Chapter 1 & 2 Review
The size of the B2B market in 2017 was estimated at
$6.7 trillion
Craigslist is an example of
C2C (consumer to consumer) e-commerce
mobile device
In 2016, almost 93% of Americans who access the Internet use a (blank) at least some of the time.
The following are true statements about e-commerce in the United States in 2016:
Over 210 million U.S. consumers use mobile apps, On-demand service firms are fueling the growth of local e-commerce, and Growth rates for retail e-commerce are higher in Europe than in the United States.
digital commerce
The terms (blank) is synonymous with e-commerce
A strategy designed to compete within a narrow market or product segment is called
a focus strategy.
Financial model is another name for
a revenue model
Venture capital investors typically becomes interested in a start-up company
after it has begun generating revenue
A wealthy individual who invests personal funds in a start-up in exchange for an equity share in the business is referred to as
an angel investor.
Sales is the primary revenue model for
an e-distributor
bricks-and-clicks, virtual merchant, and manufacturer-direct
are all a variation of the e-tailer business model
LinkedIn, Facebook, and Pinterest
are all community providers
In the market creator business model, a web-based business
builds a digital environment in which buyers and sellers can meet, display products, search for products, and establish prices.
E-commerce and e-business systems blur together at the
business firm boundary, at the point at which internal business systems link up with suppliers or customers.
e-commerce
can be defined as the use of the Internet, the Web, and mobile apps to transact business.
Value proposition and revenue model are typically the most easily identifiable aspects of a
company's business model.
Richness refers to the
complexity and content of a message.
E-procurement firms
create and sell access to digital markets.
The term e-commerce refers to the
digital enabling of transactions and processes involving an exchange of value across organizational boundaries.
Innovative entrepreneurs and their business firms that destroy existing business models are referred to as
disruptors.
Asymmetries
enable some firms to have an edge over others.
A value proposition defines
how a company's product or service fulfills the needs of a customer.
A firm's revenue model describes
how a firm will produce a return on invested capital.
The business strategy of cost competition involves
implementing a new, more efficient set of business processes that other firms cannot yet obtain
Organizations that typically provide an array of services to start-up companies along with a small amount of funding are referred to as
incubators
Subscription revenue model
involves a company giving away a certain level of product or services without charge, but then charging a fee for premium levels of the product or service
Personalization
involves targeting marketing messages to specific individuals by adjusting the message based upon a consumer's preferences or past purchasing behavior.
Social technology
is a features of e-commerce technology allows users to participate in the creation of online content.
Richness
is a features of e-commerce technology enables merchants to market and sell "complex" goods and services to consumers via marketing messages that can integrate video, audio, and text.
Marketplace
is a physical place you visit to conduct business
The enabling of two-way communication between consumer and merchant
is a traditional tradeoff between the richness
The Internet
is a worldwide network of computer networks.
Go2Paper
is an example of B2B (Business to business) e-commerce
Amazon
is an example of B2C (business to consumer) e-commerce
Airbnb
is an example of an on-demand service company
Amazon's inventory control system
is an example of e-business.
is an example of social e-commerce.
The best definition of transaction cost
is the cost of participating in a market.
B2B e-commerce
is the largest type of e-commerce.
The use of a company's competitive advantage to penetrate surrounding markets is known as
leverage.
The global reach of e-commerce technology changes industry structure by
lowering barriers to entry but greatly expands the market at the same time
The existence of many competitors in any one market segment
may indicate the market is saturated.
The firm's management team gives a business model the
most credibility with outside investors
The basic value proposition of community providers is they
offer a fast, convenient one-stop site where users can focus on their most important concerns and interests.
In general, the key to becoming a successful content provider is to
own the content being provided. Portals primarily generate revenue in all of the following ways: charging advertisers for ad placement, collecting transaction fees, and charging subscription fees.
Competitive environment is the element of the business model that refers to the
presence of substitute products in the market
Selection and convenience represents Amazon's
primary value propositions
E-commerce technologies
provide a unique, many-to-many model of mass communication.
The total number of users or customers an e-commerce business can obtain is called
reach.
Instagram, Twitter, and Pinterest are all examples of
social networks
Sustaining technologies are
technologies that enable the incremental improvement of products and services.
Above all, e-commerce is a
technology driven phenomenon.
The following are a major business trends in e-commerce in 2016-2017:
the growth of a mobile app ecosystem, the emergence of social e-commerce, and the growth of the on-demand service firms
In 1995 e-commerce was said
to have begun
E-commerce is available just about everywhere and anytime. This is known as
ubiquity.
A market strategy specifically details how
you plan to find customers and sell your product.
If you wished to leverage the ubiquitous nature of the Web to differentiate your product,
you would enable individual customization of the product by consumers.
