Commerce

What is the primary goal of commerce?

• Facilitate the exchange of goods and services

• Create barriers to trade

• Minimize customer satisfaction

• Maximize profits at all costs

Define the term 'supply chain'.

• A marketing strategy that focuses on promoting a product through various channels to reach the target audience

• A financial plan outlining the costs and revenues associated with a specific business operation

• A system for managing the flow of goods and services involving the movement and storage of raw materials, work-in-process inventory, and finished goods from point of origin to point of consumption

• A network between a company and its suppliers to produce and distribute a specific product to the final buyer.

Explain the concept of 'e-commerce'.

• E-commerce refers to the process of sending physical mail to conduct business transactions.

• E-commerce involves the use of telegrams to conduct business transactions.

• E-commerce is the process of conducting business online, including activities such as online shopping, electronic payments, and digital marketing.

• E-commerce is the process of conducting business in person, excluding any online activities.

What is the difference between B2B and B2C commerce?

• B2B commerce is between businesses, B2C commerce is between a business and individual consumers.

• B2B commerce involves physical products, B2C commerce involves digital products.

• B2B commerce is more expensive than B2C commerce.

• B2B commerce is between individuals, B2C commerce is between businesses.

Discuss the importance of marketing in commerce.

• Marketing plays a vital role in creating awareness, generating demand, and building brand loyalty in the competitive business landscape.

• Marketing is irrelevant in commerce

• Marketing has no impact on brand loyalty

• Marketing is only necessary for non-competitive businesses

What role does finance play in the field of commerce?

• Finance only deals with personal savings

• Finance helps in managing funds, analyzing investments, facilitating transactions, and providing financial insights for decision-making.

• Finance has no impact on commerce

• Finance is only relevant in the field of accounting

How does globalization impact commerce?

• Globalization creates more barriers to entry for businesses

• Globalization impacts commerce by increasing international trade, allowing businesses to access new markets, reducing barriers to entry, and promoting the exchange of goods and services across borders.

• Globalization leads to the decrease in international trade

• Globalization has no impact on commerce

What are the key components of a business plan in commerce?

• Company vision, Employee handbook, SWOT analysis, Customer testimonials

• Sales pitch, Competitor analysis, Employee benefits, Customer feedback

• Executive summary, Company description, Market analysis, Organization and management, Product line or service, Marketing and sales, Funding request, Financial projections, Appendix

• Legal documents, Employee training manual, Social media strategy, Customer complaints

Describe the concept of 'market segmentation'.

• Market segmentation involves dividing a market into distinct groups based on various factors such as demographics, psychographics, behavior, or geography.

• Market segmentation involves targeting only one specific group of customers.

• Market segmentation is irrelevant in today's globalized market.

• Market segmentation is the process of combining all market segments into one large group.

How does technology influence modern commerce?

• Technology only complicates modern commerce

• Modern commerce is solely based on traditional methods

• Technology influences modern commerce through online transactions, digital marketing, data analytics, process automation, and global e-commerce platforms.

• Technology has no impact on modern commerce