Chapter 7 - eBusiness and eCommerce Flashcards
What is eCommerce
Electronic Commerce: The process of buying, selling, transferring, or exchanging products, services, or information via computer networks
What is eBusiness?
Electronic Business: A broader concept than eCommerce that includes servicing customers, collaborating with partners, and performing transactions
What is brick-and-motor?
Purely physical organization with no eCommerce (ex. coffee shop)
What is clicks-and-motor/bricks?
Partially eCommerce with a primary physical presence (ex. Walmart)
Define each and explain how they work:
B2C
B2B
C2C
B2E
G2C/G2B
B2C - Business to Consumer: The sellers are organizations and the buyers are individuals
B2B - Business to Business: Both sellers and buyers are organizations
C2C - Consumer to Consumer: An individual sells to another individual
B2E - Business to Employee: An organization provides information and services to an employee
G2C/G2B - Government to Business/Consumer: Delivers information and public services to recipient
What is M-Commerce?
Mobile Commerce: eCommerce conducted exclusively in a wireless environment (ex. in-app purchase)
What is Conversational Commerce?
eCommerce using messaging to offer daily choices of a product or service (ex. Facebook Marketplace shopping)
What is Social Commerce?
Delivery of eCommerce through social computing (ex. Instagram)
What is the difference between a forward auction and a reverse auction?
Forward auction: Sellers solicit bids from potential buyers (a traditional auction)
Reverse auction: Suppliers submits bids for what much they’re willing to be paid to do work for a buyer
What are Electronic Payment Mechanisms?
Computer-based systems that allow customers to pay for goods and services electronically
What is a vertical exchange?
Connects buyers and sellers in a given industry
What is a horizontal exchange?
Connects buyers and sellers across various industries
What is the Payment Card Industry Data Security Standard?
PCI DSS - An information security standard used to handle credit cards
What is a Portal?
A high-traffic website that provides a wide range of content, services, and vendor links (Ex. Yahoo)
