2020 Fall E-Commerce Final Exam Answer

Questions (100 points in total, 10 points per question)

Name: Mohammad Imran Hossain Khandaker

ID: 2018511080043

1.Discuss the reasons companies embark on social commerce.

Answer: Here I am discussing the reasons companies embark on social commerce. first, we need to
know what is social commerce. it is means is the use of networking websites such as Facebook,
Instagram, and Twitter as vehicles to promote and sell products and services. The success of a social
commerce campaign is measured by the degree to which consumers interact with the company's
marketing through retweets, likes, and shares.

Now I am discussing the reasons companies embark on social commerce;

Customer Loyalty and Retention: Now Here’s the truth. People trust other people more than brands. If
we have a lot of satisfied customers leaving good reviews and comments about our business on our
social media page, potential customers are more likely to trust me and buy my products. On the other
hand, I existing, satisfied customers are more likely to make repeat purchases.

Reach a Global audience: That’s the aspect approximately social media. It has no geographical
limitations. For online businesses targeting a global target market, there’s no better platform to
promote and sell their products on than social media.

Create content: Content should provide a mix of product recommendations, practical value, and
entertainment.

Higher Search Engine Ranking: Engagement on social media can lead to more than just direct
transactions. It has been proven that social media commerce actually increases traffic to our website
which will eventually influence our ranking on search engine results.

Get Shared & Recommended: Customers can easily share and recommend my brand on social media if
they are happy with our products. This helps me gain more popularity and customers, and that too free
of cost. Social commerce offers a lot of opportunity for businesses who strive to keep their customers
happy.

2.Compare physical marketplaces with marketspaces. What are the advantages and limitations of
each?

Answer: Here I am comparing the physical marketplace with marketspace.

Marketplace Marketspace
Marketplace is physical as when we shop in a Marketspace is digital as when we shop on the
store. internet.
 When the client is physically present in the
shopping mall, they don’t worry about their
privacy concerns
Supply is plentiful, but the access of the buyers to
physical countdown is limited.
The buyer and employees usually internet prior
to the transaction
Buyers tend to have more concerns about
information privacy and the safety of making
payments to unknown sellers
Supply is limited compared to the plentiful
interested buyers
Purchases often occur without a direct
conversation.

Marketspace Advantage

 The market space is already an established in market, and their is don’t need to create demand.
 Shopping at market space is very easy with a single click of the mouse or touch
 Marketspace can attract high traffic that includes millions of customers
 Marketspace is one of the quickest ways to expand online profile and footprint
 The seller has to pay a commission to use the market space

Marketspace Limitation

 In market space, a buyer will not be able to take the help of employees who acts as a guiding.
force
 The market space cannot boast of any direct communication between the buyer and the seller.

Marketplace Advantage

 It provides an additional channel to market and sell the products

 The platform offers reduced marketing costs compared to other sales channels

Marketplace Limitation

 The online stores may impose restrictive terms and conditions in terms of how we can
communicate to customers.
 There may be marketplace limitations as to how our business can brand its online presence.

3.What is the future of Amazon.com?

Answer: Here I discuss the future of Amazon com

 They are making plans to open more retail stores

 Amazon plans thousands of new hires
 They are making plans big pish to expanded prime now first delivery
 Amazon plans more stores and added prime perks
 They are planning to increased emphasis on logistics
 More investment in original content

The future of Amazon is vivid and additionally generates a dizzying variety of complex questions,
however, given its history to date, its ability to execute on a couple of fronts, frequently in parallel, and
nonetheless, beneath the leadership of its dynamic, visionary founder, there’s little question that, over
the subsequent decade, Amazon will retain to grow its dominance in many of these classes and also
earn have an effect on in others.

4.Discuss B2B opportunities in social networking.

Answer: Here I am discussing B2b opportunities in social media

Business-to-business e-commerce (B2B EC), also known as eB2B (electronic B2B), or just B2B, refers to
transactions between businesses conducted electronically over the Internet, extranets, intranets, or
private networks. B2B e-commerce is very different and more complex than B2C. It is much more
difficult to sell to a company than to individuals.

Social media offers B2B marketers’ unique opportunities. With a complex decision-making process, B2B
buyers require a nuanced approach to social media marketing. Differentiating the brand, demonstrating
authenticity, building trust, and most importantly, persuading buyers to take the next step in the sales
journey is the critical mission of B2B social media marketing.

Further, each step of the journey uncovers metrics and conversion attribution to capture what tactics
resonate the most with your audience. These insights serve to develop an overall more effective creative
digital performance

The opportunities in social networking.

 Creates new sales opportunities.

 Decreases the time and cost of managing customer accounts.
 Reduces marketing and sales costs.
 Increases production flexibility, permitting on demand delivery.
 Reaches a more geographically dispersed customer base.
 Provides for efficient customer service.
 Data collected can help make operations more efficient.
 Helps equalize small enterprises.
 Lowers search costs and time for buyers to find products and vendors.

5.Discuss the advantages and disadvantages of e-learning for an undergraduate student.

