Adms 2511
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55 terms
Terms | Definitions |
|---|---|
 Electronic Commerce | Process of buying,selling,transfering or exchanging information to customers and organization via computer networks including the internet. |
| E-business | Broader concept, it allows to serve customers, enables business colaboration with partners and performing electronic business transactions within an organization |
| Degree of Digitization | extent to physical to digital. (products, process and delivery agent.) |
| 3 dimensions of e-commerce | Brick and mortar organizations Virtual organizations Click and mortal organizations |
| Brick mortar organizations | use purely physical organization, physical store, physical communication and transaction with customers. |
| Virtual Organizations | companies that use purely e-commerce transaction and activities. |
| Click and mortar organizations | Use partial e-commerce. use e-commerce activities but they also have some of their activities done physically. ex.Wal-mart |
| 6 Types of E-commerce | B2B - business 2 business B2C - business to consumers C2C - consumer to consumers B2E - Business to employee G2B - Government to public M-commerce - mobile conducted business |
| 7 Types of E-commerce business model | Online direct marketplace Viral marketing Affiliate marketing Online auctions Membership Name your price find the best price |
| Online direct Marketplace | manufacturers or retailers directly sell to customers |
| Viral Marketing | Word of mouth, Retailers send information about your product to friends. |
| Affiliate marketing | Vendors ask to post advertisements their partners websites. |
| Online Auctions | Organizations and companies set up this type of e-commerce business model to increase revenue by having a broader market and shortening the period of auction |
| Reverse Auction | organizations put up a request for quotation on their website or third party website about their need of service or product. Suppliers then analyze the RFQ and bid for it. Whoever bids the lowest price will win. |
| Forward auction | place items or services for auction and whoever has the highest bid will win the item. |
| Membership | only members can use the service provided |
| Name your price | Customers decide how much they want to pay |
| Find the best price | Ex. hotwire.com customers sprecify a need an intermediary compares providers and shows lowest price. Customer must decide whether to purchase it or not, because the deal only lasts for a short time |
| 5 Major E-commerce Mechanisms | -ways for business and sellers to buy or sell on the internet. 1. Catalogue 2. Electronic Auctions 3. Storefront 4. E-malls 5. E-marketplaces. |
| Catalogue | before it was printed, now its on Cd or the internet. it consists of product database, directory, search capabilities, presentation function. It is the backbone of e-commerce sites. |
| Electronic Auctions | Organizations and companies set up this type of e-commerce business model to increase revenue by having a broader market and shortening the period of auction |
| E-storefront | represents a single store. Ex. Wal-mart or Staples. |
| E-malls | Collection of individual stores under in one internet address. |
| E-marketplaces | A central, virtual marketplace for (B2B) where by many buyers and sellers can conduct electronic commerce and electronic business activities. enable an enterprise to create an e-relationship with distributors, wholesalers, customers and other partners. |
| benefits of e-commerce to organizations | makes national and international markets more accessible. lowering costs of processing, distributing, and retrieving information. |
| Benefit of society | ability to access a vast number of products and services around clock. |
| 5 Limitation of E-commerce | slowed in growth and acceptance lack of universally accepted security standards expensive accessibility perception that EC is insecure lacks a critical mass of sellers and buyers. |
| 3 reasons why e-momerce took off | improved richness improved reach reduced information asymmetry. |
| Business to consumer | more complex, involves a large number of buyer making millions of diverse transactions per day with a relatively small number of sellers. |
| Electronic Retailing (e-tailing) | direct sales of products and services through storefront and e-mall usually designed around the catalogue. |
| electronic storefront | represent only one individual store |
| electronic malls | collection of individual stores under a single internet address. |
| Online service industries | Cyberbanking online service trading The online job market Travel services |
| Cyberbanking | involves conducting banking transaction without physically going to the bank location. Could be done anywhere. |
| Online service trading | online buying or selling of bonds and stock and other financial instruments |
| The online job market | thousands of companies and government agencies advertise available positions, accept resumes, and take application via internet. |
| Issue of E-commerce | Disintermediation: when functions of intermediaries are automated or eliminated |
| 2 functions of intermediaries | intermediaries are middlemen who provide information and/or value added services. |
| Issues in E-tailing | Channel conflict - regular distributors sell directly to consumers online, can alienate the distributors. Order fulfilment - when company sell directly to customers, there is a lot of work in it. must quickly find, pack,shipped arrange for package to be delivered. IT TAKES A LOT OF WORK INVOLVED |
| Multichanneling | process in which a company integrates its offline and online channels. |
| 4 advantages of online advertising | - internet advertising makes it more media rich, dynamic and interactive - Can reach very large number of potential buyers all over the world - Can be updated to keep current with minimal costs - Interactive and targeted to specific interest groups or individuals. |
| 6 Advertising Methods | Banners Pop up ads Pop under ads Spamming Viral marketing |
| B2B | 85% of EC volume creates an electronic relationship with distributors, resellers, suppliers, customers, and other partners. |
| 3 B2B models | 1. Sell side marketplaces 2. Buy side marketplace 3. Electronic exchanges |
| Sell side marketplace | organization attempt to sell their product and services to other organizations electronically from their own private e-marketplace or third party (ex. ebay) |
| Buy side marketplace | it is just like reverse auctions. So organizations post up their need of products and services. they submit their RFQ to the marketplace and sellers will bid for it. whoever has the lowest bid will be the one supplying for that organization. |
| Electronic exchanges | Private exchange - have one buyer and many sellers, open to all organizations. |
| Vertical exchanges | connects buyer and sellers in a given industry. |
| Horizontal exchanges | connect buyers and sellers across many industries and are used mainly for MRO (maintenance, repairs and operations) |
| Functional exchanges | services such as temporary help or extra office space are traded on as a "need basis" |
| 4 electronic payments | Electronic Cheques Electronic credit and debit cards Purchasing cards Electronic cash |
| purchasing cards | are B2B equivalent of electronic credit cards which are typically used when there is unplanned purchase. |
| 4 types of Electronic Cash | Stored-value money cards Smart Cards: contain a chip, multipurpose Person-to-person payments: transfer funds without using credit cards Digital wallets: software mechanisms that provide security measures. |
| 2 basic issues of E-business | 1. Privacy: easier to store and transfer personal information 2. Job loss: Brokers and agents. |
| 4 legal issues specific to E-commerce | - Fraud on the internet - Domain names: legal issue is the competition over domain names - Cybersquatting: trademark beloning to someone else - Taxes and other fees - Copyright |
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