A S A

UNIVERSITY BANGLADESH

A S A
UNIVERSITY BANGLADESH

Assignment # 01 Assignment on Managing Digital Enterprise Of Digital Market

Prepared For: Sultan Ahmed Assistant Professor Management Information System

Faculty of Business, ASA University Bangladesh.

Prepared By

Date of Submission: 26/ 08 /2009 Name: Md Abdulla All Shafi Batch: 4th

ID: 082-12-0131 Section:

Faculty of Business, ASA University Bangladesh.

AS A
UNIVERSITY B N LA E H A G D S

AS A
UNIVERSITY B N LA E H A G D S

26th August, 2009.

Sultan Ahmed Assistant professor ASA University Bangladesh. Sub: Managing Digital Enterprise of Digital Market. Sir, I would like to inform you that you have given me an assignment of managing digital enterprise of Digital Market. I have collected relevant information on managing digital enterprise of Digital Market and have completed the assignment properly. I therefore, hope that you would be kind enough to grant my assignment and oblige thereby. Yours obediently MD. Abdulla All Shafi ID: 082-12-0131 Batch & section: - 4D.

CKNOWLEDGEMENT

This assignment study report on managing digital enterprise of Digital Market has been prepared for the requirement of the Degree of BBA, under the supervision

and coordination of Sultan Ahmed, Faculty of Business, ASA University Bangladesh. I would like to begin my acknowledgement by thanking Sultan Ahmed for assigning me the topic and for his cooperation and guidance to conduct this assignment. Special recognition also goes to ASA University Bangladesh for allowing me to conduct this study and accomplish this assignment. Finally, I would like to give thanks to the almighty Allah.

Yours obediently MD. Abdulla All Shafi ID: 082-12-0131 Batch & section: - 4D.

Table of contents:
Page No.

Chapter-1

Introduction
1.1 Scope of the study 1.2 Objective of the study 1.3 Methodology 1.4 Limitation of the study

Chapter-2 Findings and Analysis

2.1 Findings and Analysis 2.2 Learning Points

Chapter-3 Conclusion and Recommendation.

3.1 Conclusion 3.2 Recommendation

Reference.

Chapter 1

Introduction:1.1 Scope of the study :-

Digital marketing is a term that has been around for quite awhile but hasnt
been very well defined, encompassing things like banner advertising, search engine optimization (SEO) and pay per click. At its heart, digital marketing centers around the Internet, which has become both a communication vehicle and a very powerful marketing medium as the recent Double-click acquisition by Google demonstrated. The Internet can be used both to push a message to someone like email and voice broadcast, as well to pull content serving a banner ad and Pay per Click search terms. Digital marketing, therefore, can be thought of as the combination of push and pull Internet technologies to execute marketing campaigns. Because it is digital, a reporting engine can be layered within a campaign allowing the organization see in real-time how that campaign is performing, such as what is being viewed, how often, how long, as well as other actions such as responses rates and purchases made. Please note that each digital marketing technology is different and they cannot all provide the same types of reports. Also, digital marketing is constantly evolving and new technologies are being created all of the time.

1.2 Objective of the study: More about to know Digital Market More about to know Digital Market Process More about to know Benefits of Digital Market Understand how the Internet changes the dynamics of market competition;

 Examine the effect of the e-commerce on prices and Examine the effect of the Internet on buyer search.

1.3 Methodology:The data are collected from secondary sources. Secondary sources are:

Website of managing digital enterprise. Expert opinion. Teachers opinion

1.4 Limitation of the study:Every study has some limitation. I have found some limitations. Lack of ideas Lack of study topic Lack of books and websites information

Chapter 2

Findings and Analysis:2.1 Findings and Analysis:-

Marketing

of an organizational function and a set of processes for creating,

communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. The advance of internet technology affects societies and organizations in the way they carry out their activities. For a business, the avenue to stay alive in the market is by embracing and adopting this technology. Internet transforms traditional market environments into enterprise activities such as e-commerce, virtual enterprises, and supply chains. For an enterprise to sustain and to further develop their businesses in a highly competitive market, managers not only manage physical assets and people, but also manage knowledge assets in the digital environment. Digital market is a part of Marketing. Internet marketing, E-marketing and Digital marketing are very similar concepts. All products can be sold using online.

Definition of digital market:Digital market means Just like the buyer who can easily search for the seller offering a
product at the lowest price, sellers can search for the one buyer who is willing to pay the most. Not only do sellers know more about buyers, they also know more about their business partners and about their competitors. Digital market it the management and execution of marketing using electronic media such as the web, e-mail, interactive TV, wireless media in conjunction with digital data about customers characteristics and

behavior. Digital market is worldwide market or network. The main part of digital market is five (5) Ss Following 5S's are

Sell - Grow sales and attract business using digital technologies. Serve - Add value through the benefits of the Internet such as speed. Speak - Get closer to customers by making your business available to them at
home, work or on the go with mobile technologies.

