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E-commerce > Lesson 1-2 > Flashcards

Lesson 1-2 Flashcards

1
Q

E-commerce, short for

A

Electronic commerce

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2
Q

refers to the buying and selling of goods, services, or information over the internet or other electronic networks.

A

E-commerce

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3
Q

It involves online transactions between businesses (B2B), businesses and consumers (B2C), and even between consumers (C2C).

A

E-commerce

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4
Q

Encompasses a wide range of activities, from online shopping and digital payments to electronic data interchange (EDI) between businesses.

A

E-commerce

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5
Q

The origins of e-commerce can be traced back to the development of electronic data interchange (EDI). EDI allowed businesses to exchange electronic documents and conduct transactions using standardized formats. However, it was primarily used for B2B transactions between large enterprises.

A

1960s-1970s: Early Precursors

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6
Q

Technologies like Electronic Funds Transfer (EFT) and Electronic Data Interchange (EDI) started being used more widely for business transactions.

A

1980s: The Emergence of Online Shopping

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7
Q

Invented the World Wide Web, laying the foundation for the modern internet.

A

Tim Berners-Lee

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8
Q

founded Amazon.com as an online bookstore, which later expanded into a massive online marketplace.

A

Jeff Bezos

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9
Q

saw a rapid proliferation of online retailers, including eBay (1995) and PayPal (1998).

A

1990s: Rapid Growth and Dot-Com Boom

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10
Q

Online marketplaces like eBay and Amazon became household names, while traditional retailers started establishing online stores.

A

2000s: Expansion and Consolidation

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11
Q

saw the emergence of mobile commerce (m-commerce) with the launch of smartphones and mobile apps.

A

Mid-2000s: Rise of Mobile Commerce

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12
Q

The advent of social commerce, where products are sold through social media platforms, gained popularity.

A

2010s: Dominance of E-Commerce Giants

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13
Q

The COVID-19 pandemic accelerated the adoption of e-commerce as people turned to online shopping for safety and convenience.
E-commerce sales surged, and businesses rapidly adapted to meet the growing demand for online products and services.

A

2020s: Acceleration and Pandemic Impact

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14
Q

The 2020s also witnessed the integration of emerging technologies such as artificial intelligence (AI), augmented reality (AR), virtual reality (VR), and blockchain into e-commerce, enhancing user experiences and security.

A

Emerging Technologies:

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15
Q

E-commerce transcends geographical boundaries, allowing businesses to reach a global customer base. It provides access to markets that were previously inaccessible or costly to target.

A

Global Reach

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16
Q

E-commerce offers unparalleled convenience to consumers. Shoppers can browse, compare, and purchase products or services at any time, from anywhere, using a variety of devices.

A

Convenience and Accessibility

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17
Q

For businesses, e-commerce often involves lower operational costs compared to traditional brick-and-mortar retail. There are no physical store expenses, and digital marketing can be more cost-effective than traditional advertising.

A

Cost Efficiency

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18
Q

E-commerce enables small and medium-sized businesses to compete with larger enterprises on a more level playing field. It allows startups to enter markets without the need for extensive physical infrastructure.

A

Market Expansion

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19
Q

E-commerce platforms gather data on customer behavior and preferences, enabling businesses to offer personalized recommendations and marketing strategies. This enhances the overall shopping experience.

A

Customer Personalization

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20
Q

E-commerce provides consumers with an extensive range of products and services. Shoppers have access to a diverse selection of products, often more than what is available in physical stores.

A

Consumer Choice

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21
Q

E-commerce offers a variety of payment methods, including credit/debit cards, digital wallets, and cryptocurrencies. This flexibility caters to diverse customer preferences.

A

Convenient Payment Options

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22
Q

E-commerce generates economic growth by creating jobs in areas like technology, logistics, and digital marketing. It also drives economic development in regions where traditional retail might not be feasible.

A

Economic Impact

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23
Q

It allowed businesses to continue operating when physical stores were closed, demonstrating its importance in times of crisis.

A

Resilience

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24
Q

Individuals and small businesses can create online stores and start selling products or services with relative ease.

A

Entrepreneurship

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25
Q

This model involves businesses selling products or services directly to individual consumers. Examples include online retail stores like Amazon, Walmart, and eBay.

