The Wijaya Group Of Companies was established in 1977 with a limited figure of employees to carry on the concern. It has a history of over 3 decennaries today, and has created employment chances for about 1200 employees. The Chairman of Wijaya Group of Companies, Mr. K.R.G. Wijesundara came out with the initial thought of set uping this company with respect to dress industry 30 year ago. As the proprietor of the company Mr. Wijesundara has faced a batch of challenges in directing the company to accomplish its premier marks due to the continues alterations in the external environmental factors which aroused from the freshly introduced unfastened economic trading policies to Sri Lanka at that clip. The demand factors in the dress industry changed wholly and created many niche markets during this epoch, coercing Mr. Wijesundara to present many schemes and tactics in order to confront these challenges and direct his employees continuously. Due to the right commanding steps adopted, he was able to actuate his employees and carry out a friendly environment within the organisation go forthing a infinite for the employees to finish their single undertakings efficaciously and expeditiously.
The Wijaya Group of Companies was able to spread out its nucleus concern to many new countries in the industry within a really shorter period of clip due to the corporate attempts by the employees of all classs get downing from the top direction to bottom degree. Among its clients The Wijaya Group of Company, is good known as C.I.B Shopping Center today, and it provides many merchandises under individual roof, get downing from imported every bit good as locally manufactured garments to other of import house hold points. The premier mark of this company is to put in new concern ventures and spread out it locally every bit good as internationally, and as a consequence of this the direction shortly came up with the thought of specialising in some sectors and opened up particular mercantile establishments for ‘Sarees ‘ which was named as Wijaya Saree Mandhir. By the terminal of this twelvemonth the Wijaya Group Of Companies, holds 22 subdivisions in Sri Lanaka, and conducts its concern based on a Divisional Structure headed by five separate Regional Directors from parts such as Western Province, Sabaragamuwa Province, North Western Province, North Central Province, and Central Province. This company has presently employed 21 subdivision directors, to direct the activities all around its subdivisions.
THE VISSION AND MISSION OF WIJAYA GROUP OF
THE HIERARCHIAL STRUCTURE OF
WIJAYA GROUP OF COMPANIES
THE PROBMLEM IDENTIFIED
THE ABSENCE OF ONLINE Selling
The Wijaya Group Of Companies presently holds the ownership of 22 mercantile establishments which includes Shopping Centers every bit good as particular mercantile establishments for Sarees and Tailoring. As the direction ever tends to spread out its operations in different sectors, today they are in threshold of presenting its merchandises to the planetary market. The C.I.B shopping centres have a wider assortment of merchandises runing from garments to household points and today it holds a strong part of loyal clients that shop in these centres on a regular basis.
At present the direction of Wijaya Group of Company, is working hard on increasing the client base they are keeping presently, and the most common methods in usage are the assorted selling tactics which varies from Price differences to different Bonus Offers, through such steps the direction has been able to pull clients continuously. But despite all this, our squad was able to place a job which was a major drawback in this company, and that is the ‘Absence of Online Selling ‘
Today we live in a extremely globalized universe, where each in every person and a state is interconnected via Internet and as a consequence of this, selling tactics used by most of the organisations are traveling towards a more web based construction. The selling schemes used by most of these organisations are diverted to run into this new tendency in order to accomplish the competitory advantage over their rivals. Net income maximization is considered as a premier mark in most of the organisations today, and in order to accomplish this it is critical to near a client before the rival, and provide updated information to them. A company can easy accomplish this through ‘online merchandising ‘ , where a complex process like selling can be done by a individual chink on the screen, instead than run intoing different retail merchants, distributers etc.. supplying many advantages to the client every bit good as the company itself.
The Internet is a huge public web of computing machine webs, which connects users of all types all around the universe to each other and to an surprisingly big information depository.
It is been hailed as the new engineering behind the New Economy. It allows anytime, anywhere connexions to information, amusement and communicating. At present many companies use the Internet to construct close relationships with clients, and marketing spouses. Beyond viing in traditional market topographic points, they now have entree to exciting new market infinites. The Internet may assist a concern in the undermentioned methods.
1. Virtual shopfront
Sells physical merchandises straight to consumers or to single concerns.
2. Information agent
Provides merchandise, pricing, and handiness information to persons and concerns and generates gross from advertisement or from directing purchasers to Sellerss.
