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Don't hesitate to comment below if you have any questions or additional phrases Global E-Commerce Cultural Marketing: Issues, Concerns, and Solutions ,What is Global E-commerce? Allowing businesses and customers to buy, sell, finance, pay, and settle in on an online environment that incorporates trust, identity validation, and risk management Expanding market potential worldwide for products and services. ,Who is Participating in global e-commerce? Business to Business Business to Customer Customer to Customer Government to Business Government to Public Government to Both Suppliers and Consumer ,Global e-commerce hype Estimates have indicated that approx 60,000-70,000 end users per day join the Internet Estimates claim that 1.2 servers are connected to the Internet each minute 60% of all global companies access the Internet with continual growth ,Continued…. Over 90% of the world’s population is outside the United States More than 50% of the world’s gross domestic product (GDP) is generated from emerging markets. Economic growth rates in the emerging markets are 3-10 times that of the United States ,Global e-commerce benefits Expanded Sales Universe Additional Sales Channel More Targeted Marketing Reduced Cost of Sales Shorter Purchasing Cycles Communities of Interest Pricing Alternatives ,Global prediction by: Forrester Research ,Cultural Preferences International Telecommunications Customs Security Transactions Privacy Issues Bookkeeping Problems Localization Lack of Standards Congestion Network Quality Issues Technological Issues Governmental Restrictions and Laws Taxes and Duties Global e-commerce issues ,3 Key Issues to focus upon Financial Issues Currency taxation Legal Issues Government and Law Market Access Issues Language Culture distribution ,Global prediction by: Computer Economics ,Internationlization restructuring software used by your ebusiness to process foreign languages, currencies, date formats, other variations www.unicode.org localization translation and cultural adaptation of your content and presentation www.transparentlanguage.com www.logos.it adapting icons understandable currency research culture www.etranslate.com Internationalization & Localization ,Language Concerns All languages should have an Internet presence. A company should provide for content translation. A technological solution should be 100% accurate. ,The Babel Site – Joint project to internationalize the Internet. HTML – Internationalization http://babel.alis.com:8080/web_ml/index.html ISO 10646 & Unicoding 30,000 character sets Windows 2000 Multilingual Capabilities 23 localized languages Demographic Tables Language Issues ,Possible Language Solutions Software translators - Language Force Computer Aided Translations –Systran Localization tools - Language partners International LOCAL PARTNER OR STRATEGIC ALLIANCE ,Financial Issues Taxation -Taxes and/or duties should not hinder commerce -Tax laws should be capable of capturing revenues, be easy to implement, and minimize record keeping and costs for all parties -Tax system developed that will be used by everyone (the United States and all international partners) http://www.ecommercetax.com/VAT.htm value added tax – European Union -Electronic payment systems via the Internet ,Currency Concerns To get paid in a convertible currency. Protection from fluctuating rates. To simplify the payment of the customer. To speed the payment process. ,Currency Solutions Pacific Exchange Rate Service lists 222 countries with convertible currencies. Electronic Payment Systems lists 134 sites for payment mechanisms designed for the internet. LETSystems money is information. The Universal Currency Converter(tm) – Place on web site to assist in currency conversion. ,AMOUNT SPENT BY LOCATION ,Legal Issues The UCC (Uniform Commercial Code) - contractual relationships between both parties - rules regarding technology (existing and future) - modification of rules as changes occur Taxation and Legal issues www.abane