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Definition of E-Commerce Video Lecture | E-Commerce - B Com

100 videos|55 docs|19 tests

FAQs on Definition of E-Commerce Video Lecture - E-Commerce - B Com

1. What is e-commerce?
Ans. E-commerce, short for electronic commerce, refers to the buying and selling of goods and services over the internet. It involves online transactions, electronic fund transfers, and the use of digital platforms for conducting business.
2. What are the key advantages of e-commerce?
Ans. E-commerce offers several advantages, including: - Convenience: Customers can shop anytime, anywhere, without the need to visit physical stores. - Global Reach: E-commerce allows businesses to reach customers worldwide, expanding their market potential. - Cost Savings: Online businesses often have lower overhead costs compared to brick-and-mortar stores. - Personalization: E-commerce platforms can tailor product recommendations and offers based on customer preferences and browsing history. - Quick and Easy Comparison: Customers can easily compare prices, read reviews, and make informed purchasing decisions.
3. How does e-commerce ensure secure transactions?
Ans. E-commerce platforms employ various security measures to ensure secure transactions, such as: - Encryption: Sensitive data, such as credit card information, is encrypted to prevent unauthorized access. - Secure Sockets Layer (SSL): SSL certificates are used to establish secure connections between web browsers and servers, protecting data during transmission. - Payment Gateways: E-commerce platforms integrate with trusted payment gateways, which handle the secure processing of payment transactions. - Two-Factor Authentication: Additional security layers, such as two-factor authentication, can be implemented to verify the identity of users.
4. What are the different types of e-commerce?
Ans. E-commerce can be categorized into several types: - Business-to-Consumer (B2C): In this model, businesses sell products or services directly to individual customers. - Business-to-Business (B2B): This type of e-commerce involves transactions between businesses, such as wholesalers and manufacturers. - Consumer-to-Consumer (C2C): Individuals sell products or services to other individuals through online platforms. - Consumer-to-Business (C2B): In this model, individuals offer products or services to businesses, such as freelance work or influencer marketing. - Business-to-Government (B2G): E-commerce transactions between businesses and government entities, such as online procurement systems.
5. How does e-commerce impact traditional retail businesses?
Ans. E-commerce has had a significant impact on traditional retail businesses, including: - Increased Competition: Online retailers have expanded the market and intensified competition for traditional retailers. - Changing Consumer Behavior: Consumers now prefer the convenience and accessibility of online shopping, leading to a decline in brick-and-mortar store visits. - Need for Omnichannel Strategies: Traditional retailers are adapting by integrating online and offline channels to provide a seamless shopping experience. - Shift in Business Models: Some traditional retailers have transitioned to an e-commerce-focused business model or established their own online presence to stay competitive. - Logistics and Fulfillment Challenges: E-commerce requires efficient logistics and fulfillment operations to meet customer expectations for fast and reliable delivery.
100 videos|55 docs|19 tests
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