e-commerce

What is e-commerce information density

Information density is the total amount of information as well as the quality of information available to all individuals in a market including customers and stakeholders.

Why is maintaining customer loyalty so important for an e-commerce organization?

It costs up to five times more to acquire a new customer than to retain an existing one. Plus, the success rate of selling to an existing customer is much higher than the success rate of selling to a new one.

What are the global percentages of users between the ages of 16 and 64 who have searched online for a product to buy? Visited an online retail store? Bought a product online?

Searched online to buy a product or service: 80 percent Visited an online retail store: 90 percent Purchased a product online: 74 percent

What type of things do consumers expect from e-commerce?

Social media options Traditional websites Online retail options Face-to-face retail options

What are some issues that are related to e-commerce?

Some of these issues include data security and theft, ethical e-commerce practices, competitor analysis, and customer loyalty.

Cost transparency

The actual costs a seller paid to acquire the goods or service

Internet of Things

combines connected devices with automated systems that gather data, analyze the data, and convert the data into usable information

Raster data

composed of pixels or grid cells and designed to make square shapes.

Vector data

composed with vertices and paths and includes points, lines, and areas represented by polygons.

m-commerce

e-commerce done through a mobile device

Geodata

information about geographic locations stored in a geographic information system (GIS) and is based on different types of geographic data.

Customer acquisition costs (CAC)

is a metric that is used by e-commerce companies and other sales-related organizations to assess the costs associated with convincing a potential customer to purchase a service or product.

Cost-benefit analysis

is a useful tool used to analyze the costs associated with implementing a project or set of activities and the benefits that can be achieved as a result of the implementation. Cost-benefit can be expressed in monetary units as well as in the overall impact on an organization or operating unit.

An e-commerce presence map

is an illustration of the various touchpoints where current customers, potential customers, and stakeholders can be influenced by e-commerce activities. An e-commerce presence map outlines the type of presence, the platform, and the activity conducted on the platform. This type of analysis can be beneficial because it provides an organization the ability to analyze the various activities needed to reach target publics.

User generated content

is online content that has been created and posted by unpaid contributors such as customers or fans of a product or service. These contributors help to promote a brand or image without any direct influence by an organization.

E-commerce ubiquity

is the ability of an organization to create a strong presence among consumers in many places, with minimal time constraints, to sell the products and services they offer.

e-commerce

landscape is dynamic, changing, and growing. Today e-commerce focuses on the Internet of Things (IoT), location, various types of shopping experiences, mobile commerce, and the effects of artificial intelligence. However, there will be changes in the future that require consideration now.

Re-commerce

selling used, old, or obsolete products via the Internet in exchange for a new product or a cash payout.

Price transparency

the ability to allow consumers to easily find prices for goods or services

Personalization

the ability to create and send marketing messages with a user's name, interests, and purchasing behavior directed toward specific target markets.

Ubiquity

the ability to have a presence in many places simultaneously.

Information density

the total amount of information and the quality of information available to all individuals in a market including customers and stakeholders.

Business-to-business (B2B)

transactions between two businesses

Consumer-to-Business (C2B)

transactions that exist when consumers provide services to businesses, often accomplished through a bidding or auction.

Consumer-to-Consumer (C2C)

transactions that exist when one consumer sells to another consumer, as with sites like eBay or Craigslist.

Business-to-Consumer (B2C)

transactions that take place when a consumer buys or contracts from a business.

Business-to-Government (B2G)

transactions that take place when the selling of goods or services from a business to a governmental organization takes place through an online platform.

Consumer-to-Administration (C2A)

transactions where consumers interact with the government for things such as paying taxes or securing permits.

Location-based services (LBS)

uses geodata to get information about geographic locations

Customization

when an organization adjusts its product or service offerings based on an individual's preferences or past buying behavior.