Final answer:
Success in Web-based online shopping for companies like L.L. Bean depends on offering a money-back guarantee, maintaining a reputation for quality, and leveraging communications technologies to compete in a globalized market.
Step-by-step explanation:
In order to be successful with Web-based online shopping, companies must address the challenge of imperfect information. This issue arises because customers cannot physically interact with the products they are interested in. Companies like L.L. Bean overcome this by offering a money-back guarantee and establishing a reputation for quality. Additionally, the shifts towards technology and globalization mean that businesses must compete in a larger market. Therefore, they should leverage communications technologies and create accessible, user-friendly websites that can reach global consumers.
For efficient handling of a highly competitive market, businesses should embrace business-to-business (B2B) platforms to find suppliers and buyers worldwide, ensuring their market presence is pronounced and recognized in the global arena.