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ASSIGNMENT 1: LITERATURE REVIEW.

   

Added on  2021-06-17

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Running head: ASSIGNMENT 1: LITERATURE REVIEWAssignment 1Literature ReviewOpportunities and problems of Social Electronic CommerceStudent’s name: Name of the university: Author’s note:
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1ASSIGNMENT 1: LITERATURE REVIEWTable of Contents1. Introduction..................................................................................................................................32. Project Objectives........................................................................................................................33. Project Scope...............................................................................................................................34. Literature Review........................................................................................................................44.1 Concept of social electronic commerce.................................................................................44.2 Types of social electronic commerce....................................................................................54.3 Elements of social electronic commerce...............................................................................54.4 Features of social electronic commerce.................................................................................64.5 Benefits of social electronic commerce for the business.......................................................84.6 Problems regarding social electronic commerce...................................................................94.7 Social electronic commerce and business application.........................................................104.8 Literature gap.......................................................................................................................115. Conclusion.................................................................................................................................12Reference List................................................................................................................................13Appendix........................................................................................................................................15
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2ASSIGNMENT 1: LITERATURE REVIEW1. Introduction Social electronic commerce is the subset of the e-commerce where the e-commerce sitesuse online social media to assist in selling and buying of the products and services. For the socialnetworking organisations and for the e-commerce; social e-commerce is the recent buzzword asit provides maximum leads (Sheriff 2016). With the advent of the technologies, millennialsmainly purchase from the e-commerce and before making a purchase; they always check theratings, reviews and social advertising of the same products and services. Good reviews andrating from the similar users provide the buyers confidence to purchase the products. Therefore,e-commerce organisations focus on making social communities usually at microeconomic scale.The defining features of social e-commerce are the sellers could be individual person and sellersinvolve n creation of the service or products. In this study, objectives and scope of the study aregiven. A literature review of the existing literature is explained with subheadings. Contrast andcontradictory explanation are given.2. Project ObjectivesTo explain the concept of social electronic commerce in a business applicationTo highlight the benefits of social electronic commerce through existing literature To find out the problems in social electronic commerce To find out the recent trends in social electronic commerce3. Project ScopeThe scope of the research is to focus on the recent concept in internet marketing andfewer amounts of researches have been done on social e-commerce. The scope of the study is to
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3ASSIGNMENT 1: LITERATURE REVIEWfind out the benefits and problems regarding the social e-commerce. The larger e-commerce canuse the concept of social e-commerce as they have large followers and customer base; however,smaller organisations can also use this strategy to convert the leads into customers. The businessapplication of the social e-commerce is described in this study where the personalised shops canuse the customer-driven online marketplace. The marketing managers of the e-commerce can getthe idea theoretical ideas of the social e-commerce.4. Literature Review 4.1 Concept of social electronic commerceSocial e-commerce is the subset of electronic commerce which involves the onlinemedia, social media and it supports users’ contributions and social interaction to help onlinepurchasing and selling of the services and products. As stated by Turban et al. (2017), in theirbook that social commerce can be used as the social network in the e-commerce transactions.The author further stated that social e-commerce is new and expanding strategy for the e-commerce organisations. The term social e-commerce is first coined in the year 2005 by Yahooand Yahoo used the term social e-commerce is to measure the product measure and interest fromthe customer base. Nowadays, social commerce was evolved towards the more defined set offeatures over the years. Spencer et al. (2014) supported this in their article by saying social e-commerce is a set of collaborative shopping equipment or tools. The idea of social electroniccommerce was researched and developed by David Beisel to focus on user-generated advertorialmatter or content on e-commerce sites. Further, Steve Rubel included the collaborative e-commerce tools to enable the shoppers to take the advice from the trusted buyers, find servicesand products and then purchase from this. Therefore, social e-commerce has its target to assist
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