4.8 E-commerce

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17 Terms

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E commerce

: buying and selling of goods and services on the Internet.

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Consumer

to (C2C): business model based on e- commerce that creates a facility that allows to trade with each other (sometimes known as customer to customer)

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E-commerce

buying and selling of goods and services on the Internet

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Business to business (B2B)

transactions conducted directly between a supplying a business and a purchasing business

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Business to consumer (B2C)

transactions conducted directly between a company and consumers who are the end-users of its products/services

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Consumer to consumer (C2C)

business model based on e-commerce that creates a facility that allows consumers to trade with each other (sometimes known as customer to customer)

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E-commerce

Buying and selling of goods and services on the Internet

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The rapid growth of e-commerce is a result of …

Global reach; ubiquity; interactivity; personalization; information richness; universal standards

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Business to business (B2B)

Transactions conducted directly between a supplying a business and a purchasing business

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Business to consumer (B2C)

Transactions conducted directly between a company and consumers who are the end-users of its products/services

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Consumer to consumer (C2C)

Business model based on e-commerce that creates a facility that allows consumers to trade with each other
(sometimes known as customer to customer)

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Global reach

Internet technology reaches across national boundaries and opens up global markets with potentially billions of consumers. Consumers now have access to product details sold by businesses beyond local/national boundaries

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Ubiquity

The access to markets and consumer access to business is available at all times and (virtually) all locations. Shopping can take place anywhere and customer convenience increased

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Interactivity

Internet allows for two-way communication between the business and the customer. The growth in the use of social media is further enhancing this

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Personalization

Marketing messages can now be targeted at individual consumers based on their previous spending habits, tastes and interests

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Information richness

Complex and detailed promotional messages can be delivered by Internet via video, audio and text messages

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Universal standards

Ease of access to Internet for both businesses and customers owing to the existence of a cheap universal internet system