GO-TO MARKET OPERATIONS AND EXECUTION

These days, social media such as YouTube, FaceBook and Instagram are not foreign to us. Social media can be helpful to us especially when we are about to buy something for the first time as it provides a platform where previous buyers could voice out their experiences or reviews of the purchased products. According to Nielsen (2007), the existence of social media not just allowing companies to promote their business to the society at large at such a low cost, but also aids in creating trust with the audience since there is a lack of trust among customers in most forms of advertisements. This consequently drive business companies to focus more on social media since it is gradually taking control of the brand reputation of companies (Kaplan & Haenlein, 2010). 

Social media platforms offer opportunities to build value-added content for customers and to monitor negative customer sentiment. On the other hand, there may also be potential harms where companies may be encountering enraged customers who are believed to be value destroyers instead of value creators (Verhoef, Beckers & van Doorn, 2013; Verhoef, Reinartz & Krafft, 2010). Hence, companies are striving on dealing with the social environment as it is with the traditional way companies pursued marketing. According to Verhoef et al. (2013), the effort of interacting with customers through social media may be exposing companies to a weaker control. Companies may be at worrying state as the risks of a lack of control is a lot larger especially for strong brands in particular. For example, there is a risk of customers who use the opportunities to tarnish the companies’ established brand value. Henceforth, companies should be extremely cautious in managing the activities pursued.  

There are a few ways implemented by firms to manage brand health with social media. Firstly, about 49% of the firms created value-added content or services for customers on social media platforms and forums. Furthermore, 44% of the firms supervised brand mentions and sentiments in social media forums and addressing negative messages directly. Next, around 25% of the studied firms recognized influential discussion forums and joining in discussions about the brand while the other 22% of the firms reached out to key online opinion leaders to serve as brand advocates. Finally, an amount of 14% hired a third-party service provider to manage brand interactions in social media and other online forums (Leeflang et al., 2013).

GOODS ARE FAULTY? WARRANTY!

Although e-commerce is still developing and maturing rapidly in Malaysia, there are a few areas that need to be focused on in dealing with consumer protection. Other than being scammed by unethical sellers, online buyers are actively expressing their concerns regarding the warranty of their purchased goods. In general, any user guides are attached to the products being sold and return or exchange policies are often posted on the merchant’s website. Consumers are advised to register with them and store any proof of payment be it receipt or bill with them should any events occur. 

 Nevertheless, the warrant claim process could be tiring for buyers as it took quite some time to settle, which could lead for months. On the contrary, from a study carried out by Mukhtar et al., (2016) stated that half of the consumers mentioned that the process of claiming warranty for a product bought online usually required less than 14 days to accomplish. This issue arises because of several factors. Other than the delays, consumers are always denied of warranty because of the dispute between the service centres and their respective brands, together with the lack of service centres in the buyer’s location. 

In other cases, warranty claims are often ignored due to the absence because purchasers do not acquire formal bills from the sellers. Furthermore, the negligence of the dealer to stamp or sign the warranty card may decline the purchaser’s rights. Plus, due to the component being phased out by the goods manufacturer despite the products are still under warranty, dealers are not able to cover any future warranty claims. The issue involving the product life-cycles and growth in outsourcing is evident when purchasers buy items belong to the computer industry. 

It is important for both purchaser and dealers need to be certain that the warranty card is stamped with a clear date of purchase. Consumers should always keep in mind to check the expiration date of the warranty and the conditions that may void coverage. Also, it is recommended for consumers to look for conditions that could prove expensive or inconvenient especially when buyers need to deliver a heavy purchase to a factory for service. Lastly, because the e-commerce in Malaysia is lagged behind approximately 3 to 5 years when compared to industries in the US (Mukhtar et al, 2016), both stores and brands should come up with a feasible solution to resolve their issues. 

CUSTOMERS WHO LOVE ONLINE SHOPPING: WHAT ARE OUR RIGHTS FOR FAIRER DIGITAL MARKETPLACES?

From the previous year, it was reported that e-commerce sales has reached up to the amount of 2.29 trillion (USD) globally and the amount is expected to climbed up to 4.49 trillion (USD), which would be double the existing value by 2021. Consumers from all walks of life for could buy or book anything online. For example, due to the booming of e-commerce in Pakistan, working women are doing most of their shopping online (The Tribune Express, 2018). We can see that e-commerce has change how the way people shop, offering customers more options apart from creating products and services accessible. 

