Chapter 4 Flashcards
Business-to-business (B2B)
The segment of electronic commerce whereby businesses utilize the internet to solicit transactions from each other.
Business to Consumer
The segment of electronic commerce whereby business utilize the internet to solicit transactions from consumers known as e- tailing.
Business to Government
The segment of electronic commerce whereby businesses utilize the Internet to solicit transactions from government entities.
Clicks and Bricks
The simultaneous application of both electronic (“clicks”) and traditional (“bricks”) forms of commerce.
Commoditization
A process whereby firms are having a more difficult time distinguishing their products and services from those of their rivals.
Consumer to Consumer
The segment of electronic commerce whereby consumers utilize the Internet to solicit transactions from businesses.
Culture
A society’s generally accepted values, traditions, and patterns of behavior.
E-Tailing
Another term for B2C
Economies of Scale
The decline in unit costs of a product or service that occurs as the absolute volume of production increases.
Environmental Scanning
The systematic collection and analysis of information about relevant macro environmental trends.
Information Asymmetry
When one party has information that another does not.
Information Symmetry
When all parties to a transaction share the same information concerning that transaction.
Mass Customization
The ability to individualize product and service offerings to meet.
Mobile Commerce
Transactions conducted in an entirely wireless environment such as using a smartphone to both purchase and download an airline ticket or piece of music.
