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Questions and Answers
What is the primary medium used for Electronic Commerce (EC)?
What is the primary medium used for Electronic Commerce (EC)?
What is an example of E-Commerce?
What is an example of E-Commerce?
What is the main difference between E-Business and E-Commerce?
What is the main difference between E-Business and E-Commerce?
What is a characteristic of Click-and-Mortar organizations?
What is a characteristic of Click-and-Mortar organizations?
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What is a unique feature of E-Commerce that allows businesses to reach a global audience?
What is a unique feature of E-Commerce that allows businesses to reach a global audience?
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What is the term for organizations that conduct their business activities solely online?
What is the term for organizations that conduct their business activities solely online?
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What is an example of an E-Commerce activity that involves a company's intranet?
What is an example of an E-Commerce activity that involves a company's intranet?
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What is the primary goal of E-Business?
What is the primary goal of E-Business?
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What is one of the effects of the ubiquity of internet/web technology in e-commerce?
What is one of the effects of the ubiquity of internet/web technology in e-commerce?
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What is a result of the global reach of e-commerce?
What is a result of the global reach of e-commerce?
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What is an effect of universal standards in e-commerce?
What is an effect of universal standards in e-commerce?
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What is an advantage of the richness feature of e-commerce?
What is an advantage of the richness feature of e-commerce?
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What is a characteristic of interactivity in e-commerce?
What is a characteristic of interactivity in e-commerce?
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What is a result of increased information density in e-commerce?
What is a result of increased information density in e-commerce?
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What is a result of personalization/customization in e-commerce?
What is a result of personalization/customization in e-commerce?
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What is a characteristic of social technology in e-commerce?
What is a characteristic of social technology in e-commerce?
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Study Notes
Electronic Commerce (EC)
- EC refers to business transactions taking place via telecommunications networks, especially the Internet
- It involves buying, selling, and exchanging products, services, and information via computer networks, including the Internet
Examples of E-Commerce
- An individual purchasing a book on the Internet
- A government employee reserving a hotel room over the Internet
- A business ordering a computer using the seller's interactive telephone system
- A business buying office supplies online or through an electronic auction
- A retailer ordering merchandise using an EDI network or a supplier's extranet
- A manufacturing plant ordering electronic components from another plant within the company using the company's intranet
- An individual withdrawing funds from an automatic teller machine (ATM)
E-Business
- E-business refers to the optimization of a company's business activities using digital technology
- It includes supplier relations, customer service, and intra-business tasks
- E-business is often used interchangeably with EC
Growth of E-Commerce
- No specific notes on this topic
EC Concepts
- Brick-and-Mortar (old economy) organizations: perform primary business offline
- Click-and-Mortar (click-and-brick) organizations: conduct some e-commerce activities
- Virtual (pure-play) organizations: conduct business activities solely online
Unique Features of E-Commerce
Ubiquity
- Internet/Web technology available anywhere, anytime, 24/7, 365 days a year
- Effect: marketplace becomes a "Market Space", enhancing customer convenience and reducing shopping costs
Global Reach
- Transactions are across cultures and national boundaries
- Effect: market space includes potentially billions of consumers and millions of businesses worldwide
Universal Standards
- One set of technology standards: Internet standards
- Effect: lower market entry costs and lower consumers' search costs
Richness
- Supports video, audio, and text content and messages
- Effect: possible to deliver rich messages with text, audio, and video simultaneously to large numbers of people
Interactivity
- Technology works through interaction with the user
- Effect: consumers engaged in dialog that dynamically adjusts experience, making them co-participants in the process of delivering goods to market
Information Density
- Increases in information density: total amount and quality of information available to all market participants
- Effect: consumers have greater price transparency, enabling merchants to engage in price discrimination
Personalization/Customization
- Technology permits modification of information, goods, and services
- Effect: products and services can be customized to individual preferences
Social Technology
- Technology promotes user content generation
- No specific effect mentioned
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Description
Learn about electronic commerce, its definition, and examples of online transactions, including buying, selling, and exchanging products and services over the internet.