Basic Info
What does the E in E-commerce stand for?
electronic
Which feature is this? "available 24/7 in any location"
access
Name two examples of products being affected by e-commerce.
maps --> google maps
CD's --> Spotify, apple music, etc.
Newspaper --> online
What are the three types of e-commerce?
- business to customer (B2C)
- business to business (B2B)
- customer to customer (C2C)
Name three advantage that consumers have with online shopping
open 24/7, can be done from any location, price comparison is easier, online reviews, can immediately stream or download products
Define commerce.
the activity of buying and selling
Which feature is this? "the internet transcends national boundaries"
Global reach
How is promotion affected by e-commerce?
- social media
- google ads
Name two advantages for a firm to sell products online.
higher sales revenue due to global markets, low fixed costs, targeted marketing, price discrimination, quick websites, expanding internet, opportunities for growth
Name three disadvantages for a consumer who is online shopping.
have to wait for the physical goods, not everyone is skilled with technology, lack of internet or tech, online fraud, don't want to share private information
Name two products that cannot be bought online.
Alcohol, drugs, prescription medicine, animals, and in the US, guns
Which feature is this? "messages can be personalized"
customisation
How is the place affected by e-commerce?
online shopping vs a physical shop
shipping
Name two disadvantages for a firm to sell products online.
customers may not be online yet, limited opportunity due to a lack of debit/credit card, internet fear, cannot try/touch items, the return process is long and expensive, specialized staff, high level of competition, brand loyalty is difficult, high unemployment
Name one underrepresented group regarding e-commerce
older generations
Which feature is this? "combines audio, video, and text to deliver a message"
Integration
How does e-commerce affect price?
Websites and stores can use cookies to easily raise or lower the price based on customer information.
eg. price discrimination
Price comparison
Name two advantages (for a firm) regarding the price of products online
- fixed costs are low
- price discrimination can lead to an increased spending by customers
Name two disadvantages (for a firm) regarding technological skills.
technological structures such as websites and cloud services needed, fear of the internet, specialised workers, lack of debit/credit card