E-commerce Fundamentals Quiz
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Questions and Answers

What is the primary electronic network used for E-commerce?

  • Television network
  • Radio network
  • Internet network (correct)
  • Telephone network
  • Which of the following is NOT an example of an E-commerce website?

  • Ebay
  • Facebook (correct)
  • Shopify
  • Amazon
  • Who is considered the largest e-commerce retailer by online revenue in the world?

  • Olx
  • Ebay
  • Amazon (correct)
  • Shopify
  • What did Michael Aldrich invent in 1979 that later became known as e-commerce?

    <p>Online transaction processing</p> Signup and view all the answers

    What is the electronic equivalent of a physical shopping cart in E-commerce?

    <p>Digital wallet</p> Signup and view all the answers

    What aspect of E-commerce involves the catalog of products, selection of items, and providing a bill and ship to address for purchase and delivery?

    <p>Online shopping process</p> Signup and view all the answers

    What technology facilitated commercial transactions electronically in the 1970s?

    <p>Electronic data interchange</p> Signup and view all the answers

    What is one of the big e-commerce challenges for SMBs mentioned in the text?

    <p>Managing quality website traffic</p> Signup and view all the answers

    What is emphasized as being crucial for turning website traffic into converting customers?

    <p>Having a modern and clean website</p> Signup and view all the answers

    What is the degree to which a product satisfies market demand referred to as?

    <p>Product-market fit</p> Signup and view all the answers

    What is one of the most overlooked areas of the customer experience when moving to e-commerce according to the text?

    <p>Pricing and customer segmentation</p> Signup and view all the answers

    What is crucial for business owners to keep data safe and secure while helping employees feel empowered to combat cyberattacks?

    <p>Implementing a cybersecurity framework</p> Signup and view all the answers

    What should be outsourced to a third-party fulfillment company whenever possible for increased efficiency?

    <p>&quot;Order fulfilment&quot;</p> Signup and view all the answers

    "Product-market fit" is the degree to which a product satisfies what?

    <p>&quot;Market demand&quot;</p> Signup and view all the answers

    "To increase sales, e-commerce SMBs need to have what at the right price?"

    <p>&quot;The right product&quot;</p> Signup and view all the answers

    "If you want your brand to stand tall, then customer satisfaction should be what?"

    <p>&quot;The first priority&quot;</p> Signup and view all the answers

    E-commerce is the buying and selling of goods and services or the transmitting of funds or data, over an electronic network, primarily ______

    <p>internet</p> Signup and view all the answers

    Online stores like Amazon, Shopify, Ebay, Olx are examples of ______ websites

    <p>E-commerce</p> Signup and view all the answers

    The selected items are placed in the electronic equivalent of a shopping cart and provides a bill and ship to address for purchase and ______

    <p>delivery</p> Signup and view all the answers

    Michael Aldrich invented online shopping to enable online transaction processing between consumers and businesses, or between one business and another, a technique known later as ______

    <p>e-commerce</p> Signup and view all the answers

    Amazon is the largest e-commerce retailer by online revenue in the ______

    <p>world</p> Signup and view all the answers

    The process of ecommerce involves the catalog of products featured on the site and select items to ______

    <p>purchase</p> Signup and view all the answers

    In the 1980s, the growth and acceptance of credit cards, ATM, telephone banking, and airline reservation system contributed to the expansion of ______.

    <p>Ecommerce</p> Signup and view all the answers

    In the 1990s, the internet was commercialized and users flocked to participate in the form of dot-com or internet start-ups, marking the rise of ______.

    <p>Ecommerce</p> Signup and view all the answers

    One of the big e-commerce challenges for SMBs is ______.

    <p>Cybersecurity</p> Signup and view all the answers

    Competition in the ecommerce space includes keeping up with competitive pricing, products, and service to stay ahead in the ______.

    <p>Market</p> Signup and view all the answers

    Order fulfilment should be outsourced to a third-party fulfilment company whenever possible for increased ______.

    <p>Efficiency</p> Signup and view all the answers

    To turn your traffic into converting customers, you must have a website that is modern, clean, user-friendly, trustworthy, and ______.

    <p>Virus-free</p> Signup and view all the answers

    Having a good return/refund policy could be the difference between success and ______.

    <p>Failure</p> Signup and view all the answers

    The first step of any business is to find product/market fit, and ecommerce is no different. Product-market fit is the degree to which a product satisfies ______ demand.

    <p>Market</p> Signup and view all the answers

    To increase sales, e-commerce SMBs need to have the right product at the right price and ensure they are top of mind when the customer is ready to make a ______.

    <p>Purchase</p> Signup and view all the answers

    Traditional commerce refers to the practice of selling products and services within a single industry and in some cases a specific ______ area.

    <p>Geographical</p> Signup and view all the answers

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