E-Commerce Module 1 Intro To E-Commerce

Front 1

What are the three basic elements of electronic commerce?

Back 1

Business to consumers, business to business, and processes that supports selling and purchasing activities on the Web.

Front 2

What is the principal advantage of electronic commerce?

Back 2

Reduced costs.

Front 3

Are products that buyers want to touch, smell, or examine closely easy or hard to sell using electronic commerce? Why?

Back 3

Hard to sell because the buyer cannot inspect from closely before purchase.

Front 4

True or false, a business operating in the United States is not bound by the laws of Germany when selling to a German customer.

Back 4

False

Front 5

What federal agency first developed the Internet?

Back 5

Department of Defense

Front 6

What federal agency oversaw the privatization of the Internet?

Back 6

National science foundation

Front 7

What terms used to describe the total cost incurred by a buyer and a seller in a transaction?

Back 7

Transaction costs.

Front 8

Electronic commerce promotes the growth of hierarchies or markets?

Back 8

Markets.

Front 9

What are the six primary activities of the value chain?

Back 9

Design, produce, promote, market, deliver, and support.

Front 10

Using transaction costs explain the economic benefits of electronic commerce.

Back 10

With all other things being equal, transaction costs, the cost to the buyer and the cost to the seller involved in the exchange of a good, are lower in the e-commerce network as opposed to the traditional commercial exchange.

Front 11

Using value chain's explain the economic benefits of electronic commerce.

Back 11

Buyers and Sellers benefit when costs are reduced by either eliminating steps in the value chain, or by increasing throughput on an existing chain, or by creating a new flow of value in an industry. Keep in mind, only those buyers or those Sellers in a position of control reap the additional profits.

Front 12

Explain why companies are developing a bricks and clicks, rather than just clicks strategy.

Back 12

Customers need both types of distribution channels.

Front 13

What is revolutionary about the Web and Internet, functionality or simplicity?

Back 13

Simplicity.

Front 14

Before the Web, files can be retrieved from the Internet using file transfer protocol. Why didn't the e-commerce revolution occur using FTP?

Back 14

While the functionality was there, the required skill to use FTP for e-commerce was beyond most potential players.

Front 15

Discuss the role of value chain's related to online travel Web services such as Expedia.com vs. traditional travel agencies. How the roles of the travel agent and customer changed because of these services?

Back 15

The travel agent has been marginalized; the customer often has more information than what the travel agent does. The travel agent has had to develop new ways of producing value for the customer. For example, creating entire experiences as opposed to simply booking a flight.

Front 16

Review the Hobbs Internet timeline (www.zakon.org/robert/internet/timeline/). What are the most significant events in the timeline and why?

Back 16

In my opinion, the privatization of the Internet in the advantage browser standards for the most significant events for e-commerce to date.

Front 17

Jeff Bezos, the founder of Amazon.com, has hired you to developing new business area for Amazon.com. What type of product line you recommend and why?

Back 17

Any product line that does not require inventory, and that does not require the customer to examine it closely prior to purchase

Front 18

As the preliminary step in preparing a business plan for new electronic commerce, brainstorm ideas for new electronic commerce product or service.

Back 18

A brainstorming session should be based on the strategic triangle.