with the standards of the W3C. Marc N pt 1
x3triLogyx3 3 weeks ago
Increasingly, search engines are being tuned to to categorize query resultss according to these semantic standards and dotcoms that fail to conform to this shifting paradigm will find themselves struggling to rank among their competitors. Marc N pt.2
x3triLogyx3 3 weeks ago
Comment removed
x3triLogyx3 3 weeks ago
Comment removed
x3triLogyx3 3 weeks ago
Comment removed
abzoni 4 weeks ago
Conducting detailed research and anaylising about the 4P's and 6E's cannot gurantee success all the time. There is a risk element no matter how well evreything is used and planned categorically(GOPST). Companies having websites can look to initiate by having more custumer feedback and interacting with potential customers more and make them more approachble as to what changes can be made in order to avoid dotcom failures.
MGD 415
Syed H
usufhasn 1 month ago
Yahoo can be a good example to look at in regards to dot com failure, although not a complete failure yet, they are heading very fast towards it as they are losing market share at a very rapid share.This is only due to the fact that they did not analyze the Competitive Environment properly when Google was launched and also their Product did not keep pace with the competition instead it drifted to the wrong direction. Hence we see the importance of 4P and 6E for dot coms.
Amir, M. MGD415
amir4647 1 month ago
Megaupload had a successful run when they created a product that was in high demand, even their pricing strategy was very clever. Overall it was a dotcom success. Until one of the 6 envoirnment which they could not control forced the website to go offline and face legal charges(Politcal/Legal environment) .
MGD415
Ahsan M.
ahsanai12 1 month ago
To expand further on the currency change, this economic environmental change brings drastic changes in Canada's volume of exports. This then affects the labour force through decreasing job supply and can impact our performance as a Country significantly based on how important exporting is to our sought Trade surplus and overall wealth as a nation. These are very important jobs to Canada. We also notice that even with a higher dollar we as consumers have yet to reap savings on items such as books
JOR23DAN34 1 month ago
I find it interesting to look back only a few years 2012 to 2009.
We see our geographic environment at the time of the video was cold, yet currently our winter is suprisingly warm.
This small change has the power to affect several industries such as local ski hills, snow removal equipment and services, winter clothing sales long term if this continues.
Our currency is also around 0.80 U.S dollars in the video, our exports are hurting as the result of a much higher Canadian dollar in 2010+
JOR23DAN34 1 month ago
@JOR23DAN34 excellent understanding Jordan
profwitiger 3 weeks ago
I think that the dot com failures happen because companies does not realize that the having of the website is not the ultimate key for success. Like you mention in the video, you have to consider the 4P's and your GOPST in order to succeed. Moreover, you have to analyze how your website is working: analyze the traffic, click-through rates and statistics about the visitors in order to create attractive, easy-to-use, good functioning website.
Volha S. BCS555
equilibraful 4 months ago
Comment removed
equilibraful 4 months ago
Comparing dotcom failures to the 4Ps and 6Es is actually a very interesting approach to analyzing why such failures occurred during that era. Around a decade ago, during the dotcome boom, the notion of having a website was not very common, and people were not too familiar with how it should be utilized. The certain reasons for failure greatly depended on either having a very complex website, or just littering it with excessive content.Thankfully, it's more controlled now
Mohammed Macki- MGD415
10cct353MackiM 11 months ago
I know that this is a bit late, but I think that the class discussion regarding dot.com markets from prior classes pointed out a lot of probable causes for failure. For example, it was mentioned that certain retail stores with their own websites took away from the actuality of shopping in the store. Instead, the retail website allowed customers to shop online. In this light, we can sort of label the website as its own competition.
arocenatrisha 11 months ago
arocenatrisha - thanks, you made 3 comments on my videos in the last day, but i haveno idea who you are, you did not indicate which college/university, which course, or your first name and last initial
profwitiger 11 months ago
@profwitiger I recently sent you an email confirming which username I am using in YouTube. But I do apologize for the late confirmation. I have been commenting on YouTube videos even before the 3 comments I posted recently, and I hope that those still get counted into my class participation bank. Again, my name is Trisha Arocena (TA); UTM; MGD415 tues(3-5).
arocenatrisha 11 months ago
I agree with Professor Richardson that knowing the dot com failure is important because it allows companies to learn from mistakes. When dot-com was first published, many companies fail completely in it as they misunderstood how dot com can help them to the road of succeed. Nowadays, most companies owns a web site. In order to leave a great impression to customers, a good web site should think in customer's point of view and provide information that customers want to know.
