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Chapter 1 Flashcards

1
Q

Enumerate 3 Commerce

A

Commerce
Traditional Commerce
Brick and Mortar

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2
Q

is defined as the exchange of goods and services between two or more entities physically.

A

Commerce

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3
Q

Refers to business transactions or information exchange, as well as buying and selling products from person to person.

A

Traditional Commerce

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4
Q

Traditional street-side business that offers goods and services to its customers face-to-face in an office or store that the business owns or rents. The local grocery store and the corner bank are examples of brick-and-mortar companies.

A

Brick and Mortar

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5
Q

Enumerate E-COMMERCE

A

E-Commerce
Digital Commerce
Online Selling

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6
Q

companies and individuals that buy and sell goods and services over the internet using technology such as Electronic Data Interchange (EDI) and Electronic Funds Transfer (EFT).

A

E-Commerce

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7
Q

it includes buying and selling goods and services online.

A

Digital commerce

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8
Q

is the act or process of selling products via an internet or mobile app, auction site, online classified advertisement, online shop, social networking, social media or web shop.

A

Online selling

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9
Q

is the structured transmission of data between organizations by electronic means. It is used to transfer electronic documents or business data from one computer system to another computer system.

A

Electronic Data Interchange (EDI)

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10
Q

is the electronic exchange or transfer of money from one account to another.

A

Electronic Funds Transfer (EFT)

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11
Q

refers to any business that applies internet technologies in its operation.

A

E-business

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12
Q

Conducting all business operations using digital technology.

A

E-business

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13
Q

is the process of buying and selling of goods and services online.

A

E-Commerce

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14
Q

Foundations of E-Commerce

A

1960s
1979
1982
1989

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15
Q

Electronic Data Interchange (EDI) was developed, allowing businesses to exchange documents electronically.

A

1960s

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16
Q

Michael Aldrich built the first online shopping platform using videotex. Modified TV set hooked to a telephone line. The platform failed.

A

1979

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17
Q

Boston Computer Exchange became the first online marketplace, selling used computers. They used minitel.

A

1982

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18
Q

Tim Berners-Lee invented the World Wide Web, paving the way for e-commerce websites.

A

1989

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19
Q

Birth of Online Shopping

A

1991
1994
1995
1998
1999

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20
Q

The Internet became publicly available, enabling online transactions.

A

1991

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21
Q

Netscape introduced SSL encryption, securing online payments.

A

1994

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22
Q

Amazon and eBay were launched, revolutionizing online retail and auctions.

A

1995

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23
Q

PayPal was founded, making online payments more secure and convenient.

A

1998

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24
Q

Alibaba launched, becoming a major B2B e-commerce platform.

