CHAPTER 1 ITEMS Flashcards
is defined as the exchange of goods and services between two or more entities physically.
COMMERCE
- Refers to business transactions
or information exchange, as well as buying and selling
products from person to person.
Traditional Commerce
- 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.
Brick and Mortar
The local grocery store and the corner bank are examples of
_______________ companies.
brick-and-mortar
- 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).
E-Commerce
- includes buying and selling goods and services online.
Digital Commerce
- Online selling 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.
Online Selling
is the structured transmission of
data between organizations by electronic means.
Electronic Data Interchange (EDI)
It is used to transfer electronic documents or business data from one computer system to another computer system.
Electronic Data Interchange (EDI)
is the electronic exchange or
transfer of money from one account to another.
Electronic Funds Transfer (EFT)
E-commerce and E-business are __________, though they are closely
related.
different
__________ refers to any business that applies internet technologies in its operation.
E-business
Conducting all business operations using digital technology.
E-business
on the other hand, is the process of buying and selling of goods and services online.
E-Commerce
___________ refers to electronic trade that takes place between companies. Consumers are not involved.
B2B (Business to Business)
Producers buying components from suppliers and manufacturers selling finished goods to distributors.
B2B (Business to Business)
is the simplest and most recognizable form of e-commerce.
B2C (Business to Consumer)
Direct trade between companies and consumers.
B2C (Business to Consumer)
Online businesses sell goods and
services to the general public.
B2C (Business to Consumer)
business model where individuals
(consumers) create value that businesses consume.
C2B (Consumer to business)
Complete reversal of the traditional sense of exchanging goods.
C2B (Consumer to business)
consumers are given a venue to trade among themselves.
C2C (Consumer to Consumer)
It is not required to set up a proper
business to sell. Anybody can sell anything.
C2C (Consumer to Consumer)
Mainly focuses on buying and selling goods or services between consumers.
C2C (Consumer to Consumer)
decentralized exchange of goods, services, or information directly between individuals, without the involvement of a central
authority or business intermediary.
Often facilitated by digital platforms that connect users. Focus on sharing or lending resources, services, or data.
Examples are riding app, lending app, etc.
P2P
Businesses sell products through platforms like Shopee, Lazada, TikTok Shop, etc. The mode of selling is known as electronic
retailing, or e-tailing.
ONLINE MARKETPLACES & STORES
refers to the process of selling goods and services over the internet.
E-Tailing
It is a major component of e-commerce and allows businesses to reach customers digitally rather than through physical stores.
E-Tailing
E-commerce cannot work if there is no mechanism for making and
accepting payments.
ELECTRONIC PAYMENTS
Buying, selling, and conducting financial transactions through mobile
devices like smartphones and tablets.
MOBILE COMMERCE (M-COMMERCE)
It is a growing segment of e-commerce, enabling users to shop, pay bills, transfer money, and more through mobile apps and websites. Mobile-friendly apps for
shopping like Shopee and Lazada
MOBILE COMMERCE (M-COMMERCE)
is an order fulfillment method where the seller does not keep inventory.
Dropshipping
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
__________________ handle inventory storage, packing, and shipping on behalf of e-commerce businesses.
Unlike dropshipping, sellers own the inventory but let a fulfillment center manage logistics.
Fulfillment Services
refers to promoting goods or services using
online channels
Digital marketing
____________ ___________ focuses on building
relationships with customers to increase loyalty and sales.
customer engagement
Both are essential for e-commerce and online businesses.
DIGITAL MARKETING & CUSTOMER ENGAGEMENT
BENEFITS OF E-COMMERCE
➢ - Sell to customers worldwide.
Global Reach
BENEFITS OF E-COMMERCE
➢ - Use analytics to improve sales.
Data-Driven Decisions
BENEFITS OF E-COMMERCE
➢ - No time restrictions for shopping.
24/7 Availability
BENEFITS OF E-COMMERCE
➢ - Reduce expenses compared to physical
stores.
Lower Costs
