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ECOE > Basic E-commerce > Flashcards

Basic E-commerce Flashcards

Week 1

1
Q

Which product segments are bought most online?

A
  1. Health and beauty
  2. Food/Nearfood
  3. Home and garden
  4. Shoes & Personal Lifestyle
  5. Clothes

Netherlands statistic in order

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2
Q

Via which device do you buy online?

A
  1. Laptop
  2. Desktop
  3. Smartphone
  4. Tablet
  5. online instore
  6. Via internet or TV
  7. Other devise
  8. Unknown

Netherlands statistic in order

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3
Q

What is e-commerce?

A

E-commerce is trading in products or services using computer networks, such as the Internet.

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4
Q

What are the different types of e-commerce?

A
  1. Consumer - consumer C2C
  2. Consumer - business C2B
  3. Consumer - government C2G
  4. Business - consumer B2C
  5. Business - business B2B
  6. Business - government B2G
  7. Government - consumer G2C
  8. Government - business G2B
  9. Government - government G2G
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5
Q

3 examples of C2C

A
  1. eBay
  2. Social networks
  3. Influencers and reviews
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6
Q

3 example of C2B

A
  1. Priceline (Consumer makes offer)
  2. Consumer-feedback
  3. Communities/campaigns
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7
Q

An examples of C2G

A
  1. Feedback to government through pressure group or individual sites
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8
Q

3 examples of B2C

A
  1. Transactional: Amazon
  2. Media owner - News Corp
  3. Relationship building: BP
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9
Q

3 examples of B2B

A
  1. Transactional: Euroffice
  2. Media owned: Emap business publications
  3. Relationship - building: BP
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10
Q

An example of B2G

A

Feedback to government business and non-governmental organisations

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11
Q

3 examples G2C

A
  1. National government transaction: Tax - inland revenue
  2. National government information
  3. Local government services
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12
Q

2 examples of G2C

A
  1. Government services and transactions: Tax

2. Legal regulations

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13
Q

2 examples G2G

A
  1. Inter-government services

2. Exchange of information

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14
Q

How has the internet impacted industries in general and specific?

Producer, wholesaler, retailer, consumer = value chain

A

-Allowed procedures and wholesales to sell direct to consumers
-Impacted retailers
However
-Retailed reach and sell to more consumers; not tight to location

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15
Q

What is a recent additional impact to the internet value chain and it’s development?

A

Intermediaries.
They take percentages whilst connecting business and customers together

  • Booking.com
  • Insurance sites
  • Amazon (products)
  • B&Q (internationa example)
  • Spotify (product)
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16
Q

Internet is fostering transparency

What sites are making price and service factors more competitive between businesses?

A

Social media
Review sites
Comparison sites

-Customers are more aware then ever and can access info

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17
Q

Explain how the internet are lowering operational costs?

A
  • Starting a web shop is cheaper
  • Physical growth is only possible by opening more shops, online growth is 0
  • Online requires once only investment
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18
Q

Why is competing on price becoming very difficult?

Unless you are huge like Amazon

A

The marginal additional costs of more online turnover are (in theory) zero
-No matter how many customers you sell to, only have to add a server cost

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19
Q

Explain what the term

Mass individualisation refers to

A

The amount of data online serves to customers individually as business’ have to knowledge to create a MASS amount of tailored and personalised products.
-Makes competition for differentiation challenging

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20
Q

What is a main characteristic of online business that helps them dominate specific market segments?

A

SIZE of business

Big is beautiful again - bigger the business bigger the market

21
Q

What are the 2 “new rules” of the internet?

A
  1. Mass individualisation

2. Low operational costs

22
Q

How to use the new rules to a business advantage?

Amazon knows how…

A
  1. Create a huge offering - mass individualisation
  2. Focus on creating seemless customer experiences
  3. Lower cost structure and prices - Amazon users hold inventory risk and the rest of the selling work - Amazon acts as intermediary

-All traffic goes Amazon’s way, forcing sellers to nearly having to use Amazon’s platform

23
Q

What are the 4 rising retail models (caused by internet)?

A
  1. Generic model
  2. Vertical model
  3. Specialist model
  4. Market maker model

This is the market space

24
Q

What is this retail model about?

Generic model

A

Sells a broad and deep of 3rd party brand assortment on a 1 to 1 basis

ING, Bol.com

25
Q

What is this retail model about?

Vertical model

A

Vertical retailers (brands) designs, manufactures, sells & distributes own products to a specific community (niche)

HEMA, KLM

26
Q

What is this retail model about?

