Awareness/participation of Liau & Cha Electronic Co. Ltd. in virtual worlds.

Liau & Cha Electronic Co. Ltd. is our company which sell all the electronic related product via physical store where located in United State. However, we found out that traditional brick and mortar operation no longer predominant in the market. In another words, it may lose competitive advantage to other competitors who are selling electronic products via both physical and online. Thus, we decided to expand our Bluetooth speaker with alarm clock which is electronic product to Alibaba in order to escalate our revenue.

            


Prior to expand a business to a virtual world, we aware that there are few existed competitors who are also selling a Bluetooth speaker with alarm clock in Alibaba such as Yuyao Aggpo Electronic Technology Co. Ltd and Zhongshan Sunpe Technology Co. Ltd. These two competitors have offer a different selling price but close to each other at the similar Bluetooth speaker with alarm clock. Thus, we used their average selling price as a benchmark to set for price of our speaker. Selling price of our speaker should not be exceed and approximately similar to the selling price of competitors.

           

While looking to the speaker, we noticed that the supplier will reveal their company profile and certification so that their customers are confident and trust to the speaker. Two of our competitors have given a strong secure and warranty to their speaker so that the product quality would able to be assure. The supplier would bear with full refund in case of bad quality of product has been detected. Eventually, they also provided the contact information to customers to make an inquiry to further assure the products’ information.

            

Apart from that, a product description have been designed by our competitors in order to convince the customers what their product is all about in term of picture, brand name, type, Bluetooth version, material, size, charging time and so on. The design on the overview of the product description is quite simple and obvious. However, all the required speaker’s information has displayed. Besides, they also provide a                                            delivery detail such as the date of product will arrived as delivery time is depend on how far a product delivers.

            

The reason of competitors wish to sell the Bluetooth speaker is due to they know that some people are searching for Bluetooth speaker but not finding many results. In order to secure their potential customers, they wish to increase the trade assurance so that customer’s consuming behavior can be influenced while they are searching for a speaker. Trade assurance included transaction level, supplier assessments, number of transaction has been made, response time and so on. Customers can easily grasp whether the particular product is frequently traded via review of trade assurance.

            

Furthermore, our competitors also offer some services like export processing support and after sales service in order to enhance customer’s loyalty. In export processing support, any inquiry will be replied by professional staff within 24 hours to assist customers in shipment, insurance and offering. In the after sales service, they attempt to seek for feedback of their customers and ready to work out a satisfactory solution along with customers.

            

Last but not least, our competitors also provide various type of payment option so that consumers can transfer money to them conveniently and proceed to delivery process. The payment options they applied are Visa, Master card, TT, Western Union, e-checking and so on. Visa and Master card payments is the most frequent method which buyers conduct payment through online and without going to bank to transfer money.

            

After we observe at our competitor within Alibaba, we determined to participate in this virtual world to expand our electronic business. As we previously have registered our company as both buyers and supplier perspective for Alibaba’s account, therefore, we commenced to build up our company reputation with company profile, certification and recognition. By providing a review of company’s information including contact details, it can convince to our customers that our company is legally existed.

            

After design a well company profile, we proceed to display our new product which is Bluetooth speaker in Alibaba website with product’s picture and details including delivery information. We set our Bluetooth speaker price at USD 12.00 with minimum 10 units and USD 9.00 with a 2000 units. Besides, we also sort and group our speaker into electronic category and computer hardware category so that our customers will able to search out our product without product’s name. In order to build up our trade assurance, we even response our customer quickly, increase and promote our transaction and eventually gradually developing our supplier assessment by our customers.

            

Lastly, after we also imitate after sales services that provided by our competitors. We try to seek the feedback from our customers’ satisfaction on product quality, delivery time, and payment method. It is essentially for us to enhance and improve our product and services. We attempt to meet all the customers’ need and want with a reasonable manner. Furthermore, we have also provided few payment methods to our customers to proceed payment to our product through Visa, Master card and Western Union.

            

Liau & Cha Electronic Co. Ltd. will started to launch our other electronic products soon via this virtual world platform in order to enhance the market.