Question

Knowledge increases exponentially" is a phrase with which we are all familiar. How does this concept apply to electronic business and the emergence of the digital firm? Support your contentions

Answer 1

Electronic business has made shopping easy for both sellers and consumers. In addition to that, both the customer/consumers and Manufacturers/sellers get to know more about each other.

Sellers or manufacturers are aware about the new technologies arriving at the market and which one is more preferable among the consumers. Consumers have a huge variety of options and parameters to choose what they want with comparable prices. The knowledge has really increased exponentially among both consumers and sellers. Even kids are aware of varieties in the market after the emerge of digital market.

Business-to-consumer (B2C) model, which is defined by selling products directly to retail consumers online. Under the business-to-business (B2B) model, companies use the internet to conduct transactions with one another. Unlike B2C transactions, in which sellers offer products and services online and buyers purchase them via the internet, B2B transactions usually involve multiple online transactions at each step of the supply chain.

The consumer-to-business (C2B) model defines a type of e-business where consumers create their own value and demand for products. Reverse online auctions are examples of C2B e-business models, as are airline ticket websites, like Priceline. Under the consumer-to-consumer (C2C) e-business model, consumers are both buyers and sellers via third party-facilitated online marketplaces, such as eBay. These C2C e-business models generate revenue through personal ad fees, charging for memberships/subscriptions and collecting transaction fees.