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Questions and Answers
What percentage of e-commerce was represented by m-commerce in 2020?
What percentage of e-commerce was represented by m-commerce in 2020?
Location-based services can provide users with personalized promotions based on their location.
Location-based services can provide users with personalized promotions based on their location.
True
Name one popular digital wallet used for mobile payments.
Name one popular digital wallet used for mobile payments.
Apple Pay
Many social media platforms have incorporated shopping features, which is known as __________.
Many social media platforms have incorporated shopping features, which is known as __________.
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Match the mobile payment methods with their examples:
Match the mobile payment methods with their examples:
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Which of the following is the fastest growing form of e-commerce?
Which of the following is the fastest growing form of e-commerce?
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74% of smartphone owners utilize location-based services.
74% of smartphone owners utilize location-based services.
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What is a main area of growth in m-commerce?
What is a main area of growth in m-commerce?
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What does the term B2C stand for?
What does the term B2C stand for?
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Consumer-to-Consumer (C2C) e-commerce involves businesses selling products to consumers.
Consumer-to-Consumer (C2C) e-commerce involves businesses selling products to consumers.
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List one revenue model used in e-commerce.
List one revenue model used in e-commerce.
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The e-commerce model where products and services are sold directly to consumers is known as __________.
The e-commerce model where products and services are sold directly to consumers is known as __________.
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Which of the following is a feature of social e-commerce?
Which of the following is a feature of social e-commerce?
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What was the estimated value of B2B e-commerce in 2020?
What was the estimated value of B2B e-commerce in 2020?
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Match the following e-commerce models with their descriptions:
Match the following e-commerce models with their descriptions:
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Behavioral targeting involves tracking the online behavior of individuals.
Behavioral targeting involves tracking the online behavior of individuals.
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Electronic Data Interchange (EDI) is limited to the exchange of invoices only.
Electronic Data Interchange (EDI) is limited to the exchange of invoices only.
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What is the main purpose of private industrial networks in B2B transactions?
What is the main purpose of private industrial networks in B2B transactions?
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What is the estimated value of U.S. B2B trade in 2020?
What is the estimated value of U.S. B2B trade in 2020?
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______ refers to the buying and selling of goods and services through mobile devices.
______ refers to the buying and selling of goods and services through mobile devices.
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Match the following B2B market structures with their descriptions:
Match the following B2B market structures with their descriptions:
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Which of the following is NOT a benefit of moving toward web-enabled private networks?
Which of the following is NOT a benefit of moving toward web-enabled private networks?
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Horizontal marketplaces focus on a single type of product.
Horizontal marketplaces focus on a single type of product.
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Name one key participant in a healthcare private industrial network.
Name one key participant in a healthcare private industrial network.
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Which of the following is NOT a principal e-commerce business model?
Which of the following is NOT a principal e-commerce business model?
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E-commerce has completely eliminated transaction costs.
E-commerce has completely eliminated transaction costs.
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What is meant by disintermediation in e-commerce?
What is meant by disintermediation in e-commerce?
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Digital goods are defined as goods that can be delivered over a __________ network.
Digital goods are defined as goods that can be delivered over a __________ network.
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Match the type of e-commerce with its description:
Match the type of e-commerce with its description:
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Which of the following is a feature of digital markets that differs from traditional markets?
Which of the following is a feature of digital markets that differs from traditional markets?
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Mobile commerce (m-commerce) refers to e-commerce activities conducted via mobile devices.
Mobile commerce (m-commerce) refers to e-commerce activities conducted via mobile devices.
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Name one major trend in e-commerce related to technology.
Name one major trend in e-commerce related to technology.
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The cost of producing the first unit of a digital good is almost the entire cost of the __________.
The cost of producing the first unit of a digital good is almost the entire cost of the __________.
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What is a benefit of using e-commerce for business transactions?
What is a benefit of using e-commerce for business transactions?
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Study Notes
ICT in Business - Lecture 7
- E-commerce involves using the internet and web for business transactions
- E-commerce started in 1995 experiencing exponential growth; it remained stable even during a recession.
- Companies that survived the dot-com era continue thriving today.
- The new e-commerce model focuses on social, mobile, and local trends.
- E-commerce is shifting from desktops to smartphones.
Learning Objectives
- Understand the unique features of e-commerce, digital markets, and digital goods.
- Identify the primary e-commerce business and revenue models.
- Analyze the impact of e-commerce on marketing strategies.
- Assess the effect of e-commerce on business-to-business transactions.
- Evaluate the role of mobile commerce and its applications in business.
- Determine the challenges when establishing an e-commerce presence.
E-commerce Comes to the Dashboard: The Battle for the "Fourth Screen"
- Problem: E-commerce's evolving adaptation to new technologies.
-
Solutions:
- Design adaptable business models and revenue streams.
- Partner with software providers.
- Implement data privacy measures.
- Create user-friendly interfaces designed for dashboards and displays.
- Leverage customer and vehicle databases.
- Integrate with automotive technologies like Android Auto and Apple CarPlay.
- Trends: E-commerce moving into automobiles, offering information and services, and employing advanced data mining along with location-based advertising.
- Competition: Big tech firms competing with major auto brands.
E-commerce Today
- Online business transactions.
- Continued growth, even through recessions.
- Companies surviving the dot-com bubble persisting.
- Modern e-commerce encompassing social, mobile, and local platforms.
The Growth of E-commerce
- Strong, sustained B2C e-commerce revenue growth.
- Chart showing B2C (business-to-consumer) revenue growth between 1985 and 2022.
