IT2031 E-COMMERCE FIRST UNIT IMPORTANT 2MARKS - 7TH SEM IT REG-2008

Unit - 1

1.  Explain Traditional Commerce.

            Traditional Commerce is the process of buying, selling or exchanging products, services or information is physical, probably with the existence of a physical store.

2. Explain Electronic Commerce.

            Electronic commerce, commonly known as e-commerce or eCommerce, is a type of industry where the buying and selling of products or services is conducted over electronic systems such as the Internet and other computer networks

3. Describe Value Chains.

        A value chain is a chain of activities that a firm operating in a specific industry performs in order to deliver a valuable product or service for the market. (or)

A value chain for a product is the chain of actions that are performed by the Business to add value in creating and delivering the product.

4. Explain Internet.

            A global computer network providing a variety of information and communication facilities, consisting of interconnected networks using standardized communication protocols.

5. Explain WWW.

            The term WWW refers to the World Wide Web or simply the Web. It consists of all the public Web sites connected to the Internet worldwide, including the client devices (such as computers and cell phones) that access Web content.

6. Describe role of WWW.

·         Simplified access to the Internet.

·         Provides a client-server environment.

·         Supports multimedia (sound, video, as well as graphics)

·         Provides access to the wide and rapidly growing amount of information available.

·    Ability to easily deliver information in any format, to/from a wide range of computing platforms.

7. Describe role of E-Commerce.

·         Electronic banking

·         Electronic shopping

·         Conducting Auctions

·         Marketing and Advertising

·         Providing customer services

 8. Explain strategic Business and Industry value chains.

            The definition of business strategy is a long term plan of action designed to achieve a particular goal or set of goals or objectives.

            An Industry value chain is a chain of activities that a firm operating in a specific industry performs in order to deliver a valuable product or service for the market.

9. Describe Industry value chains.

            A value chain is a chain of activities that a firm operating in a specific industry performs in order to deliver a valuable product or service for the market.

10. Advantages and Disadvantages of E Commerce.

Advantages.

·         Faster buying/selling procedure, as well as easy to find products.

·         Buying/selling 24/7.

·         More reach to customers.

·         Low operational costs and better quality of services.

·         No need of physical company set-ups.

·   Customers can easily select products from different providers without moving around physically.

Disadvantages

·         There is no guarantee of product quality.

·         Mechanical failures can cause unpredictable effects on the total processes.

·         As there is minimum chance of direct customer to company interactions, customer loyalty is always on a check.

·      There are many hackers who look for opportunities, and thus an ecommerce site, service, payment gateways, all are always prone to attack.

11. Difference between E-Commerce and Traditional Commerce.

Sl.No	E-Commerce	Traditional Commerce
1	E-Commerce is buying and selling goods over the internet	Traditional Commerce is buying and selling goods and services physically
2	Operates at business hours within a certain period of time.	Operates at 24/7
3	No need of physical company set-ups.	Need of physical company set-ups.
4	Increase in variety of goods. Customer can see different branded items.	Customer can choose only some  branded items that was in the particular shop

12. What is Network?

            A network is a group of two or more computer systems linked together. There are many types of computer networks, including:

·         Local-area networks (LAN): The computers are geographically close together (that is, in the same building).

·         Wide-area networks (WAN): The computers are farther apart and are connected by telephone lines or radio waves.

·         Campus-area networks (CAN): The computers are within a limited geographic area, such as a campus or military base.

·         Metropolitan-area networks (MAN): A data network designed for a town or city.

·         Home-area networks (HAN): A network contained within a user's home that connects a person's digital devices.

14. What are the needs of E-Commerce?

·         Quick shopping and no need to visit marketplaces.

·         Amazing discounts and deals enabled through online platforms, good way to save money.

·         People can buy products available internationally.

·         Multiple payment modes make it easier to shop online.

·         Online shopping alerts make is easier for the users to grab quality shopping ideas.

·         Shopping anywhere, anytime.

15. HTTP Request & HTTP Response.

A HTTP request is the message that the client computer sends a request to access files from the server.

A HTTP response is the message that the Web server needs to return back to a Web client machine in response to an HTTP request from the same client machine.

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