Chapter 1 ecommerce
Social technology
User content generation and Social Network Technologies
Web 2.0
User-centered applications and social media Technologies examples or Twitter Youtube Instagram Wikipedia Tumblr and Uber
Internet
Worldwide network of computer networks built on common standards
Basic Ecommerce models
Business-to-consumer, business-to-business and consumer-to-consumer
Network effect
Occurs where users receive value from the fact that everyone else uses the same tool or product
In which year did Ecommerce begin
1995
First mover
A firm that is first-to-market and a particular area and that moves quickly together Market sure
The early years of e-commerce are considered
A stunning technological success as the internet and the women crease from a few thousands to billions of e-commerce transactions per year
Friction free Commerce
A vision of cameras in which information is equally distributed transaction costs or low prices can be dynamic we adjusted to reflect actual demand and get rid of unfair competitive advantages
Information asymmetry
Any disparity and relevant Market information among parties in a transaction
E-Business
As a digital enable mitt of transactions and processes within a firm and therefore does not include any Exchange in value
2001 - 2006
Consolidation emphasis on business driven approach traditional large firms expand presents startup financing the shrinks up more complex products and services sold
An example of consumer-to-consumer Ecommerce
Craigslist
A term that is synonymous with eCommerce
Digital Commerce
Disintermediation
Displacement of Market middleman who traditionally or intermediaries between producers and consumers buy a new direct relationship between producers and consumers
Interactivity
Ecommerce Technologies allowed to a communication between the merchant and the consumer
Personalization customization
Ecommerce Technologies enable Merchants to Target their marketing messages to a person's name interests and past purchases all the merchants to change the product or service to suit their purchasing behavior and preferences of the consumer
Social Ecommerce
Ecommerce enabled by social networks and online social relationships such as Facebook
Local Ecommerce
Ecommerce that is focused on engaging the consumer based on his or her current geographic location Uber example
What's an example of a business-to-business e-commerce
Go 2 paper
Growth in information density can result in what
Greater price transparency greater cost transparency greater opportunities for marketers to practice price discrimination
Richness
Information that is complex in content-rich can be delivered without sacrificing rich
The three stages the Ecommerce has gone through
Innovation consolidation and reinvention
1995 - 2000
Innovation key Concepts were developed limited bandwidth and media
Marketplace
Is a physical species isn't in order to transact
World Wide Web
Is one of the most popular services that runs on the internet infrastructure provides access to billions of web pages
Ubiquity
It is available just about everywhere and at all times
Market space
Marketplace extended Beyond traditional boundaries and removed from a temporal and geographic location
2007 to present
Rapid growth of online social networks mobile platforms and local
The three benefits of universal standards
Reader reduced search costs for consumers, become simpler faster with more accurate price discovery Lower Market entry cost for merchants
Organizing themes
Technology: the development and Mastery of digital Computing and Communications technology. business: new technologies present businesses with new ways of organizing production in transacting business and Society: intellectual property individual privacy and public welfare policy
Which of the following was the first truly large-scale digitally enable transaction system in the business-to-consumer arena
The French minitel
Transaction cost
The cost of participating in a market
Global reach
The potential Market size is roughly equal to the size of the online population of the world
Webrooming
The practice of researching a product online before purchasing it at a physical store
Universal standards
The technical standards of the internet and therefore of conducting eCommerce are shared by all the nations in the world
Information density
The total amount and quality of information available to all Market participants is vastly increased and is cheaper to deliver
Reach
The total number of users or customers and eCommerce business can obtain
E-commerce
The use of the internet in the web to conduct business transactions
The difference between Ecommerce and ebusiness
There's no commercial transaction that takes place in E-Business business. which is an exchange of value across organizational or individual boundaries