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What is the primary role of E-commerce in the wholesale sector?
- a)Increasing production efficiency
- b)Reducing transportation costs
- c)Providing marketing services
- d)Lowering operating costs
Correct answer is option 'D'. Can you explain this answer?
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What is the primary role of E-commerce in the wholesale sector?a)Incre...
E-commerce in the wholesale sector aims to lower operating costs by utilizing advanced information technology. This includes reducing the need for physical presence at wholesale markets, streamlining distribution processes, and accessing market information more efficiently.
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What is the primary role of E-commerce in the wholesale sector?a)Incre...
The primary role of E-commerce in the wholesale sector is to lower operating costs.
- Cost Efficiency: E-commerce platforms allow wholesalers to streamline their operations, reduce manual processes, and automate various tasks. This leads to cost savings in terms of labor, time, and resources.
- Inventory Management: E-commerce platforms enable wholesalers to manage their inventory more effectively by providing real-time updates on stock levels, optimizing order fulfillment, and reducing the risk of overstocking or stockouts.
- Order Processing: E-commerce systems facilitate faster and more accurate order processing, reducing the likelihood of errors and delays. This results in improved customer satisfaction and repeat business.
- Market Expansion: By establishing an online presence, wholesalers can reach a wider audience beyond their local market. This opens up new opportunities for growth and increased sales, ultimately leading to higher profitability.
- Customer Relationship Management: E-commerce platforms allow wholesalers to better understand their customers' needs and preferences through data analytics. This enables personalized marketing strategies and targeted promotions, leading to improved customer retention and loyalty.
In conclusion, E-commerce plays a crucial role in the wholesale sector by significantly lowering operating costs through efficient processes, improved inventory management, streamlined order processing, market expansion, and enhanced customer relationship management.
- Cost Efficiency: E-commerce platforms allow wholesalers to streamline their operations, reduce manual processes, and automate various tasks. This leads to cost savings in terms of labor, time, and resources.
- Inventory Management: E-commerce platforms enable wholesalers to manage their inventory more effectively by providing real-time updates on stock levels, optimizing order fulfillment, and reducing the risk of overstocking or stockouts.
- Order Processing: E-commerce systems facilitate faster and more accurate order processing, reducing the likelihood of errors and delays. This results in improved customer satisfaction and repeat business.
- Market Expansion: By establishing an online presence, wholesalers can reach a wider audience beyond their local market. This opens up new opportunities for growth and increased sales, ultimately leading to higher profitability.
- Customer Relationship Management: E-commerce platforms allow wholesalers to better understand their customers' needs and preferences through data analytics. This enables personalized marketing strategies and targeted promotions, leading to improved customer retention and loyalty.
In conclusion, E-commerce plays a crucial role in the wholesale sector by significantly lowering operating costs through efficient processes, improved inventory management, streamlined order processing, market expansion, and enhanced customer relationship management.
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What is the primary role of E-commerce in the wholesale sector?a)Increasing production efficiencyb)Reducing transportation costsc)Providing marketing servicesd)Lowering operating costsCorrect answer is option 'D'. Can you explain this answer?
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What is the primary role of E-commerce in the wholesale sector?a)Increasing production efficiencyb)Reducing transportation costsc)Providing marketing servicesd)Lowering operating costsCorrect answer is option 'D'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about What is the primary role of E-commerce in the wholesale sector?a)Increasing production efficiencyb)Reducing transportation costsc)Providing marketing servicesd)Lowering operating costsCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the primary role of E-commerce in the wholesale sector?a)Increasing production efficiencyb)Reducing transportation costsc)Providing marketing servicesd)Lowering operating costsCorrect answer is option 'D'. Can you explain this answer?.
What is the primary role of E-commerce in the wholesale sector?a)Increasing production efficiencyb)Reducing transportation costsc)Providing marketing servicesd)Lowering operating costsCorrect answer is option 'D'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about What is the primary role of E-commerce in the wholesale sector?a)Increasing production efficiencyb)Reducing transportation costsc)Providing marketing servicesd)Lowering operating costsCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the primary role of E-commerce in the wholesale sector?a)Increasing production efficiencyb)Reducing transportation costsc)Providing marketing servicesd)Lowering operating costsCorrect answer is option 'D'. Can you explain this answer?.
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