BUS 140 Chapter 08 Terms

brokerage model

brings sellers and buyers together on the Web and collects commissions on transactions between these parties

E-commerce

buying and selling goods and services over the Internet

Business-to-consumer (B2C)

companies sell directly to consumers

horizontal market

concentrates on a specific function or business process and automates this function or process for different industries

vertical market

concentrates on a specific industry or market. The utilities industry, the beef and dairy industries, and the sale of medical products are examples of vertical markets

Consumer-to-consumer (C2C)

e-commerce involves business transactions between users, such as consumers selling to other consumers via the Internet.

Business-to-business (B2B)

e-commerce involves electronic transactions between businesses

Consumer-to-business (C2B)

e-commerce involves people selling products or services to businesses, such as when a consumer creates online surveys for a company to use.

informediary model

e-commerce sites collect information on consumers and businesses and then sell this information to other companies for marketing purposes

subscription model

e-commerce sites sell digital products or services to customers

E-procurement

enables employees in an organization to order and receive supplies and services directly from suppliers

E-business

encompasses all the activities a company performs in selling and buying products and services using computers and communication technologies

Organizational or intrabusiness e-commerce

involves e-commerce activities that take place inside an organization, typically via the organization's intranet. These activities can include the exchange of goods, services, or information among employees.

Click-and-brick e-commerce

mixes traditional commerce and e-commerce. It capitalizes on the advantages of online interaction with customers yet retains the benefits of having a physical store location.

third-party exchange marketplace

model is not controlled by sellers or buyers. Instead, it is controlled by a third party, and the marketplace generates revenue from the fees charged for matching buyers and sellers

seller-side marketplace

model occurs most often. In this model, sellers who cater to specialized markets, such as chemicals, electronics, and auto components, come together to create a common marketplace for buyerssort of a one-stop shopping model

buyer-side marketplace

model, a buyer, or a group of buyers, opens an electronic marketplace and invites sellers to bid on announced products or make a request for quotation (RFQ). Using this model, buyers can manage the procurement process more efficiently, lower administrative costs, and implement uniform pricing

Electronic payment

refers to money or script that is exchanged electronically. It usually involves use of the Internet, other computer networks, and digitally stored value systems. It includes credit cards, debit cards, charge cards, and smart cards.

Voice-based e-commerce

relies on voice recognition and text-to-speech technologies

e-check

the electronic version of a paper check, offers security, speed, and convenience for online transactions

Search engine optimization (SEO)

a method for improving the volume or quality of traffic to a Web site. A higher ranking in search results should generate more revenue for a Web site

PayPal

a popular online payment system used for many online transactions. Users with valid e-mail addresses can set up accounts and make secure payments for online transactions using their credit cards or bank accounts.

E-cash

a secure and convenient alternative to bills and coins, complements credit, debit, and charge cards and adds convenience and control to everyday cash transactions

value chain

a series of activities designed to meet business needs by adding value (or cost) in each phase of the e-commerce process

smart card

about the size of a credit card and contains an embedded microprocessor chip for storing important financial and personal information. The chip can be loaded with information and updated periodically

advertising model

an extension of traditional advertising media, such as radio and television. Directories such as Yahoo! provide content (similar to radio and TV) to users for free. By creating more traffic with this free content, they can charge companies for placing banner ads or leasing spots on their sites.

E-government

applications can include government-to-citizen, government-to-business, government-to-government, and government-to-employee transactions. Services include tax filing, online voter registration, disaster assistance, and e-training for government employees

Trading partner agreements

automate negotiating processes and enforce contracts between participating businesses

E-wallets

available for most handheld devices, offer a secure, convenient, and portable tool for online shopping. They store personal and financial information, such as credit card numbers, passwords, and PINs

mixed model

to generating revenue from more than one source

Micropayments

transactions on the Web involving very small amounts of money. They began as a method for advertisers to pay for cost per view or cost per click

merchant model

transfers the old retail model to the e-commerce world by using the medium of the Internet

Web marketing

uses the Web and its supporting technologies to promote goods and services