use of the Internet and Web to transact business; digitally enabled transactions
E-commerce builds on traditional commerce by adding the _______ that networks and the internet offer. It began in _____ and grew exponentially’ still growing even in a recession.
Business types of commerce include…
1. Bricks-and-mortar business
2. Clicks-and-mortar business (clicks-and-bricks)
3. Pure-play business (also called .com’s, clicks only, or virtual)
E-commerce is different because of _______ which is having Internet/Web technology available everywhere: anytime, anyplace
E-commerce is different because of _______ ______ which is the technology reaches across nation boundaries, around Earth
Ubiquity effect is a new “________”, is enhanced customer convenience and reduced shopping _____
What about e-commerce that is different allows commerce enabled across cultural and national boundaries seamlessly and without modification.
Marketspace includes, potentially, billions of consumers and millions of businesses worldwide
E-commerce is different because of ________ ________ which is one set of technology standards: internet standards.
Universal standard lower _______ ______ ______ – costs merchants must pay to bring goods to market AND lower consumers’ ______ ______ – effort required to find suitable products.
market entry costs; search costs
_______ ______ help disparate computer systems easily communicate with one another
E-commerce is different because of _______ which is the complexity and content of a message (video, audio, and text)
E-commerce is different because of _______ which is e-commerce can provide two way communication between merchant and consumer
E-commerce is different because of _______ ______ which is the total amount and quality of information available to all market participants
Information density’s effect on consumers has greater _____ ______ which is the ease of finding out the cost of an item, as well as greater _____ _______ which is the ability to find out the actual cost to the merchants
price transparency; cost transparency
Interactivity helps consumers engage in dialog that dynamically adjusts _______ to the _______. The consumer becomes __-______ in process of _______ goods to the market
Information density’s effect on merchants enable merchants to engage in _____ _______ which is selling the same goods to different targeted groups at different prices
E-commerce is different because of ________ which is the ability to target marketing messages to specific individuals by adjusting the message to a person’s name, interests, and past purchases and ________ which is modification of a good or service based on a user’s preference
E-commerce is different because of _____ _______ which allows users to create and share content in the form of text, videos, music, photos…
the effect social technology has is a creation of a new “_____-__-______” model of mass communications
What are four things digital markets reduce and the things digital market enable?
REDUCE: information asymmetry, search costs, transaction costs, menu costs
ENABLE: price discrimination, dynamic pricing, disintermediation
removing layers of intermediary layers ______ the cost to the consumer
Goods that can be delivered over a digital network (music, video, software, newspapers, books
With digital goods, the cost of producing the first unit is almost the _____ cost of product: marginal cost of producing 2nd unit is about _____ and then the cost of delivery over the internet is very ____ but marketing costs ____ ___ ____
entire, zero, low; stay the same
Government-to-Government (G2G) are all based on _______ and Mobile commerce (m-commerce) is based on _______ used by _______
participants; platform; participants
What does B2C, C2C, and B2B stand for?
_____ businesses sell their products or services directly to consumers over the Internet, may involve disintermediation
_____ Involves electronic transactions among businesses; businesses buying from and selling to each other over the Internet – facilitates information sharing
_____ Involves business transactions between users; offer goods and services to assist consumers interacting with each other over the Internet
What are two common B2C e-commerce models?
E-shop and E-mall
_____ is the fastest growing segment of e-commerce
B2B transactions tend to be more ______ and have high ______ _____ but they lower _______ costs and improves _______ by eliminating many labor-intensive tasks
complex; security needs; production; accuracy
An example of a C2C online classified ad would be _______ and an online auction sites would be _______
______: consists of a number of e-shops; serves as a gateway (portal) through which a consumer can access multiple e-shops
______: an on-line version of a retail store
C2C online auction sites use a pricing model called ______ ______ where sellers use the site as a selling channel to many buyers and highest bid wins
More traditional B2C models utilize ______-______ pricing where company sets the price thta consumers pay but now companies like Priceline.com, which are B2C relationships, utilize ______- pricing where the consumer specifies the price he/she is willing to pay, the company can accept or reject it
What are three things B2B reduces?
