Which of the following features of the Internet can enable businesses to lower barriers to entry and expand the market at the same time?Group of answer choicespersonalizationglobal reachrichnessinteractivity
Question
Which of the following features of the Internet can enable businesses to lower barriers to entry and expand the market at the same time?Group of answer choicespersonalizationglobal reachrichnessinteractivity
Solution 1
The features of the Internet that can enable businesses to lower barriers to entry and expand the market at the same time are:
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Personalization: This feature allows businesses to tailor their products or services to individual customers' needs. This can help businesses differentiate themselves from competitors and attract a wider range of customers.
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Global Reach: The Internet allows businesses to reach customers all over the world. This can significantly expand a business's market and allow it to enter new markets with lower barriers to entry.
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Richness: The Internet allows businesses to provide a rich amount of information about their products or services. This can help businesses better inform customers and attract a wider range of customers.
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Interactivity: This feature allows businesses to interact with customers in real-time. This can help businesses better understand their customers' needs and preferences, which can help them attract a wider range of customers and lower barriers to entry.
Solution 2
The features of the Internet that can enable businesses to lower barriers to entry and expand the market at the same time are:
-
Personalization: This feature allows businesses to tailor their products or services to individual customers' needs. This can help businesses differentiate themselves from competitors and attract a wider range of customers.
-
Global Reach: The Internet allows businesses to reach customers all over the world. This can significantly expand a business's market and allow it to enter new markets with lower barriers to entry.
-
Richness: The Internet allows businesses to provide a rich amount of information about their products or services. This can help businesses better inform customers and attract a wider range of customers.
-
Interactivity: This feature allows businesses to interact with customers in real-time. This can help businesses better understand their customers' needs and preferences, which can help them attract a wider range of customers and lower barriers to entry.
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