the merits of eBusiness, business and finance homework help
A friend of yours from high school, Marissa, joined her family business just over a year ago. The family runs a used book and music store that is known for finding and stocking original hard to find publications. Marissa’s parents have been in the industry for over 40 years and have a wide network of resources all over the world. Marissa quickly realized the store looked old and worn. She wanted to modernize its look and re-brand the business. Her first change was to create an Internet Café within the store. This was an immediate success. Book and music sales increased by 20% on top of the café revenues. Within a few months of implementing the café, the bookstore was becoming the in place and customers would often refer to meeting at “Marissa’s”. Alicia and Bali, Marissa’s parents, told Marissa they were confident she not only could run the business on her own but also could take it to the next level of growth, sales, and profits. One year after her parents retired, the family business, now called Marissa’s Stories and Sounds Café Lounge, has become extremely popular. Marissa is ready to take the business to the next level. An obvious strategy would be to replicate the current location in another similar location. However, Marissa feels there is more opportunity for a virtual meeting place where people can gather online to talk about books and music. She contacts you for advice. She wants you to provide her with ideas for creating an online presence and eBusiness for her company. Provide a response to Marissa identifying:
1. how her business can be profitable online – what would she sell
2. an overview of the eBusiness specifications of her website
3. the merits of eBusiness
4. the pitfalls of eBusiness to be wary of
You do not have to go into great detail. Provide an overview so that Marissa has an idea of what “Marissa’s” virtual presence would be like.