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