Week Eight Flashcards
Mobile commerce:
The use of handheld wireless devices for purchasing goods and services from any location
Electronic Data Interchange (EDI):
EDI enables the computer-to-computer exchange between two organizations of standard transactions such as invoices, bills of lading, shipment schedules, or purchase orders
About 80 percent of online B2B e-commerce in the United States is still based on proprietary systems for EDI
Information asymmetry:
Exists when one party in a transaction has more information that is important for the transaction than the other party. That information helps determine their relative bargaining power
Personalization:
Ability of merchants to target marketing messages to specific individuals by adjusting the message for a person’s name, interests, and past purchases