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NCERT · Class 11 · Business Studies

Chapter 5: Emerging Modes of Business

Practice each question, then open the answer or worked solution.

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Textbook exercises

12 questions
Q11Written answer

Compare and contrast the products and their prices available on the internet and in retail shops. Is quality, customer satisfaction, and other factors the same?

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Worked solution

Ans: The contrast between the prices of few products are:

Product

Retail price

Online price

Patanjali aloe vera gel

90

84

Dabur Rosewater

75

72

Nivea cream

95

87


No, the factors are not same in online and traditional shopping, because of differences in:

  • Price: The price of products online are less than that of retail. Hence, buying products online is a better option in terms of pricing requirements. 

  • Quality: For products other than daily use, such as clothes, shoes etc, their quality could not be checked while making a purchase online, and there are chances that the product delivered does not match the quality expected. Also, chances are there that your order reebok shoes, and the product delivered is of company reebook.

  • Return policy: Most of the online sites offer easy return and exchange policies, whereas return and exchange is not much possible in traditional purchasing.

  • Time and cost saving: In this fast paced, busy world, Online shopping is more convenient, time and cost saving, as we do not need to roam here and there looking for a certain product.

  • Delivery: During traditional shopping, the delivery of the product is made at the same time of purchase, however in case of online shopping, delivery can be delayed due to several reasons.

  • Customer satisfaction: This is a subjective aspect, people who have wide knowledge of online shopping can make the best use of it, and get maximum customer satisfaction. While people with less knowledge may prefer retail shopping, and have better customer satisfaction shopping traditionally.

Q12Written answer

Study any business unit/company which is using e-commerce, e-business as a way of doing business. Interview some people working there and find out the advantages in practical business in terms of its costs also.

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Worked solution

Ans: Assuming a business unit named XYZ that runs the business of electronics products using e-commerce. After interviewing some people, the following are the advantages of running an e-business.

  • Communication is faster and easier.

  • Expanded marketing reach and capabilities.

  • Extended operating hours (a website provides 24 hour 7 day information to existing and potential customers)

  • Research provides access to more information

  • Lowering transaction costs and boosting efficient payment methods, such as using online banking and decreasing stationery and postage expenses, to reduce the cost of conducting business.

  • The potential for new business models to emerge, as well as the development of customised customer assistance.