Product/ Service Customization Model
M & S moderately or diligently aligns its products and ideas based on the dynamic or ever transforming market trends and fashion needs. According to the case study, M & S is highly concentrated in the fashion industry and its ever-growing demand for its exclusive garments and customized accessories. Hands-on approach is mostly utilised by modelling agencies to fulfil the industry’s standards, and in the process valued customers attain assistance from M & S to enable open communications pertaining to the required alters to be made to placement orders. M & S has put in place two forms of communications to assist customers who require to voice out changes to the company, namely user software and mobile computing accessibility. This forms or modes of communication enables customers to connect to the M&S network via mobile devices such as notebooks or portable computers in order to have access to data and menus for any necessary changes to orders or customization of requests.
This type of business model does not necessarily disclose or abolish the physical sense of the business environment (offline) but alternatively it concentrates mainly on operating the online business aspect part of it, that is, utilization of the World Wide Web. Business when operated online is quite fulfilling in the sense that the products, consumer rebates and Nett purchasing experience are understood in details. Most of the decisions are influenced by user reviews or observations, proper committee recommendations, and discounts that are mostly popular online than on physical stores. Due to the boundaries or limitations in the physical stores, the diverts the business to utilizing the online shopping market and in the process converting customers to make online oriented purchases.
QUESTION 2: LIST THE DIFFERENT EC TRANSACTION TYPES USED BY M&S Business-to-business (B2B) – Collaborative commerce & warehouse management Business-to-business transaction is a term that describes e-commerce transactions between business organizations over a network, for instance, internet, extranets, intranets and other private networks (Ephraim Turban 2006). Business-to-business transactions occur between businesses as opposed to other forms of transactions, that is, business-to-consumer, business-to-government and other transactions. According to the case study, M&S adopted Business-to-Business type of transaction in order to monitor their warehouse and other collaborative electronic commerce initiatives. A report by analyst eMarketer (www.emarketer.com) predicted that by the end of 2004 B2B e-commerce would account for 77 percent of total European e-commerce of nearly 1 trillion. M&S therefore practices B2B transactions in the warehouse management and collaborative commerce EC initiatives.
M&S has prototype of a system that is designed in such a way that it enables management to control and monitor stock that is available in real time basis. The system’s immediate report gives the management an opportunity to diligently re-supplying their inventory and keeping in touch with other sectors such as the logistic service providers who are responsible for warehouse operations and deliveries. The system adopted by M&S clearly improves efficiency in resupplying of stock thus eliminating the traditional brick and mortar business matters or complications such as overstocking and under placement of orders.
The system makes it possible for suppliers to be in good understanding on the demands of their goods per outlet. The monitoring allows better understanding between the suppliers and M&S thus empowering the relationship between the business partners and other global retail outlets. The idea of monitoring the product demands has beard fruits through the introduction of e-commerce initiatives.
Business to consumer...