Save - Reduce costs by using information technologies to make your business

more efficient.

Sizzle - Extend the online brand (or create a new one) - remember sell the sizzle
not the sausage i.e. the benefits, aesthetics or value of a product or service rather than its features. Seller 1 Seller 2 Seller 3

Digital or Electronic Market

Customers

Production Distribution Network

Information Production Pic: Process of Digital market

Tools of Digital market:

Tools are digital market are following:

A company can distribute via the Internet. For Ex. Amazon.com. A company can use the Internet as a way of building and maintaining a customer relationship e.g. Dell.com. The money collection part of a transaction could be done online. For Ex. electricity and telephone bills.

Leads can be generated by attracting potential customers to sign-up for short periods of time, before signing up for the long-term e.g. which.co.uk. The Internet could be used for advertising e.g. Google. Finally, the web can be used as a way of collecting direct responses e.g. as part of a voting system for a game show.

Resources of Digital market:

Labor (trained, motivated, retained) Men. Capital (investment/cash flow) Money. Equipment (servers/software/back up) Machinery. Time (project plans) Minutes. Raw materials or components (depends on business) - Materials.

Buyers in the Digital Market:

There are many types of E-business; the ones which directly related to customer are
Business to Consumer (B2C) such as e-tailing, and Consumer to Consumer (C2C) such as e-bay. During the online transaction, customer will pay money gets goods and services, or valuable information. Buyers compare between many sellers - on price, product quality, shipping cost and so on; buyers take benefit from cost saving - save times or reduction transaction cost. For digital marketing on planning, management and operating should be considered about customer interest. Relative customer focus, there are some issues under the planning and operating, why customer is important, especially on price. The consumer behaviors include much different focus, at there discuss on trust, gender and brand affect.

Sellers in the Digital Market:

An obvious characteristic of a seller or a firm in the digital markets is they need to be
highly extensive use of computers, data, information, technology and the internet. Nevertheless all sellers or firms familiar and utilize some or all of those IT technological

components in marketing, production, distribution and customer services processes to a certain level. But by the simply uses of those kind of technologies will not means the seller or firm transfer into todays digital markets. A seller or firm lives in the digital markets may not only those that sell goods and services online but also those that utilize networking and information technologies in their sale promotion, customer support, manufacturing operations, supply chain, marketing etc. Altogether if any seller or firm Adopts those networking and information technologies to help manage and organize their business or other relevant operations will be survive in digital market competitions.

Drivers that support Digital market (e-market) growth and survival:There are
Digital convergence Anytime, anywhere, anyone Changes in org. Increasing pressure on operating costs and profit margins Demand for customized products and services All products can be sold online using identical business models Build it and they will come and The middlemen are out.

Benefits of Digital Market:

There are three kinds of benefits of Digital Market.
i. ii. iii. Benefits of Organization of Seller, Benefits of Customer and Benefits of Society.

Benefits of Organization or Seller:-

 Wider market Decreasing cost of transaction Ability to offer specialized business Allow reduced inventory by facilitating pull type SCM (start from customer order and use JIT) Reduce lead time Initiate reengineering process and Lowers overall cost. Benefits of Customer: Allows customer to shop anywhere, anytime Meet max. customer choices Can compare price Can participate on virtual auction Quick delivery and Facilitate competition resultant is price discount. Benefits of Society: Enables more individuals to work at home Allows merchandise to be sold at lower price Allows even in the rural people to shop Facilitates delivery of public services for Ex. health care, education etc.

Working Process of Digital market:Working process is given bellow,

Buyer logs on to the marketplace

Buyer searches for the product

Buyer selects product

Buyers orders product

Purchase orders sent to sellers

Seller confirms order

Buyers pays for product

Payment information sent to bank

Credit checked

Credit approved

Product shipped

Product received

2.2 Learning Points:

Understand how the Internet changes the dynamics of market competition; Examine the effect of the e-commerce on prices; Examine the effect of the Internet on buyer search costs; Explore the competitive implications of "dynamic pricing"; Compare how online and offline competition stacks-up.

Chapter-3

Chapter-3

Conclusion:Digital enterprise environment emerged as a result of the development of the internet

technology. Digital market is one element of the digital enterprise which includes market participants, online exchange transactions, and the products or services. Buyers or consumers, as one of the digital market participants, are given opportunities to research the product they need by using the internet, as well as are provided with extensive amounts of product choices in regard to products quality, price, and features. Although the products price is one of the contributing factors in customers decision making process, privacy of buyers identity and security of the transactions are revealed as the more important issues in purchasing decision. Sellers race with each other to meet the buyers needs. Buyers digital data are collected and stored in data warehouse and are analyzed using data or web mining tools to provide the current trend of the customers behaviors. These data thus are used in various marketing and promotion activities. Sellers with a more targeted market, as a result of business intelligence activities, historically are proven to be the successful market participants.