A

Business-to-Consumer (B2C)

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26
Q

Model where businesses sell products or services to other businesses. It often involves bulk purchasing, supply chain management, and specialized industry solutions. Example includes Alibaba and Amazon Business

A

Business-to-Business (B2B)

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27
Q

platforms facilitate transactions between individual consumers. Examples include online marketplaces like eBay, Facebook Marketplace, and Carousell.

A

Consumer-to-Consumer (C2C)

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28
Q

In this model, individual consumers offer products or services to businesses. For example, freelance platforms like Upwork and Fiverr allow individuals to offer their skills and services to businesses.

A

Consumer-to-Business (C2B)

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29
Q

This model involves customers paying a recurring fee for access to products or services. Examples include subscription boxes, streaming services like Netflix, and SaaS (Software as a Service) companies.

A

Subscription-Based Model

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30
Q

Act as intermediaries between suppliers and customers. They don’t hold inventory but instead fulfill orders directly from suppliers when a customer makes a purchase. Examples include Dropify.

A

Dropshipping

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31
Q

Platforms like Kickstarter and Indiegogo allow individuals and businesses to raise funds for projects or products by collecting contributions from a large number of backers.

A

Crowdfunding

32
Q

Affiliate marketers promote products or services on behalf of businesses and earn commissions for each sale or lead generated through their referral efforts. Example includes Amazon Affiliates, Lazada Affiliates, and Shopee Affiliates.

A

Affiliate Marketing

33
Q

Products from manufacturers and sell them under their own brand name. This is common in industries like cosmetics and consumer electronics. Example includes CD-R King and Print-on-Demand

A

White-Labeling and Private Labeling

34
Q

Companies like Airbnb, Lalamove, and Uber enable users to rent or share assets (e.g., accommodations, transportation) with others, often on a peer-to-peer basis.

A

Rental and Sharing Economy

35
Q

This model involves selling digital goods, such as e-books, music, software, and online courses. Content creators can monetize their expertise and creative works online. Examples are Udemy, Coursera, and Shopify (digital goods).

A

Digital Products and Content Sales

36
Q

Many online businesses offer a basic service for free while charging for premium features or additional services. This model is commonly used in the software industry. Example includes YouTube Premium, Tindr, and Spotify.

A

Freemium Model

37
Q

Some e-commerce businesses operate on blockchain platforms and accept cryptocurrencies as a form of payment. Example includes Binance, Coinbase, and Crypto.com.

A

Blockchain and Cryptocurrency

38
Q

is a dynamic industry, and staying informed about the latest trends and statistics is crucial for businesses and professionals in the field.

A

E-commerce

39
Q

The increasing use of smartphones continues to drive mobile shopping. Retailers are focusing on mobile optimization and mobile app development.

A

Mobile Commerce (M-Commerce)

40
Q

Combining online and offline shopping experiences is gaining importance. Retailers are investing in strategies that integrate physical and digital channels.

A

Omnichannel Retail

41
Q

Are being used to enhance customer service, personalize recommendations, and improve the overall shopping experience.

A

AI and Chatbots

42
Q

Thriving, offering everything from beauty products to meal kits. Subscription models provide recurring revenue and build customer loyalty.

A

Subscription E-commerce

43
Q

Are being used to enhance product visualization and create immersive shopping experiences.

A

Augmented Reality (AR) and Virtual Reality (VR)

44
Q

Social media platforms are expanding their e-commerce capabilities, allowing users to shop directly within apps. Instagram Shopping and Facebook Marketplace are notable examples.

A

Social Commerce

45
Q

The diversity of payment options is increasing. Digital wallets, cryptocurrencies, and Buy Now, Pay Later (BNPL) services are gaining popularity.

A

Payment Options

46
Q

Also known as online marketing or digital marketing, encompasses a wide range of fundamental concepts and strategies.

A

Internet marketing

47
Q

Internet marketing begins with establishing a strong online presence through a website, social media profiles, and other online platforms.

A well-designed website serves as a central hub for online marketing activities.

A

Digital Presence

48
Q

Identifying and understanding the target audience is crucial. Internet marketing strategies should be tailored to meet the needs and preferences of the target demographic.

A

Target Audience

49
Q

Content is at the core of internet marketing. High-quality, relevant, and valuable content is used to attract, engage, and inform the audience.

