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