types of e-commerce
what is B2C?
give an example
Business to consumer
Amazon or any other company that is B2C
what effect does it have on Place?
Online retailers have relatively simple decisions to make regarding the distribution of their products. Services can be downloaded or streamed while products must be delivered to their customer. An efficient delivery system can be a valuable unique selling point for a company. Many online supermarkets allow customers to select a delivery slot within an hour of an appointed time.
what is the benefit to customer?
E-commerce stores are open 24 hours a day, shopping can be done from any location, customers do not have to travel to buy the goods and services they need, price comparison websites make it easier to find the best value retailer, online review can be used to assess quality.
what is e-commerce?
E-commerce is the buying and selling of goods and services online.
what is C2C?
give an example
consumer to consumer
Ebay
what effect does it have on promotion?
Promotion refers to the process that you choose to tell the customer about your product. There are many different channels of marketing such as email, social media, search engine, content, targeted etc. By analysing consumers' search history and social media profiles, they can build up detailed target market profiles. Advertisements and direct marketing messages can then be targeted at the specific group of people who are most likely to buy a good or service.
what is the benefit to firms?
Global markets can lead to huge sales revenues, fixed costs are low, price discrimination can lead to increasing spend per customer, websites and branding can be quickly and relatively inexpensively updates, and global usage of the internet is expanding which increases opportunities for future growth.
future of e-commerce
E-commerce is gradually becoming the preferred way of shopping for people with access to the Internet. It allows us to compare prices online without the hassle of going from store to store.
The advancement of technology has made e-commerce possible. E-commerce also allows customers to buy products from other countries without having to visit.
what is B2B?
give an example
Business to business
GE or any B2B company
what effect does it have on price?
Price is one of the most important factors that influences a customer's purchase decision. The internet has made it easier for consumers to compare prices. In industries with many close substitutes, this has forced prices down. There are dozens of websites that allow customers to compare the prices of services such as insurance, flights and car hire.
what is the limitation to consumers?
they are not able to feel and try the product as well as possibility of fraud
what effect does it have on product?
Before the digital revolution, customers had the privilege to touch and feel the product that they were planning to buy. In the case of products sold over the internet, it is very difficult to understand about the product without physically seeing it.
what is the limitation to firms?
billions of consumers are not online as well as hard to build brand loyalty