9.4b - The Impact of Commerce on Functional Areas Flashcards
1
Q
What is the impact of E-commerce on marketing?
A
- Marketing strategy of differentiation is increasingly effective
- Retailers using omni-channel approach
- Localisation
2
Q
What is the impact of E-commerce on HRM?
A
- Need for employees to have a broader range of digital skills
- Workforce planning to support highly seasonal demand
- Concerns over working conditions of staff
3
Q
What is the impact of E-commerce on operations?
A
- Logistics behind large-scale E-commerce platforms are complex
- Economies of scale becoming increasing important
- Relatively easy for small firms to sell online
4
Q
What is the impact of E-commerce on finance?
A
- Significant investment
- Greater use of multi-currency transactions
5
Q
Long tail effect definition
A
When retailers find profits in selling low volumes of niche profits to niche markets
6
Q
What opportunity has E-commerce brought physical retailers?
A
They can provide a much wider range of products and services as they are not restricted by shelf space
7
Q
Dynamic pricing definition
A
A pricing strategy in which businesses set flexible prices for products based on current market demands
