Question

identify and explain 4 or 5 key learnings that are important for us and why in an e-commerce course.

thanks (explain in detail please)

Answer 1

E-commerce, also known as electronic commerce is the process of buying and selling of goods and services online, via internet, all over the globe. In todays digital era, e-commerce is more convenient, time saving, easy to update and comes with many more advantages and thus becomes an important way of doing business in the modern age. However, there are also concerns with this emerging technology.

There are different types of e-commerce, such as:

• Business to Consumer (B2C)
• Business to Business (B2B)
• Consumer to Business (C2B)
• Consumer to Consumer (C2C)
• Business to Administration (B2A)
• Consumer to Administration (C2A)

Some of the most important features of the e-commerce, which also makes them more attractive and profitable are as follows:

1. Global reach: Unlike traditional forms of businesses, e-commerce enables to reach consumers worldwide, without much additional effort. It is quite obvious that when a business has global reach, it would also enable to make a larger profit.
2. Usefulness: E-commerce has a unique advantage of converting the visitors of a particular into its customers. And the rate of converting the visitors into buyers is high in e-commmerce compared to the traditional business models.
3. Cost effecient: E-commerce helps in reducing the costs incurred to a great extend, as there is very less expenses made on marketing and advertisements.
4. 24*7 Availabilty: From customer point of view, this becomes one of the most important aspect of e-commerce. The customer service is available 24*7. Also, before placing the order, buyers can get the reviews about the product, which is completely absent in the traditional models.