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CHAPTER ONE
INTRODUCTION
1.1 INSIGHT TO ONLINE MARKETPLACE
Online
Market, commonly known as e-commerce or eCommerce, or e-business consists of
the buying and selling of products or services over electronic systems such as
the Internet and other computer networks. The amount of trade conducted
electronically has grown extraordinarily with widespread Internet usage. The
use of commerce is conducted in this way, spurring and drawing on innovations
in electronic funds transfer, supply chain management, Internet marketing,
online transaction processing, electronic data interchange (EDI), inventory
management systems, and automated data collection systems. Modern electronic
commerce typically uses the World Wide Web at least at some point in the
transaction's lifecycle, although it can encompass a wider range of technologies
such as e-mail as well.
A
large percentage of electronic commerce is conducted entirely electronically
for virtual items such as access to premium content on a website, but most
electronic commerce involves the transportation of physical items in some way.
Online retailers are sometimes known as e-tailers and online retail is
sometimes known as e-tail.
Almost all big retailers have electronic commerce presence on the World Wide
Web.
1.2 HISTORICAL
OVERVIEW OF ONLINE MARKETPLACE
Over
the past decade, there has been an extreme jump in internet sales. For example,
in 2006, from November 1st to December 26th online shopping soared to
$23.1 billion dollars, increasing by 26% from the previous year. Creating a
competitive battle with retail stores, online shopping presents a more
convenient method of shopping without the lines and the crowds, however, buying
online takes away from the social aspect of shopping. Having recognized the
lack of social appeal that e-commerce presents, new navigating tools to ease
decision- making are being implemented as a result, people are becoming more
comfortable with shopping online. As the pressure from online shopping sites
increases, retailers have to focus on better marketing strategies to promote
products and influence customers to shop in their stores instead of online. In
fact, many retailers are now making their products available
online. Thus, a new influx of “click and mortar” retailers are
surfacing. The “click and mortar” retailers that provide online shoppers with
easy to use features are increasing their online profits and becoming strict
competitors to the top online-only companies (ie Amazon and Netflix.
1.3 STATEMENT
OF PROBLEM
In
human endeavor, there is a lot of development which helps to maximize
production, income and operation of businesses at Ogbete main
market. These have brought increase in complexity of marketing system like
B2B (Business to Business) and B2C (Business to Consumers) and its operations.
Based
on these, a number of problems are facing the Ogbete main market system which
include
a) Day-to-Day
pressures of selling
b) Coping
with customers
c) Solving
basic business problems
d) Competitions
(a new player enters, market conditions changes, sales drops, the company
introduces a new products or services).
e) Most
of the leads came from the sales staff.
f) Unable
to recognize previously visited customers
g) Availability
of market (sales and services) to the whole parts of Nigeria
h) Unstable
fixed price
1.4 OBJECTIVE
OF THE STUDY
The
aim of this study is to design and implement a database driven online virtual
marketplace with a particular reference to Ogbete main market. The web based
program developed in this research essentially provides all the necessary
marketing services and operations done at Ogbete main market which will help
increase their operations based on sales and services.
These
operations include general sales and marketing management.
In
this study therefore, the researchers hope to accomplish the following
objective:
a) To
design a better pricing mechanism in the market
b) To
solve the problem of geographical location
c) To
maximize sales
d) To
help improve customer relationship
e) Increases
social interaction activities
f) Reduces
pressures mounted on sellers
g) Increases
management of stock items
h) Easy
shopping
i) Introduces
bidding system
j) Accommodates
more marketers
k) To
improve quality delivery system
1.5 SIGNIFICANCES
OF THE STUDY
Buying
and selling is very important to our everyday life, its very important that we
humans have to market what we have like goods and services to other people that
needs it, also purchase what we are lacking. Marketing is highly regarded
everywhere in the whole parts of the world. The following are some significance
of this study:
A. The
secured site for electronic commerce will help the populace people of Nigeria
to get rid of risk in carrying cash around and the convenience of shopping
anytime of the day.
B. It
will reduce the risk of transportation, since the customer does not have to
travel far to shop for any items or goods.
C. It
will reduce the risk of authentication of the product and improved business
transaction as customers are now sure of the originality of the product they
purchased.
1.6 SCOPE
OF THE STUDY
This
project looks into the processes involved in marketing of goods and services in
the marketplace. The researchers concentrated on the operation going
on the general marketing activities like sales, management of stocks, pricing
and registering of customers, security and policy guiding sales.
1.7 LIMITATION
OF THE STUDY
Some
of the constraints that my have in one-way or another affected the outcome of
this work include:
a) Resources: Due to the complex and insecurity
associated with human factors during this research work, personnel who are used
to the manual system perhaps for fear of losing their jobs have been reserved
in relinquishing all necessary information to make this project an enticingly
extensive one.
b) Time: Due to time allowed for this project
work, as a student was limited to come up with a reasonable work within the
stipulated time.
Power: Availability of stable, efficient and
reliable power supply was also a major limitation of this project as it had to
be suspended several times during design and testing stages
TOPIC: DESIGN AND IMPLEMENT A DATABASE DRIVEN ONLINE VIRTUAL MARKETPLACE
Chapters: 1 - 5
Delivery: Email
Delivery: Email
Number of Pages: 63
Price: 3000 NGN
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