4.8 E-commerce

Question 1

E-commerce

Answer 1

the trading of goods and services via the internet, electronic systems and computer networks.

Question 2

What are the common features of e-commerce?

Answer 2

global reach
24/7 accessibility 
access to information 
consumer reviews
impersonal interaction
barrier to entry

Question 3

What are the different types of e-commerce?

Answer 3

B2C
C2C
B2B

Question 4

Business to consumer (B2C)

Answer 4

e-commerce directly catered for the end-user, i.e. the consumer.

Question 5

Consumer to consumer (C2C)

Answer 5

an e-commerce platform that enables customers to trade with each other.
eBay

Question 6

Business to business (B2B)

Answer 6

e-commerce catered for the needs of other businesses.

Question 7

What are the benefits of e-commerce?

Answer 7

provides another source of revenue
another channel of distribution 
greater flexibility 
reduced packaging
reduced overheads
reduced operating costs
more choice and convenience for customers

Question 8

What are the costs of e-commerce?

Answer 8

set-up costs are high
credit card companies impose finance charges
fraudulent trade takes place
spam and unethical marketing opportunities
unsuitable for some businesses and customers
reliant on technology that is not necessarily available to all businesses and countries
internet is prone to hackers and breakdowns
job losses