Chap 1 Flashcards
What is e-marketing?
The process of buying and selling or exchanging of products, services, and information via computer networks including the internet.
List the unique features of e-marketing.
- Ubiquity
- Global Reach
- Universal Standards
- Interactivity
- Richness
- Personalization/Customization
- Information Density
What does Ubiquity in e-marketing refer to?
Internet/web technology is available everywhere, including mobile devices.
Define Global Reach in the context of e-marketing.
Permits commercial transactions to cross cultural and national boundaries.
What is the significance of Universal Standards in e-marketing?
Technical standards of the internet and conducting e-marketing are shared by all nations around the world.
Explain Interactivity in e-marketing.
Technology that allows two-way communication.
What is the difference between Personalization and Customization?
- Personalization: targeting marketing messages to specific individuals
- Customization: changing the delivered product or service based on a user’s preference or prior behavior
What does Information Density mean in e-marketing?
The total amount and quality of information available to all market participants.
What are the five types of e-commerce models?
- Business to Consumer (B2C)
- Business to Business (B2B)
- Consumer to Consumer (C2C)
- Peer to Peer (P2P)
- M-Commerce
What is the B2C model?
Involves businesses selling products to individual consumers via the internet.
Describe the B2B model.
Involves business transactions between business entities, such as manufacturers supplying goods to retailers.
What is the C2C model?
Facilitates online transactions of goods or services between two consumers.
What does P2P stand for and what does it entail?
Peer to Peer; it helps people share computer files and resources directly without a central server.
Define M-Commerce.
Refers to the use of mobile devices for conducting transactions.
What are some technical limitations of e-marketing?
- System security and reliability issues
- Insufficient telecommunication bandwidths
- Evolving software development tools
List the benefits of e-marketing to organizations.
- Expands market to national and international levels
- Decreases costs of paper-based information
- Minimizes supply chain inefficiencies
- inexpensive customization that provides a competitive advantage
*Allows high degree of specialization - Low telecommunication costs
- Closer interactions with customers
What advantages does internet marketing provide?
- Faster & cheaper marketing campaigns
- Measurable results
- 24/7 marketing opportunities
- real time results monitoring
What challenges does e-commerce face?
- Low computer penetration
- Internet connectivity problems
Few internet users for transaction - Cybersecurity threats
Cybercrime
Viruses
Loss of personal touch
Legal issues
Purchase mistakes
What are the phases of e-marketing evolution?
- Bricks-and-mortar firms
- Clicks-only firms
- Bricks-and-clicks firms
Fill in the blank: E-business focuses on _______.
[Customers, Suppliers, Employees & Business Partners]
True or False: E-marketing allows for real-time results monitoring.
True
What is the primary focus of e-commerce?
Transactional processes of buying and selling.
What does the term ‘driving forces of electronic marketing’ refer to?
Factors that propel the adoption and effectiveness of e-marketing.
How does e-marketing impact the performance of businesses?
By providing research resources, elevating brands, and opening markets to new customer groups.
What’s the benefit of E marketing to society
*More ppl are working from home
* Less prices that improves standard of living
* Public services are delivered at a lower cost
What’s the benefit of E marketing to consumers
- 24/7 services of transaction
- provides more choices
- facilitates competition
What are the non technical limitations of E-marketing
- High cost of in house development
- lack of trust of paperless transactions
- liking to feel the product before purchase
- breakdown in human relationships
- internet access is still expensive / inconvenient
