E-commerce

• What is the primary focus of e-commerce?

  More than marketing or selling
• How do successful e-commerce businesses invest in their operations?

  They develop IT systems and business processes
• What is a key strategic challenge for firms in e-commerce?

  Integrating e-commerce across all functional areas
• What is omnichannel retailing?

  A multichannel approach for seamless customer experience
• Why is seasonal demand significant in e-commerce?

  It creates predictable peaks in demand
• What does mass customization refer to?

  Offering a wide range of product choices
• How does e-commerce affect supply chains?

  It increases the need for digitized supply chains
• What is localization in marketing?

  Adapting marketing mix for specific markets
• What is dynamic pricing?

  Setting flexible prices based on market demand
• What does the term "long tail" refer to?

  Products that sell in small quantities online
• What are the key impacts of e-commerce on marketing?

  • Effective differentiation strategies
  • Shortened product life cycles
  • Increased digital promotion usage
  • Multiple distribution channels
  • Greater dynamic pricing use
  • Increased need for localization
  • Ability to sell a wider product range
• What are the key impacts of e-commerce on human resource management?

  • Broader digital skills required
  • Workforce planning for seasonal demand
  • Concerns over warehouse working conditions
  • Increased automation in e-commerce
• What are the key impacts of e-commerce on operations?

  • Complex logistics for e-commerce platforms
  • Emphasis on supplier relationships
  • Importance of economies of scale
  • Easier online selling for smaller firms
• What are the key impacts of e-commerce on finance?

  • Significant setup investment required
  • Greater use of multi-currency transactions
  • Significant impact of exchange rate changes
• What is a key evaluation point regarding e-commerce systems?

  Need for substantial investment to compete
• Why is recruiting digital skills important in e-commerce?

  Technology is complex and fast-changing
• What is a financial risk associated with e-commerce investments?

  No guarantee of success from investments
• What is the nature of most e-commerce investments?

  Long-term and transformational in nature