Importance of Sales and Buying Negotaion in E-Cormerce Flashcards
(12 cards)
What is the importance of sales and buying negotiation in e-commerce?
- Cost and time saving
- Enhances market efficiency
- Improves customer experience
- Builds transparency and trust
- Encourages competition benefits
How does e-negotiation save cost and time in e-commerce?
Automation speeds up negotiation using tools like AI chatbots and instant counteroffers, reducing negotiation time by up to 20%.
How does e-negotiation enhance market efficiency in e-commerce?
It connects global buyers and sellers, allowing access to competitive pricing and new markets through platforms like Alibaba and Amazon.
How does e-negotiation improve customer experience in e-commerce?
It enables personalized discounts and recommendations, and 24/7 availability allows customers to negotiate and purchase at their convenience.
How does e-negotiation build transparency and trust in e-commerce?
Review systems and secure payment methods like Escrow.com reduce fraud and boost buyer confidence, influencing purchasing decisions.
How does e-negotiation encourage competition benefits in e-commerce?
Auction-based models and dynamic pricing tools like those on StockX ensure sellers get optimal prices and buyers benefit from fair competition.
What are the challenges of sales and buying negotiations in e-commerce?
- Cybersecurity and fraud risks
- Technical barriers
- Legal and regulatory complexities
- Lack of human interaction
- Algorithm bias and unfair pricing
What are the cybersecurity and fraud risks in e-commerce negotiation?
Scammers may offer counterfeit products or use stolen card information, especially on peer-to-peer platforms like eBay or Facebook Marketplace.
What are the technical barriers in e-commerce negotiation?
Older users or small sellers in developing regions may struggle with AI tools and digital negotiation systems due to lack of technical skills.
What legal and regulatory complexities affect e-commerce negotiations?
Businesses must comply with diverse laws like GDPR and other country-specific e-commerce regulations, making negotiations more complicated.
Why is lack of human interaction a challenge in e-commerce negotiation?
Automated systems can feel impersonal, leading to frustration and miscommunication, especially across languages and cultures.
How does algorithm bias lead to unfair pricing in e-commerce?
Dynamic pricing algorithms can exploit users based on browsing history or location, as seen in surge pricing cases with Uber or Amazon.
