QuestionJune 2, 2025

3. Which of the following are advantages of starting an online business?Select all that apply.

3. Which of the following are advantages of starting an online business?Select all that apply.
3. Which of the following are advantages
of starting an online business?Select all
that apply.

Solution
4.6(218 votes)

Answer

Cost efficiency, access to a global market, flexibility and convenience, scalability. Explanation 1. Identify Cost Efficiency Online businesses often have lower startup and operational costs compared to physical stores due to savings on rent and utilities. 2. Access to a Global Market An online presence allows businesses to reach customers worldwide, expanding their potential market significantly. 3. Flexibility and Convenience Online businesses can operate 24/7, providing flexibility for both owners and customers. 4. Scalability Online businesses can scale more easily by adjusting digital marketing strategies and inventory without significant physical constraints.

Explanation

1. Identify Cost Efficiency<br /> Online businesses often have lower startup and operational costs compared to physical stores due to savings on rent and utilities.<br /><br />2. Access to a Global Market<br /> An online presence allows businesses to reach customers worldwide, expanding their potential market significantly.<br /><br />3. Flexibility and Convenience<br /> Online businesses can operate 24/7, providing flexibility for both owners and customers.<br /><br />4. Scalability<br /> Online businesses can scale more easily by adjusting digital marketing strategies and inventory without significant physical constraints.
Click to rate:

Similar Questions