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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
Q

E-Commerce Goes Mainstream

A

2000
2005
2008
2009

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26
Q

The dot-com bubble burst, but strong e-commerce players survived.

A

2000

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27
Q

Amazon Prime was introduced, offering fast shipping and boosting online shopping.

A

2005

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28
Q

Apple App Store launched, paving the way for mobile commerce (m-commerce).

A

2008

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29
Q

Bitcoin was introduced, opening possibilities for cryptocurrency transactions.

A

2009

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30
Q

Rise of Mobile & Social Commerce

A

2010
2011
2015
2016
2018

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31
Q

Instagram and Pinterest launched, influencing online shopping trends.

A

2010

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32
Q

Google Wallet launched, enhancing digital payments.

A

2011

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33
Q

Amazon launched Alexa, integrating AI into shopping experiences.

34
Q

Shopify grew, enabling businesses to set up online stores easily.

35
Q

TikTok gained popularity, later influencing social commerce.

36
Q

E-Commerce Boom & Future Innovations

A

2020
2021
2022
2023
2024 & beyond

37
Q

The COVID-19 pandemic accelerated online shopping, with grocery delivery and e-learning surging.

38
Q

Live streaming e-commerce became a major trend in China and expanded globally.

39
Q

Metaverse shopping and AI-powered recommendations gained traction.

40
Q

TikTok Shop and social commerce grew significantly, changing how people shop online.

41
Q

Trends like voice commerce, drone deliveries, AI-driven personalization, and blockchain-based transactions continue to shape the future of e-commerce.

A

2024 & Beyond

42
Q

ENUMERATE BUSINESS MODELS

A

B2B (Business to Business)
B2C (Business to Consumer)
C2B (Consumer to business)
C2C (Consumer to Consumer)
P2P (Peer to Peer)

43
Q

refers to electronic trade that takes place between companies.

A

B2B (Business to Business)

44
Q

Consumers are not involved.

A

B2B (Business to Business)

45
Q

Producers buying components from suppliers and manufacturers selling finished goods to distributors.

A

B2B (Business to Business)

46
Q

is the simplest and most recognizable form of e-commerce.

A

B2C (Business to Consumer)

47
Q

Direct trade between companies and consumers.

A

B2C (Business to Consumer)

48
Q

Online businesses sell goods and services to the general public.

A

B2C (Business to Consumer)

49
Q

business model where individuals (consumers) create value that businesses consume.

A

C2B (Consumer to business)

50
Q

Complete reversal of the traditional sense of exchanging goods.

A

C2B (Consumer to business)

51
Q

consumers are given a venue to trade among themselves.

A

C2C (Consumer to Consumer)

52
Q

It is not required to set up a proper business to sell.

A

C2C (Consumer to Consumer)

53
Q

Anybody can sell anything. Mainly focuses on buying and selling goods or services between consumers.

A

C2C (Consumer to Consumer)

54
Q

decentralized exchange of goods, services, or information directly between individuals, without the involvement of a central authority or business intermediary

A

P2P (Peer to Peer)

55
Q

Often facilitated by digital platforms that connect users.

A

P2P (Peer to Peer)

56
Q

Businesses sell products through platforms like Shopee, Lazada, TikTok Shop, etc.

A

ONLINE MARKETPLACES & STORES

56
Q

Focus on sharing or lending resources, services, or data. Examples are riding app, lending app, etc.

A

P2P (Peer to Peer)

57
Q

The mode of selling is known as electronic retailing, or e-tailing.

A

ONLINE MARKETPLACES & STORES

58
Q

refers to the process of selling goods and services over the internet.

59
Q

It is a major component of e-commerce and allows businesses to reach customers digitally rather than through physical
stores.

60
Q

E-commerce cannot work if there is no mechanism for making and accepting payments.

A

ELECTRONIC PAYMENTS

61
Q

Buying, selling, and conducting financial transactions through mobile devices like smartphones and tablets.

A

MOBILE COMMERCE (M-COMMERCE)

62
Q

It is a growing segment of e-commerce, enabling users to shop, pay bills, transfer money, and more through mobile apps and websites.

A

MOBILE COMMERCE (M-COMMERCE)

63
Q

Mobile-friendly apps for shopping like Shopee and Lazada

A

MOBILE COMMERCE (M-COMMERCE)

64
Q

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.

A

Dropshipping

65
Q

handle inventory storage, packing, and shipping on behalf of e-commerce businesses.

A

Fulfillment Services

66
Q

sellers own the inventory but let a fulfillment center manage logistics.

A

dropshipping

67
Q

refers to promoting goods or services using online channels

A

Digital marketing

68
Q

focuses on building relationships with customers to increase loyalty and sales

A

customer engagement

69
Q

Both are essential for e-commerce and online businesses.

A

DIGITAL MARKETING & CUSTOMER ENGAGEMENT

70
Q

BENEFITS OF E-COMMERCE

A
  • 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
Q

ENUMERATE APPLICATION OF E-COMMERCE IN BUSINESS

A
  1. ONLINE MARKETPLACES & STORES
  2. ELECTRONIC PAYMENTS
  3. MOBILE COMMERCE (M-COMMERCE)
  4. DROPSHIPPING & FULFILLMENT SERVICES
  5. DIGITAL MARKETING & CUSTOMER ENGAGEMENT
74
Q

Type of Electronic Payments

A

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
Q

Visa, Mastercard, JCB, and UnionPay enable cashless transactions.

A

Credit & Debit Cards

76
Q

Apps like GCash, Maya, PayPal, and Apple Pay

A

E-Wallets (Digital Wallets)

77
Q

Bank apps and services like BPI Online, BDO Digital Banking, and Instapay

A

Online Banking & Fund Transfers

78
Q

Platforms like PayMongo, Xendit, and Dragonpay

A

Payment Gateways

79
Q

Scanning QR codes for fast payments (e.g., GCash QR, Maya QR, WeChat Pay).

A

QR Code Payments

80
Q

Bitcoin, Ethereum, and other digital currencies

A

Cryptocurrency Payments

81
Q

Tap-to-pay technology via Google Pay, Apple Pay, and RFID cards.

A

Contactless Payments (NFC)

82
Q

Services like Spaylater, BillEase, and Homecredit allow installment payments without a credit card.

A

Buy Now, Pay Later (BNPL)

E-Commerce (3 decks)

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