8 Questions
What is a key difference between the online consumer behavior model and the traditional model?
The ability to compare products and read reviews
What is unique about an e-commerce business plan compared to a traditional business plan?
The inclusion of online sales channels
What is the business model element that outlines the unique value of a product or service?
Value proposition
How can e-commerce technologies improve a firm's value web?
By streamlining communication and transactions
What is an advantage of e-commerce in terms of competition?
Reduced overhead expenses
What is a factor that influences online consumer behavior?
Website usability
What is a benefit of online consumer behavior?
Greater convenience and often with more information
What is a result of using e-commerce platforms?
Faster order processing
Study Notes
Online Consumer Behavior
- Online consumer behavior includes additional stages such as search, evaluation, and transaction in a digital environment
- Influenced by website usability, online reviews, and digital marketing
- Allows for easy comparison of products, reading reviews, and making purchases with greater convenience and often with more information
E-commerce Business Plan
- Includes specific strategies related to online sales channels, digital marketing, website development, and online customer service
- Differs from traditional business plans which focus on physical storefronts and traditional marketing methods
Value Proposition
- Specifies how the company's product will fulfill the needs of its customers
- Outlines the unique value the product or service offers to customers and why they should choose it over alternatives
E-commerce Technologies and Value Web
- Can improve a firm's value web by streamlining communication and transactions with suppliers, distributors, and customers
- Facilitates faster order processing, inventory management, and customer feedback collection, leading to more efficient operations and improved customer satisfaction
E-commerce and Cost Competition
- Enables competition based on cost by reducing overhead expenses associated with physical stores, such as rent, utilities, and staffing
- Allows ecommerce businesses to offer competitive prices to customers while maintaining profitability
On-Demand Services Company
- Provides immediate access to products or services through digital platforms
- Allows customers to request and receive services quickly and conveniently
- Examples include ride-sharing apps, food delivery services, and on-demand streaming platforms
This quiz compares the model of online consumer behavior with the traditional model, highlighting the differences in stages, influencing factors, and consumer experiences. Test your understanding of online consumer behavior and its unique aspects.
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