M.com Part 1 Semester 2 E-commerce important questions and answers pdf

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  M.com Part 1 (Semester 2)

E-COMMERCE

Most Important Question Bank for Current Exam

M.com Part 1 Semester 2 E-commerce important questions

Q.11 Discuss the benefits of website.

ANS:

In this digital age, a business firm cannot do without a website. A business firms needs to develop, maintain, and manage one’s own website, as there are several benefits or advantages.

1. Online Presence 24/7: -

Having a website means customers are always able to find business firm anytime, anywhere. Even outside of business hours, the website continues to find and secure new customers. It offers the user convenience as they can access the information they need in the comfort of their own home, with no added pressure to buy. Plus, as most companies nowadays have their own website.

2. Information Exchange: -

A website provides a quick and easy way of communicating information between buyers and sellers. A business firm can list opening hours, contact information, show images of location or products, and use contact forms to facilitate enquires from potential customers or feedback from existing ones. Business firm can even upload promotional videos to really engage the customers and sell the business in an effective and most efficient way. This is also a good way to promote social media channels and build up a community with the customer.

3. Credibility: -

In today’s modern world, there is an expectation for any reputable company to have online presence. Potential customers would likely be distrusting of any business that didn’t have a telephone number or a physical address, and the same can be said for not having a website and email address. Easy to use website makes customers feel comfortable using the services, as customer will assume, they can expect the same positive experience in all areas of business firm.

4. Market Expansion: - Business firm’s site is accessible to anyone all over the world, e.g. (Myntra, Amazon, Snapdeal, Shop clues, eBay), the ability to break through geographical barriers has never been easier. Anyone, from any country, will be able to find the company and as such, is now a potential customer.

5. Advertising: - Tools like Google AdWords or advertising on Facebook give the power to reach customers with much more accuracy and reliability than with traditional offline advertising methods. SEO and online advertising are a great way to help build up awareness, if it correctly done traffic to business website can see an increase. Be the first company that a potential new customer sees when searching for a specific product or service online and use website’s contact page or ecommerce features to make purchasing a product or finding a retail outlet easier than ever before.

6. Organizational Objectives: -

With the help of website, a business firm can provide convenience to the customers, and therefore, the firm gets a greater number of customers, which in turn helps the firm to achieve its organizational objectives such as:

 Increase in sales.

 Increase in market share.

 Increase in profits.

 Growth and expansion of business, etc.

7. Benefits to Online Sellers: -

There are several benefits of a website to online sellers, which are as follows:

 Global reach

 Audience Sizing

 Lower Investment

 Lower Risks, etc.

8. Customer Reviews: -

Website can provide a good learning experience to the website owner. For example, a business firm may request its customers to write a review of its products ‘or service performance. The product reviews can a good learning experience to the business firms, thereby, making product or service modification to satisfy the customers.

9. Tie-ups: -

A website may provide an opportunity to the business firm for a tie-up with another firm. The tie-up may be in respect of R & D, logistic, after-sale-service, etc. The website information may generate a proposal to the business firm for a possible tie-up. The business firm may either accepts or reject the same. If business firm accepts the proposal for tie-up, it may enable the firm to grow and expand the business.

10.Links: - A website may get the business firm to get links to other websites. Links are especially vital to viral marketing. When several sites are linked to the website of the firm, the word about the company gets spread quickly throughout the globe. Therefore, it is advisable to develop a website with good content. Others may recognize this vital content, and therefore, they may link their website to the website of the business firm.

11. Cost Reduction: - Website can help to reduce certain costs. For example, website enables a business firm to feature an electronic version of product catalogue, with no limit on size. Because website space is significantly less costly than a printed catalogue, one can even provide additional product photos and descriptive text. Errors and typos can be quickly corrected without ordering a full reprint of the catalogue, and products can be added or removed as needed.

12. Growth opportunity: -

Websites, in general, are great ways to in providing a place that potential investors can be referred to. It shows what the company is about, what it has achieved and what it can achieve in the future.



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