Answer: Here I am discussing the advantage and disadvantage of e learning for an undergraduate
student.

Not only college students and trainees use e-learning knowledge of. Today, even primary one school
children have smartphones, this means that that digital studying starts off evolved with our little ones. In
the interim, e-learning to know offerings have progressed so far that newbies since almost as they may
be inside the classroom. We will provide an explanation for what e-learning to know the approach and
give you a top-level view of the advantages and disadvantages.
Advantage

 Online learning promotes active independent learning.

 It is really a very convenient option for learning for undergraduate students who are working full
time or part-time.
 The ultimate convenience and flexibility of e-learning enable students to get the resources
available from anywhere and at any point in time.
 Students can train themselves anytime and from anywhere also due to easy accessibility of the
net 24x7.
 Individuals can also train themselves on a day-to-day basis or on weekends or whenever they
are having free time to do so.
 One can also interact with everyone online and clear his or her doubts if there is any through
discussion boards and chats.

Disadvantage

 Individuals simply get knowledge on a theoretical foundation and when they are about to
put to use whatever they have learned; it may be a little different thing.
 Face-to-face learning is completely missing in online learning that really matters to all of
students
 The quantity of security is also one of the main problems in E-learning programs.
 Most of the online assessments are also confined to questions that are only objective in
nature.
 Furthermore, the online tests that are pc marked typically will be inclined of being
knowledge-based totally most effective and these aren't basically practicality-based totally.
 The authenticity of the work of any online course student is also a problem as online anyone
can do any project rather than the real student itself

6.Discuss the potential benefits and drawbacks of conducting m-commerce on social networks.

Answer: Here I am discussing the potential benefits and drawbacks of conducting m-commerce on social
networks

M-commerce (mobile commerce) is the buying and selling of goods and services through wireless
handheld devices such as smartphones and tablets. As a form of e-commerce, m-commerce enables
users to access online shopping platforms without needing to use a desktop computer.

Benefits of m-commerce

 Allows e-commerce from any place, anytime

 Assists in shopping by providing real- time information and other shopping aids
  Helps organization and communication while traveling
 Expedites banking and financial services
 Provides rich media entertainment anytime and anywhere
 Facilitates the finding of new friends and whereabouts of existing ones
 provides a choice of mobile devices for transactions
transactions
 Increases affordability over the cost of using desktop computing in some countries

Drawbacks of m-commerce

 Data privacy concerns

 International competition: Having an international audience seems amazing, but the
international competition that accompanies it can be somewhat challenging. 
 Internet connectivity: In order to use m-commerce, a user requires either the
connectivity of WIFI or mobile data connections. Without accessing the internet
connections user will not be able to receive any data to purchase
 Shipping costs: People buy our stuff and you have to get it to them somehow. we can
offset the cost of shipping by setting a minimum for free shipping,
 Unknown/unexpected factors and fees
 Smartphone Limitation: No matter how useful it is without the use of smartphone user
can never access and navigate the data properly.

7.Discuss the shortcomings of user-generated reviews and recommendations.

Answer: Here I am discuss the shortcoming of user generate reviews and recommendations

User Generated Content Benefit

Authentic content

User generated content is made by real people in real situations.

There are 76% of users trust User-generated content is greater honest and precious than brand created
content.

Brand Loyalty

When users generate content for our Brand, a stronger feeling of connection with our business, is built.

Encourages purchases

When consumers witness user-generated content whilst shopping, the conversion rate increases by
4.6%. Additionally, user-generated content material interactions, even as buying, increases the
conversion charge to 9.6%.

Brand relevance
50% of consumers find user-generated content material extra memorable than Brand produced content.
So, you can nurture a private connection with our Brand.

Encourages more engagement

People agree one another over Brands, because of this User Generated Content gets much extra
engagement. Brand engagement increases 28% in product video when you use user generated content.
Consumers are twice as likelihood to share user generated content with friends or family.

Provides SEO Value

By asking people to share reviews, testimonials, and experiences approximately the products, you can
discover the proper content material.

Low cost

Are you searching out an effective low-fee advertising and marketing tactic? UGC can help you a lot.
Content is created by way of customers, not via an advertising organization, so this is a cheaper manner
with a view to creating content.

User Generated Content Risks:

No Participation

This is the worst fear of marketers. we create a campaign, we have spent hours to set up, and you get
nothing. If you don’t have an engaged network, this worry can come alive.

No authenticity

How many contests are out there that human beings participate in only for the prize and not anything
else comes out of it?

Users can go against you

Users and trolls can go in opposition to us. What is the one factor that is as bad in our marketing
campaign as no users? Angry customers.

This is a hassle that many Brands have already faced, trying to create and promote content coming from
actual people

Content Quality is Low

we will in no way be sure what we are going to get concerning the pleasant of the content material. And
if making a decision to put up every consumer-generated content on our website, we will damage again
your Brand Image.

Legal Issues & Copyright infringement

The maximum important issue that a Brand will stumble upon. This is a direction that you ought to keep
away from at any cost since this route will lead you to steeply-priced legal actions.

