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  M.com Part 1 (Semester 2)

E- COMMERCE

Most Important Question Bank for Current Exam


Mumbai university solved question papers download pdf sem 2,


Q.6. Write a note on ‘E-commerce business strategies for Marketing, Sales and Promotions’

ANS:

1) Feedback Forms:

It is important for an e-commerce company to find out what people think about their company than to solicit their opinion. By using customer feedback, an e-commerce can improve its site and provide better service to their customers. Using feedback forms also shows that e-commerce company is interested in what their customers have to say, and provides an opportunity to build relationships with them.

2) Daily Give-Away/Coupons/Contests:

E-commerce companies that offer regular promotions such as a ‘give-away’, coupons and contests are in a solid position to capture a regular audience. The promotions act as the driver that attracts customers to visit initially. It also provides an opportunity to showcase new products and services, and deliver important news about e-company. For example, an ecommerce company offers discount coupons to customers which can be redeemed on next purchases. This encourages customers to purchase goods in future.

3) Bookmarking:

A good way to encourage customers to visit an ecommerce company’s site is to ask them to bookmark it. Through bookmarking, they have easy access to a site and do not have to remember your site’s exact URL to visit. Bookmarking a site is particularly beneficial for web surfers who like to follow links. It enables them to go back and take a more in-depth look at what company has to offer when they need to.

4) Surveys: Surveys provide an effective avenue through which important customer data is gathered that will help an e-commerce company to improve its business and plan for the future. To encourage visitors to complete the survey, the company can provide an incentive such as an opportunity to win a prize.

5) Awards/Testimonials:

Including awards and testimonials on ecommerce site will provide credibility to its business. It will also provide a foundation to build rapport and trust with customers, who will be more willing to visit a site they can trust.

6) Online Chat:

Online chat mechanisms provide a forum where customers can come together and share their experiences with each other and e-commerce Company. This interactive tool allows companies direct access to customer opinions where they can gauge trends and determine their views.

7) Product Tours:

Online tours provide an e-commerce company with an opportunity to showcase particular products and services, and highlight their key benefits. Product tour is a better way to show how the product works. Product tour makes complex product look simple and easy to use.

8) Using Video:

E-commerce business benefits not only from the use of words, but the use of words, sound and images combined, making it a wonderful way for businesses to quickly and very inexpensively share information about their products, services and business activities. Ecommerce companies can create their own channels and link those channels through their other online activities--web sites, blogs or social media activities.

9) Relationship Building through social media:

Relationship building is a marketing strategy built on establishing a long-term and mutually beneficial relationship between businesses and customers. Ecommerce through social media allows ongoing two-way communication. Google+, LinkedIn, Facebook, Twitter, YouTube and Pinterest are social media platforms that businesses use to build relationships and communities around their brands. Social media allows businesses of all sizes to address public relations and customer service issues quickly, announce time-limited offers and promotions, and give customers a chance to share their product-related stories and images.

10) Make checkout process easy:

An e-commerce company should try to get everything on one page. If it has several pages, it should show a progress bar at the bottom of each page so that customers can visualize how much longer the checkout process will take. The more time a customer spends looking for the next button or the checkout button the quicker they can become frustrated with the site.

11) Give customers helpful product descriptions:

E-commerce companies selling any type of clothing or accessory should provide a size guide. Not only will this help customers to select right product but it will cut back on returns of such goods. E-commerce Company should have a page dedicated to frequently asked questions. It is desirable if company has descriptions for every single one of their products. These details tell customers what the product is made out of, the size, fit and fabric, how to clean it and even tells customers the height of the model in the photo. Not only will they be able to easily find your products, but it will also be easier for them to make a purchase decision.

12) Retargeting: Customers who have already shown an interest in website are more likely to make a later purchase. Retargeting is a technique that tracks customers who have visited website. The e-commerce company can display ads to them while they’re browsing the internet with the intention of getting them back on the website. When these visitors enter website again, they are far more likely to make a purchase.

13) Email Marketing:

An e-commerce company can build an email list by collecting emails when they make a purchase. They can also collect emails through social media campaigns and on its website in exchange for coupons or discounts.

An e-commerce company can send different emails like:

  • Welcome Email: This email is received by customer when they create  account and login to the site.
  • Email Nurture series: This is a sequence of emails that company sends to educate customers about the product and
  • Cart Abandonment email: This is the email sent when visitors fill up the cart, then leave your store without checking out
  • Email Receipts: These are emails sent to confirm customer’s purchase; it’s also a great time to send them further promotions.

14) Social Media Marketing: Using social media marketing for eCommerce business has its benefits like user engagement and increasing sales. User engagement involves likes, shares, comments and general interaction on posts and this helps to create brand image in the mind of target audience. It’s also crucial for word-of-mouth marketing since it’s very easy to share information within and between platforms (like from Facebook to whatsapp and so on). Nowadays, social media platforms have made it easier for eCommerce businesses to create and maintain their presence. Instagram allows swipe-up links on stories and product stickers on posts. When it is clicked, take viewers directly to a product or catalog. Facebook has a ‘dynamic ads’ feature that allows owners to upload entire catalogs and promote relevant content to individual users

15) Build a Mobile App:

There are several benefits to have an app for ecommerce business. Apps tend to load more quickly that websites so that users can shop more efficiently. If an e-commerce company has an app customers are one tap away from viewing products. The ecommerce company can also send push notifications through apps to notify customers when company is having a sale or when their favorite item is back in stock. Building an app is an excellent way to boost sales and drive growth. E-commerce Company should design site with mobile visitors in mind from start to finish. The company should have a bigger add to cart button on all mobile product pages, making it easier for the visitor to add to cart without zooming in. It should also present images in a different format, making it faster for mobile visitors to load product photos and easier to zoom in.

16) Search Engine Optimization (SEO):

Search Engine Optimization (SEO) aims to draw the greatest amount of traffic possible to a website by bringing it to the top of a search engine's (Google, Yahoo, and Bing) results. SEO is used by businesses to maximize the visibility of websites and content to boost traffic and, therefore, business. Search engines are the most common vehicle in bringing organic (non-paid) traffic to a website, which makes SEO highly competitive: a successful strategy can bring a business a high level of exposure.

17) Optimize website layout:

After launching or redesigning e-commerce site, it’s important to test website’s layout, language, and placement different elements. When customers visit to the website, they should feel easy and simple to check out products and information. They should feel naturally inclined to purchase products.

18) Influencer Marketing:

Influencers are popular non-celebrity individuals with a large following on social media platforms ( like Instagram, YouTube and Facebook) or blogs and who can affect the purchasing decisions of their audience. E-commerce companies can make use of such influencers and gain their audience trust.

19) Affiliate Marketing:

Affiliate marketers are the businesses promotes content on their website to their audience and receive some percentage of sales when leads the product. Affiliate marketing looks like display ads. With display advertising, E-commerce company creates ad that appear on other websites. When site visitors click on them, they’re taken to a landing page where they can learn more about your product and convert to become a paying customer.

20) Personalization strategy:

With personalization strategies, the company can target customers with tailored and dynamic offers, sales, discounts, personalized emails, even recommended products and also helps them find what they may need. The company can obtain these by observing and analyzing customer-specific site behavior, cart items and purchase history or demographic-specific history and data.


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