AssignmentOnAnalysis of Human and Organizations Behavior

Assignment Topic:Consumer Perception on web based business in Bangladesh: A study on bikroy.com

Submitted to:Md. Zillur RahmanAssistant ProfessorDept. of Business AdministrationShahJalal University of Science & Technology, SylhetSubmitted by:ID (36th Batch)NameSignature

SK Sazzadur Rahman142020102002

SK Zahidur Rahman142020102025

Ismat Tajrin142020102049

MD. Mehedi Shazalal142020102033

Thomina Akhter142020102023

Ummey Humaira Begum142020102020

Partha Sarathy Baidya142020102011

MD. Sazzad Hossain142020102051

Date of submission:

IntroductionObjective of the studyTo identify, To find out, To see, To look out, To investigate, To recommend, To figure outTo find out leadership style, To find out some solution, To see performance analysis of last 5 yearsMethodologySecondary data: [SHORT 3 or 4 lines] We have studied based on secondary data. We also used internet or we have personally contacted (I talked with a rikshaw puller) [1-s2.0-S1878029611008425-main.pdf]Theoretical backgroundWeb based business (E-business)E-business is broader than e-commerce; including the transaction based e-commerce businesses and those who run traditionally but cater to online activities as well. An e-business can run any portion of its internal processes online, including inventory management, risk management, finance, human resources. For a business to be e-commerce and e-business, it must both sell products online and handle other company activities or additional sales offline.E-business is not just about E-commerce transactions; it's about re-defining old business models, with the aid of technology to maximize customer value. E-Business is the overall strategy and E-commerce is an extremely important facet of E-Business.Consumer PerceptionConsumer perception is a marketing concept that encompasses a customer's impression, awareness and consciousness about a company or its offerings. Customer perception is typically affected by advertising, reviews, public relations, social media, personal experiences and other channels.Data analysisSite NameAlexa RankBD Rank

Bikroy.com5,12915

Olx.com.bd10,46934

Cellbazaar.com10,84338

Clickbd.com23,174123

Rokomari.com58,074279

Collected data step by step (at least 1 page)Rank, Literacy, Familiar to E-commerce, ForecastType of customer, MediumComparison to worldwide,FindingsPerception: Good, BadPerceived ease of use refers to how less effort is required in order to use the system. Attitude towards e-commerce positively influences the intention to shop online.Perceived risk on online shopping, Privacy risk, Uncertainty risk, Trust, In consumer-marketer relationships, trust is considered to be a catalyst because it raises the expectations in the consumers to have successful transactions.Human error Error while data entry by the employees or accidental deletion of dataTechnical failure Server/Hardware/software crashFraud credit card, information, paymentVirus attacks and hacking threatsWhen people cannot view or feel the products they want to purchase they are in a bigger dilemma when they want to transact. Their decision to purchase will solely rely on other factors such as reputation of a web retailer, the perceived risks involved in transactions, their own previous encounters with buying something online, the frequency of their purchases, etc.Features, SWOT (threats: risks) (expansion: 761-2115-1-PB.pdf), Challenges, factors: Techofobia..RecommendationSolutions + Effectiveness3 (761-2115-1-PB.pdf)ConclusionConcRef

[Times, 12, 1.5, Justified]

5. ARISING CHALLENGES, SOLUTIONS AND EFFECTIVENESS

5.1 ChallengesThere are huge challenges that should be overcome before start ecommerce. Some of these are as follows.

Lack of educationGovt. / Pvt. Corporation noninvolved Cultural traditionPoor concept of online marketingPoor ICT education and training Internet usage cost highNo proper agreement for shipping policy Lack of Privacy policyFeeble Site development and maintenance Less marketing or promotePolitical problemBusiness and enterprise less interested to move Lack of first moverBanking sector are not negotiateable for electrical trans- actionHigh cost of products/services comparing traditional marketInternet coverage arena is limited. Communication is haphazard over the country Collection of multiplicity is very low.Lack of trustable business and enterpriseLack of experience of meeting directly with merchant and customer

5.2 Solutions [12]

Build a business, not a website. E-Commerce is not only a website. This is more than this. An e-commerce site is often as distinctive as the business model it follows. For example, any of the following might also apply:

Product relationships/suggestions (up-selling)Customized/Personalized productsTicketing and unique code generation (for use on differ- ent sites/services)Discounts, Coupons, and Gift Cards Tax calculations and exemptionsMultiple currency and multilingual support Fulfillment and inventory management Notifications (both administrative and customer) ReportingOne-step checkout Multiple payment methodsData Migration (from an existing store or database) Integration with non-commerce services (e.g. marketing data collection, newsletters, sharing purchase infor- mation on a social network)

5.3 Effectiveness [10][11]

Effectiveness is the success issue of the work. However, this study observed various triumph in several dimensions that are out come result after exploitation online market.

Most important role to build up digital Bangladesh.Create a direct relation from manufacturer to consumer Eliminate value chainEliminate market middlemen Great option to create employmentExcellent chance to buy products/services in low cost Abolish the negative cultural traditionSecure and easy payment system Save the consumer timeSecure marketing policyEliminate consumer and provider haphazard scheme Great option to gather IT knowledgeComparatively less capital to open online market spaceVirtual customer service (Easy and quick) Enormous quality of servicesConsumer has multiple options to choose the products and servicesFast and easy shopping Tremendous grad of servicesSupreme bargaining optionMentionable Revenue for the country Etc.

SWOT analysis of bikroy.com

Strength

1. C2C business model2. Revenue model Advertisement3. Target Audiences- All BDs Population4. Payment system hand to hand during receive the product5. Cover up arena Six Divisions6. Collection of multiplic- ity-More than Thirty dif- ferent categories product7. Easy to use the site -No Need registration to up- load ads8. Privacy policy - Hide personal information to post ads9. Also support Bengali language10. Support social network

Weaknesses

1. No value proposi- tion Most of the products are old.2. C2C causes Con- sumer generated business model.3. Lack of B2B, B2C business model4. No Multiple revenue model-Sales of goods, Transaction fees, Subscription fees, Affiliate.5. No online payment system.6. Shipping policy up to consumers.7. Site design Can- not see the products in different dimen- sion, no shopping cart option.8. Currency support Only BDT/Taka.9. Global rich- no support.10. No Competitive advantages- As Consumer gener- ated.11. Lack of Market opportunity Not include multiple business model

Opportunities

1. Has option to turn Multi- ple business model2. Has chance to eliminate market middlemen3. Can create employment4. Audiences may gather IT knowledge5. Option to run secure Online payment system- that helps one step to run E-banking6. M-commerce that may cover all target audiences7. Marketing that may bring first mover facility

Threats

1. Market strategy may fail- because user generated2. Products are old- User may reduce3. Risk of hand to hand transactions because of dishon- est user4. Shipping policy time consuming so consumer may move to better one5. Firm profit may fall down Because of limited revenue model