Question

E-commerce, digital markets, and digital goods are increasing throughout society. After reviewing the key features of e-commerce, digital markets, and digital goods, why do you think firms are increasing the use of these tools? What benefits do these tools provide firms? What potential drawbacks do you see in the use of these tools? What are the benefits and drawbacks these tools bring to retailers?

Answer 1

E-commerce is a business model or a larger business model that allows companies or individuals through the electronic network and is usually the type of business segments in the internet.

Features of E-commerce

1.Ubiquity- The traditional business market is a physical place, access to treatment by means of document circulation.

2.Global Reach- E-commerce allows business transactions on the cross country bound can be more convenient and more effective as compared with the traditional commerce.

3.Universal Standards- E-commerce technologies is an unusual feature, is the technical standard of the Internet, so to carry out the technical standard of e-commerce is shared by all countries around the world standard

4.Richness- Advertising and branding are an important part of commerce. E-commerce can deliver video, audio, animation, billboards, signs and etc. However, it’s about as rich as television technology.

disadvantages of e-commerce

1.There can be lack of system security, reliability or standards owing to poor implementation of e-commerce

2.The software development industry is still evolving and keeps changing rapidly

3.In many countries, network bandwidth might cause an issue.

4.Special types of web servers or other software might be required by the vendor, setting the e-commerce environment apart from network servers