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Questions and Answers
What is the primary difference between e-commerce and e-business?
Which of the following is NOT a primary technological building block underlying e-commerce?
What is the term for using social media platforms for sales?
What is the benefit of e-commerce that allows businesses to reach global markets without physical stores?
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What is the term for integrating offline and online channels?
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What is the term for technology that enables personalized recommendations and targeted advertising?
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What is the benefit of e-commerce that reduces costs related to physical stores and inventory management?
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What is the term for using artificial intelligence and machine learning in e-commerce?
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What is a key benefit of data analytics in e-commerce?
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What is the primary purpose of live chat support in e-commerce?
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What type of e-commerce transaction occurs when a consumer sells products or services to a business?
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What is a key advantage of e-commerce platforms in terms of scalability?
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What is the primary purpose of advanced security measures in e-commerce?
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What type of e-commerce transaction occurs when a business sells products or services to an individual consumer?
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Study Notes
E-commerce Definition and Difference from E-business
- E-commerce refers to the buying and selling of goods and services over the internet.
- E-commerce involves online transactions between businesses (B2B), businesses and consumers (B2C), consumers (C2C), and governments (B2G).
- E-business encompasses a broader range of online activities, including e-commerce, electronic interactions within organizations, online collaboration, electronic data interchange (EDI), and digital supply chain management.
Primary Technological Building Blocks of E-commerce
- Internet technologies: websites, web hosting, domain names
- Online payment systems: credit cards, digital wallets, PayPal
- Security protocols: SSL/TLS encryption, cybersecurity measures
- Mobile technologies: apps, responsive design
- Data analytics tools: customer behavior analysis, personalized marketing
Current Themes in E-commerce
- Mobile commerce (m-commerce)
- Social commerce (using social media for sales)
- Omnichannel presence (integrating offline and online channels)
- Personalized customer experiences (recommendation engines, targeted marketing)
- AI and Machine Learning in e-commerce (chatbots, predictive analytics)
- Blockchain technology for secure transactions
Unique Features of E-commerce Technology
- Global Reach: businesses can reach global markets without physical stores
- 24/7 Availability: online stores are accessible round the clock
- Personalization: technology enables personalized recommendations, targeted advertising, and customized shopping experiences
- Cost Efficiency: e-commerce reduces costs related to physical stores, inventory management, and distribution
- Data Analytics: businesses can gather and analyze vast amounts of data to understand customer behavior, market trends, and optimize strategies
- Interactivity: features like live chat support, reviews, and social media integration enhance customer engagement
- Scalability: e-commerce platforms can scale up to handle increased traffic and transactions during peak periods
- Security: advanced security measures protect customer data and transactions, fostering trust and confidence
Major Types of E-commerce
- Business-to-Business (B2B): transactions between businesses, such as suppliers selling to manufacturers or wholesalers selling to retailers
- Business-to-Consumer (B2C): transactions between businesses and individual consumers, such as online retail purchases
- Consumer-to-Consumer (C2C): transactions between individual consumers, often facilitated by online marketplaces or auction platforms
- Consumer-to-Business (C2B): occurs when consumers sell products or services to businesses, such as freelance work or user-generated content
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Description
Understand the definition and differences between e-commerce and e-business, including online transactions and electronic interactions.