Example: Edmunds.com, Kbb.com
3. Transaction agent
Saves users money and clip by treating on-line gross revenues minutess, bring forthing a fee each clip a dealing occurs. Besides provides information on rates and footings.
4. Online market place
Provides a digital environment where purchasers and Sellerss can run into, seek for merchandises, show merchandises, and set up monetary values for those merchandises. It could supply on-line auctions or change by reversal auctions where purchasers submit commands to multiple Sellerss to buy at a purchaser specified monetary value every bit good as negotiate to repair pricing.
Example: eBay.com, Priceline.com
5. Contented Supplier
Creates gross by supplying digital content such as digital intelligence, music, exposure, or picture, over the Web. The client may to entree the content. or gross may be generated by selling advertisement infinite.
Example: CNN.com, TheStreet.com
6. Online service supplier
Provide online service for persons and concerns and generates gross from subscription or dealing fees, from advertisement, or from roll uping marketing information from users.
7. Virtual community
Provides online meeting topographic point where people with similar involvements can pass on and happen utile information.
Provides initial point of entry to the Web along with specialised content and other services.
Example: Yahoo.com, MSN.com
Electronic commercialism which is besides known as e-commerce is a signifier of making concern via cyberspace. It can be besides known as the purchasing and merchandising procedures supported by electronic agencies, chiefly the cyberspace. E-commerce includes e-marketing and e-purchasing. Ecommerce benefits both purchasers and Sellerss in many ways such as ; it could be convenient, purchasing can be easy and private, it could supply greater merchandise entree to purchasers, on-line purchasing and merchandising could be more synergistic and immediate, it could be used as a tool for edifice good client relationships, from the Sellerss point it could cut down costs, increase velocity and efficiency, and besides it could be more flexible manner of carry oning concern.
IT Based Solution
Get downing an on-line merchandising operation
Get downing an On-line Selling Operation
The Wijaya Group Of Companies is a medium sized concatenation, which conducts its concern as “ shopping centres ” and “ saree centres ” in five different states in Sri Lanka, and concentrates chiefly in the “ dress sector ” today, by supplying imported every bit good as in house garments to varies degrees of classs. Currently it uses traditional methods in selling operations and has non adopted itself to the latest method of merchandising, which is done through cyberspace.
Get downing an on-line merchandising operation system and acquiring involved in e-commerce would profit the company in many ways with the present twenty-four hours ‘s quickly altering concern universe. Since Wijaya Group of Companies holds 22 mercantile establishments, they could construct up an intranet which is an internal web based on Internet and World Wide Web engineering criterions. All the shopping centres hence could be linked to one another. This system will assist the concatenation to pass on and maintain path of their stocks.
Wijaya Group Of Companies could besides develop an extranet, which is a private intranet that is accessible to authorised foreigners such as providers of the company. Suppliers could pass on with the company via extranet and supply merchandises when needed and each shopping centre may put orders when they reach a re-order degree. This company could hold their ain rental line to maintain connected to their most of import providers.
This company may get down off their online merchandising process by establishing their ain Web site. This web site may include information about the concatenation, their merchandises, and their subdivisions, how to buy a merchandise online, payments, doing orders, look intoing on new merchandises, etcaˆ¦ . They could utilize ‘banner ads ” which are in writing shows on web pages used for advertisement and the streamer should be linked on to the company web site so that the individual snaping on the streamer will be transported to the company web site instantly.
They could develop a portal which is a web site or other service that provides an initial point of entry to the web Pr to internal company informations. This portal could supply its viewing audiences with a directory of information on the cyberspace along with intelligence, telephone directories, maps, shopping and other services. They could besides develop their ain internal portals to supply employees with streamlined entree to corporate information resources.
CostWijaya Group Of companies will be able to sell their merchandises straight to retail clients via cyberspace, by go throughing mediators such as distributers or retail mercantile establishments. The purchase dealing costs could be reduced in great Numberss by extinguishing mediators in the distribution channel ( disintermediation ) . The company could besides reenforce rhenium intermediation by switching the intermediary function in a value concatenation to a new beginning. The benefits of disintermediation to the consumer are illustrated below.
As this processes show, the merchandising operation of the company could be changed into a much simpler procedure if the company adopts the on-line merchandising method, by cut downing the excess duties of retail mercantile establishments and distributers which will assist to cut down the costs.
