ENTREPRENEURSHIP . Lecture No: 21 Resource Person: Malik Jawad Saboor Assistant Professor Department of Management Sciences COMSATS Institute of Information Technology Islamabad. Previous Lecture Review.
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Lecture No: 21
Department of Management Sciences
COMSATS Institute of Information Technology
Myth 1: Setting up a business on the Web is easy and inexpensive.
Setting up a Web site is only the first investment:
Lesson: Focus on your company’s core competencies and outsource all other aspects of doing business online.
Myth 2: If I launch a site, customers will flock to it.
Myth 3: Making money on the Web is easy.
Study: Web retailers invest 65 percent of revenue in marketing and advertising, compared to just 4 percent for their off-line counterparts.
Myth 4: Privacy is not an important issue on the Web.
Myth 5: The most important part of any e-commerce effort is technology.
Myth 6: Strategy? I don’t need a strategy to sell on the Web! Just give me a Web site and the rest will take care of itself.
Myth 7: On the Web, customer service is not as important as it is in a traditional retail store.
Myth 8: Flash makes a Web site better.
Lesson: Simplicity rules!
Myth 9: It’s what’s up front that counts.
Myth 10: E-commerce will cause brick-and-mortar retail stores to disappear.
Myth 11: The greatest opportunity for e-commerce lies in the retail sector.
Myth 12: It’s too late to get on the Web.