Final answer:
Option 2) 'Relatively inexpensive when compared to number of customers reached' is not a limitation of e-commerce, but rather an advantage that benefits companies like L.L. Bean. They overcome other limitations of e-commerce with a money-back guarantee and a strong reputation for quality.
Step-by-step explanation:
The student's question pertains to the limitations and advantages of e-commerce. Among the provided options, the one that is not a limitation is number 2), which states that e-commerce is 'Relatively inexpensive when compared to number of customers reached.' This is indeed an advantage, as e-commerce platforms allow businesses like L.L. Bean to market and sell their products to a vast audience worldwide at a relatively low cost, especially given the minimal physical presence required.
Firms like L.L. Bean, that focus on sales through mail, telephone, and websites, can face challenges such as imperfect information due to customers not being able to touch or feel the products before purchasing. However, by offering a money-back guarantee and maintaining a reputation for quality, these companies can thrive despite the limitation of not having a physical store presence. Moreover, the rise of the Internet and global connectivity has increased competition but also expanded market reach, making globalization and technology key factors in modern e-commerce strategies.