The company can utilize synergistic characteristics of web pages to keep consumers ‘ attending or to capture elaborate information about their gustatory sensations and involvements. The company web site can be a big beginning of elaborate information about client behaviour, penchants, demands, and purchasing forms and the company can utilize this information to seamster publicities, merchandises, services and pricing.
The web site of the company could besides obtain client information by inquiring visitants to register online and supply information about them. These information along with the consumers old purchases could be recorded in the company web site and the following clip the same consumer logs in, the web page could recognize him/her by his/her name ( ex: Welcome Peter ) and supply the consumer with merchandises similar to the old purchases. This system will actuate the consumer to buy merchandises more frequently from C.I.B shopping centres and will assist construct strong client relationships. Communications and merchandise offerings can be tailored exactly to single clients. Wijaya Group of Companies can make a alone individualized web page which is besides known as web personalization that displays content or ads for merchandises of particular involvement to each user.
Apart from these, they can develop their electronic payment systems and receive payments online, and could make web logs to garner client suggestions, they could even utilize their web site and electronic mail to client inquiries and supply clients with helpful information. The web site may besides hold nexus such as “ push to speak ” for case where visitants could snap on and bespeak for a phone call in instance of any enquiry and the company should hold a call centre connected with this nexus to supply this service.
Stairss TO CRATE AN ONLINE STOREFRONT
Shopping CART PROGRAMME
MERCHANT ACCOUNT ( BANK )
E-COMMERCE WEB SITE
The above image shows the procedure of online merchandising. The process of on-line merchandising statrs with the creative activity of a web site of the company and ends with a dealing which is done via recognition cards.
Get Signed Up with the Best Wholesale Distributors
If a company plans to spread out its operations to online, it is of import to seek for the best sweeping distributers, drop-shippers and subscribe up with them. In this instance it is critical for Wijaya Group Of Companies, to finish this undertaking foremost inorder to run the online merchandising procedure swimmingly.
These sweeping distributers offer the lowest sweeping monetary values around and drop-ship the merchandises straight to the clients location with the name of the concern on the box, so that it will look to your client as if the bundle came from the oraganization itself. This will be a superb construct for Wijaya Group of Companies as it will assist to increase the loyality of clients towards their merchandises.
Construct Up the Online Storefront
Making a web site is the following major measure in this, the company will hold to make and register their ain unique sphere name. ( eg: www.cib-shop.com ) . The company has to take a dependable web hosting supplier every bit good.
After choosing the alone sphere name, it is of import to make and plan a professional and profitable Internet Storefront that will lure visitants to purchase the merchandises on their first visit.
Choose a suited E-commerce Software
It is of import to choose package that suits the demands of the company. Through this Wijaya Group Of Companies will be able to take and process orders.
Recommended Software: Product Cart Software
Choose a suited manner to roll up Payments
A sophisticated payment method is a must in online merchandising. Most of the organisations accept the recognition card system today as it simplifies the dealing to the client every bit good as the company. Wijaya Group of Companies can choose the system as it fits, and some of the methods used by other organisations are: Real clip Credit Card Processing through a figure of supported payment gateways, Offline Credit Card Processing ( eg: A company can utilize their POS if they have retail shops ) , Checks, Purchase order, PayPal, Google Checkout etc..
Cardinal Facts in Online Selling
Choosing the Right Niche
This is a critical factor in on-line merchandising. The merchandises a company plans to sell through online has a greater impact on the concluding value of gross revenues, and this could be merely achieved by choosing the exact niche market. Even after choosing the right niche market if a company fails to present the updated information through working difficult and presenting new characteristics to their site in a day-to-day footing still a company will neglect to run into the marks set by the direction. The Wijaya Group Of Companies will hold to see this affair earnestly, if they want to accomplish competitory advantage over their rivals. They must be in a place to update information of the new merchandises instantly to the site and present it to the clients creatively. In the physical universe, niches are based on geographics, but Geography is about irrelevant on the Internet. So it is of import for Wijaya Group to take a niche little plenty that they can rule and keep it through changeless updates.
High Production Value
In a print catalog, “ production values ” refers to the quality of the paper and printing procedures used, the figure and quality of images, and the attention taken with in writing design. High production values are critically of import in catalogs, which have to convert consumers to purchase based on a few sheets of paper.
