List five advantages of e-commerce to customers.

1. Honest reviews of products 2. Easy to compare prices 3. Lots of product options 4. Quick delivery of products 5. Convenient to buy products.

What are the 4 P's of the marketing mix?

1. Product: What are you selling? 2. Price: What price are you selling it at? 3. Place: Where are you selling it? 4. Promotion: How are you going to advertise it?

What is B2B e-commerce?

Business to Business: Transactions between businesses.

What is B2C e-commerce?

Business to Consumer: Transactions between businesses and consumers.

What is C2C e-commerce?

Consumer to Consumer: Transactions between consumers.

What is the importance of customer reviews in e-commerce?

Customer reviews can lead to increased sales or inform companies about which products to discontinue.

What are some reasons consumers prefer buying online?

Convenience, variety of options, easy price comparison, and quick delivery.

What is the significance of lower barriers to entry in e-commerce?

Lower startup costs allow more businesses to enter the market without needing physical office space or large staff.

What is the role of technology in e-commerce?

Technology facilitates the buying and selling process, making it more efficient and accessible.

What are some challenges faced by traditional stores compared to e-commerce?

Higher overhead costs, limited reach, and less flexibility in operations.

What is the impact of e-commerce on traditional retail?

E-commerce has led to decreased sales for traditional retailers, forcing them to adapt or close.

What is the definition of 'Ubiquity' in e-commerce?

Ubiquity refers to the availability of e-commerce services 24/7 from anywhere in the world.

How does e-commerce provide global reach?

E-commerce allows businesses to advertise and sell to customers anywhere in the world.

What is the significance of flexible working hours in e-commerce?

It allows business owners to operate their businesses at times that suit them, enhancing work-life balance.

What are some examples of goods?

Examples include clothing, electronics, and food items.

What are some examples of services?

Examples include online tutoring, consulting, and digital marketing.

What is the role of promotion in the marketing mix?

Promotion involves advertising strategies to attract customers and increase sales.

What is the importance of pricing in the marketing mix?

Pricing must be competitive and cover costs while appealing to customers.

What is the significance of 'Place' in the marketing mix?

'Place' refers to the locations where products are sold, which should be convenient for customers.

What are some methods of promotion that can be used for e-commerce?

Methods include social media advertising, email marketing, and search engine optimization.

What are some methods of promotion to avoid?

Methods like newspapers or radio ads may not effectively reach the target audience for e-commerce.

What is the product life cycle?

The product life cycle describes the stages a product goes through from introduction to decline.

What is the significance of understanding the product life cycle for businesses?

It helps businesses strategize marketing and sales efforts at different stages of a product's life.

What is the impact of e-commerce on consumer behavior?

E-commerce has changed how consumers shop, making it more convenient and diverse.

What is the role of customer feedback in e-commerce?

Customer feedback helps businesses improve products and services based on consumer preferences.

What are some examples of e-commerce platforms?

Examples include Amazon, eBay, and Shopify.

What is the significance of having a unique product in e-commerce?

A unique product can differentiate a business from competitors and attract more customers.

What are some common challenges in e-commerce?

Challenges include competition, cybersecurity threats, and maintaining customer trust.

What is the importance of a user-friendly website in e-commerce?

A user-friendly website enhances customer experience and can lead to higher sales.

What is the role of logistics in e-commerce?

Logistics involves the management of the flow of goods from the seller to the customer.

What is the significance of mobile commerce?

Mobile commerce allows consumers to shop using their smartphones, increasing accessibility.

What are some trends in e-commerce?

Trends include personalization, subscription services, and the use of artificial intelligence.

What is the impact of social media on e-commerce?

Social media can drive traffic to e-commerce sites and enhance brand visibility.

What is the significance of data analytics in e-commerce?

Data analytics helps businesses understand consumer behavior and optimize marketing strategies.

What are some ethical considerations in e-commerce?

Ethical considerations include data privacy, fair pricing, and transparency in transactions.

What is the role of customer service in e-commerce?

Customer service is crucial for resolving issues and maintaining customer satisfaction.

What are some strategies for increasing e-commerce sales?

Strategies include offering discounts, improving website design, and enhancing customer service.

What is the significance of SEO in e-commerce?

SEO helps improve the visibility of e-commerce websites in search engine results.

What are some examples of payment methods in e-commerce?

Examples include credit cards, PayPal, and digital wallets.

What is the importance of security in e-commerce transactions?

Security is vital to protect customer information and build trust in the online shopping experience.

What are some common payment gateways used in e-commerce?

Common payment gateways include Stripe, PayPal, and Square.

What is the significance of return policies in e-commerce?

Clear return policies can enhance customer trust and satisfaction.

What are some ways to enhance customer loyalty in e-commerce?

Ways include loyalty programs, personalized marketing, and excellent customer service.

What is the impact of e-commerce on global trade?

E-commerce has facilitated easier access to international markets for businesses.

Features of E-commerce Flashcards

Student preview

127 questions

Show all answers

1.

FLASHCARD QUESTION

Front

What is e-commerce?

Back

E-commerce involves the buying and selling of goods and services through technology, specifically the internet.

2.

FLASHCARD QUESTION

Front

What is commerce?

Back

The exchange of goods and/or services between two or more people or businesses.

3.

FLASHCARD QUESTION

Front

What are goods?

Back

Goods are physical products that you can touch, use, and store.

4.

FLASHCARD QUESTION

Front

What are services?

Back

Services are intangible actions that you cannot touch or store.

5.

FLASHCARD QUESTION

Front

What are the three most popular sectors for e-commerce?

Back

1. Financial services (online banking, currency exchange) 2. Gaming (paying for online gaming services) 3. Retailing (selling goods and services directly to consumers).

6.

FLASHCARD QUESTION

Front

What are the key features of e-commerce?

Back

1. Ubiquity: Accessible 24/7 from anywhere. 2. Global reach: Can sell to customers worldwide. 3. Customer reviews: Influence sales and product decisions. 4. Fewer barriers to entry: Lower startup costs.

7.

FLASHCARD QUESTION

Front

List five advantages of e-commerce to businesses.

Back

1. Easy to set up 2. Lowered costs 3. Flexible working hours/locations 4. Increased income 5. Convenient to run.

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