E-Commerce Overview
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E-Commerce Overview

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Questions and Answers

What is a primary advantage of e-commerce regarding market reach?

  • Lower costs
  • Tactile experience
  • Need for personal contact
  • Larger market (correct)

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

  • Quick response to consumer trends
  • Lack of personal contact (correct)
  • Increased sales
  • Personalized messaging

    • Which feature uniquely allows e-commerce transactions to occur anywhere and anytime?

  • Universal Reach
  • Omnipresence (correct)
  • Electronic operations
  • Electronic business

    • What is a significant risk associated with e-commerce?

    <p>Credit card fraud</p> Signup and view all the answers

    Which factor does NOT contribute to the complexity of e-commerce?

    <p>Customer accessibility</p> Signup and view all the answers

    How does e-commerce streamline business operations?

    <p>Coordinates sales efforts</p> Signup and view all the answers

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

    <p>The online trading environment</p> Signup and view all the answers

    Which of the following is NOT considered a feature of e-commerce technology?

    <p>Personalized customer interaction</p> Signup and view all the answers

    Which factor should NOT be prioritized when deciding on an e-commerce platform?

    <p>Current market trends</p> Signup and view all the answers

    What is an important consideration when choosing a domain name for an e-commerce site?

    <p>Make it short and avoid generic names</p> Signup and view all the answers

    Which of the following options is NOT a part of setting up payment options in an e-commerce store?

    <p>Payment methods for cryptocurrency</p> Signup and view all the answers

    When customizing a merchant e-commerce template, which aspect is least relevant to customer experience?

    <p>Backend server specifications</p> Signup and view all the answers

    Which step should be emphasized before launching an online store?

    <p>Ensuring all checkout features function correctly</p> Signup and view all the answers

    What is meant by 'marketspace' in the context of technology?

    <p>A digital environment allowing global consumer-business interactions</p> Signup and view all the answers

    What is one of the key advantages of interoperability in marketspace?

    <p>Consumer engagement through collaborative processes</p> Signup and view all the answers

    Which element enhances the cost-effectiveness of information in the marketspace?

    <p>Intense reduction in information processing costs</p> Signup and view all the answers

    What type of marketing messages can be delivered through the technology in marketspace?

    <p>Unified audio-visual-text marketing messages</p> Signup and view all the answers

    Which model of e-commerce focuses primarily on a merchant selling products to consumers?

    <p>Business-to-Consumer (B2C)</p> Signup and view all the answers

    How does the customization feature of marketspace benefit marketing messages?

    <p>It creates personalized messages for individuals or groups.</p> Signup and view all the answers

    Which field is NOT included in the interdisciplinary landscape of e-commerce?

    <p>Fashion Design</p> Signup and view all the answers

    What is a characteristic of worldwide standards in marketspace?

    <p>Uniformity in technical media values globally</p> Signup and view all the answers

    Which of the following platforms is primarily known for drop shipping?

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

    What is the primary focus of consumer-to-business (C2B) e-commerce?

    <p>Providing a platform for freelancers to offer services to businesses</p> Signup and view all the answers

    Which of the following is NOT a step in starting an e-commerce business?

    <p>Invest in stock exchange markets</p> Signup and view all the answers

    Which of the following describes the business-to-employee (B2E) model best?

    <p>A model focused on employee benefits and reporting</p> Signup and view all the answers

    Which e-commerce platform is best known for supporting a direct-to-consumer (D2C) approach?

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

    Which of the following is a common expenditure when starting an e-commerce business?

    <p>Licenses and permits</p> Signup and view all the answers

    Which of the following options is an example of consumer-to-consumer (C2C) e-commerce?

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

    What is NOT part of the fundamental activities and functions in promoting an e-commerce business?

    <p>Investor relations</p> Signup and view all the answers

    What is a major disadvantage of using a paper system in order processing?

    <p>Longer shipping time due to manual handling</p> Signup and view all the answers

    Which component is essential for the EDI process to be completed quickly?

    <p>Automated EDI documents preparation</p> Signup and view all the answers

    What is a benefit of using EDI in sales order processing?

    <p>More accuracy and fewer errors</p> Signup and view all the answers

    What action does the seller's ERP system take after the invoice is printed?

