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?
- Ability to return products in-store (correct)
- 24/7 availability
- Global access
- Convenient payment options
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?
- Honest reviews of products (correct)
- Limited product information
- Physical store visits
- Sales promotions
Which e-commerce model involves transactions between consumers?
Which e-commerce model involves transactions between consumers?
- C2C (correct)
- C2B
- B2C
- B2B
Why might customers prefer e-commerce platforms over traditional stores?
Why might customers prefer e-commerce platforms over traditional stores?
What does the term 'e-commerce sectors' refer to?
What does the term 'e-commerce sectors' refer to?
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?
What does the 'Product' component of the marketing mix refer to?
What does the 'Product' component of the marketing mix refer to?
When pricing a new product, what is an important factor to consider?
When pricing a new product, what is an important factor to consider?
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?
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?
What might be a disadvantage of using vending machines in distribution?
What might be a disadvantage of using vending machines in distribution?
What type of businesses do hairdressers, make up artists, and tailors represent?
What type of businesses do hairdressers, make up artists, and tailors represent?
What is one major advantage of using wholesalers for manufacturers?
What is one major advantage of using wholesalers for manufacturers?
What role do agents play in the business process?
What role do agents play in the business process?
Which category does a tech shop like E-max fall into?
Which category does a tech shop like E-max fall into?
What must a business consider when creating the promotion strategy?
What must a business consider when creating the promotion strategy?
What is the purpose of promotion?
What is the purpose of promotion?
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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