Chapter 7 Vocab and Quiz
B2B; reverse
An electronic tendering system uses ___ with a ___auction mechanism.
business-to-employee electronic commerce (B2E)
An organization using electronic commerce internally to provide information and services to its employees.
Reverse
As the principal of a local high school, you want to install a wireless WAN to give students better, more secure access to the Internet. You request bids from a few local service providers to get the best price. This is an example of a ___ auction.
forward auctions
Auctions that sellers use as a selling channel to many potential buyers; the highest bidder wins the items.
smart cards
Cards that contains a microprocessor (chip) that enables the card to store a considerable amount of information (including stored funds) and to conduct processing.
mobile commerce (m-commerce)
electronic commerce conducted in a wireless environment
disintermediation
elimination of intermediaries in electronic commerce
virtual marketing
online word-of-mouth marketing
virtual (or pure play) organizations
organizations in which the product, the process, and the delivery agent are all digital
electronic storefront
the website of a single company, with its own internet address, at which orders can be placed
auction
A competitive process in which either a seller solicits consecutive bids from buyers or a buyer solicits bids from sellers, and prices are determined dynamically by competitive bidding.
storefront
An electronic ___ is a website that represents a single store.
reverse auctions
Auctions in which one buyer, usually an organization, seeks to buy a product or a service, and suppliers submit bids; the lowest bidder wins.
buy-side marketplace
B2B model in which organizations buy needed products or services from other organizations electronically, often through a reverse auction
Decentralized; no single institution operates their use
Bitcoin is a type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds; they are ___, which means ___.
electronic payment mechanisms
Computer-based systems that allow customers to pay for goods and services electronically, rather than writing a check or using cash.
consumer-to-consumer electronic commerce (C2C)
Electronic commerce in which both the buyer and the seller are individuals (not businesses).
business-to-consumer electronic commerce (B2C)
Electronic commerce in which the sellers are organizations and the buyers are individuals; also known as e-tailing.
Electronic tendering
In ___, businesses request quotes from suppliers.
Online direct marketing
In ___, manufacturers or retailers sell directly to customers.
Place more ads on each web page
Online advertisers have traditionally favored ___ to increase the number of people who look at an ad.
B2C
Sell-side marketplaces are similar to the ___ model.
B2C; forward
Sell-side marketplaces are similar to the ___ model; ___ auctions are the key mechanism.
The long tail
___ describes the retailing strategy of selling a large number of unique items in small quantities.
Domain Tasting
___ is a legal form of cybersquatting.
B2B; B2C
___ is larger by volume; ___ is more complex.
Direct
___ materials are inputs to the manufacturing process.
multichannel
a process in which a company integrates its online and offline channels
business-to-business electronic commerce (B2B)
electronic commerce in which both the sellers and the buyers are business organizations
public exchanges (or exchanges)
electronic marketplaces in which there are many sellers and many buyers, and entry is open to all; frequently owned and operated by a third party
spamming
indiscriminate distribution of e-mail without the recipient's permission
permission marketing
method of marketing that asks consumers to give their permission to voluntarily accept online advertising and e-mail
brick-and-mortar organizations
organizations in which the product, the process, and the delivery agent are all physical
clicks-and-mortar organizations
organizations that do business in both the physical and digital dimensions
e-procurement
purchasing by using electronic support
cybrsquatting
registering domain names in the hopes of selling them later at a higher price
group purchasing
the aggregation of purchasing orders from many buyers so that a volume discount can be obtained
channel conflict
the alienation of existing distributors when a company decides to sell to customers directly online
electronic retailing (e-tailing)
the direct sale of products and services through storefronts or electronic malls, usually designed around an electronic catalog format and/or auctions
business model
the method by which a company generates revenue to sustain itself
e-government
the use of electronic commerce to deliver information and public services to citizens, business partners, and suppliers of government entities, and those working in the public sector
electronic business (e-business)
A broader definition of electronic commerce, including buying and selling of goods and services, and servicing customers, collaborating with business partners, conducting e-learning, and conducting electronic transactions within an organization.
electronic marketplace
A virtual market space on the Web where many buyers and many sellers conduct electronic business activities.
Wholesalers
Amazon Business is the biggest threat to ___.
marketplace
An electronic ___ is a central, virtual market space on the web where may buyers and many sellers can conduct e-commerce and e-business activities.
sell-side marketplace
B2B model in which organizations sell to other organizations from their own private e-marketplace and/or from a third-party site
does; through high volume in B2B
B2B typically has margins of 2-4 percent; Amazon __ make money___.
Buy-side marketplace
Group purchasing is a common technique in a ___.
Forward; higher
In ___ auctions, sellers solicit bids from many potential buyers; these auctions result in ___ prices over time.
Reverse; lower
In ___ auctions; one buyer wants to purchase a product or a service; these auctions result in ___ prices over time.
Affiliate marketing
In ___, vendors ask partners to place logo on the partner's website and then pay that partner a commission.
Sell-side marketplace
In the ___, organizations sell their products or services to other organizations electronically from their own private e-marketplace website or from a third-party website.
smart
Modern credit cards are ___ cards.
electronic commerce (EC or e-commerce)
The process of buying, selling, transferring, or exchanging products, services, or information via computer networks, including the Internet.
cyberbanking
Various banking activities conducted electronically from home, a business, or on the road instead of at a physical bank location; also known as electronic banking.
***alienating customers Logistics of online activities Handling Returns Marketing resource allocation
Which of the following is NOT a problem associated with channel conflict?
Electronic exchanges
With ___, transactions are conducted efficiently because buyers and sellers all meet in one place.
Virtual
You are a musician. You only sell your songs on iTunes. This is an example of a ___ business.
G2C
You file your income taxes on line. This is an example of ___ e-commerce.
Birck-and-mortar
You own a restaurant in New York City. This is an example of a ___ organization.
Clicks-and-mortar
You sell popcorn in downtown Chicago. It became so popular that you started a website so people all over the country can get your popcorn delivered to their doorstep. This is an example of a ___ business.
Sell-side marketplaces
___ are similar to the B2C model.
Banners
___ are/is electronic billboards that promote a product or a vendor.
Smart
___ cards contain a chip that can store a large amount of information as well as on a magnetic stripe for backward compatibility.
B2B
___ comprises the vast majority of e-commerce by volume.
Vertical
___ exchanges connect buyers and seller in a given industry.
Brick-and-mortar
___ organizations are purely physical.
Cyber-squatting
___ refers to the practice of registering or using domain names for the purpose of profiting from the goodwill or the trademark that belongs to someone else.
electronic mall
a collection of individual shops under one internet address; also known as a cybermall or an e-mall
stored-value money cards
a form of electronic cash on which a fixed amount of prepaid money is stored; the amount is reduced each time the card is used
person-to-person payments
a form of electronic cash that enables the transfer of funds between two individuals, or between an individual and a business, without the use of a credit card