M-commerce means selling and purchasing products or online providing the services. In order for companies and organization that to be successful in M-commerce they need more evaluate innovative new strategies. They required new business models to deliver better services to customers. According to M-commerce companies focus of logical architecture for products. Customers can buy products and get information about these products.
According to the fast growth of M-commerce it may be large companies get benefits up to $31 billion after five Years. Most of the E-commerce sites like (Amazon) have limited success in E-commerce. However, one thing they all have common is that M-commerce is the important way to enhance their brands, increase their sales and products, and provide better services. In short the key feature of M-commerce is brighter than E-commerce.
Business models issue by M-commerce
There are a lot of issues in business models. There are some common issues are
- Small screen
- Limited resources
- High speed internet
- Limited storage device
These issues are being common, but the major issue for companies is a wireless communication between customers and vendors. The major task for business is how to provide services. For the business perception the word CRM (customer relationship management) allows for the business to manage their customer and vendors organization.
For M-commerce need high speed internet connectivity, 3G, 4G, and 4G LTE. Otherwise, it’s hectic for user to entire the product service. No doubt M-commerce is need some specific area like Bank Transaction, Balance check, Check account information, etc. not some time its face any issue. Like connectivity problems, limited resources, etc. Each business has its own risk. Same M-commerce is the growing field and a lot of investment in this field becomes risky. Because technology is being developed day by day. Moreover, there are less secure in the wireless network, so in data transfer hacking chances are more.
Advantages of M-commerce in business models
We all know about the E-commerce, which means buying and purchase products online, find information and communicate with companies. There are some advantages of M-commerce
- Time Saving
- Cover Long Distance
- Better customer deals
- Easy to use
- Access anytime, anywhere
There are some new key feature of M-commerce that help for customers and provide services.
Attracts new customers
67% customers are using online shopping by using M-commerce and 61% customers can give prefer to buy products by E-commerce.
In figure 1.3 also show that 88% customers use a laptop, 46% customer use smart phone and 21% customer use tablets
Create new marketing channel
- The new advantage of M-commerce is that you create a new marketing channel
Help with traditional sites
- You can use shopping website usage on the desktop as well as on your smart phone
- Fastest rising of M-commerce marketers can help customer on 24/7 hour