1. delivery time
2. inventory levels
B2B uses _______ ____ _______(____) which is where computer-to-computer exchange of standard transactions such as invoices and/or purchase orders
electronic data interchange (EDI)
Major industries have EDI standards that define ______ and ______ fields of electronic documents for that industry – they automate transaction for B2B e-commerce and continuous inventory.
However, more companies increasingly moving away from private networks to the Internet for ______ to ______ _____
linking; other firms
______ ______ ______ (______ ______) are large firm using extranet to link to its suppliers, distributors, and other key business partners. They support Product design and development, Marketing, Production scheduling and inventory management, unstructured communication (graphics and e-mail)
private industrial networks (private exchanges)
In private industrial networks firms may post _____ and _____ _____ to bid on announced products or requests for quotation (RFQs).
needs; invite sellers
Intranets, Extranets, Virtual private networks (VPNs), Electronic data interchange (EDI), Private industrial networks (private exchanges), Net marketplaces & Exchanges are all utilized by _____
Private industrial networks us a pricing model called ______ ______ where vendors provide quotes (bid) to firm on price they will sell for – buyer selects the vendor with the lowest bid or quote
___ _______ or ___ ____ _______ are single digital market for many buyers and sellers. They are industry-owned or owned by independent intermediary and generate revenue from transaction fees, other services
net marketplaces (e-hibs) or 3rd party exchanges
involves the use of Internet technologies to transform government(s) by improving the delivery of services and enhancing the quality of interaction between the citizen-consumer and the various branches of
Net marketplaces or 3rd part exchanges use prices established through _______, _______, _____, or ______ prices
negotiation, auction, RFQs; fixed
What are the three categories of e-government models?
G2C have government service provided on-line to citizens/customers as well as consumer initiated transactions with government…give one example of each of these services.
Gov to citizens/sustomers: Renew driver’s licenses, passports, visas, Medicare Medicaid benefits, social security, food stamps, public service announcements
Consumer to gov: Elections/voting, census/demographic information, file/pay taxes
Net marketplaces or 3rd party exchanges are a good ______ marketplaces for specific industries and good ______ marketplaces for goods and services that are used across a variety of industries.
G2B have governemtn service to businesses and business initiated transactions to government… give one example of each of these services.
Gov to business: Information about regulations, licenses; import/export/tariff information; forms
Business to gov: Filing information with SEC/EEO/IRS, paying taxes/fees
What are four information topics exchanged using G2G?
1. Local: health department, traffic, crime
2. State: state budget information, education, Medicaid programs, statewide criminal records, transportation
3. National: Medicare programs, Social Security, transportation, national crime records, disaster assistance
4. International: international trade agreements, treaties, immigration information, international arms and terrorist information
The use of wireless mobile devices for purchasing goods and services
What are four types of e-commerce?
1. Location-based service
2. Banking and financial service
3. Wireless advertising
4. Games and entertainment
____ _______ are online marketplaces where multiple buyers can purchase from multiple sellers
Receive a referral fee or % of the sale/revenue when they refer a visitor to another site
Offer basic services or content for free, but charge a premium for advanced or special features
Create a digital environment where buyers and sellers can meet, display products, search for products, and establish prices
Provides an on-line meeting place where people with similar interests can communicate and find useful information
The company receives a fee for executing a transaction (aka brokerage)
Earn income by selling goods and services
An extension of traditional advertising media but on the web (ie: banner ads, pop-up ads, pop-under ads, spot leasing, viral marketing)
Processes on-line sales transactions in return for a fee
Charge a subscription fee for access to material or charge for a “membership”
Provides initial entry point to the web along with specialized content and other services
Provides digital content such as news, music, other types of intellectual property
Sells services (not tangible products) on-line
On-line retail store, sells products
What is the most popular Web 2.0 service?
