Herman Street An Ecommerce Website – Report Writing Sample

Herman Street An Ecommerce Website – Report Writing Sample

Question

Herman Street An Ecommerce Website – Report Writing Sample

Answer Solution

Summary Herman Street is a computer software sales and support website.

The company has both individuals and businesses as its customers.

For the initial launch of a website, the company selected ShopSite software.

However, as time went on, the application ran into issues.

As a result, Herman Street realized that the company needed to innovate and incorporate new technology in order to expand.

The reasons for the gap in the market and the factors that lead to a deviation from an objective set are outlined in the report.

The study suggests a new idea that could help the business on Herman Street.

As a result, one study can conclude that the company would benefit from implementing new technology in the current situation.

Introduction E-commerce is currently the most innovative and rapid method of conducting business.

In the field of business and information technology, it is a brand-new, rapidly developing area.

Internet technologies are being used by a lot of big businesses to change important business processes. According to Reynolds (2004), e-commerce facilitates e-business by providing the environment and infrastructure.

The provided report sheds light on Herman Street. Buy High-Quality Essays and Assignments Written by UK, USA, and Australian Writers for a Specific University, High School, Or College
Herman Street is an online store that launched in 2005. Customers and businesses can purchase computer software and electronics from the e-commerce website at https://www.hermanstreet.com.

The company has simplified its ordering and shopping cart systems over time by making online shopping easy and reliable.

By making the online purchasing process simple and familiar for customers, Herman Street claims to offer the best software and electronics products.

Over the past few years, the website has grown a lot.

The company has hired developers to create and customize the website in order to meet changing customer expectations (About Us, 2014).
However, in order for the business to grow, the company must immediately address challenges presented by sample assignment help services for students.

As a result, the business must innovate in their processes and inputs.

The company’s success is based on its entrepreneurial and innovative skills, such as cultivating existing relationships, establishing strategic finances, and staying up to date on the latest technology.

Innovation is the key to e-commerce’s future success. Processing, accessing, controlling, and managing information at the supply chain level is the most recent trend change (Zhao, 2007).
The report’s goal is to figure out where the e-commerce industry is lacking innovation and suggest ways to boost the company’s performance.

The study takes into account the eCommerce company’s purpose, business concept, target market, future trends, and strategies.

In addition, the report recommends innovation to Herman Street for the company’s successful operation.

Market Gap Analysis Herman Street selected ShopSites to meet their requirements.

Despite the fact that economic applications boost business expansion, they also pose challenges. ShopSite software could not keep up with the business demand for Herman Street products.

The rate of abandoned shopping carts presents a challenge for Herman Street.

It is 49%, which is significantly higher than that of competitors. Its transition to sales metrics worries Herman Street.
custome-assignment-help-services A lot of customers would leave the shopping cart before they bought anything.

The sales metrics, on the other hand, are roughly in line with the average for the industry; however, a company can perform much better by enhancing the shopping experience of its customers.

Shopping cart software on Shopsite also fails to test marketing theories. Marketing split testing is not supported by the application.

Therefore, personalizing the shopping cart application is essential for increasing sales.
In order to learn about competitor strategies, Herman Street should find the gaps.

The gap analysis tool will help the business compare its expected performance to an objective like growth. Figure 1’s analytical tool aids the company in sound decision-making (Steffan, 2008).

Profit gap chart for Herman Street, an e-commerce website (Source: Essential Accounting for Management: Herman Street’s innovative product offerings and competitive advantage distinguish them from rivals (How to Maximize Profit and Boost Financial Performance, 2008).

Marketing, distribution, pricing, and the quality of resources like people or assets are the company’s strengths.

Cash flow constraints, issues with the supply chain, poor organizational management, and insufficient processes and systems are, however, a few of the reasons for the performance gap. (Armstrong 2011,
Both macroeconomic and microeconomic factors contribute to the driver numbers that cause the performance gap.
Factor technological: Businesses and consumers have faced difficulties as a result of the rapid pace of technological advancement.
Political factor: This factor includes the impact that legislation passed by the government had on the growth of technology and e-commerce (Bartol et al. 2008).
Social factors: the level of advancement in IT education and training that enables potential buyers and users to comprehend and utilize new technology.

