Ch. 5 E-commerce

Question 1

commerce but it is commerce accelerated and enhanced by IT, in particular the internet.

Answer 1

e-commerce

Question 2

a formal business plan that outlines key business issues such as customer targets, marketing strategies, operations strategies, and projected targets for income statement and balance sheet items

Answer 2

(P2P) path to profitability

Question 3

occurs when a business sells products and services to a gov entity

Answer 3

B2G

Question 4

occurs when an individual sells products and services to a government entity

Answer 4

C2G

Question 5

occurs when a government entity sells products and services to businesses

Answer 5

G2B

Question 6

refers to the electronic commerce activities performed between a government and its citizens or consumers including paying taxes, registering vehicles, etc

Answer 6

G2C

Question 7

refers to the electronic commerce activities performed within a nation’s gov or between two or more nations’ govs including providing foreign aid and the sharing of border patrol activities

Answer 7

G2G

Question 8

occurs when a business sells products and services to customers who are primarily other businesses

Answer 8

B2B e-commerce

Question 9

occurs when a business sells products and services to customers who are primarily individuals

Answer 9

B2C

Question 10

occurs when an individual sells products and services to a business

Answer 10

C2B

Question 11

affiliate programs are another example of C2B e-commerce. ex. selling advertising space to amazon on your website and earning commission from them

Answer 11

affiliate program

Question 12

occurs when an individual sells products or services to another individual

Answer 12

C2C

Question 13

a site that derives its revenue by selling advertising space, much like the concept of an affiliate program

Answer 13

ad-supported

Question 14

the ability of an organization to give its customers the opportunity to tailor its product or service to the customer’s specifications

Answer 14

mass customization

Question 15

materials that are necessary for running a modern corporation, but do not relate the the primary business activities

Answer 15

MRO/indirect materials

Question 16

the combining of purchase requests from multiple buyers into a single large order, which justifies a discount from the business

Answer 16

demand aggregation

Question 17

materials that are used in production in a manufacturing company or are placed on the shelf in a retail environment

Answer 17

direct materials

Question 18

the process in which a buyer posts its interest in buying a certain quantity of items with notations concerning quality, specification, and delivery timing, and sellers compete for the business by submitting successively lower bids until there is only one seller left

Answer 18

reverse auction

Question 19

an interactive business providing a central market space where multiple buyers and suppliers can engage in e-commerce and other business activities

Answer 19

electronic-marketplace

Question 20

an electronic marketplace that connects buyers and sellers across many industries, primarily for MRO materials commerce

Answer 20

horizontal e-marketplace

Question 21

the set of marketing tools that your organization will use to pursue its marketing objectives in reaching and attracting potential customers

Answer 21

marketing mix

Question 22

an electronic marketplace that connects buyers and sellers in a given industry

Answer 22

vertical e-marketplace

Question 23

small advertisements that appear on other sites

Answer 23

online ads

Question 24

small advertisements that appear on other sites

Answer 24

online ads

Question 25

small web page containing an ad that appears on your screen outside the current web site loaded in your browser

Answer 25

pop up ad

Question 26

a form of a pop up ad that you do not see until you close your current browser window

Answer 26

pop under ad

Question 27

encourages users of product or service supplied by a B2C business to encourage friends to join in as well

Answer 27

viral marketing

Question 28

an arrangement between two e-commerce sites that direct viewers from one site to another

Answer 28

affiliate program

Question 29

a count of the number of people who visit one site, click on an ad, and are taken to the site of the advertiser

Answer 29

click-through

Question 30

the percentage of potential customers who visit your site who actually buy something

Answer 30

conversion rate

Question 31

an internet based company that makes it easy for one person to pay another person or organization over the internet ex. paypal

Answer 31

financial cybermediary

Question 32

a mechanism for sending money from your checking or savings account to another person or organization

Answer 32

electronic check

Question 33

a system that sends bills over the internet and provides an easy to use mechanism to pay for them if the amount looks correct

Answer 33

electronic bill presentment and payment

Question 34

plastic card the size of a credit card that contains an embedded chip on which digital info can be stored and updated

Answer 34

smart card

Question 35

both software and info that provides security for transaction and info including payment info and delivery info

Answer 35

digital wallet

Question 36

the direct computer to computer transfer or transaction info contained in standard business documents, such as invoices and purchase orders in standard format

Answer 36

(EDI) electronic data interchange

Question 37

a B2B service that offers information-sharing intermediary services between organizations based on various standards regarding the format of the info and how it will be sent and received

Answer 37

(VAN) value added network

Question 38

the electronic process used primarily within the B2B e-commerce model for the payment for purchases

Answer 38

financial EDI - financial electronic data interchange

Question 39

scrambles the contents of a file so that you can't read it without having the right decryption key

Answer 39

encryption

Question 40

an encryption system that uses 2 keys; a public and a private one

Answer 40

public encryption key (PKE)

Question 41

creates a secure and private connection, encrypts the info, and sends info over the internet

Answer 41

(SSL) secure sockets layer

Question 42

a transmission security method that ensures transactions are legitimate as well as secure

Answer 42

(SET) secure electronic transfer

Question 43

the 80/20 tail of a sales curve

Answer 43

long tail economics

Question 44

when businesses provide enabling technologies that allow people instead of designated employees to create, modify, and oversee the development of a product or service

Answer 44

crowdsourcing

Question 45

a broad term describing your ability to use technology to wirelessly connect to and use centrally located information and/or applications software

Answer 45

mobile computing

Question 46

electronic commerce conducted over a wireless device such as a smartphone, laptop, or tablet

Answer 46

mobile commerce