Specialist model

A

Sells a limited assortment of 3rd party products but adds value in service and advice

Garden sites, Kuoni

27
Q

What is this retail model about?

Market Maker model

A

Market marker bring supply /demand together without own inventory/customer ownership

Amazon, Booking.com

28
Q

What are Optimizers?

A

Thos who use the internet to optimize their exiisiiting retail model

This is the twilight zone

Free record shop

29
Q

What are service providers?

A

Those who offer (back office) services to (online) retailers

Post.nl

30
Q

Name other more traditional retail models…

A
  1. Marketplace position
  2. Revenue model
  3. Commercial model
31
Q

Traditional retail models:
Businesses using a…

Marketplace position model

A
  1. Manufacturer or primary service provider (Book publisher)
  2. Reseller/retailer (intermediary) Amazon
  3. Marketplace/exchange (intermediary) (Yahoo)
  4. Media owner or publisher (intermediary)
  5. Supply chain provider or integrator
  6. Not-for-profit organisation
32
Q

Traditional retail models:
Businesses using a…

Revenue model

A
  1. Direct product sales or product or service (Book publishers)
  2. Subscription or rental of service
  3. Commission-based sales (affiliate, auction, marketplace)
  4. Advertising (Banners, ads, sponsorship)
  5. Sales of syndicated content or services (for media owners)
33
Q

Traditional retail models:
Businesses using a…

Commercial model

A
  1. Fixed-price sales
  2. Brokered or negotiated deal
  3. Auction or spot
  4. Product or service bundling
  5. Loyalty-based pricing or promotions
34
Q

How can small companies compete with the bigger online players?

A

They focus on one pillar and turn it into a proposition (Focus on excellent customer service, price only (USP))

35
Q

What are the 5 business “pillars”?

A
  1. Service/Advice
  2. Assortment (range)
  3. Convenience (postage etc)
  4. Experience (service)
  5. Price (cheapest)
36
Q

Name three strengths and weaknesses of stores versus online shopping…

A

Strengths:
1. Personal and in contact service
2. Direct product sales
3. Consumers cannot compare product info
Weaknesses:
1. More operational costs
2. Lack of fast and positive reviews to influence purchase
3. Less operational hours (convenience is better online)

37
Q

Characteristics of a single channel…

A
  1. Customer experience a single touch-point
  2. Retailers have a single type of touch-point

(The legacy)

38
Q

Characteristics of a multi-channel…

A
  1. Customer sees multiple touch-points acting independently
  2. Retailers channel knowledge and operations exist in technical and functional

(The reality) AH

39
Q

What is a technical and functional silo

A

silo describes any management system that is unable to operate with any other system, meaning it’s closed off from other systems. Silos create an environment of individual and disparate systems within an organization.

40
Q

Characteristics of a cross-channel…

A
  1. Customer sees multiple touch-point as part of the same brand
  2. Retailers have a ‘single view of the customer but operate in functional silos

(The aspiration)

41
Q

Characteristics of a omni-channel…

A
  1. Customer experience a brand, not only a channel within a brand
  2. Retailers leverage their singe view of the customer in coordinated and strategic ways

Netflix
(The dream)

42
Q

Why should a business serve their customers across all channels?

A

They can reach more customers as there is more information gathering and the purchase from info gathering rate is higher for online

43
Q

What are 5 points of the decision cycle when a person makes a purchase that they haven’t owned?

A
  1. Dreaming
  2. Researching
  3. Booking
  4. Experience
  5. Sharing
44
Q

What are the 6 steps of a customer journey?

A
  1. Orient (activate)
  2. Search (inform)
  3. Customise (configure)
  4. Purchase (Sell)
  5. Play (support)
  6. Share (stimulate)
45
Q

What is the definition of customer journey?

A

A description of modern multichannel behavior as consumers use different media to select suppliers, make purchases and gain customer support

46
Q

What makes it complex for multi/omni channels to support the customer journey?

A

To many different…

  1. Users
  2. Goals
  3. Channels

which are active 24/7

47
Q

What is data?

A

Raw and unorganised information that refer to, or represent, condition, ideas, or objects
-Data is limitless and is present everywhere in the universe

48
Q

4 things Data is used for…

A
  1. Solve complex scientific/military/social/medical problems
  2. Organising the financial markets
  3. Screening (& predict) behaviour of people
  4. Marketing and persuation
49
Q

What is an algorithm?

A

Designed step by step procedure to perform an operation and which will lead to the sought result if followed correctly

  • produces the same output information given the same input information
  • several short algorithms can be combined to perform complex tasks such as writing a computer program.

ECOE (2 decks)

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