E-commerce Key Features Overview
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E-commerce Key Features Overview

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Questions and Answers

What percentage of all B2C e-commerce was mobile commerce in 2021?

  • 19%
  • 66% (correct)
  • 50%
  • 74%

    • Prediction markets allow individuals to bet on the outcomes of various events.

    True

    ___ percent of smartphone owners use location-based services.

    74

    What is the fastest-growing form of e-commerce?

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

    Which service is considered a geoadvertising type?

    <p>Recommendations for nearby shops</p> Signup and view all the answers

    Mobile display advertising is not relevant to mobile commerce.

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

    Which companies provide account management apps in mobile commerce?

    <p>Banks and credit card companies</p> Signup and view all the answers

    Match the following types of location-based services with their descriptions:

    <p>Geosocial services = Finding where friends are meeting Geoinformation services = Displaying pricing information in real-time Geoadvertising = Advertising based on nearby shops On-demand economy services = Services like Uber that provide instantaneous access</p> Signup and view all the answers

    What does long tail marketing allow businesses to do?

    <p>Reach a large audience inexpensively</p> Signup and view all the answers

    Behavioral targeting involves tracking the online behavior of individuals across many websites.

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

    What is the primary purpose of social network marketing?

    <p>To leverage individuals' influence over others.</p> Signup and view all the answers

    The phenomenon where large groups of people can make better decisions is known as the ______.

    <p>wisdom of crowds</p> Signup and view all the answers

    Match the following features of social e-commerce with their descriptions:

    <p>Newsfeed = Regular updates on social media activity Timelines = Chronological arrangement of posts and interactions Collaborative shopping = Shopping experiences shared among users Social search = Getting recommendations based on social connections</p> Signup and view all the answers

    Which of the following is NOT one of the unique features of e-commerce?

    <p>Physical locations</p> Signup and view all the answers

    E-commerce has increased transaction costs for consumers.

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

    What is meant by 'global reach' in the context of e-commerce?

    <p>The ability of technology to reach across national boundaries, enabling commerce without modification.</p> Signup and view all the answers

    E-commerce enables _____ discrimination, allowing different prices for different consumer groups.

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

    Match the e-commerce feature to its description:

    <p>Ubiquity = Available everywhere, anytime Interactivity = Engagement of consumers in dialogue Information density = Increased amount and quality of information Social technology = Promotes content generation and networking</p> Signup and view all the answers

    What does the term 'disintermediation' refer to in e-commerce?

    <p>The removal of intermediaries in a value chain</p> Signup and view all the answers

    Richness in e-commerce allows for delivery of text, audio, and video simultaneously.

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

    What effect does ubiquity have on shopping costs?

    <p>Reduces shopping costs by providing access anytime and anywhere.</p> Signup and view all the answers

    The ability of technology to provide personalized messages to customers is an example of _____

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

    Which characteristic of e-commerce allows merchants to adjust prices based on demand?

    <p>Dynamic pricing</p> Signup and view all the answers

    Greater information density leads to lower price transparency.

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

    List two effects of increased market segmentation in e-commerce.

    <p>Targeted marketing and improved consumer satisfaction.</p> Signup and view all the answers

    One effect of reduced search costs in e-commerce is _____ efficiency.

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

    Match the e-commerce feature to its impact on consumers:

    <p>Global reach = Access to products worldwide Personalization = Tailored marketing messages Social technology = User-generated content Interactivity = Customizable shopping experience</p> Signup and view all the answers

    Study Notes

    E-commerce Key Features

    • E-commerce, the use of the internet for business, began in 1995 and has grown significantly.
    • The new landscape of E-commerce is characterized by social, mobile and location-based aspects.
    • The internet and the World Wide Web possess unique features that make them effective mediums for commercial activities.
    • Eight key features of the internet and WWW as commercial mediums include ubiquity, global reach, universal standards, richness, interactivity, information density, personalization/customization, and social technology.

    Ubiquity

    • Being available everywhere, including work and home, at any given time.
    • Creates a "marketspace" that transcends physical boundaries, enhancing convenience and reducing shopping costs.

    Global Reach

    • Internet technology reaches across national borders facilitating seamless global trade.
    • The marketspace has the potential to connect billions of consumers and millions of businesses globally.

    Universal Standards

    • A single set of internet standards ensures easy communication between disparate computer systems.
    • Lower market entry costs for merchants and reduced search costs for consumers due to easier communication.

    Richness

    • Capabilities of the internet to support video, audio, and text messages.
    • Enables delivery of rich messages with diverse media to a large audience.

    Interactivity

    • The internet facilitates dynamic interaction between users and platforms.
    • Consumers are active participants in the process of delivering goods to market.

    Information Density

    • The internet allows for a significant increase in the amount and quality of information available to all market participants.
    • Enhances transparency in pricing and costs.

    Personalization/Customization

    • Customization of messages and goods based on individual preferences are enabled by internet tools.
    • Sending personalized messages to specific individuals, and customizing products and services.

    Social Technology

    • The technology fosters user generated content and social networking interaction.
    • User content creation and distribution facilitated by social and business models.

    Effects of the Internet on the Marketplace

    • The internet can minimize information asymmetry, where one party in a transaction has more important information than the other.
    • Enhanced flexibility and efficiency are promoted through reduced search costs and transaction costs.
    • Lower menu costs (costs of changing prices) and greater price discrimination (selling the same product at different prices to different groups).
    • Dynamic pricing is enabled by the internet depending on supply and demand.

    Disintermediation

    • The internet can lead to disintermediation, which is the removal of intermediary organizations or layers from the value chain.
    • Consumers benefit from the removal of middlemen as the cost of goods becomes lower.

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    Related Documents

    MIS Week 9 Lecture Notes PDF

    Description

    Explore the essential features of e-commerce that have evolved since its inception in 1995. This quiz delves into aspects like ubiquity, global reach, and more, highlighting how the internet facilitates commercial activities. Test your knowledge on how e-commerce is transforming the way businesses operate globally.

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