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E-commerce > deck_17020657 > Flashcards

deck_17020657 Flashcards

1
Q

Electronic Commerce Refers to

A

business activities conducted using electronic data transmission via the Internet and the World Wide Web

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2
Q

Traditional commerce

A

buying and selling of good/service by physical interaction, without internet

immediate customer satisfcation through product availability, allow customer to try

buyer can negotiate better fees

seller can increase customer loyalty through good service

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3
Q

Limitations of traditional commerce

PILOT

A

Payment method
Inventory Management
Limited geographical reach
Operating Hours

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4
Q

Main Elements of E-commerce

A

Business-to-business (B2B)
Business-to-consumer (B2C)
Business-to-employee (B2E)
Consumer-Govt (C2G)
Consumer- Consumer (C2C)

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5
Q

Business-to-business (B2B)

A

Businesses make online transactions purchases with other businesses

build relationship
bulk discounts
efficient ordering and delivery

wholesaler sell to retailers

PTS: Target Audience, Specialised Products & Services, Payment Terms

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6
Q

Business-to-consumer (B2C)

A

Online transactions between businesses and consumers

user friendly online shopping experience
wide varierty of products
competitive prices

MPC: Mass production, Pricing Strategues, Customer Service

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7
Q

Business-to-employee (B2E)

A

Information and services made available to employees online

beneftis and convenience
streamline internal process
enhance employee productivity and engagement

staff dicsounts

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8
Q

C2G

A

Purchase directly from governemnt through online platform

streamline process for citizens to interact and have convenient service assess with govt agencies

Paying traffic fines online

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9
Q

C2C

A

sell to other customers

provides a platform for consumers to connect and exchange goods/services

eBay, carousell

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10
Q

Value Added Network (VAN)

A

independent firm that offers connection and EDI transaction forwarding services to buyers and sellers engaged in EDI

responsible for ensuring the security of transmitted data.

fixed monthly fee plus a per-transaction charge to subscribers

Tracking, Disaster Recovery, Cost savings, compliance

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11
Q

Electronic Data Interchange (EDI)

A

one business transmits computer-readable data
in a standard format to another business

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12
Q

Commodity item

A

product or service that is hard to distinguish from the same products or services provided by other sellers,

well suited to electronic commerce.

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13
Q

Shipping profile

A

attributes that affect how easily a product can be packaged and delivered

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14
Q

Advantages of Electronic Commerce

GLORIOUS PACE

A

Global Reach
Lower Operational Costs
Open 24/7 (24/7 Availability)
Reduced Time to Market
Inventory Management (Better)
Online Convenience for Customers
Understanding Customers (Enhanced Insights)
Scalability

Personalization
Advertising and Marketing (Improved)
Customer Engagement and Speed (Faster Transactions)
Eco-Friendly Options

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15
Q

Disadvantages of Electronic Commerce

STRESSFUL LOAD

A

Security Concerns
Technology Dependence
Regulations and Taxes
Experience (Limited Product)
Shipping Costs and Delays
Setup Costs (High)
Fraudulent Activities
User Privacy Concerns
Limited Personal Interaction
Logistics Challenges
Overwhelming Competition
Access Dependence (Internet)

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16
Q

International Electronics Commerce

A

Language Barriers
Political structures
Legal, tax, privacy

17
Q

Transaction costs

A

total of all costs that a buyer and a seller incur as they gather information and negotiate a purchase-sale transaction

investment in equipment, hiring of skilled employees to supply product

18
Q

Business Activity

A

occurs in large hierarchical business organizations
firms, companies

19
Q

Economic Forces and Electronic Commerce: Traditional

A

Market

raw materials->market->production->production market-> retail

20
Q

Economic Forces and Electronic Commerce: Hierachial

A

Firms

Managers/supervisors/workers-> retail

21
Q

Economic Forces and Electronic Commerce: Networkers

A

subcontract parts of operations

markert research firm: information
dealer/trader: selling
Makers: making

22
Q

Network Effects

A

As more people or organizations participate in a network, the value of the network to each participant increases

23
Q

Value Chains

A

break business down into a series of value-adding activities that combine to generate profits and meet goals

organizing the activities such as design, produce, promote, market, deliver, and support the products or services it sells

each stage add value to the end product

cost reduction, value addition, customer satisfaction

24
Q

Industry Value Chains

A

refers to value systems

identify opportunities for cost reduction, product improvement, or channel reconfiguration

25
Q

SWOT

A

Strengths
Weaknesses
Opportunities
Threat

26
Q

SMART

A

Specific
Measurable
Achievable
Relevant
Timebound

E-commerce (6 decks)

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