Questions and Answers
When did online shopping become possible for the public?
1991
What is the fundamental idea related to building a successful e-commerce business?
Hiring experts with customer insights
What technological advancements paved the way for modern-day E-commerce stores?
Introduction of EDI and teleshopping in the 1970s
What is the main focus when building an e-commerce business according to the text?
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What is the definition of e-commerce according to the text?
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What does the term e-tail refer to in the context of e-commerce?
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Which company was one of the first E-commerce sites in the US to start selling products online?
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What is the e-commerce customer journey?
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What is one of the advantages of e-commerce for business owners?
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What are some typical costs involved in running an e-commerce store?
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What is the first stage of the e-commerce customer journey?
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Why is running an e-commerce store more cost-effective than running a physical store?
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What does the term e-business refer to in relation to e-commerce?
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What are the different stages included in the e-commerce customer journey?
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What is the term used in reference to the process that a customer goes through when interacting with an e-commerce business from the initial awareness stage to the final conversion stage?
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What are some advantages of e-commerce for business owners who don’t want to set up a physical storefront?
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The history of E-commerce started over 50 years ago.
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Teleshopping in the 1970s paved the way for modern-day E-commerce stores.
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Amazon was not one of the first E-commerce sites in the US to start selling products online.
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E-commerce refers to the buying and selling of products or services via physical stores.
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The fundamentals of e-commerce include hiring right, having a clear goal, and making things complex.
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E-commerce and e-business are two distinct terms that cannot be used interchangeably.
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The e-commerce customer journey typically includes stages such as awareness, consideration, purchase, and post-purchase experience.
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Running an e-commerce store is more cost-effective than running a physical store due to the need for commercial real estate and security investments.
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E-tail is a term used in reference to the transactional processes that make up online wholesale shopping.
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The e-commerce customer journey refers to the process that a business goes through when interacting with its customers from the initial awareness stage to the final conversion stage.
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Study Notes
History of E-commerce
- Online shopping became possible for the public over 50 years ago.
- Teleshopping in the 1970s paved the way for modern-day E-commerce stores.
Definition of E-commerce
- E-commerce refers to the buying and selling of products or services via digital channels.
Fundamentals of E-commerce
- The fundamental idea related to building a successful e-commerce business is hiring right, having a clear goal, and keeping things simple.
E-commerce vs. E-business
- E-commerce and e-business are interchangeable terms, both referring to the conducting of business operations using digital technologies.
E-commerce Customer Journey
- The e-commerce customer journey refers to the process that a customer goes through when interacting with an e-commerce business from the initial awareness stage to the final conversion stage.
- The stages of the e-commerce customer journey include awareness, consideration, purchase, and post-purchase experience.
Advantages of E-commerce
- One of the advantages of e-commerce for business owners is that it allows them to operate without the need for a physical storefront.
- Running an e-commerce store is more cost-effective than running a physical store due to the elimination of costs such as commercial real estate and security investments.
E-tail
- E-tail refers to the transactional processes that make up online retail shopping.
Costs of Running an E-commerce Store
- Typical costs involved in running an e-commerce store include various operational expenses.
Early E-commerce Sites
- One of the first E-commerce sites in the US to start selling products online was NetMarket.
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