Content can take various forms, including blog posts, articles, videos, infographics, and more.

A

Content Marketing

50
Q

involves optimizing online content and websites to rank higher in search engine results pages (SERPs).

A

Search Engine Optimization (SEO)

51
Q

Leveraging social media platforms like Facebook, Twitter, Instagram, and LinkedIn to build brand awareness, engage with the audience, and promote products or services.

A

Social Media Marketing

52
Q

Involves sending targeted emails to subscribers or potential customers.

A

Email Marketing

53
Q

It is used for promoting products, delivering valuable content, and nurturing customer relationships.

A

Email Marketing

54
Q

Advertising allows businesses to display ads on search engines and websites. Advertisers pay a fee each time their ad is clicked.

A

Pay-Per-Click (PPC) Advertising

55
Q

Involves partnering with affiliates or publishers who promote a company’s products or services in exchange for a commission on sales.

A

Affiliate Marketing

56
Q

Collaborating with social media influencers or industry experts to promote products or services to their engaged audience.

A

Influencer Marketing

57
Q

Monitoring and analyzing data is essential for measuring the effectiveness of internet marketing campaigns.

A

Analytics and Data Analysis

58
Q

Involves optimizing elements of a website or landing page to increase the percentage of visitors who take desired actions, such as making a purchase or signing up for a newsletter.

A

Conversion Rate Optimization (CRO)

59
Q

With the increasing use of smartphones, mobile marketing strategies are vital. This includes mobile-friendly websites, mobile apps, and SMS marketing.

A

Mobile Marketing

60
Q

Internet marketing encompasses various online advertising channels, including display advertising, social media advertising, video advertising, and native advertising.

A

Online Advertising Channels

61
Q

is crucial for businesses engaged in online marketing and e-commerce.

A

Understanding digital consumer behavior

62
Q

Consumers extensively research products and services online before making purchasing decisions. They rely on search engines, review websites, and social media to gather information.

A

Online Research

63
Q

With the widespread use of smartphones, many consumers shop and browse on mobile devices. Mobile-friendly websites and apps are essential for capturing this audience.

A

Mobile Shopping

64
Q

Consumers often use multiple channels and devices during their buying journey. This can include starting research on a smartphone, comparing prices on a laptop, and completing the purchase on a tablet.

A

Multichannel Shopping

65
Q

Social media plays a significant role in shaping consumer opinions and decisions. Consumers seek product recommendations and reviews from friends, family, and influencers on platforms like Facebook, Instagram, and YouTube.

A

Social Influence

66
Q

User-generated reviews and ratings heavily influence purchasing choices. Positive reviews build trust, while negative reviews can deter potential buyers.

A

Online Reviews

67
Q

Digital consumers expect instant gratification. They favor fast-loading websites, quick checkout processes, and same-day or next-day delivery options.

A

Instant Gratification

68
Q

Consumers appreciate personalized experiences. They expect recommendations based on past behavior and preferences, such as personalized product suggestions and email content.

A

Personalization

69
Q

Consumers are concerned about online security. They look for secure payment options, trust seals, and HTTPS websites to ensure their personal and financial information is protected.

A

Online Security

70
Q

Cart abandonment is common in e-commerce. Consumers often add items to their carts but do not complete the purchase. Strategies like cart recovery emails can help recover these sales.

A

Abandoned Carts

71
Q

Digital consumers can be loyal to brands that provide exceptional online experiences, responsive customer service, and loyalty programs.

A

Brand Loyalty

72
Q

Is influential in consumer decision-making. YouTube is a significant platform for product discovery.

A

Video Content

73
Q

Social media platforms are increasingly becoming shopping destinations. Features like “Buy Now” buttons on social posts allow consumers to make purchases without leaving the platform.

A

Social Commerce

74
Q

Consumers exhibit different shopping behaviors during holidays and special events like Black Friday and Cyber Monday. Online retailers often plan promotions and discounts around these times.

A

Seasonal and Event Shopping

75
Q

Consumers consider return policies when making online purchases. A lenient and hassle-free return process can positively impact consumer confidence.

A

Return Policies

76
Q

Brands that demonstrate social responsibility and engage in philanthropic efforts can attract consumers who align with their values.

A

Social Responsibility

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