8.Some say that people come to social networks to socialize, and they will disregard, disable, or not
accept ads. Others say that people do not mind the ads, but they ignore them. Discuss.
Answer: in here I am discussing that people come to social networks to socialize, and they will disregard
or not accept add. Others say that people do not mind the ads they are ignore them
First of all, I don’t like ads in a social media, accept creative ads / funny ads / social awareness ads.
When I saw any ads in social media, I always try to skip that. It’s totally annoying me. When I saw a video
in social media lot s of ads are coming in that time and stop the video, that time I feeling angry and skip
the ads.
Some peoples like the ads. Even though the ads often perform well, they aren't necessarily providing
users with a good experience.

 Nearly 3 out of every 4 users (74%) think there are too many ads. The number grows to 78% for
adults 35+ years old.
 63% of users say they only see a few things advertised, over and over again.
 44% of users find the ads irrelevant to their wants and needs. For those 35 and older, the
number balloons to 51%.  

9.Facebook and Twitter compete for advertisers’ money. Which one has a better chance to get more
ad money and why?

Answer: I think Facebook has a better chance to get more ad money here I am discussing about both of
advantage Twitter and Facebook

As social networks go on creating advertising solutions, us marketers face a dilemma which becomes
increasingly more complicated: we do not want to miss out on any chances to reach our targets, but we
have to optimize our advertising budget to the best of our ability.

As social networks go on growing advertising solutions, we entrepreneurs face a situation that will
become increasingly complex: we do now not need to overlook out on any probabilities to reach our
objectives, however, we must optimize our advertising price range to the excellent of our capacity.

Advantages of Twitter Ads 

Reach a wide audience: 

Twitter has a large user base, which can include our capacity customers. Using hashtags allows you to
reach a target market interested in a specific topic or in a particular location.

Deliver customer service:

The platform lets in direct two-way conversation together with our customers. Because it's a public
interaction, in case we do it nicely it indicates our business in an effective light

Brand identity:

Being on Twitter can help speak our brand /logo ethos and personality. This should assist our business
appeal to your target market.

Feedback: 

Twitter may be a beneficial aid for gathering feedback from customers.

Cost: 

It is free of rate to installation a Twitter account. While paid ads are to be had, many organizations or
business see benefits from natural posts and interplay.

Benefits of using Facebook ads

 Makes it viable for small businesses to get efficient consequences with little price range
 Offers large levels of segmentation in order to find your ideal client.
 Helps with reaching this entire audience who missed our natural publications.
 Provides the flexibility to personalize advertisements based on interests
 Guarantees an increase in traffic for a small price
 Automatically enables you to measure the performance of advertisements

So, I think Facebook has a better chance to get more ad money here I am discussing about both of
advantage Twitter and Facebook.

10.For the development of e-commerce in your country, what can you learn from e-commerce in
China?
Answer: Electronic commerce is knowledge sharing business, building business relationships

maintaining business communication and making telecommunication networks, E-

commerce is a business model that the platform which is individuals, B2B, B2C buy and sell

things all over the internet. This report aims to focus overview of e-commerce, status, includes

the process of electronically buying and selling goods, services, and information. The paper shall

also list of applying the framework for electronic commerce. Also, discuss the constraints of e-

commerce development and technologies in Bangladesh.

The economic boom of Bangladesh is pretty consistent and showing an upward fashion

Last decade it has shown significant improvement, even throughout the world financial recession
the GDP growth become superb. Right now, it's far considered one of the quickest-developing

major economies within the international with a GDP growth rate of over 7.1%. It also was given

the eye and attention as one of the leading frontier marketplaces for global buyers. In 2016, the

IMF said that it was the 2d fastest growing important economy in the international.

Despite being a under developed country, selected segments of the Bangladeshi business

Community have embraced technology with reasonable success. Personal computers and the

Internet are also emerging as day-to-day business tools. These positive indicators are favoring

the prospects of e- commerce in Bangladesh. The most common sectors are: RMG Sector,

Banking on the Web (Online Banking), Online Shopping, Web Hosting, Domain, Online cards,

gifts, pay bill, Education etc.

 The China e-commerce market is the largest in the world with a volume of 1.94 trillion USD in
2019.
 That is plus 27% year over year and a quarter of China’s total retail sales volume.
 As such, China’s e commerce sector is more than three times the size of the US market, which
ranks second.

A booming market:

China’s economy continues to grow steadily as it ended 2017 with GDP at 6.8%, according to China’s
National Bureau of Statistics (NBS). In line with this positive momentum, at Nielsen we saw China’s
consumer confidence index (CCI) reach a historic high of 114 points in both the third and fourth quarters
of 2017, up two points from the second quarter of 2017 and six points from 108 in the fourth quarter of
2016.

There are lots of things you can eye on china’s e commerce trends but I want to add some key point and
those are given below:

 Mobile payment
 Mobile commerce
 Cross-Border E Commerce
 E commerce shopping festival
 Consumption upgrade
 New retail online and offline are merging rather than competing
 Digital payment
 From online platform to media platform.