Evolution of E-Commerce

Flashcards covering the key concepts in the evolution of e-commerce, including its early beginnings, growth phases, and the integration of digital marketing strategies.

Electronic Data Interchange (EDI)

A system for businesses to exchange documents like purchase orders and invoices electronically, marking the early beginnings of e-commerce.

World Wide Web

Introduced in the early 1990s, making e-commerce accessible to the public from 1991 onward.

PayPal

Founded in 1998, it developed secure online payment methods that increased consumer trust in online shopping.

.COM Bubble

The early 2000s collapse of many internet businesses, with survivors paving the way for the modern e-commerce landscape.

Smartphone Revolution

The widespread adoption of smartphones leading to more convenient online shopping experiences, resulting in explosive growth in e-commerce.

Personalization in E-Commerce

A strategy where businesses use AI and big data to understand customer preferences for tailored shopping experiences.

Omnichannel Experience

Providing a seamless customer experience across multiple channels, including online, mobile, and physical stores.

Social Commerce

The integration of in-app purchasing in social media platforms, facilitating shopping through social apps.

Digital Marketing

The process of promoting products or services via digital channels to engage with customers, significantly evolving since the 1990s.

Search Engine Optimization (SEO)

Optimizing website content to rank higher in search engine results, enhancing visibility to active users.

Search Engine Marketing (SEM)

Paid advertising on search engines to drive targeted traffic to a website.

Content Marketing

Creating and distributing valuable content to engage a target audience and build relationships over time.

Email Marketing

Sending promotional messages and newsletters to foster customer loyalty and encourage repeat purchases.

Affiliate Marketing

Partnering with businesses or influencers to promote products for a commission on sales.

Business-to-Consumer (B2C)

Transactions occurring directly between a business and individual consumers, exemplified by online retail stores.

Business-to-Business (B2B)

Transactions taking place between two business entities, such as manufacturers selling to wholesalers.

Consumer-to-Consumer (C2C)

Involves consumers selling directly to other consumers, often on platforms like eBay or Etsy.

Consumer-to-Business (C2B)

Occurs when consumers offer products or services to businesses, such as freelance marketplace activities.

Digital Adaptation of the 4Ps

The evolution of the marketing mix in the digital age, including product, price, place, and promotion strategies.

User Experience

The focus on creating a seamless and intuitive experience for users in digital products and services.

Data-Driven Customization

Using customer data and feedback to continuously improve and personalize digital products and services.