1. Write down in your own words, and, using examples such as Etsy.com, Craigslist, Facebook stores (store.fb) etc. how social shopping (i.e., e-commerce using social networks) is different from regular e-commerce stores that do not have a social-network component to it.
You could compare and contrast both approaches.
Clue: Use the concepts of network effects, social strength-of-ties, etc.
Limit: Answer should not exceed 20 lines in total.
Social commerce is more than a set of popular fashion words. It is much faster and, thanks to the checkouts of Chatbot and the Autofill for payment and delivery details, purchases do not usually take more than a handful of clicks. The Social Commerce shopping trip easily exceeds the shopping trip with which we are accustomed. Compared to traditional e-commerce platforms, social commerce is much easier. Most e-Commerce shopping trips are too complex relying on redirects from one platform to another. In essence, it is about making it easy for users to complete their purchase, eliminating the potential for confusion and, therefore, abandonment. It Is, in my opinion, capitalization on the point when the intent of buying a user and the excitement about his product is higher. Facebook has more than 2.32 billion people, which means that more than a third of the Earth's population has an active account, therefore, Facebook is, without doubt, the dominant factor of social commerce, there is a great potential audience, the network effect is proportional to the unlimited buying and selling options that Facebook offers.1-800-Flowers.com, Pampers, Disney, etc. begins to sell via Facebook recently, Facebook launches Facebook Marketplace, a competitor of Amazon, Etsy, and Google Shopping. On my own experience, I purchased a big mirror and my mountain bike trough Facebook Marketplace, and I was able to reconnect with many of my friends and close relatives that are living in other countries, I believe this is my best example about social strong strength-off-ties.
2. Let us assume that you want to sell watches in your e-commerce store that caters to the Miami- Ft. Lauderdale area. You choose Google Advertisements to promote your e-commerce store. You find that the total average impressions per month Google advertisements gives you for the keyword "Watches", "Swatch”, “clocks", is between 10000 - 20000 impressions per month, at a click rate of between 250 and 500 per month for a budget of 1500$ per month. Answer the following 4 questions:
PS: A conversion rate is the number of clicks divided by the number of impressions for an ad-campaign.
Notes: Please show your calculations, and also do not exceed 1-2 paragraphs for the answer.
Limit your time to 15 minutes for this answer.
1) What are the minimum, average and maximum values of Cost Per Click (CPC)?
- Minimum CPC is $1,500/500 clicks = $3.00
- Maximum CPC is $1,500/250 clicks = $6.00
- Average CPC is Total of Max. and Min. CPC which is $1,500/Avg. Clicks of 375 = $4
2) What ...
