QQ.1. What are the advantages and disadvantages of E-Commerce?
- Global Reach: E-Commerce enables businesses to transcend geographical limits, reaching a worldwide customer base 24/7.
- Cost Reduction: Lower operational overheads (rent, staff) and optimized inventory management reduce business expenses.
- Personalization: Data analytics facilitates tailored product recommendations and improved customer relationship management.
- Security Concerns: E-Commerce faces significant risks like cyberattacks, data breaches, and credit card fraud.
Answer: E-Commerce, as defined in the BCOS-184 E-Commerce course, refers to the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet. It encompasses various business models like B2C, B2B, C2C, and C2B, fundamentally transforming traditional commerce by leveraging digital technologies. Understanding its inherent benefits and drawbacks is crucial for businesses and consumers operating in the digital landscape. **Advantages of E...