Commerce Exam > Commerce Videos > Business Studies (BST) Class 11 > Merits & Demerits of E Business
Merits & Demerits of E Business Video Lecture | Business Studies (BST) Class 11 - Commerce
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FAQs on Merits & Demerits of E Business Video Lecture - Business Studies (BST) Class 11 - Commerce
| 1. What are the merits of e-commerce in business? |  |
Ans. E-commerce offers several benefits for businesses, such as increased global reach, cost savings, improved customer experience, higher revenue potential, and enhanced market research capabilities. It allows businesses to expand their customer base, operate 24/7, reduce operational costs, personalize marketing efforts, and gather valuable customer data for targeted advertising.
| 2. What are the demerits of e-commerce in business? | |
Ans. While e-commerce offers numerous advantages, it also presents some challenges. Some of the demerits include security concerns, potential fraud and scams, lack of personal interaction, dependency on technology, delivery issues, and increased competition. Additionally, businesses may face difficulties in establishing trust with customers, dealing with product returns, and maintaining a competitive edge in the online marketplace.
| 3. How does e-commerce impact traditional businesses? | |
Ans. E-commerce has significantly impacted traditional businesses by changing consumer behavior and market dynamics. Traditional brick-and-mortar businesses have faced increased competition from online retailers and have had to adapt their strategies to remain relevant. Many traditional businesses have incorporated e-commerce into their operations to reach a wider audience, improve customer experience, and stay competitive in the digital age.
| 4. What measures can businesses take to ensure the security of e-commerce transactions? | |
Ans. To ensure the security of e-commerce transactions, businesses should implement several measures. These include using secure payment gateways, encrypting customer data, regularly updating security software, implementing strong authentication protocols, monitoring for suspicious activities, training employees on cybersecurity best practices, and complying with data protection regulations. Regular security audits and vulnerability assessments are also essential to identify and address potential threats.
| 5. How can businesses overcome the challenges of e-commerce and maximize its benefits? | |
Ans. Businesses can overcome the challenges of e-commerce by adopting a strategic approach. This includes investing in robust cybersecurity measures, building trust with customers through transparent policies and excellent customer service, optimizing website design and user experience, leveraging data analytics for personalized marketing, offering competitive pricing and promotions, partnering with reliable logistics providers, and continuously adapting to changing market trends. By embracing e-commerce as a core component of their business strategy, companies can maximize its benefits and thrive in the digital marketplace.
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Nov 24, 2024 Last updated |
Video Description: Merits & Demerits of E Business for Commerce 2024 is part of Business Studies (BST) Class 11 preparation.
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