E-Commerce Chpt 8

Electronic payment systems

Alternative cash or credit payment methods using various electronic technologies to pay for products and services in electronic commerce.

Catalog

An electronic catalog shopping and ordering site for products from many suppliers in an industry.

Workflow management

E-business workflow systems for enterprise collaboration help employees electronically collaborate to accomplish structured work tasks within knowledge-based business processes. Workflow management in both e-business and e-commerce depends on a workflow software engine containing software models of the business processes to be accomplished. The workflow models express the predefined sets of business rules, roles of stakeholders, authorization requirements, routing alternatives, databases used, and sequence of tasks required for each e-commerce process. Thus, workflow systems ensure that the proper transactions, decisions, and work activities are performed, and the correct data and documents are routed to the right employees, customers, suppliers, and other business stakeholders.

Access control and security

E-commerce processes must establish mutual trust and secure access between the parties in an e-commerce transaction by authenticating users, authorizing access, and enforcing security features. For example, these processes establish that a customer and e-commerce site are who they say they are through user names and passwords, encryption keys, or digital certificates and signatures. The e-commerce site must then authorize access to only those parts of the site that an individual user needs to accomplish his or her particular transactions. Thus, you usually will be given access to all resources of an e-commerce site except for other people's accounts, restricted company data, and Web master administration areas.

Search Management

Efficient and effective search processes provide a top e-commerce Web site capability that helps customers find the specific product or service they want to evaluate or buy. E-commerce software packages can include a Web site search engine component, or a company may acquire a customized e-commerce search engine from search technology companies like Google and Requisite Technology. Search engines may use a combination of search techniques, including searches based on content (e.g., a product description) or parameters (e.g., above, below, or between a range of values for multiple properties of a product).

Auction

Goods sold to highest bidder..electronic auctions

Business-to-Business (B2B)

If B2C activities are the tip of the iceberg, B2B represents the part of the iceberg that is under the water—the biggest part. This category of e-commerce involves both e-business marketplaces and direct market links between businesses. For example, many companies offer secure Internet or extranet e-commerce catalog Web sites for their business customers and suppliers. Also very important are B2B e-commerce portals that provide auction and exchange marketplaces for businesses. Others may rely on electronic data interchange (EDI) via the Internet or extranets for computer-to-computer exchange of e-commerce documents with their larger business customers and suppliers.

Business-to-Consumer (B2C)

In this form of e-commerce, businesses must develop attractive electronic marketplaces to sell products and services to consumers. For example, many companies offer e-commerce Web sites that provide virtual storefronts and multimedia catalogs, interactive order processing, secure electronic payment systems, and online customer support. The B2C marketplace is growing like a wildfire but still remains the tip of the iceberg when compared with all online commerce.

E-commerce marketplaces

Internet, intranet, and extranet Web sites and portals hosted by individual companies, consortiums of organizations, or third-party intermediaries providing electronic catalog, exchange, and auction markets to unite buyers and sellers to accomplish e-commerce transactions.

E-Commerce processes

Nine key components of an e-commerce process architecture that is the foundation of the e-commerce initiatives of many companies today. 1. Access Control and Security 2. Profiling and Personalizing 3. Search Management 4. Content Management 5. Catalog Management 6. Payment 7. Workflow Management 8. Event Notification. 9. Collaboration and Trading

Profiling and personalizing

Profiling processes can occur that gather data on you and your Web site behavior and choices, as well as build electronic profiles of your characteristics and preferences. User profiles are developed using profiling tools such as user registration, cookie files, Web site behavior tracking software, and user feedback. These profiles are then used to recognize you as an individual user and provide you with a personalized view of the contents of the site, as well as product recommendations and personalized Web advertising as part of a one-to-one marketing strategy. Profiling processes are also used to help authenticate your identity for account management and payment purposes and gather data for customer relationship management, marketing planning, and Web site management

Content and catalog management

Software works with the profiling tools to personalize the content of Web pages seen by individual users. Content management software helps e-commerce companies develop, generate, deliver, update, and archive text data and multimedia information at e-commerce Web sites. Finally, content and catalog management may be expanded to include product configuration processes that support Web-based customer self-service and the mass customization of a company's products. Configuration software helps online customers select the optimum feasible set of product features that can be included in a finished product. For example, both Dell Computer and Cisco Systems use configuration software to sell built-to-order computers and network processors to their online customers.

Event notification

Software works with workflow management software to monitor all e-commerce processes and record all relevant events, including unexpected changes or problem situations. Then it works with user-profiling software to notify all involved stakeholders automatically of important transaction events using appropriate user-preferred methods of electronic messaging, such as e-mail, newsgroup, pager, and fax communications. This notification includes a company's management, who then can monitor their employees' responsiveness to e-commerce events and customer and supplier feedback.

E-Commerce (Electronic Commerce)

The buying and selling, marketing and servicing, and delivery and payment of products, services, and information over the Internet, intranets, extranets, and other networks, between an internetworked enterprise and its prospects, customers, suppliers, and other business partners. Includes business-to-consumer (B2C), business-to-business (B2B), and consumer-to-consumer (C2C) e-commerce.

Electronic Funds Transfer (EFT)

The development of banking and payment systems that transfer funds electronically instead of using cash or paper documents such as checks.

Consumer-to-Consumer (C2C)

The huge success of online auctions like eBay, where consumers (as well as businesses) can buy from and sell to one another in an auction process at an auction Web site, makes this e-commerce model an important e-commerce business strategy. Thus, participating in or sponsoring consumer or business auctions is an important e-commerce alternative for B2C, C2B (consumer-to-business), or B2B e-commerce. Electronic personal advertising of 316317products or services to buy or sell by consumers at electronic newspaper sites, consumer e-commerce portals, or personal Web sites is also an important form of C2C e-commerce.

Collaboration and trading

This major category of e-commerce processes consists of those that support the vital collaboration arrangements and trading services needed by customers, suppliers, and other stakeholders to accomplish e-commerce transactions. customer-focused e-business uses tools such as e-mail, chat systems, and discussion groups to nurture online communities of interest among employees and customers to enhance customer service and build customer loyalty in e-commerce.

Portal

a website that functions as an entry point to the Internet, as by providing useful content and linking to various sites and features on the World Wide Web. 1. a door, gate, or entrance, especially one of imposing appearance, as to a palace. 2. an iron or steel bent for bracing a framed structure, having curved braces between the vertical members and a horizontal member at the top. 3. an entrance to a tunnel or mine

Exchange

an exchange for buying and selling via a bid-ask process or at negotiated price

Infomediaries

bring buyers and sellers together in catalog, exchange, and auction markets. Infomediaries are companies that serve as intermediaries in e-business and e-commerce transactions.

Clicks-and-bricks strategy

companies are recognizing that success will go to those who can execute clicks-and-mortar strategies that bridge the physical and virtual worlds. Different companies will need to follow very different paths when deciding how closely—or loosely—to integrate their Internet initiatives with their traditional operations.

Search Engine Optimization

considered a subset of search engine marketing, and focuses on improving the number and/or quality of visitors to a Web site over "natural" (aka "organic" or "algorithmic" search engine) listings. The term SEO can also refer to "search engine optimizers," an industry of consultants who carry out optimization projects on behalf of clients.

E-commerce channel

the marketing or sales channel created by a company to conduct and manage its chosen e-commerce activities. How this e-commerce channel is integrated with a company's traditional sales channels (e.g., retail/wholesale outlets, catalog sales, and direct sales) is a major consideration in developing its e-commerce strategy.