The virtual marketplace has seen an increase in competition as a result of e-commerce’s rapid expansion.
The growth of the country’s economy, the average income, and the cost of technology, such as hardware and software, all have an impact on Herman Street’s performance.

The company’s operations are affected by the pricing structure for telecommunication infrastructure access and the introduction of novel business models (Introduction to e-commerce, 2013).
The working organization culture of Herman Street’s e-commerce business is influenced by the staff’s attitudes and willingness to innovate and utilize new technology to achieve goals.
Competitors: Organizations that offer similar products and services have an impact on the company’s sales metrics (Bartol et al.). 2011).

In order to outperform rivals, Herman Street should constantly innovate their business processes.
Key factors driving e-commerce (Source: Herman Street, an Ecommerce Website) Introduction to e-commerce (2013)) As depicted in

Figure 2, the identification of macroenvironmental factors affecting business can narrow the performance gap between demand and supply.

By committing to the integration of new technology, enhancing workforce working practices, and providing technological infrastructure to improve organization processes, the gap in the market can be narrowed.

The concept of perceived value is a new one in e-commerce in this century.

Value perception of the customer and the business Perceived value is becoming increasingly recognized by market and organization researchers as a crucial aspect of strategic management.

As the reason for a business’s existence and success, an e-commerce company is increasingly focusing on creating value for its customers.

According to Ferrandez & Bonillo (2007), constructing a sustainable, competitive organization for businesses necessitates the strategic development of customer value.
Values, utility, price, and quality are all ways to define the term “perceived value” in the literature.

In e-commerce, on-line shopping experience, perceived product quality, perceived risk, and product price are essential preconditions for perceived customer value.

According to Chen and Dubinsky (2003), the connection between these variables and the value perception of online customers is investigated.
do-my-assignment The effective design of e-commerce user interfaces can maximize customers’ perceptions of value. According to Egger (2001), electronic commerce businesses must design for trust as more and more goods and services are sold online.
Herman Street has established a strong connection between customer loyalty and profits by providing high-quality goods that add value to customers.

By developing expertise in the e-commerce-specific user interface, the company has increased customer confidence. Through appealing graphic design and a user-friendly interface, Herman Street places a strong emphasis on website interface properties.

Because of efficient relationship management, Herman Street customers have a high perception of their value.

The company’s customer trust has increased as a result of its prompt response to questions, quality of assistance, and efficient handling of queries over time.

The relevant information is easily accessible to the customer at the Herman Street location.

The customer domain model and expectations have been taken into consideration when designing the website.
as shown in

Fig. 3 The competitive advantage is strongly correlated with consumer and business value perceptions.

According to Lee & Overby (2004), customers are price insensitive, recommend products or services to others, and offer suggestions to the company.
A report on an online shopping website called Herman Street 3 Conceptual Illustration A facilitating factor in customer loyalty:

The role of perceived value (2013a) Herman Street places a primary emphasis on developing a marketing strategy that will result in customer loyalty.

As a result, the company gains a significant competitive advantage through customer loyalty.

Customer satisfaction is significantly influenced by perceived value and intention to purchase.

Quality of service and customer satisfaction are priorities at Herman Street.

According to Hu (2013), it is a significant factor in gaining a competitive advantage and maintaining a business.
By committing to designing and delivering products that add value to customers, the e-commerce company gains a competitive advantage for sustainable development in the fierce market competition.

According to Li 2009, Herman Street makes use of improved communication between businesses and consumers to break down time and space barriers.
Herman Street gains a competitive advantage by comprehending customer requirements, increasing the sensitivity of reaction, safeguarding online security for customers, promptly and accurately implementing contracts, and preventing fraud.

Innovation and E-Commerce Relationship Strategies The e-commerce site is a good way to keep and grow relationships with customers.

The site’s shopping cart feature is a direct marketing tactic that lets customers buy from outside their area.

By utilizing e-commerce features of websites to emphasize customer loyalty, the company can, through effective strategies, establish a competitive advantage over rivals (Barkley, Markley, & Lamie, 2007).
The e-commerce company should determine its target market before developing its marketing strategies.

