Introduction to SAP- System, Application, Product

picture of the varous elements of ecommerce

cloudways.com

Systems, Application, Products (SAP) is the next level of consumer engagement system in the world of marketing today! Let me try and explain the importance of this system to the various corporations today in this blog.

Thoughts

SAP seems to be gaining a lot of importance in the industry today for the most obvious reasons due to what it does for the industry. The idea behind all brands generally speaking is to get the consumers earlier on in their consumer journey. The better the brands can do that, I believe the better their performance would be, hence reflecting positively in its bottom line as well. Due to its performance and the very nature of business, many brands would certainly adopt SAP today but the question also remains whether it is within the brand’s budget, since all these sophisticated systems today cost a bomb! Another drawback of these systems today are to the workforce? Due to the availability of such systems today in the market, it is evident that these systems would handle the work of several employees single-handedly, making the process much smoother, automated and seamless for the organisations. This, in turn, one can see the rise in demand for such professionals who have the knowledge in such systems for implementations and maintenance. Thus today, more and more professionals are striving to learn such expertise in order to gain the market and stay updated since it is the way of the future!

Definition

By definition, SAP is the Systems, Applications, Product in data processing.SAP itself is a german company, known for building enterprise resource planning systems, one of the biggest in the world today. It helps in the operations of everyday business, contains several systems which come together gathering data from the different aspects of the business, hence making the job of the organisations way simpler and hassle free.

How does it help the companies?

Just by the definition and the nature of the business, one can guess the exact service it provides the big organisations who could afford this system? But one has to agree to the fact that, these kinds of systems do in fact make a positive impact on the organisations with big data and resources, more so to make sense of those data today.

Where in the industry does it fit?

The SAP like several systems today namely Marketo, Salesforce and Hubspot are rapidly taking over the market, making a wave for the automation market today. Hence, that also gives rise in demand for the professionals who know these systems or organisations are being trained by these professionals. It is certainly taking a big piece of the pie today in the marketing world. The system fits very integrally within the consumer journey, adding more touch points to the consumer to act on their purchasing behaviour. Apart from the usual practices today, where you have the extra business information, contact numbers, google maps to reach the business locally in search, the system adds buttons to reach the salesperson, dealer, distributor right there on the site, pushing the intent of the target audience just enough to make the purchase and start the relationship with the brand right away! Any true marketer would feel this system is brilliant!

Conclusively, as we delve more and more into the consumer, keeping them relevant, its a matter of time before we hear and see something even more intricate and personal disrupting the industry in all the right ways, adding more value to the customers as well as the organisations in the future!

Source: http://tcrn.ch/2oF4qkT

 

 

 

Impact of security and pricing in a Marketplace

So, we know that today the marketplace is a complex web of sellers and buyers in a digital space, hence the need for online security which eventually impacts the pricing. Think of them as a market in an online space where all buyers start looking for goods they need and would like to buy. The questions where do they go since the number of sellers have increased a hundred folds hypothetically speaking since the online marketplace has given countless more sellers to set up shop and sell their products. Even more so, this space has even given the sellers the power of search marketing, everything they can do with it rightly and target the very specific target audience out there! But having said that, the true power still remains with the buyers, the customers in today’s markets after evolving for a decade of how businesses are conducted, being transformed from the product centric market to being a customer-centric one today. Keeping all these complex marketplaces in mind, the more complex sellers and the buyers online community, has evidently created a bigger market for the security of these businesses, transactions happening online. Hence, the topic of pricing has come about and how it has impacted the marketplace today.

picture of a keypad of a laptop signifying the marketplace existing in the virtual world

thinkapps

The security of the dealings online starts from the very start if you imagine the structure of the e-commerce platform, right from the user (customer)-seller(merchandiser), the middlemen like the wholesalers, retailers(could also be considered the seller) and more essentially the banks who provide the transactions in partnership with the merchandisers, even transactions between the banks themselves in various transactions where needed locally and international transactions if applicable. In all of these dealings, pricing and payments can not be ignored and has to be given highest priority in order to make the sellers and the buyers comfortable in their transactions, so that these people can concentrate on other important tasks in their respective businesses. And like any marketing person will know that in most scenarios, a lot of the percentage of the costings for any business operations eventually trickles down to the end consumers, hence the more the operational costs for a business, the more it would cost for the end consumers in order to purchase. Some of the common insecurities for these financial institutions, businesses would be from internet hackers who specialise in high-end programming to sabotage the system anywhere, insecurities for the sensitive communications between financial institutions and many similar nature business operations. In order to combat these, among several other tactics, there are also the white hat hackers, who specialise in testing huge systems for the big corporations and financial institutions.

picture of computer and a mobile phone with a key to portect the data inside

commercedynamics.com

Some of the important elements of the impact on pricing could be namely due to the following;

  1. Digital Divide-  the significant digital divide between the demographics who have well-established internet providers and connections and the demographics who do not sufficient standard of internet providers, hence this divide creates a shift in balance more inclined towards the demographics with better intern provides and services, in spite of the same charges in both demographics
  2. Consumer market and B2B market- in both these markets the key are the customers, hence it is always the aim to get the customers earliest in their consumer- journey, in order to nurture the consumers appropriately according to each customer since every customer is also different and unique
  3. Utility- this element talks about how the consumers are served eventually with respect to prices, convenience of purchasing, finding their intended products online, the speed of the process and the trust the consumers put in the product or brand, the better the utilities of one business, the better the results for the business
  4. Personalised- this is the emphasis on the personalization of the products today as per the consumers, hence the emergence of niche markets online today, where some products or brands only serve a small fraction of the consumers who also turn out to be loyals eventually.
  5. Participatory, Peer-Peer, communal- this gives emphasis on the channels which make the brand more engaging with the consumers, there is a lot of conversions between the consumers, hence also leading to advocacy of the brand products making up for a healthy community for the brand and its products
  6. Multi-channel- in today’s day and age, multi-channel marketing is of vital importance, since the consumers can be found anywhere from a laptop to their workstations on a desktop to their tablets or their mobiles hence making the market a multi-channel one, hence brands need to think hard about where to find their target audience and serve them where they are and not what the brands think? All of this can be found out through the online data.

Conclusively, the security of the marketplace and the pricing are both very important elements of the online space today and more and more investments are being poured into this space by corporates and government bodies to make it more secure.