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Short Answered Questions
Information Systems Management
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Short Answer Questions
What is electronic commerce?
Ecommerce allows consumers to electronically exchange goods and services with no barriers of
time or distance. Business to Business or B2B refers to electronic commerce between businesses
rather than between a business and a consumer. B2B businesses often deal with hundreds or even
thousands of other businesses, either as customers or suppliers. Carrying out these transactions
electronically provides vast competitive advantages over traditional methods. When
implemented properly, ecommerce is often faster, cheaper and more convenient than the
traditional methods of bartering goods and services.
How can you use a B2B e-marketplace to reduce your dependence on a particular supplier?
You can use a B2B e-marketplace to find other suppliers and also participate in reverse auctions
to find the best supplier with the best price. This will help reduce your dependence over time.
How do convenience and specialty items differ in the B2C e-commerce business model?
In a B2C-E-commerece, convenience items are lower-priced but something needed on a
frequent basis. Specialty items are higher-priced, ordered on a less frequent basis, and often
Why do commodity like and digital items sell well in the B2C e-commerce business model?
Commodity like items works well because they are the same no matter where you buy them.
Digital products work well because there are no real associated shipping or storage costs. All of
this is the main reason why they sell so well.
What is mass customization?
Mass customization is the ability of an organization to give its customers the opportunity to tailor
its product or service to the customer's specifications.
Mass customization combines the
personalization and flexibility of custom-made business built-up and takes it to another level of
mass production, which offers a lower unit cost. Therefore, different mass consumer groups are
targeted in mass customization rather than targeting a single client. This concept is utilized in
numerous business types for instance in software that allow users to change or add certain
functionalities according to their requirement.
How does a reverse auction work?
In a reverse auction, you place a request for products and/or services and suppliers continually
submit lower bids until there is only one supplier left.