The marketing mix consists of the product, price, promotion, and location, all of which should be planned to increase sales to the intended audience (Shin, 2001).
With effective promotion, efficient logistics, and a variety of product offerings, Herman Street can boost profits and sales. The company will be able to compete effectively thanks to the unique combination of these components, ensuring profitability and sustainability.

Another strategy that lessens the threat posed by product substitutes is innovation.

Another competitive strategy that reduces the threat of rivalry among existing businesses is product bundling.

According to E-commerce and Consumer Goods (2012), Herman Street employs a successful price discrimination strategy that makes it challenging for customers to compare the prices of various product options.
The Herman Street supply chain application software cuts down on the costs of transactions and distribution when delivering goods or services.

As a result, Herman Street must devise a novel solution to the company’s problems with ineffective software shopping cart applications.

A less expensive and time-consuming strategy ought to be implemented by the business.

The business ought to begin by compiling a list of the things that will be incorporated into the new shopping cart solution.
write-my-assignment-help The first thing a company needs is access to the code so it can modify specific parts of the application as needed.

In order for Herman Street to carry out a variety of marketing tests on their website, they also require PHP scripting in order to carry out A/B and multivariate testing.

In order to meet the growing demand for online orders, the company needs software with robust performance and well-written code.
Finding the right shopping cart software with all of the aforementioned features is the company’s most difficult task. Herman Street’s sister company, The Top Ten Reviews, specializes in product comparisons.

By visiting the Top Ten Reviews website, Herman Street is able to compare various shopping cart solutions.

The company can easily and quickly conduct the comparison. Pinnacle Cart is the only such highly rated and brand-new e-commerce application.

The shopping cart from Pinnacle Cart meets all of the essential requirements, so Herman Street can use it.
Their conversion rate will rise as a result of the shopping cart innovation.

The eCommerce feature of the Pinnacle Cart meets all of Herman Street’s essential requirements.

As a result, the company can experiment with novel strategies for increasing their response rate, ROI, and market perceptions by switching to the Pinnacle carts solution, which is an innovation in shopping cart software.
The company will be able to manage its existing inventory, order management, and accounting programs with assistance from the Pinnacle Cart software.

Pinnacle Cart’s export feature enables Herman Street to prioritize and personalize system modifications.

Revenues will rise and customer satisfaction will improve as a result of the switch to Pinnacle Cart software.
The e-commerce strategies will improve CRM and HRM processes in the business.

The company ought to be aware of the significance of customer relationship management for efficient forecasting and decision-making.

According to Information & CRM in e-commerce (2013), CRM is an essential business strategy for managing customers and optimizing long-term value.

Conclusion The potential advantages of increased sales, improved return on investment (ROI), lower costs, and increased sustainability are reflected in the rapid expansion of business-to-business and business-to-customer.

According to Niranjainmurthy, Kavyashree, Jagannath, and Chahar (2013), the e-commerce company Herman Street has a lot of potential to boost operational effectiveness across the entire supply chain.

The difficulties Herman Street encountered in maintaining an e-commerce business are discussed in the report.

The company will benefit from the introduction of new shopping cart software because it will speed up the buying and selling process and make it easier for customers to find products.

The software for the pinnacle Cart application can handle more requests for orders.

The company will be able to reach more customers in less time thanks to the innovation. Operating expenses will be reduced and service quality will improve as a result of the introduction of new software.
The integration of upgraded technology throughout Herman Street’s front- and back-end businesses will result in process optimization and significant business benefits.

The innovation will make customer service and responsiveness better. By responding to general inquiries quickly and thoroughly, upgrading software will increase sales. Better relationships between staff, customers, and suppliers will be made possible by the change in technology.

Overall, the company built customer loyalty and trust by investing in new technology for a well-built e-business system (Benefits of E-Commerce, 2013).
Herman Street will be able to successfully test their marketing theories and capture customer intelligence with the help of the Pinnacle Cart software.

The company will be able to anticipate customer needs, create customized products or services, establish fair pricing strategies, and provide superior delivery, support, and feedback systems with the assistance of this.

As a result, it is possible to draw the conclusion that the company stands to benefit greatly from the introduction of new technology.