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33 Cards in this Set

  • Front
  • Back
the digital enabling of transactions and processes within a firm, involving information systems under the control of the firm
the use of the Internet and the Web to transact business; more formally, digitally enabled commercial transactions between and among organizations and individuals
types of e-commerce
business-to-consumer, business-to-business, consumer-to-consumer, peer-to-peer, mobile commerce
business-to-consumer (B2C) e-commerce
online businesses selling to individual consumers; most commonly discussed type (ex: Amazon)
business-to-business (B2B) e-commerce
online businesses selling to other businesses (ex: Go2Paper.com)
consumer-to-consumer (C2C) e-commerce
consumers selling to other consumers with the help of an online market maker (ex: eBay, Craigslist)
peer-to-peer (P2P) e-commerce
use of peer-to-peer technology, which enables Internet users to share files and computer resources directly without having to go through a central Web server, in e-commerce
mobile commerce (m-commerce)
use of wireless digital devices to enable transactions on the Web (ex: smartphones, tablets)
8 unique features of e-commerce technology
ubiquity, global reach, universal standards, richness, interactivity, information density, personalization/customization, social technology
available just about everywhere, at all times; customer convenience is enhanced, and shopping costs are reduced
global reach
the technology reaches across cultural and national boundaries, around the Earth, seamlessly and without modification
universal standards
standards that are shared by all nations around the world
the complexity and content of a message
technology that allows for two-way communication between merchant and consumer
information density
the total amount and quality of information available to all market participants
personalization of marketing messages and customization of products and services are based on individual characteristics
social technology
user content generation and social networks; new Internet social and business models enable user content creation and distribution, and support social networks
e-commerce and regulatory activity
potential limitations on the growth of B2C e-commerce are: expensive technology, sophisticated skill set, persistent cultural attraction of physical markets and traditional shopping experiences, persistent global inequality limiting access to telephones and personal computers, saturation and ceiling effects
origins of e-commerce
late 1970s- Baxter Healthcare, pharmaceutical firm, initiated a primitive form of B2B e-commerce by using a telephone-based modem; later expanded in the 1980s to a PC-based remote order entry system; e-commerce begins in 1995
societal issues related to e-commerce
individual privacy is challenged; cost of distributing digital copies of copyrighted intellectual property is nearly zero which makes it hard to protect; public welfare policy issues of equity, equal access, content regulation, and taxation
worldwide network of computer networks built on common standards; only took 10 years for the Internet/Web to achieve a 53% share of U.S. households
World Wide Web (www/the Web)
the most popular service that runs on the internet; provides easy access to Web pages
characteristics of the web
provides access to billions of Web pages indexed by Google and other search engines that are created in a langauge called HyperText Markup Language
history of the web
developed in early 1990s
history of e-commerce
innovation (1995-2000)- explosive growth, consolidation (2001-2006)- period of reassessment and double-digit growth, reinvention (2006-present)- period of redefinition
information asymmetry
any disparity in relevant market information among parties in a transaction
physical space you visit in order to transact
marketplace extended beyond traditional boundaries and removed from a temporal and geographic location
Web 2.0
a set of applications and technologies that allows users to create, edit, and distribute content
displacement of market middlemen who traditionally are intermediaries between producers and consumers by a new direct relationship between manufacturers and content originators with their customers
friction-free commerce
a vision of commerce in which information is equally distributed, transaction costs are low, prices can be dynamically adjusted to reflect actual demand, intermediaries decline, and unfair competitive advantages are eliminated
first mover
a firm that is first to market in a particular area and that moves quickly to gather market share
network effect
occurs where users receive value from the fact that everyone else uses the same tool or product