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Global Sources Business Model Information Technology Essay

1396 word (6 pages) essay in Information Technology

5/12/16 Information Technology Reference this

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Global Sources was founded on the principle that international trade between companies, individuals, and nations creates a prosperity whose mutually supporting nature brings people closer together, strengthens bonds and ultimately leads towards world peace.

www.GlobalSources.com has 65 content management offices worldwide. If there is no office in your area then you can call on their number and find out necessary details that are required by you. Refer figure 2 in appendix.

Global sources is an open market for the export and import of goods to and from China(refer figure 3 in appendix). So indirectly it is also aiding in enhancing the economy of the country by encouraging export of good in bulk. Global sources follows a corporate social policy and makes sure it is doing its bit to improve the standard of living of the underprivileged.

If you need to find a supplier or manufacturer in a specific part of the world or you are interested in creating a business relationship with a new partner then Globalsources is the site for you. The site offers the possibility to look for retailers, suppliers, manufacturers and potential business partners in any part of the world. The service offered by this site is completely free, but to use it, you need to create your own account, by a detailed process in which you need to put all information about your business. The various categories which one can browse through are:

Home Products

Machinery

Electronics

Fashion Accessories

Computer Products and many more.

These products are easy to find and order. The site adds around 7,000 new products every week, thus if the product you are looking for is not there on the website it is likely to come soon.

To buy and sell products through globalsources you just have to make an account for free, give a certain amount of information about your business and you can easily start. Then you just login in and get your private supplier catalog (refer figure 4 in appendix).

 

 

COMPETITIVE ADVANTAGE

Choice of quality, verified suppliers

Fast search

Quality selection of new products

Verified suppliers star ranking system

Trade show center

Depth and quality of specialized information

Less risk

Better products

More sourcing confidence

PRODUCTS

Find the right information package for your industry:

Auto Parts And Accessories

Baby And Children Products

Computer Products

Electronics

Electronic Components

Fashion Accessories

Garments And Textiles

Gifts And Premiums

Home Products

Hardware And DIY

Security Products

Sports And Leisure

Telecom Products

COMPETITORS

The major competitor’s to WWW.GLOBALSOURCES.COM are:

www.GLOBAL SOURCES.com

www.ec21.com

www.onccc.com

www.indiamart.com

www.tradeindia.com

www.madeinchina.com

MARKETING STRATEGY:

Global sources have adopted the search engine marketing (SEM) activity, which means that ads for Global Sources appears on various search engine like Google, Yahoo, MSN. The more the queries for the various keywords provided by Global Sources the more the opportunity the website gets to advertise through the search engine marketing.

GLOBAL SOURCES BUSINESS MODEL

Global sources is an example of Business-to-Business method of e-business. It works on Business-to-Business INTERMEDIARY MODEL. This model is also known as “ELECTRONIC EXCHANGE”. It serves as an exchange for purchase and sale of products and services between buyers and suppliers worldwide and interfaces all supply chain management phases between them. It maintains wide-ranging database containing details of export products and suppliers.

The Global Sources website presently operates with around 213,001 buyers who 89,310 suppliers who are spread across 91 countries. More than 89,799 products with full specifications are available on the website.

Global sources B2B model is based on HORIZONTAL DISTRIBUTION. Thus, global sources are known as horizontal distributors and distribute products and services at different negotiable prices.

A typical B2B scenario can be shown by figure(a). As described in the figure, in B2B businesses, buyers from one business purchase products or services from others. The suppliers selling these can be

Wholesaler

Distributor

Manufacturer

Retailer

Refer figure 5 in appendix

CUSTOMER VALUE PROPOSITION

Global sources provide a platform to the international buyers/suppliers worldwide in:

Supplier and product or buyer identification

Enhanced marketing opportunities

Buyers prefer different kind of media for various different reasons. Since every client does not use online websites, global sources extend “Media Selection” facility to its buyers which can be customized as per buyers’ needs/specifications. In the same manner, even the suppliers are given authority to design their own campaigns of media marketing in lieu with the preferred media types.

Other benefits are offered in form of following facilities:

Supplier Details which helps the buyers in choosing the most economic and cost effective supplier with best possible dealings.

Suppliers also get access to market forecasts (based on buyer inquires) detailing various high demand zones.

There are special features in the website that enable anyone viewing the website to simultaneously convert currency as well as the time zone. The website also provides the latest news and research related to the industry.

GLOBALSOURCES-MARKETPLACE:

Global sources have customers spread all over the globe:-

Western euroope-18%

Eastern Europe and CIS-3%

North America-24%

Asia-26%

Africa-9%

Middle East-7%

Australia and Oceania-4%

Central and South America-9%

Refer figure 6 in appendix

REVENUE MODEL:

The revenue model at GLOBAL SOURCES is :

Per trade brokerage

This means that for every supplier on the confirmation of a deal will pay a certain amount of money to global sources. In this way, even if the registration for the buyer’s and suppliers is free global sources generate money from the successful transactions happening through the site.

Advertisements

The other source of revenue is through ads posted on the website

MANAGEMENT TEAM BOARD OF DIRECTORS

Merle A. Hinrichs Chairman and Chief Executive Officer

Spenser Au

Deputy Chief Executive Officer

Sarah Benecke

Executive Director

Craig Pepples

Chief Operating Officer

Eddie Heng

Interim Chief Financial Officer

Bill Georgiou

Chief Information Officer

Peter Zapf

Deputy Chief Operating Officer

Mark A. Saunderson

President of Electronics Business Unit

Daniel Yeung

Sales President of Global Sources Online 

Tommy Wong

President of Global Sources Exhibitions

James Strachan

Executive Vice President of Corporate Development

Merle A. Hinrichs

Sarah Benecke

Eddie Heng

Roderick Chalmers

David Jones

James Watkins

Robert Lees

CONCLUSION:

The team at GLOBAL SOURCES is doing an excellent job, though it is behind alibaba.com in the b2b segment as of now, if they continue to progress at this rate, the day when they will become the top B2B website is not far away.

GLOBAL SOURCES has to gain the trust of all their customers and make sure that no fraud is conducted. The security of the web site has to be up to date and the good work of verifying the suppliers needs to continue and reach to a new level of trust and acceptance by the global market.

GLOBAL SOURCES has to make utmost efforts to call for more members, aggressively and develop the e-markets for buyers and sellers, along with providing customers with updated and efficient e-services to become one of the leading e-business players in the world.

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