E-Commerce Overview and Key Concepts

Podcast Beta

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the primary function of Electronic Data Interchange (EDI)?

Buying goods online

Communication between customers

Transfer of funds electronically

Transfer of business documents between computers (correct)

Which of the following best describes Business to Business (B2B) transactions?

A business selling directly to customers

One business selling to another business (correct)

An individual selling to another individual

A customer purchasing from a business

Which characteristic is true of Customer to Customer (C2C) commerce?

Companies sell directly to consumers

Only large corporations can participate

Business entities facilitate transactions

Customers exchange products among themselves (correct)

What does market segmentation involve?

Dividing customers into specific groups Signup and view all the answers

Which of the following is a disadvantage of e-commerce?

No guarantee of product quality Signup and view all the answers

What is meant by positioning in e-commerce?

Aligning the brand with the target market Signup and view all the answers

What is a feature of the Internet?

Use of a standard internet protocol for network communication Signup and view all the answers

What does Digital Marketing encompass?

Marketing products via digital channels including mobile and internet Signup and view all the answers

What is a key advantage of Pay Per Click (PPC) marketing?

Traffic is targeted and measurable Signup and view all the answers

What does Social Media Marketing (SMM) primarily focus on?

Producing shareable content for brand exposure Signup and view all the answers

Which of the following best describes crowdsourcing?

A problem-solving model involving a large group of people Signup and view all the answers

What is one of the roles of a web content writer?

To provide relevant content for websites Signup and view all the answers

Which of these is not a common disadvantage of content writing?

Discipline in work habits Signup and view all the answers

What does SEO stand for?

Search Engine Optimization Signup and view all the answers

What is an 'open call' in the context of crowdsourcing?

A request for anyone to submit solutions to a problem Signup and view all the answers

What is the main purpose of Search Engine Marketing (SEM)?

To increase website visibility through paid advertising Signup and view all the answers

Study Notes

E-Commerce

E-commerce involves buying, selling, exchanging products, services, and information electronically.
Key players: buyers, sellers, producers.
Electronic Data Interchange (EDI): computer-to-computer exchange of business documents in a standardized format.
Electronic Fund Transfer (EFT): electronic transfer of money between accounts.
Types of E-commerce:
- Business-to-business (B2B): transactions between businesses.
- Business-to-customer (B2C): direct selling to consumers.
- Customer-to-business (C2B): customers create products or services sold to businesses.
- Customer-to-customer (C2C): commerce between individuals.
Intranet: internal network for sharing information within an organization using Internet technology.
Internet: a global network of interconnected computers using standard protocols.
Extranet: allows external users to access an organization's intranet.
Market Segmentation: dividing customers into groups based on shared characteristics and needs.
Positioning: aligning your brand and products with the target market.

E-Commerce Advantages

Buy/sell from home or business.
Anytime, anywhere transactions.
Finding the lowest cost for goods and services.
Reaching global clients and business partnerships.
Reduced order processing costs.
Faster electronic fund transfers.
Simpler, faster, and cheaper supply chain management.

E-Commerce Disadvantages

No guarantee of product quality.
Vulnerability to hackers and cyberattacks.

E-commerce Process (STP)

Segmentation
Targeting
Positioning

Digital Marketing

Marketing products or services using digital technologies (internet, mobile phones, etc.).
Goal: reaching the right audience.
Components: branding, social media, content marketing, email marketing, video production, SEO, web design, app development, SEM.

Pay Per Click (PPC) Marketing

Search engine advertising to generate website clicks.

Utilizing social networking websites for marketing.
Creating content for sharing to increase brand exposure and reach.

Content Writing

Providing relevant website content tailored to the target audience.

Advantages of PPC

Fast and measurable results.
Targeted traffic.
Pay only for clicks.
Instant placement on the top of Google's search results.

Advantages/Disadvantages of Content Writing

Advantages:
- Plenty of work available.
- Improves writing discipline.
Disadvantages:
- Low pay rates.
- Often involves ghostwriting.
- Can be addictive.
- Limited creative control.

Various Fields in Digital Marketing

SEO (Search Engine Optimization)
SMO (Social Media Optimization)
SEM (Search Engine Marketing)
SMM (Social Media Marketing)

Crowdsourcing

Distributed problem-solving and production model involving a large, undefined group.
Three Dominant Uses:
- Product development
- Initiatives and new business
- (Third use not specified in the provided text)

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

Description

This quiz covers the essentials of e-commerce, including its various types such as B2B, B2C, C2B, and C2C. Learn about key players, electronic data interchange, and the significance of intranets and extranets in conducting business online. Test your knowledge of electronic transactions and market segmentation.