Module1 Understanding E Commerce
Updated: February 24, 2025
Summary
The video explores the world of e-commerce, focusing on how goods and services are bought and sold online. It discusses the key participants in the ecosystem such as manufacturers, retailers, and customers, each playing crucial roles in the process. Benefits of e-commerce include reduced costs, automated operations, and the ability to reach global markets efficiently. Embracing e-commerce is vital for businesses to secure a strategic position, connect with digitally savvy consumers, and thrive in the global marketplace.
Introduction to E-Commerce Revolution
Exploration of the concept of transforming the way we buy and sell goods and services, entering the world of e-commerce where fashion, electronics, and other goods and services are traded online.
Goods and Services through Electronic Systems
Discussion on purchasing, selling, and exchanging products through online platforms, involving various participants in the ecosystem like manufacturers, retailers, and customers.
E-Commerce Ecosystem and Participants
Explanation of the roles played by different participants in the e-commerce ecosystem, including manufacturers, retailers, and customers, making up the addition, advertising, and crucial roles.
Business Advantages and Cost Reduction
Exploration of business benefits including reduced investment, transaction costs, automated operations, saving time, breaking geographic barriers, and reaching global markets.
Strategic Positioning and Digital Connectedness
Importance of embracing e-commerce for businesses to secure a strategic positioning, capture the attention of digitally connected e-commerce, and succeed in the global market.
FAQ
Q: What is e-commerce?
A: E-commerce is the concept of buying and selling goods and services online, without the need for physical storefronts.
Q: Who are the key participants in the e-commerce ecosystem?
A: The key participants in the e-commerce ecosystem include manufacturers, retailers, and customers.
Q: What are the roles played by manufacturers in e-commerce?
A: Manufacturers in e-commerce are responsible for adding products to online platforms and supplying goods.
Q: How do retailers contribute to the e-commerce ecosystem?
A: Retailers play a crucial role in e-commerce by advertising products, managing inventory, and facilitating transactions.
Q: What benefits do businesses derive from embracing e-commerce?
A: Businesses benefit from reduced investment, lower transaction costs, automated operations, time savings, expanded market reach, and breaking geographical barriers by adopting e-commerce.
Q: Why is it important for businesses to embrace e-commerce?
A: Businesses need to embrace e-commerce to secure strategic positioning, attract digitally connected consumers, and succeed in the global market.
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