MARKETING STRATEGY FOR AN E-BUSINESS
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MARKETING STRATEGY FOR AN E-BUSINESS
ABSTRACT
The goal of this thesis is to identify the best entrance points for small and medium-sized enterprises (SMEs) joining the online market in Kenya. According to recent data from the Kenyan market
a large number of businesses are failing to accomplish their objectives if they continue to operate in their old manner in the face of competition, and clients or consumers are increasingly going online as a result of internet penetration in this economy.
Despite the emergence of the internet, there is still a lack of understanding about e-business market tactics that would allow potential enterprises to do business in Kenya. This study aims to explain B-to-B online business in Kenya and identify entry methods for SMEs to pursue.
Given the importance of B-to-C as a target market for many e-businesses, this study took a detailed look at this segment.
The qualitative research approach was used in this study, which involved sending online questionnaires with questions to existing businesses in the Kenyan market.
This study also used a scientific approach to increase the authenticity and credibility of data sources. The results suggest that there is an increase in e-business activity in the Kenyan market, and businesses have had to combine conventional ways of doing business with modern internet-supported approaches.
The study intends to fill a knowledge vacuum by making recommendations for future use by SMEs considering internet commerce in the Kenyan market. In contrast to the theoretical section, target strategies will be explored in the context of real-world e-business practices.
Introduction
E-business is an online retail market; the globe has become a global village, with companies conducted online as new technologies evolve. Companies are achieving fewer of their aim objectives due to restricted resources, the introduction of surplus, and chances available online, which is why internationalisation has been introduced into the market.
According to several empirical investigations, e-business is becoming an increasingly important actor in a modern business model. It has been discovered that a number of firms perceive opportunities in this changing environment
and they have either decided to conduct business online with the ultimate goal of accomplishing their objectives, or they have integrated e-business into their strategy.
The market’s landscape has altered over the years as a result of competition and the growth of new technologies, as well as evolving marketing tactics that have been applied to fulfil the needs of current customers and consumers in all industries.
Traditionally, market rivals focused on product quality and customer loyalty; however, the fundamental idea is to satisfy clients in the way they choose to be supplied, employing direct ways.
Customers, for example, have their own demands and goals; the question is how to reach them and meet their needs in the most realistic and convenient way possible.
Marketing strategies have been established to serve as a road map, beginning with the identification of the market and their demands, followed by when to get there – how to get there, and what to do once there.
A huge number of organisations appear to use similar strategies at first, but we have discovered that strategic plans must be made explicit in relation to market objectives and aims as time and demand change.
This critical component has been the missing link between organisations and customers, impeding the marketing process. As a result, the future focus for marketing strategy is the essential idea for all businesses;
comprehension of customer buying behaviour online and strategic imagination of delivering goods/services in a satisfactory manner, which might potentially lead to positive results.
1.1 Background requirements for research
The basis for this thesis is to identify marketing techniques for small and medium-sized businesses looking to expand into e-commerce in the Kenyan market. Kenya is one example of a developing economy with several opportunities for e-commerce enterprises and other investors.
It is a terrific idea for e-companies to capitalise on available chances in the Kenyan economy. Today’s market competition is so fierce that enterprises are focused on the bottom line; as a result, new inventive ideas are implemented on a daily basis, leaving no room for traditional methods of doing business.
Companies are no longer reaching their strategic objectives if they continue to do business in traditional methods, prompting them to take advantage of the gaps that exist online.
The research problems for this thesis, however, are to locate and identify strategic solutions that SMEs can employ while joining and conducting business in the Kenyan market.
Evaluating new technologies has become increasingly important in the sphere of e-business; for example, online enterprises and their consumers use the internet for communication, sales, and advertising.
With the increasing demand and number of users, there are high expectations for the future of e-business. The conventional style of doing business is no longer incredible; instead, the current generation appears to be digitalized, with all business activities taking place primarily online.
The usage of available information in the Kenyan market will serve as proof to corporations intending to engage in the Kenyan economy. Online business is viewed as the only chance for small and medium-sized businesses due to lower transaction costs, lower labour costs, reduced physical transportation, and better access to international markets.
1.2 The Research Problem
The purpose of this thesis is to identify marketing tactics that satisfy SMEs when performing e-business in the Kenyan market. The study section will provide comprehensive information on modes of entry and e-models for use by small and medium-sized businesses when entering and conducting business in an online marketplace.
The study will concentrate not only on the existing e-business potential in the Kenyan market, but also on the key entry points that are crucial to propelling business ahead while also meeting customer expectations. It has been demonstrated that corporations neglect to consider the various requirements that may apply when starting an e-business.
The research will be based on this comparison of existing e-businesses and potential. While this research is being conducted to capitalise on existing e-business prospects in the market
there will be questions about why e-business entry modes are significant, particularly when entering a rising market with a large population that uses new technologies as an effective way of doing business.
Indeed, small and medium-sized businesses are prepared to enter the e-business market since there are significant potential in the domestic market and globally in the future, with Kenya serving as a single example of a fast-growing economy outside of the African market and Bangladesh.
The major study topic is:
(i) What are the marketing techniques for an e-business entering the Kenyan market?
(i) Which route of entry is best suited for e-commerce enterprises entering the Kenyan market?
(ii) Which e-model works best in the Kenyan market?
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