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28 Cards in this Set

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  • Back


A marketplace extended beyond traditional boundaries and removed from a temporal and geographic location.

Transaction costs

Costs incurred when a firm buys on the marketplace what it cannot make itself.

Market entry costs

The cost merchants must pay to bring their goods to the market.

Search Costs

The time,effort, and money spent locating a suitable product and determining the best price for that product.

Information density

The total amount and quality of information available to all market participants, conumers, and merchants.

Price transparency

The ease with which consumers can find out the variety of prices in a market.

Cost transparency

The ability of consumers to discover the actual costs merchants pay for products.

Price discrimination

Selling the same goods, or nearly the same goods, to different targeted groups at different prices

Information asymmetry

Situation where the relative bargaining power of two parties in a transaction is determined by one party in the transaction possessing more information essential to the transaction than the other party.

Menu costs

Merchants costs of changing prices.

Dynamic pricing

Pricing of items based on real-time interactions between buyers and sellers that determine what an item is worth at any particular moment.


The removal of organizations or business process layers responsible for certain intermediary steps in a value chain.

Digital goods

Goods that can be delivered over a digital network.

Intellectual property

Intangible property created by individuals or corporations that is subject to protections under trade secret, copyright, and patent law.

Market creators

an e-commerce business model in which firms provide a digital online environment where buyers and sellers can meet, search for products, and engage in transactions.

Community providers

A website business model that creates a digital online environment where people with similar interests can transact; share interest, photos, video; communicate with like minded people; receive interest-related information; and even play out fantasies by adopting online personalities called avatars.

Revenue model

A description of how a firm will earn revenue, generate profits, and produce a return on investment.

Micropayment systems

Provide content providers with a cost-effective method for processing high volumes of very small monetary transactions( anywhere from $.25 to $5.00 per transaction).

Long-tail marketing

Refers to the ability of firms to profitably market goods to very small online audiences, largely because of the lower costs of reaching very small market segments (people who fall into the long tail ends of a bell curve.)

Behavioural targeting

Tracking the click-streams (history of clicking behaviour) of individuals across multiple Web sites for the purpose of understanding their interests and intentions and exposing them to advertisements that are uniquely suited to their interests.

Electronic data interchange (EDI)

The direct computer-to-computer exchange between two organizations of standard business transactions, such as orders, shipment instructions, or payments.

Private industrial networks

Web-enable networks linking systems of multiple firms in an industry for the coordination of trans-organizational business processes.

Net marketplaces

A single digital marketplace based on Internet technology linking many buyers to many sellers.

Direct goods

Goods used in a production process, such as sheet steel for auto body production.

Indirect goods

Goods not directly involved in the production process, such as office supplies or products for maintenance and repair


Third-party net marketplace that is primarily transaction oriented and that connects many buyers and suppliers for spot purchasing.

Location-based services

GPS services available on smartphones.

Co-location agreement

Firm purchases or leases a Web server ( and has total control over its operation) but locates the server in a vendors physical facility.