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ITM 102 > ITM 102 Chap 10 > Flashcards

ITM 102 Chap 10 Flashcards

1
Q

e-commerce

A

refers to the use of the Internet and the Web to transact business

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2
Q

8 E-Commerce Technology

Dimensions

A
  • Ubiquity
  • Global reach
  • Universal standards*
  • Richness*
  • Interactivity*
  • Information density*
  • Personalization / customization*
  • Social technology*
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3
Q

Market Entry Costs

A

The cost merchants must pay simply to bring their goods to market are greatly lower by e-commerce

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4
Q

Search Cost

A

The effort required to find suitable products is greatlyreduced by universal standard

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5
Q

Information Richness

A

Refers to the complexity, personalization, and content of a message

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6
Q

Information Density

A

The total amount and quality of information available to all market participants, consumers, and merchants alike

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7
Q

Price Transparency

A

Refers to the ease with which consumers can fi nd out the variety of prices in a market

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8
Q

Cost Transparency

A

Refers to the ability of consumers to discover the actual costs merchants pay for products

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9
Q

Price Discrimination

A

Selling the same goods, or nearly the same goods, to different targeted groups at different prices

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10
Q

Personalization

A

Merchants can target their marketing messages to specific individuals by adjusting the message to a person’s name, interests, and past purchases

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11
Q

Customization

A

Changing the delivered product or service based on a user’s preferences or prior behaviour

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12
Q

Information Asymmetry

A

exists when one party in a transaction has more information that is important for the transaction than the other party

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13
Q

Menu Costs

A

Merchants’ costs of changing prices

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14
Q

Dynamic Pricing

A

The price of a product varies depending on the demand characteristics of the customer or the supply situation of the seller

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15
Q

Disintermediation

A

The removal of organizations or business process layers responsible for intermediary steps in a value chain

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16
Q

Digital Goods

A

Goods that can be delivered over a digital network (ex: music video…)

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17
Q

Business-To-Consumer (B2C) Electronic Commerce

A

Involves retailing products and services to individual shoppers

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18
Q

Business-To-Business (B2B) Electronic Commerce

A

Involves sales of goods and services among businesses

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19
Q

Consumer-To-Consumer (C2C) Electronic Commerce

A

Involves consumers selling directly to consumers (ex: eBay)

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20
Q

Mobile Commerce / M-Commerce

A

The use of handheld wireless devices for purchasing goods and services from any location

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21
Q

E-Commerce Business Models

A
  • Portal
  • E-tailer
  • Transaction broker
  • Market creator
  • Content provider
  • Community provider
  • Service provider
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22
Q

E-Tailer

A

Online retail stores

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23
Q

Intellectual Property

A

A term that refers to all forms of human expression that can be put into a tangible medium such as text, CDs, DVDs, or stored on any digital (or other) media, including the Web

24
Q

Podcasting

A

A method of publishing audio or video broadcasts via the Internet, allowing subscribing users to download audio or video fi les onto their personal computers or portable music players

25
Q

Streaming

A

A publishing method for music and video fi les that fl ows a continuous stream of content to a user’s device without storing it locally on the device

26
Q

Transaction Brocker

A

Sites that process transactions for consumers normally handled in person, by phone, or by mail

27
Q

Market Creators

A

Build a digital environment in which buyers and sellers can meet, display products, search for products, and establish prices

28
Q

Service Provider

A

Offer services online

29
Q

Community Providers

A

Create a digital online environment where people with similar interests can transact (buy and sell goods); share interests, photos, videos; communicate with like-minded people; receive interest-related information; and even play out fantasies by adopting online personalities called avatars

30
Q

Revenue Model

A

Describes how the fi rm will earn revenue, generate profi ts, and produce a superior return on investment

31
Q

Advertising Revenue Model

A

A Web site generates revenue by attracting a large audience of visitors who can then be exposed to advertisements. It is the most widely used revenue model in e-commerce

32
Q

Sales Revenue Model

A

Companies derive revenue by selling goods, information, or services to customers

33
Q

Micropayment Systems

A

Provide content providers with a cost-effective method for processing high volumes of very small monetary transactions

34
Q

Subscription Revenue Model

A

A Web site offering content or services charges a subscription fee for access to some or all of its offerings on an ongoing basis

35
Q

Free/ Freemium Revenue Model

A

Firms offer basic services or content for free while charging a premium for advanced or special features

36
Q

Transaction Fee Revenue Model

A

A company receives a fee for enabling or executing a transaction

37
Q

Affiliate Revenue Model

A

Web sites (called “affi liate Web sites”) send visitors to other sites in return for a referral fee or percentage of the revenue from any resulting sales.

38
Q

Social Shopping

A

Sites where you can swap shopping ideas with friends

39
Q

The Wisdom of Crowds

A

Argument that large numbers of people can make better decisions about a wide range of topics or products than a single person or even a small committee of experts

40
Q

Crowdsourcing

A

Creat a contest to solve business problems

41
Q

Prediction Markets

A

Established as peer-to-peer betting markets where participants make bets on specifi coutcomes

42
Q

Behavioural targeting

A

Refers to tracking the click-streams of individuals on thousands of Web sites for the purpose of understanding their interests and intentions and exposing them to advertisements uniquely suited to their behaviour

43
Q

Electronic Data Interchange (EDI)

A

Enables the computer-to-computer exchange between two organizations of standard transactions such as invoices, bills of lading etc… Transactions are automatically transmitted from one information system to another through a network, eliminating the printing and handling of paper at one end and the inputting of data at the other.

44
Q

Procurement

A

Involves purchasing goods and materials but also sourcing, negotiating with suppliers, paying for goods, and making delivery arrangements

45
Q

Private Industrial Networks / Private Exchange

A

Consist of a large firm using an extranet to link to its suppliers and other key business partners

46
Q

Net marketplaces / E-Hubs

A

Provide a single, digital marketplace based on Internet technology for many different buyers and sellers. They are industry-owned or operate as independent intermediaries between buyers and sellers

47
Q

Direct Goods

A

Goods used in a production process

48
Q

Indirect Goods

A

All goods not directly involved in the production process, such as offi ce supplies or products for maintenance and repair

49
Q

Exchanges

A

Independently owned third-party Net marketplaces that connect thousands of suppliers and buyers for spot purchasing

50
Q

M-Commerce Services and Applications

A
  • Location-Based Services
  • Banking and Financial Services
  • Wireless Advertising and Retailing
  • Games and Entertainment
51
Q

Building an E-Commerce Web Site

A
  • Building Decisions
  • Hosting Decisions
  • Web Site Budgets
52
Q

Co-Location Agreement

A

The firm purchases or leases a Web server (and has total control over its operation) but locates the server in a vendor’s physical facility

53
Q

Server Farms

A

Provide economy of scale for large cloud service providers (Oracle IBM HP)

54
Q

Marketspace

A

A markerplace extended beyond traditional boundaries and removed from temporal and geographic location

55
Q

Transaction Cost

A

The cost of participating in a market

ITM 102 (10 decks)

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