Chapter 7 Flashcards
What is Electronic Commerce?
process of buying, selling, transferring, or exchanging products, services, or information through computer networks
What are the 3 ways that E-commerce significantly influences organizations?
- Increases reach
-removes barriers that use to stop people from starting small businesses
- changes the nature of competition
What are the 7 major types of electronic commerce?
Business-to-consumer (B2C)
Business-to-business (B2B)
Consumer-to-consumer (C2C)
Business-to-employee (B2E)
Government-to-citizen (G2C)
Mobile commerce
Social commerce
Conversational commerce
What is Electronic Business?
buying and selling of goods and services, and servicing customers, collaborating with business partners, and performing electronic transactions within an organization
What is the Degree of Digitilization?
extent to which the commerce has been transformed from physical to digital
What are the three degrees of digitilization?
-purely physical (brick and mortar)
- Pure EC (virtual/pure-play)
-Partial EC (Clicks-and-mortar)
What are the 2 types of auctions?
Forward auctions
Reverse auctions
What is the difference between electronic storefront and electronic mall?
Storefront is just one shop, mall is multiple sellers under the same internet address
What is a electronic marketplace?
a place that many sellers go to conduct e-business. mainly for B2B
What are the various online payment methods?
Electronic cheques
Electronic cards
Purchasing Cards
Stored-value money cards
EMV smart cards
Strengths and weaknesses of e-commerce?
Strengths: easily and conveniently deliver information, services, and products to people both in the country and internationally.
Weaknesses: lack of universal security standards, using the web is expensive, perceived as not secure
Difference between B2B complexities and B2C complexities?
B2B problems are business related
B2C problems are technical and volume related
What are the 3 major issues related to e-tailing?
Channel conflict, order fulfillment, and personalized pricing
What is disintermediation?
Intermediaries are eliminated
What are the 3 models that B2B uses?
Sell-side marketplaces
- Selling something to other businesses
Buy-side marketplaces
- Wanting to buy something from another business
Electronic exchanges
