Ch. 5 E-commerce Flashcards
commerce but it is commerce accelerated and enhanced by IT, in particular the internet.
e-commerce
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
(P2P) path to profitability
occurs when a business sells products and services to a gov entity
B2G
occurs when an individual sells products and services to a government entity
C2G
occurs when a government entity sells products and services to businesses
G2B
refers to the electronic commerce activities performed between a government and its citizens or consumers including paying taxes, registering vehicles, etc
G2C
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
G2G
occurs when a business sells products and services to customers who are primarily other businesses
B2B e-commerce
occurs when a business sells products and services to customers who are primarily individuals
B2C
occurs when an individual sells products and services to a business
C2B
affiliate programs are another example of C2B e-commerce. ex. selling advertising space to amazon on your website and earning commission from them
affiliate program
occurs when an individual sells products or services to another individual
C2C
a site that derives its revenue by selling advertising space, much like the concept of an affiliate program
ad-supported
the ability of an organization to give its customers the opportunity to tailor its product or service to the customer’s specifications
mass customization
materials that are necessary for running a modern corporation, but do not relate the the primary business activities
MRO/indirect materials
the combining of purchase requests from multiple buyers into a single large order, which justifies a discount from the business
demand aggregation
materials that are used in production in a manufacturing company or are placed on the shelf in a retail environment
direct materials
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
reverse auction
an interactive business providing a central market space where multiple buyers and suppliers can engage in e-commerce and other business activities
electronic-marketplace
an electronic marketplace that connects buyers and sellers across many industries, primarily for MRO materials commerce
horizontal e-marketplace
the set of marketing tools that your organization will use to pursue its marketing objectives in reaching and attracting potential customers
marketing mix
an electronic marketplace that connects buyers and sellers in a given industry
vertical e-marketplace
small advertisements that appear on other sites
online ads
small advertisements that appear on other sites
online ads
small web page containing an ad that appears on your screen outside the current web site loaded in your browser
pop up ad
a form of a pop up ad that you do not see until you close your current browser window
pop under ad
encourages users of product or service supplied by a B2C business to encourage friends to join in as well
viral marketing
an arrangement between two e-commerce sites that direct viewers from one site to another
affiliate program
a count of the number of people who visit one site, click on an ad, and are taken to the site of the advertiser
click-through
the percentage of potential customers who visit your site who actually buy something
conversion rate
an internet based company that makes it easy for one person to pay another person or organization over the internet ex. paypal
financial cybermediary
a mechanism for sending money from your checking or savings account to another person or organization
electronic check
a system that sends bills over the internet and provides an easy to use mechanism to pay for them if the amount looks correct
electronic bill presentment and payment
plastic card the size of a credit card that contains an embedded chip on which digital info can be stored and updated
smart card
both software and info that provides security for transaction and info including payment info and delivery info
digital wallet
the direct computer to computer transfer or transaction info contained in standard business documents, such as invoices and purchase orders in standard format
(EDI) electronic data interchange
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
(VAN) value added network
the electronic process used primarily within the B2B e-commerce model for the payment for purchases
financial EDI - financial electronic data interchange
scrambles the contents of a file so that you can’t read it without having the right decryption key
encryption
an encryption system that uses 2 keys; a public and a private one
public encryption key (PKE)
creates a secure and private connection, encrypts the info, and sends info over the internet
(SSL) secure sockets layer
a transmission security method that ensures transactions are legitimate as well as secure
(SET) secure electronic transfer
the 80/20 tail of a sales curve
long tail economics
when businesses provide enabling technologies that allow people instead of designated employees to create, modify, and oversee the development of a product or service
crowdsourcing
a broad term describing your ability to use technology to wirelessly connect to and use centrally located information and/or applications software
mobile computing
electronic commerce conducted over a wireless device such as a smartphone, laptop, or tablet
mobile commerce
