m.com sem 1 e-commerce imp questions in exam paper

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  M.com Part 1 (Semester 2)

E- COMMERCE

Most Important Question Bank for Current Exam

Write the characteristics of B2C model of e-commerce.


Q.8. Write the characteristics of B2C model of e-commerce.

ANS:

1) Wide coverage:

B2C e-commerce enables business persons to extend their trade to a large number of consumers by providing them online Global access to their products. It can be said that B2C e-commerce shrunk the world, and the international boundaries do not play any role.

2) Effective promotion:

Compared with the traditional products promotional methods (advertisements in newspapers, on the radio and on hoardings), products can be promoted and advertised in a more innovative and interactive manner with the use of multimedia and animation through B2C e-commerce. Using e-commerce, sellers can promote their products either on their own websites or on social networking sites such as Facebook Twitter and Gmail.

3) Low promotional cost and quick post sales services:

B2C ecommerce benefits businessmen because of its low promotional costs. In addition, it also enables them to provide post-sale services through their registered call centre, which facilitates cheaper and provide faster resolution of complaints compared with traditional post sales services.

4) Consumer friendly payment methods:

B2C e-commerce provides a wide range of payment options such as via debit card, credit card, cash on delivery and Equated Monthly Installments (EMI) schemes, which are consumer friendly. These methods save time and efforts and are also considered safe.

5) Easy access:

Unlike the traditional modes of business, e-commerce provide accessibility to consume around the clock at any time during the day, throughout the year and in all seasons, customer can contact the registered call centre and support centres.

6) Customized goods:

In view of the growing complexities and competition in today's world, custom-made goods have become the need of an hour. In this scenario, e-Commerce has emerged as a boon for businessman, as it allows them to manufacture products according to the individual tastes and preferences of their customers.

7) High rate of return of goods:

B2C E-commerce in India has many first time buyers. This means that they have not yet made up their mind about what to expect from e-commerce websites. As a result, buyers sometimes fall prey to hard sell (Instant placing order for goods by watching advertisement or offers). But by the time the product is actually delivered, they regret and return the goods. Though consumer regret is a global problem, but it is all the more prevalent in a country like India. Returns are expensive for e-commerce companies, as reverse logistics (returning a product to the manufacturer or distributor) create challenges. This becomes all the more complex in cross border e-commerce.

8) Competition:

Due to a variety of benefits offered by e-commerce industry such as global reach, high profitability, zero initial costs, etc. many firms are encouraged to undertake e-commerce business. This has led to increase in competition among the e-commerce marketers especially B2C e-commerce. Competition is leading to decrease in profitability due to reasons such as aggressive pricing strategies, heavy discounts and offers, free delivery, high commissions to affiliates and vendors during sale period etc. These firms are losing billions to attracting customers.

9) Lower volume per transaction:

Generally, there is lower volume and value per transaction under B2C as compared to B2B model. This is because, the B2C customers purchase goods or services for personal use or consumption, whereas, under B2B the buyers purchase in large quantities for business purpose.

10) Global Reach:

With e-commerce, a company can reach out to the customers worldwide. Unlike physical stores where only a limited number of customers can be served, e-commerce allows firms to deliver products online to customers in any corner of the world.

11) Small Investment:

E-commerce firms do not have to make investment to purchase land or rent or lease space for physical stores. E-commerce is operated online through websites. There are many domains which allow firms to create websites, which is less costly and far more convenient. The marketer has to only create a website to target their customers. Logistic functions can be outsourced by them. It reduces the need to make heavy investments and also provides quick return on investment (ROI) to marketers.

12) Less Operating Costs:

In e-commerce business, there is no need to hire a large number of employees unlike physical stores. It reduces training cost, salaries etc. that have to be paid to employees. Due to opening an online store there is no need of payment of rent, utility bills and other miscellaneous expenses which can be incurred in physical stores. This results into less operating cost of e-commerce firms.

13) Variety of goods: B2C E-commerce makes a variety of products easily available to customers. They can select products straightforwardly as per their budget and requirements. Details of all the products are available the websites, which makes it easy for customers to select the right product.

14) Discounts and offers:

B2C e-commerce company offers discounts as well as offers such as free gifts, extra quantity, warranty etc. on every purchase.

15) B2C process:

B2C process involves following steps:

  • Registration
  • Information Search
  • Placing order
  • Payment
  • Logistics
  • After-sales Service

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