Podcast
Questions and Answers
What are the three main components or dimensions involved in every commercial transaction?
What are the three main components or dimensions involved in every commercial transaction?
- Delivery agent, Physical location, Pricing
- Product or Service, Process, Delivery agent (correct)
- Product or Service, Pricing, Promotion
- Process, Promotion, Physical location
Which type of commerce involves physical components such as products and services?
Which type of commerce involves physical components such as products and services?
- Traditional commerce (correct)
- Service-based commerce
- International commerce
- Digital commerce
What does traditional commerce rely on for its success?
What does traditional commerce rely on for its success?
- Word of mouth, networking, customer referrals (correct)
- Online advertising, social media marketing, email campaigns
- Print advertising, radio commercials, television ads
- Billboards, flyers, brochures
What kind of staff does traditional commerce need to hire?
What kind of staff does traditional commerce need to hire?
In traditional commerce, what does it often rely on for its success?
In traditional commerce, what does it often rely on for its success?
What does traditional commerce not share with its competitors?
What does traditional commerce not share with its competitors?
What is the broadest definition of E-Commerce?
What is the broadest definition of E-Commerce?
In E-Commerce, what does 'digitally enabled' primarily refer to?
In E-Commerce, what does 'digitally enabled' primarily refer to?
Which example represents 'partial E-Commerce'?
Which example represents 'partial E-Commerce'?
What are the dimensions that an E-Commerce platform needs to facilitate according to the text?
What are the dimensions that an E-Commerce platform needs to facilitate according to the text?
What does E-Commerce rely on for its success according to the text?
What does E-Commerce rely on for its success according to the text?
How does E-Commerce differ from traditional commerce in terms of core strategic decisions?
How does E-Commerce differ from traditional commerce in terms of core strategic decisions?
What significance does the web store being 'always open' hold for E-Commerce?
What significance does the web store being 'always open' hold for E-Commerce?
What does the degree of digitization in E-Commerce relate to according to the text?
What does the degree of digitization in E-Commerce relate to according to the text?
'Pure E-Commerce' involves which of the following?
'Pure E-Commerce' involves which of the following?
What is the modern business methodology that addresses the needs of organizations, merchants, and consumers to cut or reduce costs while improving the quality of goods and services according to the text?
What is the modern business methodology that addresses the needs of organizations, merchants, and consumers to cut or reduce costs while improving the quality of goods and services according to the text?
Study Notes
Commercial Transactions
- Three main components involved in every commercial transaction:
- No specific information provided in the text
Traditional Commerce
- Involves physical components such as products and services
- Relies on physical stores and face-to-face interactions for its success
- Needs to hire salespeople, cashiers, and other staff to manage physical stores
- Often relies on building relationships with customers for its success
- Does not share its customer database with its competitors
- Relies on physical stores being open during limited hours
E-Commerce
- Broadest definition: The buying and selling of goods and services over the internet
- 'Digitally enabled' primarily refers to the use of digital technologies to facilitate commercial transactions
- Example of 'partial E-Commerce' is a company that uses the internet to purchase products but sells them in physical stores
- E-Commerce platform needs to facilitate three dimensions: transaction, logistics, and customer service
- Relies on digital technologies and the internet for its success
- Differs from traditional commerce in terms of core strategic decisions such as inventory management, distribution, and marketing
- The web store being 'always open' allows E-Commerce to operate 24/7, making it a significant advantage
- The degree of digitization in E-Commerce relates to the extent of digital technologies used in commercial transactions
- 'Pure E-Commerce' involves buying and selling products solely over the internet
Modern Business Methodology
- Modern business methodology that addresses the needs of organizations, merchants, and consumers to cut or reduce costs while improving the quality of goods and services: E-Commerce
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Description
Test your knowledge of the basic concepts and components of e-commerce, including digital products, processes, and delivery methods. Explore the modern business methodology that facilitates commercial transactions between organizations and individuals.
