Podcast
Questions and Answers
Which of the following is NOT a key feature of e-commerce?
Which of the following is NOT a key feature of e-commerce?
What popular feature of e-commerce allows customers to validate their purchasing decisions?
What popular feature of e-commerce allows customers to validate their purchasing decisions?
Which e-commerce model involves transactions between consumers?
Which e-commerce model involves transactions between consumers?
Why might customers prefer e-commerce platforms over traditional stores?
Why might customers prefer e-commerce platforms over traditional stores?
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What does the term 'e-commerce sectors' refer to?
What does the term 'e-commerce sectors' refer to?
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Which of the following is NOT one of the 4 P's of the marketing mix?
Which of the following is NOT one of the 4 P's of the marketing mix?
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What does the 'Product' component of the marketing mix refer to?
What does the 'Product' component of the marketing mix refer to?
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When pricing a new product, what is an important factor to consider?
When pricing a new product, what is an important factor to consider?
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Why is it important for a business to ensure their product is unique?
Why is it important for a business to ensure their product is unique?
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Which component of the marketing mix focuses on where the product will be sold?
Which component of the marketing mix focuses on where the product will be sold?
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What might be a disadvantage of using vending machines in distribution?
What might be a disadvantage of using vending machines in distribution?
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What type of businesses do hairdressers, make up artists, and tailors represent?
What type of businesses do hairdressers, make up artists, and tailors represent?
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What is one major advantage of using wholesalers for manufacturers?
What is one major advantage of using wholesalers for manufacturers?
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What role do agents play in the business process?
What role do agents play in the business process?
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Which category does a tech shop like E-max fall into?
Which category does a tech shop like E-max fall into?
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What must a business consider when creating the promotion strategy?
What must a business consider when creating the promotion strategy?
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What is the purpose of promotion?
What is the purpose of promotion?
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Which of the following is NOT an example of a specialty channel of distribution?
Which of the following is NOT an example of a specialty channel of distribution?
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Study Notes
E-commerce Advantages for Customers
- Customers can access honest product reviews from other users.
- Customers can easily compare prices from various online retailers.
- Online stores offer a wide variety of product options and choices.
- Customers can receive products quickly, often within a few days.
- Customers find it convenient to purchase products online, saving them time and effort.
E-commerce Models
- Business-to-Consumer (B2C): Businesses sell products directly to consumers.
- Business-to-Business (B2B): Businesses sell their products and services to other businesses.
- Consumer-to-Consumer (C2C): Individuals sell goods and services to other individuals.
The 4 P's of the Marketing Mix
- Product: The specific good or service being offered.
- Price: The cost at which the product is sold.
- Place: The distribution channels and locations where the product is made available.
- Promotion: The strategies used to communicate the product's value and persuade customers.
Specialty Channels of Distribution
- Telemarketing: Businesses contact potential customers directly through telephone calls to promote their products or services.
- E-commerce: Businesses sell their goods and services online through dedicated websites or platforms.
- Vending machines: Machines that dispense goods, often snacks, drinks, or other small items, in exchange for payment.
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Description
This quiz explores the various advantages of e-commerce for customers, including product reviews, price comparisons, and convenience. It also covers e-commerce models such as B2C, B2B, and C2C, as well as the fundamental 4 P's of the marketing mix essential for successful online selling.
