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Questions and Answers
What is the primary difference between E-Business and E-Commerce?
Which type of e-commerce model involves transactions between a business and individual consumers?
What is the concept of 'Wisdom of Crowds' in the context of e-commerce?
What is the primary focus of conversational commerce?
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What is the purpose of a Private Industrial Network (PIN) in e-commerce?
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Which statement best describes the impact of E-Commerce on traditional businesses?
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What is the key difference between E-Business and E-Commerce?
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In the context of e-commerce, what is the primary function of a Private Industrial Network (PIN)?
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What distinguishes Social Commerce from traditional e-commerce?
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What characterizes the Consumer-to-Business (C2B) e-commerce model?
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How does Mobile Commerce differ from traditional e-commerce?
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What is the primary aspect of Conversational Commerce in the context of e-commerce?
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Study Notes
E-Business and E-Commerce
- The primary difference between E-Business and E-Commerce is that E-Business is a broader concept that encompasses all aspects of a business, whereas E-Commerce is a narrower concept that focuses on buying and selling products and services online.
E-Commerce Models
- Business-to-Consumer (B2C) e-commerce model involves transactions between a business and individual consumers.
- Social Commerce is distinguished from traditional e-commerce by its integration with social media platforms, enabling social interactions and user-generated content to influence purchasing decisions.
- Characteristic of Consumer-to-Business (C2B) e-commerce model is that individuals offer goods or services to businesses.
Key Concepts
- The concept of 'Wisdom of Crowds' in the context of e-commerce refers to the aggregation of information and opinions from a large group of people, resulting in a more accurate and reliable outcome.
Private Industrial Network (PIN)
- The primary function of a Private Industrial Network (PIN) in e-commerce is to facilitate secure and private communication between businesses and their partners or suppliers.
Impact of E-Commerce
- The impact of E-Commerce on traditional businesses is that it has forced them to adapt to new business models and strategies to remain competitive.
Conversational Commerce
- The primary focus of conversational commerce is on using chatbots, voice assistants, and other conversational interfaces to facilitate customer interactions and transactions.
- The primary aspect of Conversational Commerce is the use of messaging platforms and voice assistants to enable customers to interact with businesses and make purchases.
Mobile Commerce
- Mobile Commerce differs from traditional e-commerce in that it enables transactions and interactions through mobile devices, such as smartphones and tablets.
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Description
Test your knowledge of e-commerce, e-business, mobile commerce, social commerce, wisdom of crowds, local commerce, conversational commerce, and different e-commerce models including B2C, B2B, C2C, and C2B.