The Internet's importance in today's business landscape is undeniable.
Consumer perceptions of corporate online visibility and marketing efforts grow more critical each day. To meet this demand, however, the study concluded that many major corporations, while aware of changes needing to take place within the organization, struggled to follow-through with implementation.
The key questions they recommended established businesses ask themselves are:
• Which business segments should get top priority for e-business? • What are the biggest associated challenges and threats? • Which business models are suitable and actionable? • Are the right people on board to do e-business? • What are the implications for business processes and IT infrastructure?
By analyzing major e-business companies and their marketing model, the study unveiled ten identifiable criteria for success along the customer life cycle in the new economy.
The following chart arranges each critical success factor:
• Ten Success Factors in E-Business
Viewed more closely, the companies analyzed each had practices in place to address the following steps:
• Vision and Top Management Commitment: a Prerequisite for Successful Strategy Development and Implementation • Strategic Alliances: Focus on Core Contributions • Branding: Guide through the Data Jungle • e-pricing: Competitive Advantage through Differentiation • Individualized Service Offerings: Value Added for the Customer • Process Design in e-business: Centered Around the Customer • 1-to-1 Marketing: Personal Touch in Mass Marketing • Community Building: Customer Retention through Networking • HR-Strategy: Management of the No. 1 Bottleneck • Strategic Use of IT: Core Capabilities in e-Business