Production values are even more of import on the Web. Consumers will non purchase from an inexpert Web site. Most of the people who visit a site will still happen the thought of telling on-line unusual as it requires a figure of particular installations. The direction of this company will hold to concentrate on this affair, because the site created by them needs to animate visitants with assurance. It should state that it is a sort of company that does things right, and that if a client order something from at that place, it will be a good experience for them.
Promoting the Site
Having a great Web site is non plenty. The success of it, relies on how far the site is capable of conveying in people to it. But advancing an online shop is different from advancing an ordinary Web site, because through an online shop a company targets to sell its merchandises. Earlier the lone reply available for advancing a site was through a Search Engine that provides infinite for all sorts of merchandises. But late Internet Hubs like Yahoo! And MSN have created countries merely for shopping, giving more prominence to often requested merchandises. If a company plans to publicize its merchandises and sell those before its rivals, it is of import to do certain that the site created by the company appears in the first topographic point every bit shortly as the client petition
for similar sites. A company can accomplish this by utilizing the key words which relates to the merchandises often, as it creates a greater opportunity for the hunt engines to filtrate it out. So it is of import for the direction of the Wijaya Group of Companies to look in to this fact and make a site which can be easy filtered by the hunt engines. It is of import to utilize these cardinal words ( eg: the word “ apparels ” ) in a natural mode and give out the relevant information to the client, without annoying them by utilizing it repeatedly in each and every sentence and phrase.
Stress the Servicess
Online merchandising is going popular in a slow gait in Sri Lanka, and the figure of utilizations who make usage of this installation keeps on increasing in a day-to-day footing today. As it is in the brink of growing most of the people who visit a shop will still happen the thought of purchasing online a small unusual, so it is of import to reassure these clients. The most powerful assurance builder is a high-grade site: high production values go to work straight on the visitant ‘s subconscious. But it ‘s besides of import to reassure visitants explicitly. It is of import for a company to guarantee the security degree of their site and the minutess done, as it will hold a great impact on the purchasing forms of a client, and if a company is capable of supplying the needed degree of security, they have to foreground it and advert it to the client clearly, and this can be considered as an accenting of a service provided by the company.
Advantages and Disadvantages in Online merchandising
Online shopping promenades give an immediate online presence.
Sector-specific promenades can supply an effectual path to your mark market.
They ‘re easy to put up for people with moderate IT skills.
You do n’t necessitate to travel through the procedure of puting up anA InternetA merchandiser history.
You frequently acquire aid and support in acquiring your shop operational.
Updating your endorsers can be done about immediately through electronic mail. Visitors to your web site can acquire up to the minute information on each visit. If you are holding a sale, your clients can get down shopping at the discounted monetary values literally every bit shortly as they open their electronic mail.
The cost of distributing your message is following to nil. E-mailing your subscription base is more frequently cheaper than directing a missive through the mail.
The on-line merchandising operation would decidedly profit the company in many ways when comparing with the traditional method which is followed at present. But presenting the new engineering to the company may be really dearly-won from the company ‘s point of position in footings of equipment, staff, edifices, care cost, etcaˆ¦ . It may be really hazardous and the consequences would be unpredictable.
Traveling on-line and selling online will necessitate more professional and proficient staff and since the system will extinguish paper work, a great figure of employees will hold to be terminated from their occupations.
Incase the system fails the company will hold to confront the chance of losing its bing clients.
Online merchandising operations require a particular on-line payment strategy. These Payment Schemes have a greater hazard of acquiring hacked, so the clients will be loath to give their recognition card information and avoid this method of on-line merchandising.
There is a batch of competition for the merchandises introduced by an organisation. By the clip your client finds you, they have tried out other links. Unless they can happen what they are looking for rapidly, they are gone.
The Wijaya Group of Companies should non straight halt carry oning its concern in the traditional method alternatively they should pattern a parallel scheme where both the systems should be conducted.
The company should follow its web site harmonizing to the altering environment and non merely lodge to the rudimentss of a web site ( antique: add more links )
The company could develop a corporate intranet for the cardinal sections in the concern. ( ex: Finance and accounting, Human resources, Manufacturing and production, Gross saless and selling )
In order to pull the clients it is of import to update the information available often.