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