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Ecommerce allows consumers to electronically exchange goods and services
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Short Answered Questions

Week 6

Dady Lafleur

City College

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

require customization.

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.

 

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