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final exam chaper 10
Terms in this set (38)
what is ecommerce?
the use of the internet and the web hat translates business
where did ecommerce move from?
moved from a desktop smartphone
what is ubiquity when it comes to ecommerce?
marketplace is virtual
transaction costs reduced
What is the global reach?
transactions cross cultural and natural boundaries
what are the universal standards when I comes to ecommerce?
one set of technology standards, internet standards
what is the richness when it comes to ecommerce?
supports the video, audio, and text messages
what is information density?
it has a greater price and cost transparency
enables price discrimination
the business practice of selling the same good at different prices to different customers
When all parties to a transaction share the same information concerning that transaction.
a strategy whereby prices are adjusted over time to maximize a company's revenues
What is disintermediation?
is the removal of intermediaries in economics from a supply chain, or cutting out the middlemen in connection with a transaction or a series of transactions.
What is reintermediation?
Reintermediation occurs due to many issues associated with the e-commerce disintermediation model
, mostly involving issues with the direct-to-consumer model.
REINTRODUCTION OF DIGITAL AGENT
what is the digital goods?
goods that can be delivered over the digital network
costs of producing first unit is almost entire cost of product
costs of delivery over the internet is low
marketing costs remain the same, pricing highly variable
industries with digital goods undergoing revolutionary changes
What is business 2 consumer?
example is Barnes and noble
what is business 2 business?
example chem connect
What is consumer 2 consumer?
what is the business model of portal?
point of entry
super websites that have different types of services
what is e-tailer when it comes to the business model?
What is the content provider?
websites that provide content
what is transaction broker?
can aid the buyer in preparing his offer for purchase, assist the seller in deciding what price to ask, facilitate communications between buyer and seller, write the contract, and help buyer and seller to fulfill the conditions of the contract and facilitate closing.
what is the market creator?
linking buyers to sellers
what is a service provider?
example being hulu
they provide a service
what is a community provider?
health care provider
what is sales?
The process by which people in one company help match the value of the products, services, and information their company offers to the needs of targeted customers.
What is advertising?
any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor
What is a subscription?
when you buy something and pay monthly for the subscription
What is freemium?
subscriptions that provide some content for free but require a monthly subscription to take advantage of all the site has to offer
an associate; partner
what is a transaction fee?
Each time you process a credit or debit card transaction through your merchant account, you are charged an inquiry fee and a percentage of the total transaction.
What is an example of disintermediation?
amazon has intermediated bookstores
getting rid of physical agents
Electronic Data Interchange (EDI)
the computer-to-computer exchange of business documents from a retailer to a vendor and back
What is the private industrial networks?
more companies are moving towards web enabled private networks
allows them to link to a wider variety of firms than edi allows
large firms use a secure website to link suppliers and partners
what is ehubs?
uses the internet
you have a long term relationship
single digital marketplace
may focus on indirect or direct goods
what are exchanges when it comes to the market?
purchase on impulse
what is the indirect when it comes to the marketplace?
not for production
example toilet paper
maintenance repair operation
what is direct when it comes to the marketplace?
products for production
example sheet metal to build a car
what is horizontal when it comes to the marketplace?
this is applied to multiple industries
what is vertical when it comes to the marketplace?
example chem connect chemical industry
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IT MGMT- Chapter 5-Electronic Commerce:
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