What are the psychological factors behind e-commerce? Consider the point of view of the consumer as well as the seller.

Answered: What are the psychological factors…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Question

What are the psychological factors behind e-commerce? Consider the point of view of the consumer as well as the seller.

Expert Solution

Background

All business activities and transactions when done online as compared to physical modes tend to occur faster due to technology. Speedily actions can even be applied when responding to market demands, customer queries, supplier needs, etc.

Merchants/sellers can create deals, promotions quickly to attract customers, and thus increase their chances of creating more sales. E-Commerce allows multiple payment modes such as UPI, cash on delivery, card on delivery, net banking, EMIs on credit or debit card, etc.