Commerce

Question 1

Commerce

Answer 1

the activity of purchasing and selling goods/services on a large scale

Question 2

e-commerce

Answer 2

any type of business that involves the transfer of information across the internet

Question 3

Types of transactions

Answer 3

Consumer –> Consumer
Consumer –> Business
Business –> Business
Business –> Consumer

Question 4

1971

Answer 4

Stanford students use ARPANet to sell pot

Question 5

1979

Answer 5

Aldrich invents online shopping with videotex

Question 6

1991

Answer 6

National Science Foundation lifts commercial ban

Question 7

1994

Answer 7

Netscape SSL (Secure Socket Layer)

Question 8

1995

Answer 8

Cyber Cash & First Virtual process credit cards
Amazon starts, Jeff Bezos, online bookstore
eBay, Pierre Omidyar in San jose, e-Commerce site to connect globally

Question 9

2000

Answer 9

Commercial retail opens online (target, walmart, macys)

Question 10

2002

Answer 10

eBay buys PayPal

Question 11

2003

Answer 11

iTunes launches– Biggest online store ever

Question 12

2014

Answer 12

Overstock has $1 million in Bitcoin sales

Question 13

Amazon

Answer 13

Largest internet retailer based in US; Surpassed Walmart 2015

Question 14

eBay

Answer 14

2007: 5 million transactions; owns part of Craigslist

Question 15

Etsy

Answer 15

2005, peer to peer; in 2014 $195.6 mil in revenue

Question 16

iTunes

Answer 16

2013: 25 billion songs sold (7 mil/day)

Question 17

Overstock

Answer 17

Patrick Byrne May 1999; initially surplus and returned items

Question 18

PayPal

Answer 18

1998; in 2014 had $228 bil in 26 currencies, 190 countries

Question 19

Square

Answer 19

for small businesses, w/ simple credit card transactions

Question 20

NFC

Answer 20

Near field communications (to make secure payments fast and convenient)

Question 21

Apple Pay

Answer 21

Mobile Device + Wallet

Question 22

Changing Economy and Changing Commerce

Answer 22

Collaborative consumption: shared access
Product-service systems: Uber, AirBnB
Redistribution Markets: eBay, Craigslist

Question 23

International Commerce

Answer 23

Inconsistencies (language, currency, culture);
legal limitations;
payment variation;
logistics/delivery

Question 24

eCommerce issues

Answer 24

Security/privacy, fraud, order fulfillment, delivery

Question 25

eCommerce v Retail

Answer 25

eCommerce is cheaper but retail has higher profit margin; eCommerce has more competition but no limit on customers