Forum Week 5: Introduction to Digital Entrepreneurship

Describe 2 advantages of doing digital business.

In my opinion, the advantages of doing digital business is it more efficiency and productivity.
This is because, digital business can allow us to make better decisions and our work can
make easier. For example, we can take our business to a wider audience and at the same time
we can produce high quality digital content and communicating with our customer base
through zoom, skype and so on. The second advantage of doing digital business is it can
encourage innovation. This is because, when we use digital business, we possible to explore
or aware new trend and new technology. Other than that, we can also help foster innovation
among the team members.
Briefly explain 3 types of Online Business Model: Retail, Dropship, Affiliate
Firstly, is retail. Retail is the activity of selling goods or services directly to consumers or
end-users. The consumers do not then sell on what they bought. In other words, the buyer
does not resell. The buyer, in the retail sector, is the end of the line of the product. Put
simply; the purchaser is the ultimate consumer. Secondly, is dropship. Dropship is a retail
fulfillment method where a store doesn’t keep the products it sells in stock and we just get
orders and mark up the price to get profit. When the customer orders a product, we just pass
the order to a supplier and the supplier ships it to the customer. We get the profit depend on
how much we sell the product. We are responsible for customer support which is get
feedback and question from customer. Thirdly, Affiliate marketing is the process by which an
affiliate earns a commission for marketing another person’s or company’s products. There are
more advantages in affiliate business which is great way to earn passive income. We will
have to figure out how to market your affiliate products, but otherwise, it doesn’t require full-
time activity from your side. In fact, most people are earning a huge passive income just by
affiliate marketing. One of the most prominent ones in Malaysia is My Smart Shopper.
Briefly explain 3 basic elements to be mastered before executing online marketing:
Products knowledge, prospect’s problem and target market. 
Firstly, product knowledge is information about the characteristics, functional features and
how use of the product. Next, we must knowledge about the product to improve our
communication when we talk to customer. For example, we must various techniques to
communicate the product or brand message to the customers because it can boost our sales
and better service. Secondly, is prospect’s problem. Prospect problem is question is posed
form existing customers because sometimes they want improving from the product that we
sell. So, we must make sure all the feedback and problem can be handle and managed wisely.
Prospect problem is important because they are a great resource for discovering about our
product characteristics. Thirdly, target market is refers to a group of potential customers to
whom a company wants to sell its products and services. This group also includes specific
customers to whom a company directs its marketing efforts. A target market is one part of the
total market for a good or service. Next, target markets are generally categorized by age,
location, income, and lifestyle. Target market is allows a company to home in on specific
market factors to reach and connect with customers through sales and marketing efforts.