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12 Questions

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Commerce in the Era of IR4.0

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Questions and Answers

What is one advantage of using the internet for business?

Lower security risks

Reaching customers globally (correct)

Facing less competition

Needing a physical store

What is a disadvantage of starting an online business?

Limited competition

24/7 customer service

Higher security risks (correct)

Lower operational costs

Why might it be harder to build trust with online customers?

Inability to see or touch products (correct)

More opportunities for customer interaction

24/7 accessibility to customers

Physical presence of products

What does the text suggest about the internet's impact on business operation?

Transforms how companies operate Signup and view all the answers

What characterizes commerce in the era of IR4.0?

Digital integration and global connectivity Signup and view all the answers

How are entrepreneurs using online tools in the contemporary digital landscape?

To sell things, talk to customers, and build a community Signup and view all the answers

What do customers expect in the contemporary digital landscape?

Personalized products, quick service, and more information about product origins Signup and view all the answers

Why is keeping customer information safe online super important for businesses?

To build trust with customers and avoid data breaches Signup and view all the answers

What has led to an increase in the importance of digital marketing and social media?

The digitalization of commerce and the rise of e-commerce platforms Signup and view all the answers

What enables businesses to offer personalized shopping experiences in the era of IR4.0?

Advanced data analytics and AI Signup and view all the answers

What technology allows for real-time tracking and optimization of supply chains in the era of IR4.0?

IoT and AI technologies Signup and view all the answers

Which development has allowed brands to interact directly with consumers, bypassing traditional retailers and distributors?

Shift towards direct-to-consumer (D2C) models Signup and view all the answers