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Questions and Answers
What is one of the benefits of e-commerce platforms?
Which type of e-commerce involves transactions between individual consumers?
What is a benefit of data analytics in e-commerce?
What is the primary concern of advanced security measures in e-commerce?
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What type of e-commerce involves businesses selling products or services to individual consumers?
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What is an example of Consumer-to-Business (C2B) e-commerce?
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What is the primary focus of e-commerce?
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Which of the following is NOT a primary technological building block of e-commerce?
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What is the term for using social media for sales?
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What is a benefit of e-commerce in terms of cost?
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What is a unique feature of e-commerce technology?
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What is the term for integrating offline and online channels?
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What is the term for online stores being accessible round the clock?
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What is the term for technology that enables personalized recommendations and targeted advertising?
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Study Notes
E-commerce Definition and Types
- E-commerce refers to the buying and selling of goods and services over the internet
- Involves online transactions between businesses (B2B), businesses and consumers (B2C), consumers (C2C), and governments (B2G)
E-commerce vs E-business
- E-business is a broader range of online activities, including e-commerce
- E-business also involves electronic interactions within organizations, such as online collaboration, electronic data interchange (EDI), and digital supply chain management
Technological Building Blocks of E-commerce
- Internet technologies: websites, web hosting, domain names
- Online payment systems: credit cards, digital wallets, PayPal
- Security protocols: SSL/TLS encryption, cybersecurity measures
- Mobile technologies: apps, responsive design
- Data analytics tools: customer behavior analysis, personalized marketing
Current Themes in E-commerce
- Mobile commerce (m-commerce)
- Social commerce: using social media for sales
- Omnichannel presence: integrating offline and online channels
- Personalized customer experiences: recommendation engines, targeted marketing
- AI and Machine Learning in e-commerce: chatbots, predictive analytics
- Blockchain technology for secure transactions
Features of E-commerce Technology
Global Reach
- Allows businesses to reach global markets without physical stores
24/7 Availability
- Online stores are accessible round the clock, enabling customers to shop at their convenience
Personalization
- Technology enables personalized recommendations, targeted advertising, and customized shopping experiences based on customer data
Cost Efficiency
- E-commerce reduces costs related to physical stores, inventory management, and distribution
Data Analytics
- Businesses can gather and analyze vast amounts of data to understand customer behavior, market trends, and optimize their strategies
Interactivity
- Features like live chat support, reviews, and social media integration enhance customer engagement
Scalability
- E-commerce platforms can scale up to handle increased traffic and transactions during peak periods
Security
- Advanced security measures protect customer data and transactions, fostering trust and confidence
Types of E-commerce
- Business-to-Business (B2B): transactions between businesses
- Business-to-Consumer (B2C): transactions between businesses and individual consumers
- Consumer-to-Consumer (C2C): transactions between individual consumers, often facilitated by online marketplaces or auction platforms
- Consumer-to-Business (C2B): occurs when consumers sell products or services to businesses
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Description
Learn about the differences between e-commerce and e-business, including online transactions and electronic interactions within organizations.
