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Opportunities and Problems of Social Electronic Commerce BUSN20016

   

Added on  2020-03-04

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Running head: OPPORTUNITIES AND PROBLEMS OF SOCIAL ELECTRONICCOMMERCEOpportunities and Problems of Social Electronic CommerceName of Student:Name of University:Author’s Note:
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1OPPORTUNITIES AND PROBLEMS OF SOCIAL ELECTRONIC COMMERCETable of ContentsIntroduction......................................................................................................................................2Project Objective.............................................................................................................................2Project Scope...................................................................................................................................3Literature Review............................................................................................................................3Challenges for Social E-Commerce.................................................................................................7Opportunities for Social E-Commerce............................................................................................7Conclusion.......................................................................................................................................8Reference List................................................................................................................................10
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2OPPORTUNITIES AND PROBLEMS OF SOCIAL ELECTRONIC COMMERCEAnswer to Question 1:Introduction In general social media and ecommerce are considered as one of the most fastest andsophisticated successor of the old fashioned advertising trends. It has been observed that socialnetwork has allowed people for exchange of views and share their experience of the transactions.The rise of social search in the search engines has been identified as the main source to findinformation related to products, which has led to popularity of Social e-commerce. In severaloccasions the consumers don’t search the entire internet, but often contact with their respectivefriends on Facebook or contacts on LinkedIn or Twitter. It has been often seen that consumers ofall age group share stheir respective experience on the products and brands and consider thebuying it only when recommended by others. In the leading ecommerce sites, it has been seenconsumer rating feedback and product ratings play a vital aspect of social ecommerce (Ijctet.org.2017). The report has aimed to review the literature associated to the general opportunities andthe challenges social ecommerce and then further prepare a propose a study to state about thepresent challenges.Project Objective The various types of the process objective have been stated below as follows:To know about the general opportunities and challenges in social ecommerceTo know about the relevance of social ecommerce in the recent timesTo know about the current opportunities in social ecommerce
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3OPPORTUNITIES AND PROBLEMS OF SOCIAL ELECTRONIC COMMERCETo know about the current challenges in social ecommerce To suggest strategies to overcome the challenges in social ecommerceProject Scope The project has been seen with a limited scope in the areas of social ecommerce. It hasnot shown the in-depth analysis of the challenges and opportunities in ecommerce, instead theresearch will focus on the relevant facets of social ecommerce.Literature Review Social E-CommerceThe term was coined in November 2005 by Yahoo to support the collaborative shoppingtools such as user rating, shared pick lists and user generated content for online productinformation and advice. Social E-Commerce is considered as a subset of general ecommerce andit involves the consideration of online media and social media to support the user contributionsand social interactions in assisting of the online buying and selling process. The use of the socialecommerce has been seen to be evident in use with social network(s) in the context of e-commerce transactions. The process of social ecommerce has been seen to assist the companiesin engaging in terms of brands as per social behaviour of the customers. It has been further ableto provide incentives for the customer to come back to their websites. It also provides theopportunities to the customers to talk about the brand. It has been also seen to provide theopportunity to compare and choose the competitor (Visenze.com. 2017).The main elements of social commerce are stated below as follows:
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