Practitioners Recognized the Need to Differentiate Businesses Before and After

question 191

Essay

Practitioners recognized the need to differentiate businesses before and after the Internet became an integral part of marketing. They have coined the term "pure-play online competitors" to
describe businesses that uses the Internet in their day-to-operation. List three ways that a pure play online business differs from the more traditional, pre-Internet business.

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Definitions:

Binding Price Ceilings

A legally imposed maximum price on goods or services that is below the equilibrium price, causing shortages and rationing.

Illegal Activity

Illegal activity encompasses actions that violate laws, including crimes such as theft, fraud, and assault, forbidden by societal legal frameworks.

Wasted Resources

A form of inefficiency in which people expend money, effort, and time to cope with the shortages caused by a price ceiling.

Surplus

The amount by which the supply of a product exceeds its demand, often leading to lower prices.