Chapter 1

Question 1

E-commerce Definition

Answer 1

e-commerce can be defined as digitally enabled commercial transactions between and among organizations and individuals.

There is an exchange of value.

Digital commerce is a synonim of e-commerce

Digital juggernauts// Building Blocks

Internet
Network on common standards
Web
It is a system that runs on the internet infrasttructure
Mobile Platform

All trends have a strong growth

Question 2

Difference with e-business

Answer 2

e-business
the digital enabling of transactions and processes within a firm, involving information systems under the control of the firm

E-commerce- There is an exchange of value.
Tx that cross firms boundaries

Question 3

Unique features of E-commerce technology

Answer 3

Ubiquity
Available everywhere, at all times

Global reach
Allow cross-cultural txs more convienient than traditional

Universal standard
Shared by all nation in the world

Richness
Complexity and content of a message
Deliver marketing messages alike

Interactivity
Allow two-way communication merchant and consumer

Information density
Total amount of quality information for all participants
Reduce cost of storage, processing and communication
Price transparency and cost transparency
Price discrimination(because of segmentation)

Personalization and customization
P////Targeting message to specific individuals
C//// Change deliver product based on user preference

Social technology
Millions of users generate content to millions of consumer

Question 4

Major types of e-commerce

Answer 4

1. B2C-Business to consumers
   Online retailer, service providers, transaction
   brokers, content providers, maket creators and
   portal
2. B2B-Business to Business
   Net market places
3. C2C Consumer to consumer
   ebay, craiglist and etsy/// facebook market place
4. Social E-commerce
   Enabled by social network and online social
   relationship
5. M-Commerce (mobile e-commerce)
   Depend on online digital devices
6. Local e-commerce
   Engaging customer based on his geographical
   location

Question 5

Evolution of e-commerce from its early years to today

Answer 5

Innovation
  Success early years 1995-2000
  Dissintermediation...a new relationship between 
  consumers and producers
  Friction free-commerce
  First mover
  Network effect

Consolidation
Between 2001 and 2006

Reinvention
In 2007 based on mobile digital platform, web2.0
Social network
Personalized marketing

Question 6

Mayor themes underlying the study of e-commerce

Answer 6

Technology
Basic info about info technologies.
Smartphones/ Tablet// Apps//
Smart Speaker
Cloud
Internet of things
Big Data- Understand patterns of consumption

Business
Marketing// advertising//On-demand services

Society
Intellectual Property, individual privacy and public policy

Question 7

Identify the disciplines contributing to e-commerce

Answer 7

Technical
Computer science, Operations management,

behavioral
Sociology, economics, finance, accounting, management and marketing

Question 8

information asynmetry

Answer 8

any disparity in relevant market information among parties in a transaction