Вопрос
QUESTION FIVE a) Highlight FOUR differences between goods and services (4 marks) b) Using local examples in Kenya, explain e-commerce business (6 marks) c) Explain FIVE challenges that local businesses experience. (10 marks)
Решения
4.5
(286 Голоса)
Эмиль
мастер · Репетитор 5 лет
Ответ
a) Four differences between goods and services:1. Tangibility: Goods are tangible items that can be physically touched and seen, while services are intangible activities or benefits provided to consumers.2. Durability: Goods are physical items that can be stored and used over time, whereas services are consumed at the point of delivery and cannot be stored.3. Ownership: Ownership of goods is transferred to the consumer upon purchase, while ownership of services is not transferred; instead, the consumer benefits from the service provided.4. Perishability: Goods can be produced and stored for future use, while services are perishable and must be consumed at the time they are provided.b) E-commerce business in Kenya:In Kenya, e-commerce businesses have gained popularity due to the increasing use of technology and the internet. One example of an e-commerce business in Kenya is **Konga**, which offers a wide range of products such as electronics, clothing, and household items. Another example is **Jumia**, which provides online shopping and delivery services, allowing consumers to browse and purchase products from various sellers. These platforms have made it convenient for consumers to shop from the comfort of their homes, and for businesses to reach a wider audience.c) Five challenges that local businesses experience:1. Limited access to finance: Many local businesses struggle to secure funding for expansion, investment, or day-to-day operations due to limited access to financial resources and high-interest rates.2. Competition from multinational corporations: Local businesses often face stiff competition from multinational corporations that have more resources, brand recognition, and market presence.3. Regulatory challenges: Local businesses may encounter difficulties in navigating complex regulatory environments, such as obtaining licenses, complying with tax laws, and adhering to industry standards.4. Skills gap: There may be a shortage of skilled personnel to manage various aspects of the business, such as marketing, finance, and human resources, which can hinder growth and efficiency.5. Infrastructure limitations: Inadequate infrastructure, such as poor transportation networks, unreliable electricity supply, and limited access to quality raw materials, can pose challenges for local businesses in terms of production, distribution, and overall competitiveness.