E-Commerce Chapter 1 (CIS 3317)
Identify the (7) factors that will define future of e-commerce
# of successful pure online co. will continue to decline, most successful co. will have a combo of brick and click strategies
Describe and identify Web 2.0 Applications
A set of applications and technologies that allows users to create, edit, and distribute content; share preferences, bookmarks, and online personas. "Build online Communities" 1. Rely on user- and consumer-generated content 2. Easy search capability is key to success 3. highly interactive 4. Rely on broadband connectivity. 5. marginally profitable 6. attract large audiences Ex. Social networks, YouTube, and Wikipedia
Describe the (5) major types of e-commerce
B2B (Business to Business) Largest form of e-commerce 3.36 trillion in 2009.
Describe the (5) major types of e-commerce
B2C (Business to Consumer) Type most consumers are likely to encounter
Identify the (2) major academic disciplines contributing to e-commerce
Behavioral Side Socialologists - Studies of internet usage - Use of the web as a communications tool Finance & Accounting: Firm valuation and accounting practices - MGMT: Entrepreneurial behavior - MKTG: Reponse of consumers to online advertising and firms ability of branding, segment markets, target audiences, etc.
Describe 3 major themes of the study of e-commerce
Business - Electronic markets - information goods - Business models - Firm and industry value chains - Industry structure - Consumer behavior in electronic markets
Describe the (5) major types of e-commerce
C2C (Consumer to Consumer) eBay
Evolution of e-commerce (3) Stages
Consolidation - From March 2000 - 2005 -emphasis shifted to a more business driven approach rather then technology. -large firms used the web to increase market position
Identify the (7) factors that will define future of e-commerce
E-commerce prices will continue to rise to cover cost of doing bus on the web
Identify the (7) factors that will define future of e-commerce
Entrpreneurs will play role in pioneering new social apps.
Potential Limitations of B2C
Expensive technology Sophisticated Skill Set Cultural attraction to physical markets Global inequality Saturation and ceiling effects
Identify the (7) factors that will define future of e-commerce
Fortune 500 Co. will play a dominant role
Identify and describe the (8) unique features of e-commerce.
Global reach Bus. can be done globally and across cultures reach-the total number of users or customers an e-commerce business can obtain.
Identify and describe the (8) unique features of e-commerce.
Information Density Total amount, timeliness, and quality of info available to merhants.
Evolution of e-commerce (3) Stages
Innovation - early years the infrastructure was created which laid the groundwork for future growth disintermediation- displacement of market middlemen. friction free commerce- vision of commerce which information is equally distributed, low cost, adjustable prices, decline of intermediaries, and unfair competitive advantages are eliminated. first movers- a firm that is first to market in a particular area and that moves quickly to gather market share. network effect- occurs where users receive value from the fact that everyone else uses the same tool or product.
Identify and describe the (8) unique features of e-commerce.
Interactivity Allows for two way communication...similar to face to face because of interconnectivity of the internet.
Define e-commerce
Involves digitally enabled transactions between and among organizations and individuals. Commercial transactions involve the exchange of value across organ. or indiv. boundaries in return for products or services.
Describe the (5) major types of e-commerce
M-Commerce (Mobile Commerce) Use of mobile devices to facilitate commerce
Identify the (7) factors that will define future of e-commerce
Overall revenues, # of products and services over the web, amount of web traffic all rising in future.
Describe the (5) major types of e-commerce
P2P ( Peer to Peer) File sharing of music, videos, etc
Identify and describe the (8) unique features of e-commerce.
Personalization/Customization Targeting a marketers message based on name, history, preferences etc. personalization-the targeting to a specific individuals name, interest, or past purchases customization- changing the delivered product or service based on a users preferences or prior behavior.
Identify the (7) factors that will define future of e-commerce
Regulation of e-commerce and Web will continue to grow in US and the world
Evolution of e-commerce (3) Stages
Reinvention - Social networking and Web 2.0 apps. 2006- to present Audience, customer, and community driven
Identify and describe the (8) unique features of e-commerce.
Richness Refers to the complexity and content of the message. MKTG messages with video, text, audio, etc.
Identify and describe the (8) unique features of e-commerce.
Social Technology Social platforms and their interconnectivity of users.
Describe 3 major themes of the study of e-commerce
Society Societal pressures such as - Intellectual property - individual privacy - public policy
Identify the (2) major academic disciplines contributing to e-commerce
Technical Side - Computer scientists - building mathematical models - IT professionals interested on impact to industry value chains, structure, and corporate strategy - Economists - Consumer behavior
Describe 3 major themes of the study of e-commerce
Technology - Understanding IT on which it is built - WWW - Internet - PCs, LAN, protocols such as TCP/IP - Web servers - HTML
Identify and describe the (8) unique features of e-commerce.
Ubiquity Available everywhere. Business can be done practically any time marketplace- physical space you visit in order to transact markespace- market place extended beyond traditional boundaries and removed form temporal and geographic locations
Identify and describe the (8) unique features of e-commerce.
Universal Standards Shared by all nations across the world
Information asymmetry
any disparity in relevant market information among parties in a transaction.
How does e-commerce differ from e-business?
e-business refers to the digital enabling of transactions and processes within a firm, involving IS under control of the firm. e-commerce is external.
Identify the (7) factors that will define future of e-commerce
e-commerce margins and profits will rise to levels of traditonal retailers
World Wide Web
most popular service that runs on the Internet
Internet
worldwide network of computer networks built on common standards.
