Accounting assignment help essay: Advantages of Appropriate Revenue Model for the business
A revenue model explains how a company gets compensated for each business pattern. Compensation is known as revenue model, but can also be refer as payment. Every business has the right to create the revenue model for its business patterns. There are different revenue streams of the revenue model, and only one stream is offered to each business pattern. Every business has the revenue model that is planned for earning solid business. There are different advantages of revue model for the business; firstly, it helps the business in gaining competitive advantage that provides competitive edge over the other companies in the industry. That helps the company in getting unique reputation in the marketplace (Ingram 2012).
Through revenue model, a company can plan for the growth, and rely on the debt financing for expanding the business. Revenue model also supports in bringing profits in the organisation that helps in building cash revenue, which can be used for the purpose of investment. The largest advantage, which a business achieves, is the contribution, which is made by the company in the sustainability of the organisation. Each year number of business fails due to the failed revenue model; therefore, it is important that business should formulate an appropriate business model for bringing profits each month (Ingram 2012).
Technology infrastructure required to set up a robust scalable web site
Web service technologies are changing the software industry by making the role of enterprise IT organisation more strategic. Web technology is the platform on which companies implement a solution by using the new technology that leads to the success on investment. Web design covers various skills and disciplines, which are used in the production and maintenance of the website (Technologies Used For Website Design 2012). There are different areas in the web design that includes, interface design, web graphic design, and authoring that includes, proprietary software and standardised code. It also includes search engine optimisation and user experience design. There are different tools and technologies used by the web designers, which are updated through new standards and software.
Designer’s uses use vector and raster graphics packages for creating the web formatted imagery and design prototypes. Technologies required in creating the robust website includes standardised mark up that could be easily hand coded or it can be generated through the use of WYSIWYG editing software. Search engine optimisation tool is used by the designers to check the search engine ranking on the internet and even suggest improvements for the website. Many companies use Hyper Text Markup Language (HTML) that helps in creating the web pages (Technologies Used For Website Design 2012).
Photoshop is also used, which is a software used for the purpose of image editing. This tool provides tools for manipulating the images on the website. Many business organisation uses many other software tools for creating website which are Flash, AJAX, CSS, Java Script, these tools are used for creating interactive webpage’s, provide better level of interactivity and customisation, creates uniformity across the entire website, and provide certain user interface controls respectively (Chatterjee and Webber 2004).
Benefits and challenges of a suitable marketing and promotion strategy
The marketing strategies are formulated within an organisation for providing profitable satisfaction to the requirements of the customers that supports the firms in achieving success and high growth in the moderate competitive markets. In order to compete in the market it is important that well developed marketing strategies should be formulated. It is also crucial that delicate balance should be made between the pricing and promotion within an aim to make profits without sacrificing the brand equity (Create your marketing strategy 2012).
Through marketing and promotion strategy, business can easily increase its share in the existing markets that helps the company in achieving customer awareness about the products and services. Through these strategies, a firm can easily improve the existing products and services and can even develop the new ones. Through promotional strategies business can increase the usage of its services, increase the value in the organisation, and change the perception of the customers. Through promotion, a company can easily describe its services that require publicity. It can also target the audiences at which publicity is undertaken.
Through marketing and promotional activities, a company can ensure success of its business. While building strategies for marketing and promotion of products and services, many companies face challenges that occur at different steps of marketing events. Challenges occur while communicating business with the laser precision (Create your marketing strategy 2012). Problems also occur while establishing brand identity before the launch of marketing activities. Companies often face the challenge of creating positive image among the customers that has negative attitude towards the business. While promoting the product in the global market, company often faces the language barrier that hinders the customers from seeking assistance from the firm. Every company has to communicate with its customers, because through that they can conduct business activities with each other. Language is the major hindrance, because it often happens that companies fail to understand the requirements of the customers and fails to fulfill those requirements. Challenges also occur in building good relationship. It is important to deliver good and quality services to the customers, for that it is important to assist the customers, and there knowledge and even assist their actions.
In order to formulate the workable marketing plan for the customers it is important that everything about the product and service should be visible, desirable and even more profitable. It is important that strategies adopted for promotion of products and services should save the money through cutting the unnecessary expenses and even presents the marketing opportunities for the firm (Create your marketing strategy 2012).