    <p>Generates an EDI invoice</p> Signup and view all the answers

    Which of the following is NOT a benefit of EDI?

    <p>Increased manual data entry errors</p> Signup and view all the answers

    What is part of the EDI implementation process?

    <p>Infrastructure setup</p> Signup and view all the answers

    How does EDI impact environmental considerations?

    <p>Reduces the need for physical documents</p> Signup and view all the answers

    What contributes to better relationships through EDI?

    <p>Timely and accurate order processing</p> Signup and view all the answers

    Study Notes

    E-Commerce Overview

    • E-commerce, or electronic commerce, involves trading goods and services online, facilitated by the internet.
    • It encompasses the buying and selling of physical and digital goods and services.

    Advantages of E-Commerce

    • Offers a larger market reach for businesses and consumers.
    • Enables customer data analytics through tracking and analysis.
    • Allows for quick adaptation to consumer trends and market demands.
    • Typically has lower operational costs compared to traditional commerce.
    • Provides personalized messaging and customer engagement.
    • Increases sales potential and satisfaction with immediate transactions.
    • Offers unlimited virtual "shelf space" for products.

    Disadvantages of E-Commerce

    • Lack of personal interaction between buyers and sellers.
    • Absence of tactile experience when assessing products.
    • Easy product and price comparisons can create competitive pressure.
    • Internet access is essential for participation.
    • Risks include credit card fraud and IT security issues.
    • Regulatory complexity regarding taxes and compliance.

    E-Commerce Technology Features

    • Data interchange facilitates information flow.
    • Electronic business operations streamline processes and reports.
    • Improves responsiveness and client coordination.
    • Enhances convenience and enables planning of virtual meetings.

    Exclusive Features of E-Commerce

    • Omnipresence: Shopping can occur anywhere via mobile devices, transcending traditional boundaries.
    • Universal Reach: Facilitates commerce across national and cultural borders.
    • Worldwide Standards: Maintains uniform technical values globally.
    • Interoperability: Customers engage actively in the buying process.
    • Cost Reduction: Lowers information processing and communication expenses.
    • Manifestation: Marketing messages can be personalized for consumers.

    Interdisciplinary Landscape

    • Combines elements of marketing, computer science, consumer behavior, finance, economics, management, law, and ethics.

    E-Commerce Models

    • B2B (Business-to-Business): Companies like Alibaba and Amazon facilitating transactions between businesses.
    • B2C (Business-to-Consumer): Retail giants like Amazon and Walmart selling directly to consumers.
    • C2C (Consumer-to-Consumer): Platforms like eBay and Etsy for consumer transactions.
    • B2E (Business-to-Employee): Examples include internal employee benefit systems and corporate job postings.
    • C2B (Consumer-to-Business): Freelance services offered by individuals on platforms like Upwork.

    Steps to Start an E-Commerce Business

    • Research e-commerce models to determine product offering.
    • Draft a comprehensive business plan and choose a business name.
    • Register the business and develop an e-commerce website.
    • Source or create products/services, then launch and market the venture.

    Delivery Methods in E-Commerce

    • Direct-to-Consumer (D2C): Brands selling directly to the end user.
    • Drop Shipping: Retail fulfillment where a store doesn't keep the products it sells in stock.
    • Bulk Purchases: Buying large quantities for wholesale distribution.
    • Subscription Services: Regular delivery of products or services for a recurring fee.

    E-Commerce Promotion Strategies

    • Conduct SWOT analysis to identify strengths, weaknesses, opportunities, and threats.
    • Consider costs for licenses, e-commerce platforms, and product inventory in the startup phase.

    EDI (Electronic Data Interchange) Overview

    • Facilitates faster and more accurate processing of business transactions.
    • Involves preparing documents, translating them into EDI format, and sharing with partners.
    • Benefits of EDI include reduced costs, strategic advantages, and environmental benefits.

    Digital Innovations in E-Commerce

    • Focus on convergence in content and information delivery.
    • Emphasizes multimedia content and electronic payment systems.
    • Utilize multimedia applications and efficient information delivery systems.

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    Quiz Team

    Description

    This quiz covers the basics of e-commerce, including its definition, advantages, and disadvantages. Explore how the internet revolutionizes buying and selling goods and services online. Test your understanding of e-commerce concepts and their impact on the market.

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