Question

11. Two B2C e-commerce companies agree to direct viewers from one site to the other. What do you call this method of marketing?
12. What does the conversion rate measure?
13. What is a financial cybermediary?
14. What do you call a plastic card the size of a credit card that contains an embedded chip on which digital information can be stored and updated?
These questions are from business course

Answer 1

Answer11.

iThe iterm ibusiness-to-consumer i(B2C) irefers ito ithe iprocess iof iselling iproducts iand iservices idirectly ibetween ia ibusiness iand iconsumers iwho iare ithe iend-users iof iits iproducts ior iservices. iMost icompanies ithat isell idirectly ito iconsumers ican ibe ireferred ito ias iB2C icompanies.

1. iBusiness-to-consumer irefers ito ithe iprocess iof ibusinesses iselling iproducts iand iservices idirectly ito iconsumers, iwith ino imiddleman.

2. iB2C iis itypically iused ito irefer ito ionline iretailers iwho isell iproducts iand iservices ito iconsumers ithrough ithe iInternet.

3. iOnline iB2C ibecame ia ithreat ito itraditional iretailers, iwho iprofited ifrom iadding ia imarkup ito ithe iprice.

4. iHowever, icompanies ilike iAmazon, ieBay, iand iPriceline ihave ithrived, iultimately ibecoming iindustry idisruptors.

Once iyou’ve iidentified iyour itarget icustomers, ihave ia ithink iabout ithe i‘4 iPs’ iof imarketing:

1. Product

The itype iof iproducts iyou ichoose ito isell iwill iaffect iwho iyou iappeal ito: i

a. Are iyou igoing ito ifocus ion iorganic ior ilocally igrown ifood, ior iis ithis inot iparticularly iimportant ifor iyou ior iyour icustomers? i

b. Are iyou igoing ito isell ifruit iand ivegetables? iExotic iproduce? iHard-to-find iingredients ithat iyour icustomers iare istruggling ito ibuy ielsewhere? i

c. Are iyou igoing ito isell iyour iproducts iby iweight, iso ithat icustomers ican ibuy ias imuch ior ias ilittle ias ithey iwant? i

2. Price

A iproduct iis ionly iworth iwhat ia icustomer iis iprepared ito ipay ifor iit. iYou idon't inecessarily ihave ito isell ithe icheapest ifood iin ithe iarea, ibut ithe iprice idoes ineed ito ibe icompetitive. iIn imost icases ifood ico-ops iare iset iup ito itry ito iprovide ifood iat ia imore iaffordable iprice ithan iother ilocal ioutlets, iso imany iset itheir iprices iby imaking isure ithey iare ilower ithan ithe ilocal isupermarket. iHowever, iit iis ialso ivery iimportant ito imake isure iyou iare icovering iall iyour icosts. iWork iout iyour iprices icarefully iby icalculating iyour icosts ifirst i(for iexample irent, ibags, ipetrol, iand ibuying ifood). iSome ifood ico-ops iadd ilittle ior ino imark-up ito ithe icost iprice ito imake itheir iproducts ias icheap ias ipossible.

3. Place

To ireach ias imany icustomers ias ipossible ithe ipremises iwhere iyou isell iyour igoods imust ibe iappropriate iand iconvenient ifor iyour itarget igroup. iFor iexample, iif iyou iare itrying ito iappeal ito iolder ipeople iit imay ibe ieasier ito ideliver ibags ior irun ia istall iat ia isheltered ihousing ischeme, iwhereas iif iyou iare itrying ito itarget ifamilies iit imay ibe imore iconvenient ito ihave ia istall ior idrop-off ipoint iat ia ischool ior ichildren's icentre i(see ithe iPremises isection ifor imore iinformation).