What sites swap shopping ideas with friends? (Kaboodle, ThisNext)
Social shopping sites
What service do corporations set up their own profiles to interact with customers, market their products/services and gather feedback?
Social networking sites
On-line communities are ideal venues to employ _____ _______ techniques
Social networking sites sell _____ ads, ____ ________ information, and music, videos and e-books
banner; user preference
Based on concept that large numbers of people can make better decisions about topics and products than a single person
wisdom of crowds
Peer-to-peer betting markets on specific outcomes (elections, sales figures, designs for new products) – customer places bets or votes for or against specific outcomes
Organized web sites where individuals can ask for direct financial contributions from family, friends, and others to help fund some type of venture
Where firms offer incentives to customers for solving a problem or coming up with an idea
Crowd funding is a way for individuals to _____ their money through the internet to support other’s artistic, education, and business efforts as well as ______ and ______ _____
charities; disaster relief
What are four models of crowd-funding
What are two ways the internet provides marketers with new ways of identifying and communicating with customers
1. Long tail marketing
2. Behavioral targeting
E-commerce marketing advertising formats include search engine ______, ______ ads, ____ _____, and _____
marketing, display, rich media, and e-mail
Web Site ______ ______ is where e-commerce web sites have to to track a shopper’s every step through an online store.
Tracking online behavior of individuals on thousands of Web sites
Two examples of behavioral targeting are…
1. Clickstream data
Ability to reach a large audience inexpensively
Long tail marketing
use of search engines to deliver sponsored links (for which advertisers have paid) in search engine results
Search Engine Marketing
The process of changing a site’s content, layout and format in order to increase the ranking of the site on popular search engines and to generate more site visitors
Search Engine Optimization
Part of search engine optimization is _______ which is using a variety of deceptive techniques in an attempt to manipulate search engine rankings
Method for improving the volume or quality of traffic to a web site; improving the ranking of a web site in search engine listings
Search Engine Optimization
What are three recommendations for optimizing a web site? These recommendations are for editing a site’s contents and HTML code to increase its _______ to specific _______
keywords, page title, and inbound links
______ e-commerce is based on a mapping of all significant online relationships called _______ ______ ______
social; digital social graph
______ ______ is the fastest growing media for branding and marketing
An effort to provide fewer, more relevant, and trustworthy search results based on a person’s network of social contacts
Social Network Marketing & Social Search
Social Network Marketing & Social Search is an environment where consumers ____ their ______ for ______ on purchases of products, service, and content. It seeks to leverage individuals ______ over others in their digital social graph
ask; friends; advice
What is the target for social network marketing and social search?
Target is a social network of people sharing interests and advice
Money or script that is exchanged electronically
An Internet-based company that facilitates payments over the Internet
Provide content providers with a cost-effective method for processing high volumes of very small monetary transactions
Better relationships with suppliers, customers, business partners
Price transparency – all can trade at same price
Round the clock 24/7/365
More information on potential customers
Increasing customer involvement/feedback
Improving customer service
Increasing flexibility and ease of shopping Increasing the number of customers
Increasing opportunities for collaboration with business partners
Increasing return on investment because inventory needs are reduced
Offering personalized services and product customization
Reducing administrative and transaction costs
advantages of e-commerce
Bandwidth capacity problems
Potential Liability Issues
disadvantages/challenges of e-commerce
To build an e-commerce web site you need to assemble a team with the skills required to make decisions about what four topics?
2. Site Design
3. Social and information policies
4. Hardware, software, and telecommunications infrastructure
_______ _______ should drive the site’s technology and design
______ ______ drive the technology
What are three choices of building the web site?
1. Completely in-house
2. Mixed responsibility
3. Completely outsourced
___% of budget is system _______ and _______ _______ when building an e-commerce web site
50; maintenance; content creation
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