exam 1 (e - commerce)

Question 1

What is a significant rise in retail sales in 2020 and 2021?

Answer 1

increase of 14.4 % in its peak

Question 2

What is a continuous growth of E-commerce retail sales from 2018 to 2027 (expected)

Answer 2

Online sales have been continued growing and are expected to have 1.72 trillion dollars which is 20% of retail stores

Question 3

What is US sales trend?

Answer 3

Amazon ranks number 1 on sales followed by walmart and apple

Question 4

Definition for E-commerce

Answer 4

digitally commercial transactions between organizations and individuals

Question 5

Definition for E-business

Answer 5

the use of the internet or electronic data interchange

Question 6

Definition for commercial transactions

Answer 6

the exchange of value (money) across organizational or individual boundaries in return for products and services

Question 7

Difference between E-commerce and E-business: Which one has a broader meaning?

Answer 7

E - business has a broader meaning that is an umbrella term of all business being done online.
Ex:
marketing their products online to attract customers to their brick and mortar store.

Question 8

What is dotcom (company)?

Answer 8

conducts business primarily through a website and internet key component in its business.

Question 9

What is dotcom bubble?

Answer 9

stock market bubble that was caused by speculation in internet based business from, 1995 to 2000

Question 10

8 Unique Features of E-commerce Technology

Answer 10

1. Ubiquity
2. Global reach
3. Universal standards
4. Richness
5. Interactivity
6. Personalization (custom
7. Social Technology
8. Information density

Question 11

what is Ubiquity?

Answer 11

available everywhere

Question 12

What is Global reach?

Answer 12

reaches across national boundaries

Question 13

What is Universal standards?

Answer 13

shared by all nations and differ from one nation to the next

Question 14

What is Richness?

Answer 14

online merchant to deliver marketing messages video, audio, and text messages

Question 15

What is Interactivity?

Answer 15

technology allows two way communication between merchant and consumer

Question 16

What is Personalization (custom)?

Answer 16

allows personalized messages to be delivered to people and groups

Question 17

What is Social Technology?

Answer 17

users create content consumed by large audiences on social network platforms

Question 18

What is Information density?

Answer 18

amount of information to all market becomes less expensive with higher quality

Question 19

What is the type of e - commerce called B2C?

Answer 19

business selling to consumers
ex: amazon, priceline, Zara, Realisation

Question 20

What is the type of e - commerce called B2B?

Answer 20

businesses selling to other business and is the largest form of e commerce
ex: amazon business, allbaba.com

Question 21

What is the type of e - commerce called C2C?

Answer 21

consumers sell to each other
ex: airbnb, craigslist, ebay

Question 22

What is the type of e - commerce called C2B?

Answer 22

individuals sells good and services to companies
Ex: upwork, fiverr, scripted

Question 23

What is On-Demand Economy?

Answer 23

digital transportation in which companies are providing products and services on their doorstep
ex. Instacart, lyft, doordash

Question 24

What are the 4 P’s of e - commerce strategy?

Answer 24

product, prices place, and promotion

Question 25

What is product?

Answer 25

physical item or service sold

Question 26

What s price?

Answer 26

the amount customer pays for product

Question 27

What is place?

Answer 27

the need to have products or services available in many locations

Question 28

What is promotion?

Answer 28

any means to spread word about product

Question 29

What is product driven?

Answer 29

focus on products and services sold by the company and works well when its from particular product categories ex. Office depot, staples

Question 30

What is customer driven?

Answer 30

websites designed to meet needs sharing common characteristics

Question 31

What is market segmentation?

Answer 31

Divides potential customer into segments by customer characteristics

Question 32

What is demographic?

Answer 32

age, gender,income,race

Question 33

What is geographic?

Answer 33

zip code, where they from, city, country

Question 34

What is psychographic?

Answer 34

values,goals,needs,hobbies

Question 35

What is Behavioral ?

Answer 35

purchasing habits, brand interactions

Question 36

What is micro marketing?

Answer 36

Is the practice of targeting very small market segments

Question 37

What is the usage based market segmentation?

Answer 37

Customizing experiences to match behavior patterns of buyers and shoppers

Question 38

What is the five stage model of customer loyalty?

Answer 38

1. Awareness stage 2. Exploration stage 3. Familiarity stage 4. Commitment stage 5. Separation stage

Question 39

What is the awareness stage?

Answer 39

message should inform

Question 40

What is the exploration stage?

Answer 40

how product world and encourage switching brands

Question 41

What is the familiarity stage?

Answer 41

customers to purchase or request a call

Question 42

What is the commitment stage?

Answer 42

reinforce goods feelings and remind customers to buy

Question 43

What is the separation stage?

Answer 43

customers not targeted in ads

Question 44

What is MCKinsey and company's SIX behavior categories?

Answer 44

1. Simplifiers 2. Surfers 3. Bargainers 4. Connectors 5. Routiners 6. Sporters

Question 45

What is simplifiers?

Answer 45

use internet to make their lives easier and with convenience

Question 46

What is surfers?

Answer 46

use internet for wide purposes among buying products

Question 47

What is bargainers?

Answer 47

internet for combination of shopping to find deals

Question 48

What is connectors?

Answer 48

internet newcomers to connect and communicate to offline brands

Question 49

what is routiners?

Answer 49

internet as regular source of info and aren't online shoppers

Question 50

what is sporters?

Answer 50

focus on sports and entertainment and use it for info

Question 51

What is touchpoints?

Answer 51

are online and offline customer contact points

Question 52

What is touch point consistency?

Answer 52

goal of providing similar levels and quality service at all touch points

Question 53

What is search engine marketing?

Answer 53

A digital marketing strategy in search engine results pages

Question 54

What is the top search engine providers?

Answer 54

Google, Miscorsoft, Bing, Yahoo

Question 55

What is the pay per click? PPC

Answer 55

primary type of search engine advertising

Question 56

What is the click through rate? CTR

Answer 56

1-4 percent with an average of 2 percent

Question 57

What is the search engine optimization? SEO

Answer 57

The process of improving the ranking of web pages with search engines

Question 58

What is a banner ad?

Answer 58

rectangular object on a web page that displays graphic which includes the link

Question 59

What is a rich media ad?

Answer 59

interactive features that engage with uses by animations where the ad expands to a size bigger and smaller or even a video

Question 60

What is a video ad?

Answer 60

tv like advertisement that appears as in page video commercial

Question 61

What is email marketing?

Answer 61

Can be a powerful element of advertising

Question 62

What is a affiliate marketing?

Answer 62

A form of marketing where a firm pays a commission to other websites (blogs as well) for sending customers their websites

Question 63

What is pay for performance?

Answer 63

The affiliate gets paid only if users click on a link a purchase a product

Question 64

What is direct competitors?

Answer 64

companies offering the same products, they sell the same types of target market ex: zara and mango (fast fashion) OR everlane and reformation (sustainable)

Question 65

What is indirect competitors?

Answer 65

companies with different products that target same types of clients ex: mc donald vs dominas pizza OR netflix vs tik tok