Ch.7 Ebusiness and Ecommerce Flashcards
Acct
E commerce
Buying, selling, transferring, or exchanging goods and services through computer network including the internet.
E business
In addition to buying and selling, it refers to servicing customers, collaborating with partners and performing transactions in an org.
Ecommerce has different forms depending on what?
The degree of digitization; the level of how commerce has transitioned from physical to digital.
Difference in traditional commerce and Ecommerce
For traditional both dimensions are physical and their org. are called Brick and mortar Org. While EC both dimensions are digital with coy called Virtual/ pure play org.
Coys with a mix of physical and digital dimensions are called ?
Partial EC also called Clicks and mortar org. or Clicks and bricks.
Types of EC
- Business to Consumer (B2C)
- Business to Business (B2B)
- Consumer to Consumer(C2C); ebay, facebook mktplace (auctions)
- Business to Employee(B2E); employee discounts
- E government; Can be Govt. to citizen or Govt. to business
- Mobile commerce; wireless env. using your phone to shop over the internet.
- Social commerce; social media
- Conversational commerce; online chatbox
What type of EC is conceptually similar to B2B?
Govt. to Business(G2B)
Major EC mechanism
- Auction; types - forward; the highest bidder wins and reverse auctions; the lowest price bedder wins (use of request for a quotation RFQ)
- Electronic Mktplace; associated with B2B EC
- Electronic Payment Mechanism
What is the most common type of auction for large purchases
Reverse Auction
What is Purchasing cards
Purchasing cards are the B2B equivalent of electronic credit cards (see Figure 7.2). In some countries, purchasing cards are the primary form of payment between companies. Unlike credit cards, where credit is provided for 30 days (for free) before payment is made to the merchant, payments made with purchasing cards are settled within a week.
Benefits and Limitation of EC
easy and convinient
lack of univerally accepete security standards
in less developed countries accessing the web is expensive
EC is not secure
Which EC is not large in volume but complex and why
B2C is complex bc there are lots of buyers from a relatively small mo. of sellers, B2B is large
Diiferences in B2B and B2C
B2B complexities tend to be more business-related, whereas B2C complexities tend to be more technical and volume-related.
E tailing
the direct sale of prod. and services through electronic storefront / e malls
Long tail ?
The name given for selling large no. of unique items in small quantities
Disintermediation
Elimination of intermediaries
Fintech
is an industry composed of companies that use technology to compete in the marketplace with traditional financial institutions and intermediaries in the delivery of financial services
Nodes
are computers that support blockchain network. Full keeps complete copy of blockchain ledger and Lightweight nodes downloads only a fraction.
Micro grids
is a self-sufficient energy system that serves a discrete area, such as a college campus or a neighborhood.
Issues in E tailing
Channel Conflict
Order Fulfillment
Personalised Pricing
Models of B2B
- Sell side marketplaces; org. sell
- Buy side
- Electronic exchanges
which of the model uses reverse auctionand which one uses forward auction
Buy side(group purchasing), sell side
Public Exchange private Exc.
Pub. exchange also called e marketplace are independently owned by a third party connecting many sellers and buyers. while priavtre has 1 buyer and many sellers
Types of Public Exchanges
Vertical- connect b& s in a given industry by consortium
Horizontal- connect b&s to many industries (used for MRO mat. maintainance, repairs&operating)
Functional - you can find a temp. office space in hours or months
Cybersquatting
refers to the practice of registering or using domain names for the purpose of profiting from goodwill or a trademark that belongs to someone else
