E-Commerce Fundamentals and Models
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57 Terms
Electronic Commerce
where business transactions occur via telecommunications networks, especially the Internet
e-wallet
Electronic Payment Systems include credit cards e-check* and _____
wireless
The increasing use of mobile devices reflects a trend towards a ____Internet.
business-to-consumer (B2C)
Question 7
The major categories of e-commerce include business-to-business (B2B) and ____-
e-commerce
It consist of buying and selling goods and services over an electronic systems Such as the internet and other computer networks.
e-commerce
It is the purchasing, selling and exchanging goods and services over computer networks (internet) through which transaction or terms of sale are performed Electronically.
Marketplace
The Benefits of Electronic Commerce
.Expands the ____ to national and international markets
Cost
The Benefits of Electronic Commerce
Decreases the ____of creating, processing, distributing, storing and retrieving paper-based informatio
value-added networks (VANs)
The Benefits of Electronic Commerce
Lowers telecommunications cost - the Internet is much cheaper than _______________
Inventory Management
The Benefits of Electronic Commerce
Reduces inventories and overhead through “pull” type supply chain management.
pull type processing
The Benefits of Electronic Commerce
Allows for product and service customization, providing a competitive advantage.
Value Chain Analysis
A process to analyze an organization’s activities to determine where value is added and what costs are incurred.
Inbound Logistics
Movement of materials from suppliers to production/storage.
Operations
Processing raw materials into finished goods/services.
Outbound Logistics
Moving and storing products from production to end users.
Marketing and Sales
Identifying customer needs and generating sales.
Service
Supporting customers after the sale.
Business-to-Business (B2B)
Largest form of e-commerce.
This model defines that Buyer and seller are two different entities
It is similar to manufacturer issuing goods to the retailer or wholesaler.
Involves electronic transactions between businesses (e.g., Dell purchasing components from suppliers).
Business-to-Consumer (B2C)
Direct trade between businesses and consumers.
Example: Selling products directly to consumers through a website.
Business-to-Consumer (B2C)
It is the model taking businesses and consumers interaction. The basic concept of this model is to sell the product online to the consumers
Consumer-to-Consumer (C2C)
Individuals buying and selling to each other, often through platforms like eBay.
Involves online payment systems like PayPal.
PayPal
where people can send and receive money online with ease.
Consumer-to-Business (C2B)
It involves people selling products or services to businesses, such as a service for creating online surveys for a company to use
Merchant
Types of E-Commerce Business Models:
It transfer the old retail model to the e-commerce would by using the medium of the Internet
Brokerage
Types of E-Commerce Business Models:
It brings sellers and buyers together on the Web and collects commissions on transactions between these parties.
Advertising
Types of E-Commerce Business Models:
It is an extension of traditional advertising media such as radio and television. By creating more traffic with this free content, they can charge companies for placing banner ads or leasing spots on their sites
Mixed
Types of E-Commerce Business Models:
Generates revenue from more than one source.
Informediary
Types of E-Commerce Business Models:
Collects information on consumers and businesses, then sells this information to other companies for marketing purposes.
Subscription
Types of E-Commerce Business Models:
An e-commerce site that sells digital products or services to customers.
Business-to-Consumer
Pure-play
Brick and mortar
___ E-Commerce Companies sell directly to consumers.
Examples:
Types:
_____
_____ stores with virtual storefronts
Business-to-Business E-Commerce
Electronic data interchange (EDI)
Electronic funds transfer (EFT)
________ Involves electronic transactions between businesses.
Utilizes:
____
_____
Fastest growing segment of e-commerce.
Uses:
Purchase orders
Invoices
Inventory status
Shipping logistics
Business contracts
Other operations
Example: Walmart
Consumer-to-Consumer E-Commerce
_____ Involves business transactions between users.
Online classified ads:
Online auction sites:
Consumer-to-Business E-Commerce
___Involves people selling products or services to businesses.
Example:
Creating online surveys
Searching for sellers of products and services
Information sharing; Ordering; Payment; Fulfillment; Service and support
B2C E-Commerce Cycle Major activities:
___:
Company Web Sites
Online Catalogs
E-mail
Online Advertisement
Video Conferencing
Message Boards
Newsgroups
___:
Use electronic forms or e-mail to order products.
____:
Credit cards
E-Checks
E-wallets
____
Delivery of products or services to customers.
____
E-mail confirmation
Product updates
Online surveys
Help desks
Guaranteed secure transaction
Intranets
Extranets
Virtual private networks
Electronic data interchange (EDI)
Electronic funds transfer (EFT)
B2Bs use additional technologies extensively:
What are the five?
seller, buyer, intermediary
Three major types of B2B e-commerce models, based on who controls the marketplace
Seller-Side Marketplace
Most popular B2B model.
Sellers catering to specialized markets create a common marketplace for buyers.
E-procurement:
Enables employees to order and receive supplies and services directly from suppliers.
Can automate some buying and selling activities.
Major vendors: I2 Technologies, IBM, Oracle, and SAP.
Buyer-Side Marketplace
A buyer or a group of buyers opens an electronic marketplace.
Invites sellers to bid on announced products or requests for quotation (RFQs).
Buyers can:
Manage the procurement process more efficiently.
Lower administrative costs.
Implement uniform pricing.
Examples: Large corporations like General Electric or Boeing.
Third-Party Exchange Marketplace
Controlled by a third party.
Generates revenue from fees charged for matching buyers and sellers.
Usually active in vertical or horizontal markets.
Offers suppliers a direct channel of communication to buyers through online storefronts.
electronic payment
Money or scrip exchanged only electronically.
payment cards
Credit, debit, charge, and smart cards.
smart cards
Credit card sized with an embedded microprocessor chip storing important financial and personal information.
other types of payment
E-cash
E-check
E-wallets
PayPal
Micropayments
web marketing
Uses the Web and its supporting technologies to promote goods and services.
Terms:
Ad impression
Banner ads
Click
Cost per thousand (CPM)
Hit
Cost per click (CPC)
Click-through rate (CTR)
Cookie
Meta tag
Page view (PV)
Pop-up ads
Pop-under ads
Splash screen
Spot leasing
eBay
A common example of C2C e-commerce is ___, where individual consumers can buy and sell products.
pull type processing
The ____ allows for customization of products and services, giving a competitive advantage.
payment
The business-to-consumer e-commerce cycle involves information sharing, ordering, and ____.
businesses
In B2B e-commerce, electronic transactions happen between _____ rather than between businesses and consumers.
transactions
Mobile and voice-based e-commerce leverage mobile devices and smart speakers to facilitate _.
website
A typical e-commerce transaction starts when a consumer uses a web browser to connect to a merchant's ____.
internet
E-commerce can reduce telecommunications costs by utilizing the _________, which is usually cheaper than traditional value-added networks.
mixed
A__________ e-commerce business model generates revenue from more than one source.
intermediary
The three major types of business-to-business (B2B) e-commerce models are seller-side, buyer-side, and ______marketplaces.
e-commerce
The term 'merchant' in e-commerce refers to businesses that transfer the old retail model to the ______ world.
shopping cart
The process of purchasing online often includes adding items to a virtual ____before finalizing the order.
anywhere
E-commerce enables customers to shop 24 hours a day from ____.
web browser
In e-commerce, the process often starts with a consumer using a __________ to connect to a merchant's site.