Introduction to E-commerce Flashcards
What is the difference between e-commerce and e-business
E-commerce focuses more on the selling and transactions of products that happens externally using the internet. Mainly with customers.
- The online use of the internet and mobile devices to conduct business transactions between individuals and organizations.
E-business focuses more on internal operations where it involves information systems under the control of the firm.
- the digital enabling of transactions and processes within a firm involving information systems under the control of the firm
Internet
Worldwide network of computer networks built on common standards
World Wide Web
an information system running on internet infrastructure that provides access to billions of web pages
How would you measure the growth of the internet
By looking at the number of internet hosts wit domain names.
Mobile platform
Enables internet access from diverse mobile devices like smartphones, tablets, and lightweight laptops.
What are the major trends in ecommerce
Business, technology and society
Eight Unique Features of E-commerce Technology
Ubiquity, Global Reach, Universal Standards, Social technology, Personalization/Customization, Information density, Interactivity, Richness
Information Asymmetry
A disparity in relevant market information among parties in a transaction.
- When one party has more knowledge than the other (knows more market information)
Marketplace
Physical place you visit in order to transact.
Ubiquity
A feature of e-commerce where it is available anywhere, at all times. - It liberates the market from being restricted to a physical space.
eg: shopping from desktop
Marketspace
“Marketplace” extended beyond traditional boundaries and removed from a temporal and geographic location
aka… online space
Benefits of Ubiquity
Reduced transaction costs to participate in the market.
Reduced cognitive energy because less mental effort is needed to complete a task. Easier to transact in a marketplace.
Global Reach
The technology reaches across national boundaries around the Earth.
Universal Standards
There is one set of technology standards, namely internet standards. Same technical standards across the globe.
Richness
Video, audio and text messages are possible