A

1999

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25
E-Commerce Goes Mainstream
2000 2005 2008 2009
26
The dot-com bubble burst, but strong e-commerce players survived.
2000
27
Amazon Prime was introduced, offering fast shipping and boosting online shopping.
2005
28
Apple App Store launched, paving the way for mobile commerce (m-commerce).
2008
29
Bitcoin was introduced, opening possibilities for cryptocurrency transactions.
2009
30
Rise of Mobile & Social Commerce
2010 2011 2015 2016 2018
31
Instagram and Pinterest launched, influencing online shopping trends.
2010
32
Google Wallet launched, enhancing digital payments.
2011
33
Amazon launched Alexa, integrating AI into shopping experiences.
2015
34
Shopify grew, enabling businesses to set up online stores easily.
2016
35
TikTok gained popularity, later influencing social commerce.
2018
36
E-Commerce Boom & Future Innovations
2020 2021 2022 2023 2024 & beyond
37
The COVID-19 pandemic accelerated online shopping, with grocery delivery and e-learning surging.
2020
38
Live streaming e-commerce became a major trend in China and expanded globally.
2021
39
Metaverse shopping and AI-powered recommendations gained traction.
2022
40
TikTok Shop and social commerce grew significantly, changing how people shop online.
2023
41
Trends like voice commerce, drone deliveries, AI-driven personalization, and blockchain-based transactions continue to shape the future of e-commerce.
2024 & Beyond
42
ENUMERATE BUSINESS MODELS
B2B (Business to Business) B2C (Business to Consumer) C2B (Consumer to business) C2C (Consumer to Consumer) P2P (Peer to Peer)
43
refers to electronic trade that takes place between companies.
B2B (Business to Business)
44
Consumers are not involved.
B2B (Business to Business)
45
Producers buying components from suppliers and manufacturers selling finished goods to distributors.
B2B (Business to Business)
46
is the simplest and most recognizable form of e-commerce.
B2C (Business to Consumer)
47
Direct trade between companies and consumers.
B2C (Business to Consumer)
48
Online businesses sell goods and services to the general public.
B2C (Business to Consumer)
49
business model where individuals (consumers) create value that businesses consume.
C2B (Consumer to business)
50
Complete reversal of the traditional sense of exchanging goods.
C2B (Consumer to business)
51
consumers are given a venue to trade among themselves.
C2C (Consumer to Consumer)
52
It is not required to set up a proper business to sell.
C2C (Consumer to Consumer)
53
Anybody can sell anything. Mainly focuses on buying and selling goods or services between consumers.
C2C (Consumer to Consumer)
54
decentralized exchange of goods, services, or information directly between individuals, without the involvement of a central authority or business intermediary
P2P (Peer to Peer)
55
Often facilitated by digital platforms that connect users.
P2P (Peer to Peer)
56
Businesses sell products through platforms like Shopee, Lazada, TikTok Shop, etc.
ONLINE MARKETPLACES & STORES
56
Focus on sharing or lending resources, services, or data. Examples are riding app, lending app, etc.
P2P (Peer to Peer)
57
The mode of selling is known as electronic retailing, or e-tailing.
ONLINE MARKETPLACES & STORES
58
refers to the process of selling goods and services over the internet.
E-Tailing
59
It is a major component of e-commerce and allows businesses to reach customers digitally rather than through physical stores.
E-Tailing
60
E-commerce cannot work if there is no mechanism for making and accepting payments.
ELECTRONIC PAYMENTS
61
Buying, selling, and conducting financial transactions through mobile devices like smartphones and tablets.
MOBILE COMMERCE (M-COMMERCE)
62
It is a growing segment of e-commerce, enabling users to shop, pay bills, transfer money, and more through mobile apps and websites.
MOBILE COMMERCE (M-COMMERCE)
63
Mobile-friendly apps for shopping like Shopee and Lazada
MOBILE COMMERCE (M-COMMERCE)
64
is an order fulfillment method where the seller does not keep inventory. Instead, when a customer makes a purchase, the order is sent to a third-party supplier who ships the product directly to the customer.
Dropshipping
65
handle inventory storage, packing, and shipping on behalf of e-commerce businesses.
Fulfillment Services
66
sellers own the inventory but let a fulfillment center manage logistics.
dropshipping
67
refers to promoting goods or services using online channels
Digital marketing
68
focuses on building relationships with customers to increase loyalty and sales
customer engagement
69
Both are essential for e-commerce and online businesses.
DIGITAL MARKETING & CUSTOMER ENGAGEMENT
70
BENEFITS OF E-COMMERCE
- Global Reach - Sell to customers worldwide. - Data-Driven Decisions - Use analytics to improve sales. - 24/7 Availability - No time restrictions for shopping. - Lower Costs - Reduce expenses compared to physical stores.
71
ENUMERATE APPLICATION OF E-COMMERCE IN BUSINESS
1. ONLINE MARKETPLACES & STORES 2. ELECTRONIC PAYMENTS 3. MOBILE COMMERCE (M-COMMERCE) 4. DROPSHIPPING & FULFILLMENT SERVICES 5. DIGITAL MARKETING & CUSTOMER ENGAGEMENT
73
74
Type of Electronic Payments
Credit & Debit Cards E-Wallets (Digital Wallets) Online Banking & Fund Transfers Payment Gateways QR Code Payments Cryptocurrency Payments Contactless Payments (NFC) Buy Now, Pay Later (BNPL)
75
Visa, Mastercard, JCB, and UnionPay enable cashless transactions.
Credit & Debit Cards
76
Apps like GCash, Maya, PayPal, and Apple Pay
E-Wallets (Digital Wallets)
77
Bank apps and services like BPI Online, BDO Digital Banking, and Instapay
Online Banking & Fund Transfers
78
Platforms like PayMongo, Xendit, and Dragonpay
Payment Gateways
79
Scanning QR codes for fast payments (e.g., GCash QR, Maya QR, WeChat Pay).
QR Code Payments
80
Bitcoin, Ethereum, and other digital currencies
Cryptocurrency Payments
81
Tap-to-pay technology via Google Pay, Apple Pay, and RFID cards.
Contactless Payments (NFC)
82
Services like Spaylater, BillEase, and Homecredit allow installment payments without a credit card.
Buy Now, Pay Later (BNPL)

E-Commerce (3 decks)

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