Explain product on different geographical locations without proper

Explain the key issues and growth challenges faced by an online company in the highly competitive Internet economy.

In Highly Competitive Environment,
there are several issues that can be faced by an online company .one of the
such challenge and issue that Companies Faced are discussed Below.

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Cultural & Language Barriers:

An online company needs to
appeal to all the users throughout the world. However, it may be a challenge
for a western online company to operate in the Middle East or the eastern countries
such as China

Monetization
Models:

Any
barrier in Language or Communication can easily hinder the monetization because
without proper monetization it’s difficult to sold product on different
geographical locations Therefore,
any barrier in language or communication channels can easily hinder the
monetization models of the company. For example, to overcome the cultural
barrier and Entry in China & Korea Market, EBay Target the Local companies
of China & Korea to Gain Market  (Curwen,
P. (2006) Will Skype Fever Abate Before it’s too late)

According to Hagiu (Strategic
decisions for multisided platforms) an
online company is also likely to face a challenge in coming up with the
monetization model. Because It’s not easy for any online company to sold his
product on different geographical locations without proper monetization model.

Communication
Channel:

Every
Growing Company is likely to get many users and it is very difficult to
communicate with all at the same time it’s a huge challenge for IT
Infrastructure of Company. As well as the growing online companies also faced
the problem of Handling large Volume of Online Data and the companies need to
handle these Data Problems without Compromising on the user Experience

Customer’s
loyalty:

 it’s a huge challenge for an
online company to make new Customers and maintain old Customer Trust and
Loyalty because the seller and Buyer doesn’t know each other or nor they can
see while making any transaction

Shipping:

It is
very difficult for online companies to manage their shipping transaction
because It is easy to
facilitate the online trade but it’s very complicated to
ship the product and insure that it will reach safely to the final destination Shipping always becomes a huge challenge when large
volumes of products are involved. The delays and the possible loss and damage
of goods during shipments have a profound effect on the customers.

product
return and refund:

The
Online Companies also Faced the Problem of Return and Refund Because before
buying any product Customer focus on the return and refund policy and mostly
customers want to see the Payment option is cash on Delivery (COD), and refuse
to accept the delivery.

 If the item or product is returned on any
reason or customer is dissatisfied or product is damaged, then it’s a huge loss
of company Reputation and Shipment