Gloria W - MGD 415
rabbitgloria 11 months ago
Alligning 4P's with the strategy is not enough, the companies have to be responsive to the 6 enviornments as Prof Richardson mentioned.
I can recall a great example of a company like Barnes and Noble that was doing well before the entrance of Amazon.com, B&N totally ignored their technological enviornment and were not responsive to changes with regards to the internet, they ignored competition .This worked against them and put them far behind Amazon
Saman Memon
MGD 415
memonsam 11 months ago
Comment removed
memonsam 11 months ago
Comment removed
memonsam 11 months ago
Even though the internet has been around for so long, it's still unfortunate to see some firms & even individuals use it in non useful ways. Having a website doesn't immediately lead to success or even a relevant online identity. Its extremely important to have relevant information and be targeted specifically to the intended segment. Having scripts & codes on a webpage doesn't necessarily make it a success having a balance of useful info as well as visual appeal leads to results
Liza H
MGD 415
Liezz1 11 months ago
This is likely to happen because fans of this niche will visit your online bookstore (if marketed well) instead of Amazon since you focus entirely on what they're looking for.
Ammar A. - MGD415
ricaluda 1 year ago
A lot of online businesses fail because people do not properly research the market they intend to enter. Focusing on a niche market is the answer. For example, if you want to open an online bookstore, you will never be able to compete with Amazon. Amazon simply has far too big of a head start. If you focus on niche books devoted on unique topics such as eating the right foods, managing your money, positive living and healthy relationships, you have a good chance of succeeding.
Ammar A. MGD415
ricaluda 1 year ago
I believe the competitive environment is the most crucial aspect of the 6 Es to consider. When entering into any particular industry you not only need to be aware of who has failed and for what reasons, but also who's succeeding right now and how can we offer more.
MySpace has lost to Facebook because its UI is unfriendly and inconsistent from page to page - Friendster failed because it didn't allow anonymous page stalking (users could see who viewed their profile).
Mark S (MGD 415)
1MSTEELE 1 year ago
I believe the competitive environment is the most crucial aspect of the 6 Es to consider. When entering into any particular industry you not only need to be aware of who has failed and for what reasons, but also who's succeeding right now and how can we offer more.
MySpace has lost to Facebook because its UI is unfriendly and inconsistent from page to page - Friendster failed because it didn't allow anonymous page stalking (users could see who viewed their profile). Competitive intel is critical
1MSTEELE 1 year ago
A lot of people have business ideas, good and bad, and try to implement them without fully thinking the idea through and utilizing tools such as GOPST and SWOT. These simple tools have a significant impact on the future of a business. Furthermore businesses did not understand the behaviours of their customers. Although customers may use/need a certain product, did they need or want to purchase it online? I feel that question wasn't asked during the dot.com failure
Ameerah R. - MGD415
amango0oo 1 year ago
Comment removed
amango0oo 1 year ago
Comment removed
nikhitarele 1 year ago
Lessons learnt from dotcome failures, businesses are more investing in analytics tool, having a good marketing strategy by itself is not the main reason of success in cyber world anymore. Customers are looking for easier and more appealing ways to shop online or use any websites. Analytics gives businesses an opportunity to monitor customer's behaviour and improve their online services.
Neda4ka 1 year ago
Understand UR customers behaviors!!
Pets,com is an example of how a company did not consider its target markets behaviours and attitudes. The products they offered were needed by the target market, but did the target market need to buy it online? Why would a customer wait one week for something that can be purchased at the corner store? The consumers need was not great enough to warrant a purchase online. This business failure is ranked 2nd in the Top 10 dot-com flops list.
kostakallianteris 1 year ago
Interesting music choice, lol!
It is very obvious that a lot of people think they can go into business because they had a good idea, the philosophy of build it and they shall come, and do not take the time to consider all the other elements(external environments) necessary for a business to succeed
Kelly D MRK 619
718DKelly 1 year ago
Technological environment cant be neglected in modern days. It is very true that many websites fail to gain traffic, because they are not attractive enough to enter. Not only, many websites fail to make it user friendly so users tend to simply go find something easier to use.
Eugene Leiderman
zaptax 2 years ago
technological environment, social/ cultural enviornments, economic environment are examples that influence the success of a business.
Leo Chow - MRK 619
lchow89 2 years ago
Dot Com companies failed because people namely investors did not know how to value the companies and you had people overvaluing them when there was no underlying asset.
Actually a lot of investors were destroyed due to financial intermediaries marketing certain ratios which looked promising to the ordinary investor.
