E-commerce: Digital Markets and Digital Goods

These flashcards cover key vocabulary and concepts related to e-commerce, digital markets, and digital goods as discussed in the lecture.

E-commerce

Use of the Internet and web to transact business; digitally enabled transactions.

Digital Goods

Goods that can be delivered over a digital network, such as music, video, software, and e-books.

B2C (Business-to-Consumer)

E-commerce model where businesses sell directly to consumers.

B2B (Business-to-Business)

E-commerce model involving transactions between businesses.

C2C (Consumer-to-Consumer)

E-commerce model where consumers sell directly to other consumers.

M-commerce (Mobile Commerce)

E-commerce conducted through mobile devices.

Disintermediation

Elimination of intermediaries in a supply chain, enabling direct sales from producers to consumers.

Long Tail Marketing

Ability to reach a large audience inexpensively, targeting niche markets.

Customization

Modification of goods or messages to fit the preferences of individual consumers.

Social E-commerce

Commerce that leverages social networks to facilitate purchasing and influence buying decisions.

Affiliate Revenue Model

A model where websites earn commissions by sending visitors to other websites.

Behavioral Targeting

Tracking online behavior to customize marketing efforts for users.

Information Density

The total amount and quality of information available to market participants.

Marketplace

A digital platform for trading products and services, removing traditional geographic and temporal limitations.

Universal Standards

Single set of technology standards that allow various computer systems to communicate effectively.

Virtual Marketplace

An online platform where buyers and sellers can meet and conduct transactions.

Subscription Revenue Model

A model where customers pay a recurring fee for continued access to a service or content.

Free/Freemium Model

Offering basic services for free while charging for premium features.

Transaction Fee Model

Earning revenue by taking a percentage of the sale price for each transaction processed.

Local Marketing

Marketing strategies that focus on a specific geographic area to target local customers.

Market Segmentation

The process of dividing a target audience into smaller, more defined categories based on shared needs.