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M Commrce

In: Computers and Technology

Submitted By tallat
Words 1070
Pages 5
Mobile Commerce
History of mobile commerce predicts that it was born in 1997 when in Finland first two mobile phones enabled coca cola vending machines were installed. SMS texts were used by consumers pay to the vending machines. First mobile based banking service was also launched in Finland using sms in 1997. Mobile phones have played crucial role in gluing together social interaction and relationships.
Business environment is evolving briskly and businesses are striving to discover new ways to build strong customer relationships. Technology has enabled two-way conversation between brand owners and clients real. Acknowledging the value of collaborating business, entrepreneurs are moving towards horizontal integration by joining hands with their competitors and sharing information about supply chain and consumer behavior. Advancement in technology has provided competitive edge to larger and complex as well as small businesses. Customers react and respond positively to those businesses which make an extra effort to understand their needs and provide excellent service to their customers. Mobile technology has enabled businesses to become more service oriented and tailor their customer needs in a better way. Worldwide-web and mobiles phones have allowed people to be more connected than ever. The relationships between businesses and consumers have become more personalized through mobile phones. Services and applications which add value to brands and physical products are already part of mobile phones. The future picture of mobile commerce depend upon the creation of transparent and open infrastructure trusted by both businesses and consumers which would enable fast adoption of technology and reducing cost. The interoperability of applications between all the technological components has enabled innovation and low initial investment for businesses.
The term mobile commerce means purchase and sale of products and services using mobile phones and it has enabled access to businesses anytime and anywhere. Sometimes tablets are also mixed with mobile phones but they are more parallel to laptops. (Swan)Statistics show that 80% of tablet users mostly use their devices at home while true mobile devices can be transported and carried wherever we go. Sites optimized for mobiles devices or m-commerce sites are not properly translated onto tablets. Advertisers or businesses prefer to use standard e-commerce sites for tablets rather than m-commerce sites. A website fully optimized for mobile phones help advertisers to overcome the hurdles and problems associated with transactions through m-commerce sites.
Mobile commerce has introduced innovative business models. Retailers and manufacturers are trying to avail the opportunities of mobile phones. Mobile network operators are struggling to integrate mobile commerce with existing methods of revenue generation. Mobile phone manufacturers are also striving to provide devices which suit the demands of market but also lead the market to new dimensions with open design and new applications.
The feature of mobile phone as ubiquitous has been made possible with the embedment local interacting technologies like arrangements of cameras and image recognition soft wares and the tamperproof chip card for adding the element of security.
Applications provided by mobile commerce to consumers include variety of services which has deepened the relationships between consumers and businesses. Advertising and promotional messages are sent directly to mobile phones. Ability to display store location on mobiles by showing a map where consumers can purchase required products. Comparison shopping feature of mobile phones provided them access to product characteristics and prices of similar products. Information and Extended Packaging provides additional information about products to consumers through mobile phones. Data rich products, self-scanning, authentication, payment ticketing, coupons, loyalty schemes, loyalty cards, recall facility, interactive TV, interactive publications, catalogue shopping, trial of digital/non-digital media, personal safety and text to voice are the services mobile phones are offering to consumers.
There has been seen a significant growth in mobile commerce in recent months and this trend is expecting to continue. Search on mobiles phones has also shown substantial growth over the past years. In June 2010, Efficient Frontier research highlighted that mobile search is 0.34% of total search in 2010. Traditionally mobile display has been dominated by entertainment and media now traditional advertisers like finance, telecom and consumer goods are availing the opportunities that mobile phones offers. Advertisers’ state that mobile marketing is about location, they are able to use location based targeting to approach those customers who have showed inclination to be targeted by relevant ads. It is the blessing of internet which has enabled to create value not just by goods but also by the exchange of goods. Quick response codes have gained their appreciation and popularity worldwide. When mobile phones start to use QR codes built in then their mainstream use will increase.
Two most important benefits of leveraging mobile to increase m-Commerce sales are increasing speed and cost effectiveness. M-commerce is considered as future digital trade network. It has played vital role in the acceptance of next generation mobile payment tools. To ensure continuous growth in m-commerce executives and service providers have to emphasize on both qualitative and quantitative trends to support standardization, market growth, sanctuary and effortlessness of technology. M-Commerce makes sure that mobile customers enjoy a pronounced experience with controlled, hasty and easy practice to complete a purchase. The layout for category and product pages are designed in such a sparkling and systematized fashion which facilitate users to quickly find the required product and pay operating the application’s one-page checkout.
The GS1 System, supply chain standards are most widely used throughout the world. GS1 has been recognized as supply chain to bring partners together to team up on business standards which will enrich business processes and benefit all parties. Volunteer role of GS1 in refining existing standards used in supply chain for exchanging information about goods and business transactions is very critical.
Development trend is progressing from PC internet to mobile internet. More organizations are gaining competitive edge utilizing m-commerce business model. Businesses who are not availing the opportunities provided by mobile commerce, now is the time to develop their strategies for m-commerce and exploit the whole market at low cost. M-commerce has dampened the cost of businesses that do not require brick and mortar store fronts. Mobile commerce new space for customers and entrepreneurs, exploring this new sector of businesses will help businesses to grow commendably. M-commerce is considered as future of online shopping and smart consumers enjoy the choices of products in the palm of their hands.

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