E-commerce question and answer

UNIT I

Define E-Commerce?

Commerce is basically an economic activity involving trading or the buying and selling of goods.

For e.g. a customer enters a book shop, examines the books, select a book and pays for it.

Give any 2 example of E-Commerce

Online stores like Amazon, Flipkart, Shopify, Myntra, Ebay, Quikr, Olx are examples of E-commerce websites.

Define E-Business

E-Business is the conduct of business on the Internet, not only buying and selling but also servicing customers and collaborating with business partners”.

• E-Business means connecting critical business systems directly to customers, vendors and suppliers- via the Internet, Extranet and Intranets.

What is the CONCEPTS OF E COMMERCE

E-commerce (electronic commerce) is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet. These business transactions occur either as business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer or consumer-to-business

Write the advantage of E COMMERCE/what is the need of E COMMERCE

1.                  Faster buying process. Customers can spend less time shopping for what they want. ...

2.                  Store and product listing creation. ...

3.                  Cost reduction. ...

4.                  Affordable advertising and marketing. ...

5.                  Flexibility for customers. ...

6.                  Product and price comparison. ...

7.                  No reach limitations. ...

8.                  Faster response to buyer/market demands.

What are the goals of E-Business

1.                  Reach new markets.

2.                  Create new products or services.

3.                  Build customer loyalty

4.                  Make the best use of existing and emerging technologies.

5.                  Achieve market leadership and competitive

Write the advantage of E-Business .

1.                  E-Business Saves Money

2.                  Better Communication and Faster Decision-Making

3.                  The Office can be Anywhere

4.                  Cheaper Marketing, More Control

5.                  Less Restrictive Hours

6.                  E-Business Means Freedom

7.                  Global access

8.                  Consumer friendly

9.                  24-Hour Access

What are the Benefits of E-Commerce

E-Commerce is gaining popularity because it offers the following benefits.

Global Market

Lower Transaction Cost

Higher Margins

24X7 working

Wide Choice

Customer Convenience Direct Contact between Business and Consumer

Customer Satisfaction

What are the Challenges of e-commerce

1. Finding the right products to sell

2. Attracting the perfect customer

3. Generating targeted traffic

4. Capturing quality leads

5. Nurturing the ideal prospects

6. Converting shoppers into paying customers

7. Retaining customers

8. Achieving profitable long-term growth

9. Choosing the right technology & partners

10. Attracting and hiring the right people to make it all happen

Write the difference between E-COMMERCE VS TRADITIONAL COMMERCE

BASIS FOR COMPARISON	TRADITIONAL COMMERCE	E-COMMERCE
Processing of Transactions	Manual	Automatic
Accessibility	Limited Time	24×7×365
Physical inspection	Goods can be inspected physically before purchase.	Goods cannot be inspected physically before purchase.
Customer interaction	Face-to-face	Screen-to-face
Scope of business	Limited to particular area.	Worldwide reach
Information exchange	No uniform platform for exchange of information.	Provides a uniform platform for information exchange.
Resource focus	Supply side	Demand side
Business Relationship	Linear	End-to-end
Marketing	One way marketing	One-to-one marketing
Payment	Cash, cheque, credit card, etc.	Credit card, fund transfer etc.
Delivery of goods	Instantly	Takes time