Major hardware and software suitable for constructing website
While constructing website hardware and software tools plays significant role, because through relevant hardware and software tools, a good and appealing website could be constructed. For designing the website, a large hard disk and Random Access Memory, high processing speed and large storage capacity should be enable, so that large video files could be uploaded and downloaded by the users. Another thing which is required is the server that hosts the website. Hardware and software servers are important for web hosting. Relevant software such as, Dreamweaver and Microsoft Front page is required, before any further progress is made in the construction of the website (Hardware and Software tools you need for web design 2011).
As the internet is full of uncertainties, use to the external threat; therefore, for mitigating these threats it is important that good antivirus or software should be used that prevents the website from the external threat and at the same time it could also make backup of the website from time to time. Security software’s are used, as they could be overwhelmed through the threats by making the entire site crash. Email could also be used for creating backup of the website either manually or automatically. As the technology is rapidly improving and the websites could be easily accessed from different devices, example, PDAs, mobile devices, and smart phones. As the trend is embraced by many people; therefore it is important to optimise the website that could be accessed from the other devices.
It is important that mobile web design and editing software should be used for editing and modifying the website from different locations. Importance of mobile web design could be overemphasised, because users require editing the site from different places. Database is also required for putting the large bulk of data over the website. For creating the database certain software’s are used, such as, advanced SQL. For hosting the videos on the website, it is important that video camera should be there.
Legal and ethics issues that might arose in the development of website
Application of good ethical standards in the online world is the direct reflection of the online business. Ethics impacts every aspects of the business. It also affects the first and foremost brand image of the business and even impacts the sales, marketing, and advertising standards that are task for making the company profitable in the long run. Ethics also affects the employees and represents the company online with all the customers and clients and helps in making relations while dealing with potential customers in B2B and B2C that covers majority of the business in the world. There are different issues related with the e-business (Internet Marketing Ethics and Web Ethical Issues 2012).
Coping and maintaining client’s website it is important that issues of consumer privacy and legal matters should be considered. Writing online and copywriting for clients reflects how the clients’ brand is viewed by others. Negatively published articles by various people and companies on different websites, blogs and forums can possibly face legal consequences that can be stretch across the countries. If the web master performs any unethical search optimisation on the website of the client, then that can result into the lasting negative consequences for the client that cannot be repaired (Internet Marketing Ethics and Web Ethical Issues 2012).
Advantages and challenges of taking this business online
An online presence of the business is one of the powerful marketing and communication tools, which is an incredible source of cost efficiency. Online business is also an environmentally friendly way of working and is also said as the sign of professionalism and pretty requirement of today’s organisation. In present time, customers and clients want to check website address and email of the business cards and promotional materials. There are many benefits associated with online business, as it is one of the most popular means of doing business in the present time (Benefits of Going Online 2012).
Online business is powerful, fast, and efficient tool for conducting marketing and communication activities. It only takes minimum investment to start an online business. Search engine optimised website pay off very quickly as long they gives valuable products and services to the customers. Online business is the most environmentally friendly way of doing the business. A company can easily test its sales strategies and offerings without using paper or wasting it, and can even put invoices, catalogs, newsletters online and can easily save numerous trees. Online business is also very inexpensive way of reaching to the new market and interacts with them (Benefits of Going Online 2012). Through online business transportation and office could be easily saved. Online business has global presence 24/7 and depicts the sign of professionalism. In online business there are unlimited possibilities for automation of the business. One can easily automate the order and payment process, manage the inventory, and can easily get the customer support. Online business also provides the freedom to live and work from where they like. One can also travel while running their online business and can even run multiple businesses simultaneously.
Internet business also has to face many challenges, because there are many low barriers of entry that means that it is easy for anyone to set up there own website and compete with others. Online business model can be very easily copied by others, example, Youtube and many copies of their website exist on the internet. Online business also take a bit of time to train itself, example, if someone want to start their sandwich shop, they can start very easily, but if any one want to start online business it requires lot of knowledge and skills. In online business lot of time is spend in dealing with the spam emails and sales people calling from the sales directory.
Recommendations for the site
It is recommended that for building good and attractive website it is important that organisations should formulate the marketing plan that should include all the strategies related with planning and promotion of the products and services. It si also important that companies should prepare their own website that should include all the details of the company along with the information of the products that could add on to the benefits of attracting customers and conducting online business activities.
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