Clayton
MGTC44
silentsinnr 2 years ago
A lot of businesses fail because of not being able to consider 6 different environments. Companies try to grow and expand and go internationally..dont take into consideration the competitors or the laws, or exchange rates...
K. Pedchenko
MRK619
miki15 2 years ago
Comment removed
MrLorianneL 2 years ago
Part 1
In addition to Kevion's comment about applying market strategy to the website to achieve the GOPST, I think that the technology of the world wide web also creates new competitive means for companies. For example, creating a relationship with customers now is almost necessary for companies to sustain competitiveness. Why?
MGD415
Lorianne L.
MrLorianneL 2 years ago
I believe majority of dotcom failures are as a result of inadequately trained employees and lack of diversification of the work team. Companies today have incorporated the method of group work and these groups comprise of people with different backgrounds so they can provide various ideas to help the company succeed.
MGD 415
Ukoh Atim
ateem 2 years ago
I think many e-businesses fail because they do not learn to differntiate their product, service and their overall image from their competitors. I remember doing a project on businesses which offer IT services and by looking at their webpages I could not find one concrete factor which distinguished one from the other, besides the companies logo and slogan. Atleast, if they tried to offer services differently they would be able to build an image of their own.
Ambrish Patel
MGD415
kobe0936 2 years ago
Comment removed
kobe0936 2 years ago
This has been flagged as spam show
When starting a dotcom business, people sometimes do not look at the competitive environment. Even if they do look at the competitive environment, they fail to look at how they can take advantage of the other environments (cultural, political, technological, economic and geographic) that their competition may disregard.
MGD415
Mark Q.
wikitten 2 years ago
Comment removed
wikitten 2 years ago
I think that many companies after the dot-com era crashed mainly because they failed to have an effective Marketing Strategy that moved beyond the notion of just having a "website". Many companies seemed to operate under the belief that having a website automatically translated into success, when in actuality a website needs to be combined with a meaningful Marketing Strategy that is somehow linked to your GOPST plan so that your website helps you to achieve goals.
MGD 415
Kevieon Barker
dragon2k1 2 years ago
Good point Kevieon - if it isn't contributing to the corporate marketing objectives, it is just a big IT expense
profwitiger 2 years ago
In today's technological landscape, anyone can create a website and sell products. Therefore, differentiating yourself in the competitive environment as well as promoting the fact that you're different becomes more important.
Ramesh K.
SilviaDrift 2 years ago
yes, the "differentiating" point is important - companies are making more efforts to find, or create, a precise target market segment because it then allows them to appear to be more "different" than the competition's product offering and hopefully this will lead to loyal interested customers
WTGR
profwitiger 2 years ago
Comment removed
SilviaDrift 2 years ago
I think the 6 environments is an uncontrollable factor for a dotcom business. Each of them could create threat, opportunity or both. It mostly relies on the depth of the environmental scan, that is, the research part, to measure the chance of business success. (Part 1)
Jennifer L Y Chiu
jenlychiu 2 years ago
Yes, "depth" of the environmental scan is a good point
profwitiger 2 years ago
This has been flagged as spam show
On the other hand, the 4Ps are controllable variables. Especially the online world, customer experience is the core and directly affects the 4Ps. Therefore, adequate service that comes along with the right 4Ps creates the unique customer experience. This will help retain customers in the long run. (Part 2)
Jennifer L Y Chiu
jenlychiu 2 years ago
Comment removed
jenlychiu 2 years ago
I think by far the most important thing a start-up web company needs to do is research and investigate which dot-coms are successful and which dot-coms have failed and then understand, why? Although obtaining many views is one measurement for online success, it is more important to keep the visitors at the site as this is a better indicator as to how useful and interesting your content / product / service is.
Craig B.
ItaliaIrishman 2 years ago
yes, the ".. understand why" part is critical - to figure this out so you can avoid those mistakes
profwitiger 2 years ago
good
08cct353saulnierm 2 years ago
Thanks Darija, the point you made "...most rush into it without looking at the competition" is important because it is natural human nature to be enthusiastic about your on ideas - but it is also prudent and wise to check and see if somebody else thought on the same thing before - and check to see what errors and mistakes they made, so you can avoid them - it is true that "the early bird gets the worm"' - but "the 2nd mouse gets the cheese..."
Prof. WTGR
profwitiger 2 years ago
Today, people are constantly rushing into creating a business on the internet, but most rush into it without looking at the competition. This is a huge problem, because what most people dont realize is that there is most likely thousands of people creating similar websites, with similar content. And instead of learning about other dotcom's, or learning from other's mistakes,many dotcom's are failing on the world wide web.
Darija J.
darija88 2 years ago