4. Promotion

You ican ipromote iyour ifood ico-op iin ilots iof idifferent iways. iYou icould iproduce ileaflets iand iposters, isend iout ipress ireleases, iset iup ia iwebsite, ihave ia ibig ilaunch ievent, ior irun ia ispecial iintroductory ioffer. i

It iis ia igood iidea ito iuse ia icombination iof ipromotional imethods ito ireach ias imany ipeople ias ipossible, ibut ido ibear iin imind ithat ipromotion ican ibe iboth itime-consuming iand icostly. iBefore iyou igo iahead iand iprint ithousands iof ileaflets, ithink iabout iwhat iwill ibe ithe imost ieffective iuse iof iyour itime iand imoney. iTry ito ithink iof iways ito iget ifree ipublicity, ifor iexample:

a. Write ia ishort inews iitem ior ifeature iand isend iit ito ithe ieditor iof ithe ilocal inewspaper ior icommunity inewsletter i- imake isure iyou ihighlight iwhat imakes iyour ico-op ispecial

b. Post iabout iyour ifood ico-op ion ilocal imessage iboards iand iforums

c. Pubs, icafes iand isupermarkets ioften ihave ia iboard iwhere ilocal iservices ican ibe iadvertised

d. Social imedia, ilike iTwitter, iInstagram iand iFacebook, ican ibe iincredibly iuseful itools

Answer i12.

To iput iit isimply, iyour iconversion irate iis ithe ipercentage iof ivisitors ito iyour iwebsite ior ilanding ipage ithat iconvert i(aka, ido iwhat iyou iwant ithem ito ido). iDepending ion iyour ibusiness igoals, ia i“conversion” icould ibe ialmost ianything, ibut ihere iare ia ifew icommon itypes iof iconversions:

1. Making ia ipurchase

2. Submitting ia iform i(contact ius iform, ilead igen iform, ietc.)

3. Calling iyour ibusiness

4. Engaging iwith iyour ionline ichat

5. Signing iup ifor ia isubscription i(either ipaid ior ifree—like ia inewsletter)

6. Registering ion ithe isite

7. Downloading isomething i(software itrial, ieBook, imobile iapp, ietc.)

8. Using isomething i(new/advanced ifeature ion iyour isoftware ior iapp, isimply iusing iyour isoftware/app ifor ia icertain iamount iof itime)

9. Upgrading itheir iservice

10. Engaging iwith iyour isite iin isome iway i(time ion isite, irepeat ivisits, inumber iof ipages ivisited

There iare iplenty iof iother iconversion iactions ipeople ican itake ion ia isite, ibut ithis ishould igive iyou ia ifeel ifor iwhat ia i“conversion” iis. iBasically, ia iconversion iis ia imeasurable iaction ithat iprogresses ia ipotential icustomer itowards ibecoming ia ipaying icustomer iin ian iimportant iway.

Calculating iconversion iis iactually ifairly ieasy. iAll iyou ihave ito ido iis idivide ithe inumber iof iconversions iyou iget iin ia igiven itime iframe iby ithe itotal inumber iof ipeople iwho ivisited iyour isite ior ilanding ipage iand imultiply iit iby i100%.

Conversion irate i= i(conversions i/ itotal ivisitors) i* i100%

For ie.g., iif iyour isite ihad i17,492 ivisitors iand i2,305 iconversions ilast imonth, iyour iconversion irate iis i13.18%. iEasy ienough, iright? iIn ifact, iif iyou iset iup iyour itracking iright, imost ionline iadvertising i(eg, iGoogle iAds, iFacebook iAds) iand ianalytics iplatforms i(e.g., iGoogle iAnalytics) ican iactually ishow iyou iyour iconversion irate iright iin itheir iinterface.

One iof ithe igreat ithings iabout iconversion irate iis ithat iyou ican ibe ias ispecific ior ias ibroad iwith iyour iconversion irate ias iyou iwant ito ibe. iHere iare ia ifew idifferent itypes iof iconversion irate iyou ican iuse iand iways iyou ican iuse ithis idata ito iexamine iperformance:

a. Overall iconversion irate i

b. Marketing ichannel iconversion irate i

c. Page-level iconversion irate i

d. Campaign iconversion irate i

e. Individual iad iconversion irate i

f. Keyword iconversion irate

Answer13.

A iPerson ior ifirm ithat ifacilitates ideals ior itransactions ion ithe iinternet, ias ia ibroker ior itrusted iintermediary.

A ifinancial icybermediary iis ian iinternet ibased icompany ithat imakes iit ieasy ito itransfer imoney ifrom ione iperson ito ianother.

Answer i14.

Smart icards iare iplastic icards iof ithe isize iof ia icredit icard ithat icontains ian iembedded ichip ion iwhich idigital iinformation ican ibe istored. iA ismart icard, ichip icard, ior iintegrated icircuit icard i(ICC) iis ia iphysical ielectronic iauthorization idevice, iused ito icontrol iaccess ito ia iresource.