Page 37 - THE CARIBBEAN ADVANCED PROFICIENCY EXAMINATIONS

UNIT 2
MODULE 3: MANAGING AND GROWING THE VENTURE (cont’d)

(iv) on-going investment of resources; and,

(v) data mining.

(d) Assessing the online potential of the venture:

(i) appeal to customers;

(ii) target market;

(iii) distribution cost; and,

(iv) costs and benefits.

(e) The benefits of a website in selling through the Internet:

(i) capacity to enhance customer service;

(ii) interactive communication;

(iii) lower cost of doing business; ability to grow faster;

(iv) track sales results; and,

(v) ability to spot new business opportunities.

(f) Myths about E-Commerce:

(i) setting up the site is easy and inexpensive;

(ii) customers will flock to my site;

(iii) making money is easy;

(iv) privacy is not an important issue;

(v) technology is the most important element;

(vi) do not need a strategy only a site; and,

(vii) customer service is not as important as in traditional retail store.

CXC A31/U2/13 32 www.cxc.org