Electronic Commerce, Digital Markets, and Digital Goods (lec 17)

These flashcards cover key concepts and terms related to electronic commerce, digital markets, and digital goods, extracted from lecture notes to assist in exam preparation.

E-business

Any process that a business organization conducts over a computer-mediated network.

E-commerce

Buying and selling of goods and services over public and private computer networks.

Merchant model

E-commerce model where businesses take title to the goods they sell.

Non-merchant model

E-commerce model where businesses arrange for the purchase and sale of goods without taking title to those goods.

B2C

Business-to-Consumer; sales between a supplier and a retail customer.

B2B

Business-to-Business; sales between companies.

C2C

Consumer-to-Consumer; auctions that match buyers and sellers.

Mobile E-commerce (M-commerce)

Online sales transactions using mobile devices like smartphones and tablets.

Benefits of E-commerce

Leads to greater market efficiencies, lower costs, better information access, and international reach for businesses.

Challenges of E-commerce

Factors including customer service expenses, showrooming, channel conflict, and taxation complicate e-commerce operations.

Disintermediation

The removal of intermediaries between buyers and sellers, potentially disrupting the economy.

Digital goods

Goods that can be delivered over a digital network with low delivery costs.

Long tail marketing

Strategy of targeting a large number of niche markets, mainly used by businesses dominated by a market leader.

Behavioral targeting

Tracking online behavior of individuals to customize marketing efforts.