Why E-commerce is Different
- Ubiquity: Virtual marketplaces, reduced transaction costs
- Global Reach: Cross-cultural and national transactions
- Universal Standards: Internet standards, one set of technology standards
- Richness: Supports video, audio, and text
- Interactivity: Greater price and cost transparency, enabling price discrimination
- Information Density: Increased price and cost transparency, empowering pricing adjustments
- Personalization/Customization: Tailored communication and product modification
- Social Technology: User-generated content and social interactions
Key Concepts in E-commerce - Digital Markets and Digital Goods in a Global Marketplace
- Internet and digital markets transforming business practices.
- Reduced information asymmetry.
- Reduced menu, search, and transaction costs.
- Enablement of dynamic pricing strategies.
- Impacts on switching costs.
- Delayed gratification
- Disintermediation (removal of intermediaries in the sales process)
Digital Markets vs. Traditional Markets
- Comparison of key market factors (information asymmetry, search costs, transaction costs, delayed gratification, menu costs, dynamic pricing, price discrimination, and disintermediation are highlighted as major differentiators between the modern and traditional markets).
The Benefits of Disintermediation to the Consumer
- Illustrative diagram showcasing consumer cost reductions through the elimination of intermediate sale participants.
Digital Goods
- Deliverable over digital networks.
- Production costs (initial creation) highly concentrated.
- Near zero delivery costs (low transfer costs).
- Marketing costs remain relatively consistent.
- Pricing variability is high in digital product markets.
- Industries featuring digital goods experiencing significant transformation.
Types of E-commerce
- Three main categories:
- Business-to-consumer (B2C)
- Example: Amazon.com
- Business-to-business (B2B)
- Example: Elemica
- Consumer-to-consumer (C2C)
- Example: eBay
- Business-to-consumer (B2C)
- Platform classification: Mobile commerce (m-commerce)
Business-to-Business (B2B) E-commerce
- B2B e-commerce encompassing various business activities across supply chains.
- This model encompasses the processes of efficient procurement, logistics, inventory control, transaction facilitation, payments, and the smooth distribution of goods.
Business-to-Consumer (B2C) E-commerce
- B2C e-commerce encompassing business-consumer transactions, where companies sell products or services directly to consumers.
Consumer-to-Consumer (C2C) E-commerce
- A significant type of trade relationship involving online transactions between consumers.
E-commerce Business Models
- Types of business models utilized in e-commerce.
E-commerce Revenue Models
- Primary types of revenue streams for e-commerce operations.
How Has E-commerce Transformed Marketing?
- Internet facilitating better communication with consumers.
- Long-tail marketing strategies gaining traction.
- Different formats of marketing and advertising, integrating search, display ads, video, rich media, and email.
- Behavioral targeting methodology tracking consumer behavior online.
- Programmatic advertising methodology.
- Native advertising methodology.
Website Visitor Tracking
- Illustrative example showing how websites track user interactions.
Website Personalization
- Customer profiles and e-commerce customization examples
- Personalized recommendations and bid offers based on customer interaction data.
How an Advertising Network Works
- Graphic illustrates the function of an advertising network.
Social E-commerce and Social Network Marketing
- Social media's importance in branding and marketing.
- E-commerce utilizing digital social graphs.
How Has E-commerce Affected Business-to-Business Transactions?
- Significant growth in U.S. B2B e-commerce in 2020 ($6.7 trillion estimated).
- Internet and networking support automation and procurement efficiency.
Electronic Data Interchange (EDI)
- Computer-to-computer exchange of standard business documents.
- Major industries utilize EDI standards.
- EDI structure and information field definitions.
- Shifting towards web-enabled private networks for broader firm connections
- Enhanced information sharing and business processes
New Ways of B2B Buying and Selling
- Private Industrial Networks
- Net Marketplaces (e-hubs)
- Exchanges
A Private Industrial Network\
- Network diagrams of firm interaction patterns.
A Private Industrial Network Example: Healthcare Provider Network
- Illustrative examples of how private industrial networks function within the healthcare industry.
A Net Marketplace
- Diagram of Net Marketplace firm interaction patterns
A Net Marketplace Example: Amazon
- Illustrative example of a net marketplace illustrating Amazon's model.
M-commerce in Business
- Mobile commerce encompassing buying/selling transactions conducted via mobile devices (smartphones/tablets).
- Usage of websites/apps for enhanced consumer experiences.
What is the Role of M-commerce in Business, and What are the Most Important M-commerce Applications?
- Significant growth for m-commerce in 2020.
- High growth rates, exceeding 20%.
- Focus areas: Retail, digital content sales, and in-app sales for mobile devices.
Mobile Retail Commerce Revenues
- Graphical representation illustrating the revenues connected with mobile retail commerce between 2016 and 2022.
Location-Based Services and Applications
- Utilization by smartphone users (74%).
- Utilizing GPS map services.
- Geosocial services, including location of friends and shops near by.
- Geo advertising.
- Geo information services, relating to localized pricing.
Other Mobile Commerce Services
- Financial apps used by banks, credit card companies.
- Mobile advertising's prominence with significant markets for Google and Facebook.
- Advertisement integration within video games, mobile software apps, & websites.
- M-commerce website adoption by most major retailers.
Mobile App Payment Systems
- Three types of mobile app payment systems (NFC, QR Codes, and P2P).
What Issues Must Be Addressed When Building an E-commerce Presence?
- Management challenges, including establishing business objectives, and technology selection.
- Presence map development considering websites, emails, social media, and offline media.
- Developing a project timeline with milestones to break down the process into concrete phases.
E-commerce Presence Map
- Schematic representation of the e-commerce presence map.
Midterm Exam Arrangement
- Exam details, including date, time, venue, and tutorial information.
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Description
Explore the evolution and unique features of e-commerce in this insightful lecture. Understand the primary business models, the impact of digital markets, and the role of mobile commerce in modern business strategies. This quiz will challenge you to assess the future trends and challenges of establishing an e-commerce presence.
