The paper "Business Strategy to Promote Online Products - Selfie Stick " is a perfect example of a business case study. Advanced information technology (IT) has resulted in the flooding of the online market by businesses around the world. As opposed to the domestic non-online market, the online market is characterized by a number of forces making it challenging for a business to make a success out of it. In most cases, the online market is characterized by consumer behaviors and characteristics, as these are the key determinants of marketing online. Due to the stiff competition existing in the online market, it is imperative that online business practitioners understand the behavioral characteristics of targeted consumers and the influence of the competitors on general online marketing (Constantinides, 111).
Therefore, it can be argued that online business entails determination and analysis of buying behavior and using it to make and implement marketing decisions that are aimed at building and promoting trust or confidence of consumers towards the seller. To penetrate the online market and thrive, it requires strategies that combine market functionality combination.
The online seller has to practice a strategic mix of behavioral elements such as emotions of the target market, cues, among other influences. Understanding such will enable the seller to approach the buyer using marketing information, persuasive enough and able to win the buyer’ s trust and confidence towards the product and the seller as well. However, consumers’ behavior can also be influenced by other factors outside the above mentioned. The availability of substitute products in the market offered by competitors also offers a great influence on how consumers will behave in his/her buying process.
Market structure is always determined by the type of product offered by a business firm, and the availability of competition from other firms with related products (Lynn, 3). These have been some of the key price determinants in the market. So, it is also important that online business entrepreneurs understand and put into consideration the type of market structure his/her business operates under.
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