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MKTG 103 E-COMMERCE > Chapter 1 > Flashcards

Chapter 1 Flashcards

(52 cards)

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1
Q

is defined as the exchange of goods and services between two or more entities physically.

A

Commerce

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2
Q

Refers to business transactions or information exchange, as
well as buying and selling products from “person to person”

A

Traditional Commerce

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3
Q

Traditional street-side business that offers goods and services to its
customers face-to-face in an office or store that the business owns
or rents.

local grocery store and the corner bank are examples of _________

A

Brick and Mortar

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4
Q

companies and individuals that buy and sell goods and services over the internet using technology such as Electronic Data Interchange (EDI) and Electronic Funds Transfer (EFT)

A

E-Commerce

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5
Q

includes buying and selling goods and services online.

A

Digital Commerce

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5
Q

is the “act or process of selling products via an internet or
mobile app”, auction site, online classified advertisement, online shop, social networking, social media or web shop.

A

Online Selling

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6
Q

is the structured transmission of data between organizations by electronic means.

It is used to transfer electronic documents or business data from one computer system to another computer system.

A

Electronic Data Interchange (EDI)

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7
Q

is the electronic exchange or transfer of money from one account to another.

A

Electronic Funds Transfer (EFT)

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8
Q

refers to any business that applies internet technologies in its operation.

Conducting all business operations using digital
technology.

A

E-business

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9
Q

______________ was developed, allowing businesses to exchange documents electronically.

A

1960 – Electronic Data Interchange (EDI)

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10
Q

invented the World Wide Web, paving the way for e-commerce websites.

A

1989 – Tim Berners-Lee

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10
Q

became the first online marketplace, selling used computers. They used minitel.

A

1982 – Boston Computer Exchange

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10
Q

built the “first online shopping platform using videotex”. Modified TV set hooked to a telephone line. The platform failed.

A

1979 – Michael Aldrich

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11
Q

The Internet became publicly available, enabling online
transactions.

A

1991

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12
Q

Netscape introduced _________ securing online payments.

A

1994 – SSL encryption

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13
Q

was founded, making online payments more secure and
convenient.

A

1998 – PayPal

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13
Q

were launched, “revolutionizing online retail and auctions”

A

1995 Amazon and eBay

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14
Q

launched, becoming a major B2B e-commerce platform.

A

1999 – Alibaba

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15
Q

________ burst, but strong e-commerce players survived.

A

2000 – The dot-com bubble

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16
Q

paving the way for mobile commerce

A

2008 – Apple App Store

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17
Q

opening possibilities for cryptocurrency transactions.

Study These Flashcards
A

2009 – Bitcoin

18
Q

influencing online shopping
trends.

Study These Flashcards
A

2010 – Instagram and Pinterest

19
Q

enhancing digital payments.

Study These Flashcards
A

2011 – Google Wallet

20
Q

Amazon launched ________ integrating AI into shopping experiences.

Study These Flashcards
A

2015 – Alexa

21
enabling businesses to set up online stores easily.
2016 – Shopify
22
_________ gained popularity, later influencing social commerce.
2018 – TikTok
23
accelerated online shopping, with grocery delivery and e-learning surging.
2020 – The COVID-19 pandemic
24
e-commerce became a major trend in China and expanded globally.
2021 – Live streaming
25
shopping and AI-powered recommendations gained traction.
2022 – Metaverse
26
___________ grew significantly, changing how people shop online.
2023 – TikTok Shop and social commerce
27
Trends like voice commerce, drone deliveries, AI-driven personalization, and blockchain-based transactions continue to shape the future of e-commerce.
2024 & Beyond
28
takes place between companies. Consumers are not involved. Producers buying components from suppliers and manufacturers selling finished goods to distributors.
Business to Business (B2B)
29
is the simplest and most recognizable form of e-commerce. Direct trade between companies and consumers.
Business to Consumer (B2C)
30
where individuals create value that businesses consume. Complete reversal of the traditional sense of exchanging goods.
Consumer to Business (C2B)
31
consumers are given a venue to trade among themselves. It is not required to set up a proper business to sell. Anybody can sell anything.
Consumer to Consumer (C2C)
32
Visa, Mastercard, JCB, and UnionPay enable cashless transactions.
Credit & Debit Cards
33
decentralized exchange of goods, services, or information directly between individuals, without the involvement of a central authority or business intermediary. Focus on sharing or lending resources, services, or data. Examples are riding app, lending app, etc.
Peer to Peer (P2P)
34
Apps like GCash, Maya, PayPal, and Apple Pay
E-Wallets (Digital Wallets)
35
Platforms like PayMongo, Xendit, and Dragonpay
Payment Gateways
35
Bank apps and services like BPI Online, BDO Digital Banking, and Instapay
Online Banking & Fund Transfers
36
Scanning QR codes for fast payments (e.g., GCash QR, Maya QR, WeChat Pay).
QR Code Payments
37
Bitcoin, Ethereum, and other digital currencies
Cryptocurrency Payments
38
Tap-to-pay technology via Google Pay, Apple Pay, and RFID cards.
Contactless Payments (NFC)
39
Services like Spaylater, BillEase, and Homecredit allow installment payments without a credit card.
Buy Now, Pay Later (BNPL)
40
is an order fulfillment method where the seller does not keep inventory. the order is sent to a third-party supplier who ships the product directly to the customer.
Dropshipping
41
handle inventory storage, packing, and shipping on behalf of e-commerce businesses.
Fulfillment Services
42
BENEFITS OF E-COMMERCE
Global Reach 24/7 Availability Data-Driven Decision Lower Costs
43
Sell to customers worldwide.
Global Reach
44
No time restrictions for shopping.
24/7 Availability
45
Use analytics to improve sales.
Data-Driven Decision
46
Reduce expenses compared to physical stores
Lower Costs
52
Buying, selling, and conducting financial transactions through mobile devices like smartphones and tablets. It is a growing segment of e- commerce, enabling users to shop, pay bills, transfer money, and more through mobile apps and websites. Mobile-friendly apps for shopping like Shopee and Lazada
MOBILE COMMERCE

MKTG 103 E-COMMERCE (3 decks)

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