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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
Streaming
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
Transaction Brocker
Sites that process transactions for consumers normally handled in person, by phone, or by mail
27
Market Creators
Build a digital environment in which buyers and sellers can meet, display products, search for products, and establish prices
28
Service Provider
Offer services online
29
Community Providers
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
Revenue Model
Describes how the fi rm will earn revenue, generate profi ts, and produce a superior return on investment
31
Advertising Revenue Model
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
Sales Revenue Model
Companies derive revenue by selling goods, information, or services to customers
33
Micropayment Systems
Provide content providers with a cost-effective method for processing high volumes of very small monetary transactions
34
Subscription Revenue Model
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
Free/ Freemium Revenue Model
Firms offer basic services or content for free while charging a premium for advanced or special features
36
Transaction Fee Revenue Model
A company receives a fee for enabling or executing a transaction
37
Affiliate Revenue Model
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
Social Shopping
Sites where you can swap shopping ideas with friends
39
The Wisdom of Crowds
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
Crowdsourcing
Creat a contest to solve business problems
41
Prediction Markets
Established as peer-to-peer betting markets where participants make bets on specifi coutcomes
42
Behavioural targeting
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
Electronic Data Interchange (EDI)
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
Procurement
Involves purchasing goods and materials but also sourcing, negotiating with suppliers, paying for goods, and making delivery arrangements
45
Private Industrial Networks / Private Exchange
Consist of a large firm using an extranet to link to its suppliers and other key business partners
46
Net marketplaces / E-Hubs
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
Direct Goods
Goods used in a production process
48
Indirect Goods
All goods not directly involved in the production process, such as offi ce supplies or products for maintenance and repair
49
Exchanges
Independently owned third-party Net marketplaces that connect thousands of suppliers and buyers for spot purchasing
50
M-Commerce Services and Applications
- Location-Based Services - Banking and Financial Services - Wireless Advertising and Retailing - Games and Entertainment
51
Building an E-Commerce Web Site
- Building Decisions - Hosting Decisions - Web Site Budgets
52
Co-Location Agreement
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
Server Farms
Provide economy of scale for large cloud service providers (Oracle IBM HP)
54
Marketspace
A markerplace extended beyond traditional boundaries and removed from temporal and geographic location
55
Transaction Cost
The cost of participating in a market

ITM 102 (10 decks)

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