chapter 1 Flashcards
Why should you study E-commerce
Rapid growth and change
Business fortunes are made - and lost - in periods of extraordinary change
It is important to study E-commerce in order to be able to perceive and understand the opportunities and risks that lie ahead
E-commerce
The use of the internet and web, mobile apps and browsers running on mobile devices, to transact business. More formally, digitally enabled commercial transactions between and among organizations and individuals
E-business
The digital enabling of transactions and processes within a firm, involving information systems under the control of the firm
Mobile platform
Provides the ability to access the internet from a variety of mobile devices such as smartphones and tablets
Major trends in E-commerce
Business
Technology
Society
Information asymmetry
Any disparity in relevant market information among parties in a transaction
Marketplace
Marketplace extended beyond traditional boundaries and removed from a temporal and geographic location
Reach
Total number of users or customers an E-commerce business can obtain
Universal standards
Standards that are shared by all nations around the world
Richness
The complexity and content of a message
Interactivity
Technology that allows for two-way communication between merchant and consumer
Information density
The total amount and quality of information available to all market participants
Personalization
The targeting of marketing messages to specific individuals by adjusting the message to a persons name, interest and past purchases
Customization
Changing the delivered product or service based on a users preferences or prior behavior
One-to-many broadcast model
Content is created in a central location by experts and audiences are concentrated in huge aggregates to consume a standardized product
E-commerce technology dimensions
Ubiquity
Global reach
Universal standards
Richness
Interactivity
Information density
Personalization/customization
Social technology
Ubiquity
(that e-commerce) is available just about everywhere at all times
Business to consumer E-commerce (B2B)
online businesses selling to individual consumers
Business to business (B2B= E-commerce
In which businesses focus on selling to other businesses, is the largest form of e-commerce
Consumer to consumer (C2C) e-commerce
Provides a way for consumers to sell to each other with the help of an online market maker
E.g. Ebay kleinanzeigen
Mobile E-commerce (M-commerce)
use of mobile devices to enable online transactions. M-commerce involves the use of cellular and wireless networks to connect smartphones and tablet computers to the internet. Once connected, mobile consumers can purchase products and services, make travel reservations etc.
Social E-commerce
E-commerce that is enabled by social networks and online social relationships
Local E-commerce
Is a form of E-commerce that is focused on engaging the consumer based on his or her current geographic location
Disintermediation
Displacement of market middlemen who traditionally are intermediaries between producers and consumers by a new direct relationship between producers and consumers
