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E-commerce & Web Services > E-commerce 101 > Flashcards

E-commerce 101 Flashcards

1
Q

What is e-commerce?

A

The buying and selling of goods and services electronically over the Internet.

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2
Q

What are the different types of e-commerce?

A

B2B (Business-to-Business): Businesses selling goods and services to other businesses (e.g., wholesale suppliers).
B2C (Business-to-Consumer): Businesses selling goods and services directly to consumers (e.g., online retailers).
C2C (Consumer-to-Consumer): Consumers selling goods and services directly to other consumers (e.g., online marketplaces like eBay).
B2B2C (Business-to-Business-to-Consumer): A business model where one business facilitates the sale of another business’s products or services to consumers (e.g., online travel agencies selling hotel stays).

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3
Q

What is an e-commerce marketplace?

A

An online platform where multiple sellers can list and sell their products (e.g., Amazon, Etsy, eBay).

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4
Q

What is an online storefront?

A

A website where a business directly sells its products or services to customers.

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5
Q

What are some of the benefits of e-commerce for businesses?

A

Wider customer reach
Lower overhead costs
24/7 operations
Data-driven insights

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6
Q

What are some benefits of e-commerce for consumers?

A

Convenience and time-saving
Broader product selection
Price comparisons
Ability to shop from anywhere

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7
Q

What is a shopping cart?

A

Software on an e-commerce site that allows customers to select and accumulate items before purchasing.

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8
Q

What is a payment gateway?

A

A secure service that processes online payments, handling credit card information and transactions.

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9
Q

What is the role of shipping and logistics in e-commerce?

A

Shipping and logistics ensure the physical delivery of products from the seller to the buyer.

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10
Q

What is search engine optimization (SEO)?

A

The practice of optimizing website content to rank higher in search engine results, increasing visibility.

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11
Q

What is email marketing?

A

A form of direct marketing using email to promote products, send offers, and retain customers.

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12
Q

What does customer service look like in e-commerce?

A

Includes live chat, email support, FAQs, help centers, and social media engagement.

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13
Q

Why is website design crucial in e-commerce?

A

A well-designed website builds trust, provides good user experience (UX), and drives sales.

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14
Q

What is the importance of product descriptions and images?

A

High-quality descriptions and images inform customers and influence buying decisions.

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15
Q

What role does social media play in e-commerce?

A

Increases brand awareness, drives traffic to the website, and facilitates customer interactions.

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16
Q

Why are online reviews and ratings important?

A

They build social proof, influence purchase decisions, and provide feedback for improvement.

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17
Q

Why are security measures essential for e-commerce?

A

To protect customer data from breaches, ensure secure online transactions, and maintain customer trust.

Security measures include:
SSL certificates for encrypting data transmission
Secure payment gateways to handle sensitive financial information
Firewalls to prevent unauthorized access to website and servers
Data protection policies outlining how customer data is collected, stored, and used

18
Q

How is data analytics used in e-commerce?

A

To understand customer behavior, personalize marketing, and optimize sales strategies.

19
Q

What are some emerging trends in e-commerce?

A

Mobile commerce, social commerce, subscription models, personalization.

20
Q

What is dropshipping?

A

An e-commerce model where the seller doesn’t stock inventory but partners with a supplier who ships directly to the customer.

21
Q

What are some popular e-commerce platforms?

A

Shopify, Magento, WooCommerce, BigCommerce, OSCommerce, Wix, Squarespace.

22
Q

What is omnichannel e-commerce?

A

The integration of different sales channels (online store, social media, brick-and-mortar store) to create a seamless customer experience.

23
Q

What is a conversion rate?

A

The percentage of website visitors who complete a desired action (e.g., purchase, signup).

24
Q

What are some ways to improve e-commerce conversion rates?

A

Clear call-to-actions (e.g., “Buy Now”)
Easy website navigation
Fast loading speeds
Optimized checkout process
Use of high-quality product images and videos

25
Q

What is an abandoned cart?

A

When a customer adds items to their shopping cart but leaves the website without purchasing.

26
Q

What are some strategies for recovering abandoned carts?

A

Send abandoned cart reminder emails
Offer discounts or incentives
Retargeting ads to remind customers about their abandoned items

27
Q

What is A/B testing in e-commerce?

A

Testing two versions of a webpage or campaign to see which performs better with customers.

28
Q

What is the difference between marketing and advertising for e-commerce?

A

Marketing: the broader, strategic process of building relationships with customers throughout their journey.

Advertising: a paid component of marketing focusing on getting your message to a specific audience.

29
Q

What is social commerce?

A

Using social media platforms to directly sell products (e.g., shoppable posts on Instagram, Facebook Shops).

30
Q

What is influencer marketing?

A

Partnering with influencers (people with strong online followings) to promote products or services.

31
Q

What is affiliate marketing?

A

Paying affiliates (bloggers, websites, etc.) a commission when they promote products and generate sales.

32
Q

What is customer acquisition cost (CAC)?

A

The average cost of acquiring a new paying customer.

33
Q

What is customer lifetime value (CLV)?

A

The total amount of money a customer is expected to spend on a business throughout their relationship.

34
Q

Why is customer retention important for e-commerce?

A

It is often more cost-effective to retain existing customers than to acquire new ones.

35
Q

What are some customer retention strategies for e-commerce?

A

Loyalty programs, personalized offers, excellent customer support, and email marketing campaigns.

36
Q

What is the churn rate?

A

The percentage of customers who stop doing business with a company over a period of time.

37
Q

What are KPIs for e-commerce?

A

Key Performance Indicators: Metrics like traffic, conversion rate, average order value, and cart abandonment rate that measure the success of an e-commerce business.

38
Q

What is cross-selling?

A

Recommending complementary products to a customer during their purchase journey. (e.g., “Customers also bought…”)

39
Q

What is upselling?

A

Encouraging a customer to buy a more expensive or upgraded version of a product.

40
Q

What are some post-purchase strategies in e-commerce?

A

Send thank you emails
Request product reviews
Offer additional product recommendations
Provide excellent customer support after the sale

E-commerce & Web Services (1 decks)

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