Although this might seem interesting, 70% of online customers are feel that there still issues arising namely scams or fraud whenever they are making online transactions when purchasing goods over the internet (The Express Tribune, 2018). Some people still disapprove the idea of online shopping as they fear unexpected and dishonest costs, illegal and fraudulent scams or unfair, unclear and confusing business practices. Consequently, the digital economy could be experiencing a significant impediment in further development if consumers do not trust businesses. It is no use for companies to serve so many choices on such a convenient scale never seen if the customers feel discouraged from using the advanced technology. 

Hence, there is an obligation to consider a customer perspective to the policy framework because it is vital to gain trust in e-commerce as compared to the traditional way of business. A few steps have been implemented to combat this issue which include developing supportive financial services regulations, provide import and export regulations as well as establish and regulate e-commerce establishments. Furthermore, when customers are provided with a strong, safe and secure internet access across the country, customers shall feel safe and confident when online shopping. Plus, business companies should address clear terms and conditions, fair pricing and good redress procedures as growth on the supply-side of the digital market presupposes consumer trust on the demand-side of the market. Business companies, especially in Malaysia, need to have a strong e-commerce policy which benefits both parties where the business can be safeguarded while at the same time focusing on the customers.

MOST POPULAR ONLINE MARKETPLACES IN MALAYSIA

E-commerce serves as a platform to sell goods and services to consumers that comes with easy payment method. Because of the huge number of potential online shoppers, plenty start-up companies or individuals are growing their business in Malaysia’s digital market. Goods are often advertised through social media namely FaceBook, Instagram and Twitter as these platforms enable the sellers to generate more sales. Nevertheless, in order to optimize their businesses, goods are needed to be sold via multiple channels and by setting up their respective e-commerce website. For sellers that lack the skill or budget to set up their own e-commerce website, one should consider online marketplaces. 

Now, what is online marketplaces exactly? 

Online marketplaces are ready-made platforms which allow multiple third parties (the sellers) to list their products or services they wish to sell. Carousell, Lazada and Mudah are some of the popular online marketplaces that offer this service. These online marketplaces are so convenient that all we have to do is just signing up an account and start listing our products. Then, the online marketplace will manage the order for us from the existing order management system. Furthermore, the fast-growing online marketing in our country has attracted many sellers to generate sales from offline platform to online platform. 

Unlike e-commerce website, sellers do not have to invest some cash to maintain the website. Online marketplaces carry out site maintenance by automatically updating the content. Hence, it is no doubt that online marketplaces are becoming popular among us today.  These marketplaces garnered a huge number of visitors daily with in interest to buy which are most likely to turn into sales. The following are some of the most popular online marketplaces targeted to the people in Malaysia. These platforms are ideal for you and should come in handy when you want to find a cheap deal online at a later time! 

MALAYSIAN DIGITAL MARKETPLACE AND ITS FUTURE

Traditional retail industries are making their ways to participate in the digital trend. This eventually has heightened the fear of market saturation to the e-commerce industry. In order stay in the game for a longer period of time, digital marketers are investing their time, money and energy on newer technologies to further improving their businesses. Furthermore, technology experts believed that with the implementation of innovative and creative technology, the e-commerce industry is predicted to be more mobile and would involve the latest virtual reality market. Online shoppers will be dealing with sellers through such medium such as augmented reality and virtual reality when making purchases over the internet (Global Retail Trends, 2017). 

Furthermore, KPMG International Cooperative (2017) mentioned that online shopping via the digital marketplaces is predicted to be available on mobile devices. Mobile-first sites, dedicated apps and various payment methods made it easier for people who are busy running their day-to-day lives to shop by using their phones. For example, global mobile sales accumulated to 34% of all e-commerce transactions worldwide and it was predicted to grow 31% in 2017 (e-Marketer, 2017). Hence, businesses are utilizing omni-channel services as they believed that the consumers are always looking for a more convenient way of shopping. 

To provide a positive customer experience, businesses are working on a communication through the usage of technologies such as bots. Businesses are seen to be doing a good job connecting their physical and digital presence in enhancing the customer experience. For customers who expect a ‘phygital’ online shopping experience, investing in innovative and latest technologies is the answer. Other than fulfilling savvy consumers demands for customized services and experience, the latest technologies offer businesses to rise to the personalization challenge.