Defining E-commerce

What is E-commerce in Word Bank

Short for electronic commerce; refers to all forms of business transactions conducted electronically over computer networks

What is E-tailing in Word Bank?

Short for electronic commerce; refers to all forms of business transactions conducted electronically over computer networks.

What is EDI in Word Bank?

Electronic Data Interchange; a networking technology predating the Internet that facilitated the exchange of data from one computer to another.

What is Electronic Data Interchange (EDI) in E-commerce Timeline?

Facilitated the exchange of data - invoices! Purchase orders, Shipping confirmation- from one computer to another.

What is the 4 major business models and other business model?

1) Business to Business (B2B) 2) Business to Consumer (B2C) 3) Consumer to Business (C2B) 4) Consumer to Consumer (C2C) Peer to Peer (P2P)

What is the Timeline or E-commerce?

1) Electronic Data Interchange (EDI) 2) Electronic Funds Transfer (EFT)

What is Group buying in Word Bank?

Also known as collective buying; a new business model were prices are reduced when a minimum number of buyers make the purchase

What happened in 1997?

Computer maker Dell became the first company in reap $1 million in Internet sales

What is Business Processes?

Create online store with automated systems for accepting payment, shipping the product, and providing customer service. Implement an effective marketing strategy.

What happened in 1982?

France Yelcom introduced Minitel, a similar vidcotex device. besides making online orders, customer could also make train reservations, check stock prices and chat with it. Minitel was a big hit. In 2009, the Minitel network will logged 10 million connection per month.

What happened in 2011?

GSI Commerce which runs online shops for more than 500 brick and mortar businesses, was acquired by eBay for $2.4 billion. In the US alone, e-commerce sales reached $200 billion

What happened in 1998?

Google began as a research project by two Stanford students, Larry Page and Sergey Brin

What happened in 2006?

Google brought video sharing website YouTube for a reported sum of 1.65 billion. Downloads from iTunes, Apple's digital music retailer, surpassed the 1 billion mark

What is Emerging Trends in The Changing Landscape?

Group buying or collective buying. Social Commerce. Private sample sale.

What happened in 2010?

Groupon, a group buying website, rejected a $6 billion acquisition offer from Google

What happened in 1994?

Napetsxape released the Navigator, a graphical browser that used an encryption system for secure online transactions it led to an explosion in Wed use Pizza Hut recorded the first Internet sale.

What is Browser in Word Bank?

A computer interface used to access the Internet

What is World Wide Web in Word Bank?

A system of linked hypertext documents

What happened in 2003 ?

After eight years, Amazon posted its first annual profit. Facemach, the precursor to social networking giant Facebook, was created by Harvard student Mark Zuckerberg

What is a Business Models?

All business activities in e-commerce can be categorised into four major models, based on which parties are engaged in the transaction and base on the direction of the trade.

What happened in 2007?

Broadband Internet users in the US alone reached 200 million, Adwords, Google's main advertising product, earned $2@ billion in revenues

What is Consumer to Business (C2B) in Business Model?

C2B is a rapidly growing trend in e-commerce. Consumers are now empowered to demand specific goods and services from online business. Rather that passively choose a product from a given catalog, customer can directly tell marketers their exact requirements. Using this models, clients may even bid out a projected sale to different sellers - the seller which can best satisfy the given requirements gets the sale. Through C2B, e-commerce has become a two-way street.

What is Consumer to Consumer (C2C) in Business Models?

C2C showcases the egalitarian side of e-commerce. Consumers are given a venue to trade among themselves. It is not required to set up a proper business to sell. It's not even necessary to put up an online store. Anybody can sell anything. All the seller has to do is post whatever it is that he or she has to sale. People can negotiate and haggle, but in most instances the buyer with the best bus gets to purchase the product. Otherwise, prices are fixed and products are sold on a first-come, first-served basis.

What happened in 1995?

Jeff Bezos launched what would become the largest online retailer, Amazon. com in his garage. Piette Omigyar founded eBay as "Auction Web." VeriSign was started to verify the authenticity of online merchants. Craigallist opened in boards for all sort of ad posting

What happened in 1979?

Michael Aldrich a British inventor, build the first platform for online shopping. It used vidcotex services-customers purchased products viewed on a modified television set booked to a telephone line. The platform failed.

What is M-commerce in Word Bank?

Mobile commerce: electronic busses transactions which are carried out a portable device, Ike a cellular phone.

What are the Business Applications?

Online Shopping, Electronic Payment, Online Auctions, Internet Banking and Online booking or ticketing.

What happened in 2002?

PayPal, an online payment gateway, was acquired by eBay for $1.5 billion

What is P2P in Word Bank?

Peer to Peer; an e-commerce business model where data is exchanged freely between computer terminals in a network without having to go through a central web server programming language.

What is e-commerce?

Refers to all forms of business transactions conducted electronically over computer network, the Internet in particular. While e-commerce typically means buying and selling online, it is not limited to the basic exchange of goods and services. It also involves many other activities and procedures that are necessary to facilitate, validate or consummate a given transaction. This includes the efficient interaction among producers, consumers and their intermediaries, and the swift flow of business-related data across networks.

What is Business to Business (B2B) in Business Model?

Refers to electronic trade that takes place between companies. Consumers are not involved. Example of this is a producer buying components from suppliers and manufacturers selling finished goods to distributors. Primarily responsible for keeping the supply chain intact. Constitutes the bulk of business transaction in e-commerce.

What is Business to Consumer (B2C) in Business Model?

Simplest and most recognizable form of e-commerce. Online business sell goods and services to the general public. Refers to the direct trade between companies and consumers. B2C is what the average person thinks of When "e-commerce" is mentioned. It is characterised by a line of shops which customers can visit to purchase goods, just like in the traditional sense.

What happened in 1999?

The US Supreme ruled that Internet domain names are private properties, Napster, a peer to peer file sharing website, was launched.

What happened in 2000?

The dot-com bubble burst

What is Shifting Balance in The Changing Landscape?

The evolution of e-commerce is driven not only by technology. More importantly, it is fuelled by how many people actually see it, and the extent with which they have embraced it as a part of their daily lives.

What happened in 1987?

The first online merchant account was created by Sweg to help software developers sell their solutions. The US company became the first to accept online payment for electronic purchases

What is Peer to Peer (P2P) in Business Models?

The most preferred mode of sharing information because it allows computer terminals in a network to hook up without having to go through a central web server. Not popular among online entrepreneurs because it is not suitable for income generation. Because P2P was intended to be a means for the free exchange of data, it lacks the necessary safeguards to prevent piracy. As a result, a lot of people use P2P to share music files and movies illegally.

What happened in 1990?

Tim Bernes-Lee wrote the first browser a computer interface used to access the Internet. It gaved the way foe the birth of the Wolrd Wide Web, a network of linked hypertext documents - or Web pages, as they called now

What is Electronic Funds Transfer (EFT) in E-commerce Timelines?

Used by banks to move huge amounts of money digitally.

What happened in 2009?

Yahoo! And Microsoft's Bing joined forces to challenge Google's dominance in the search market Zappos.com , the largest online shoe store, was acquired by Amazon.com for $1.2 billion. Facebook with more traffic than Google