question

use of the Internet and Web to transact business; digitally enabled transactions

answer

E-commerce

question

E-commerce builds on traditional commerce by adding the _______ that networks and the internet offer. It began in _____ and grew exponentially' still growing even in a recession.

answer

flexibility; 1995

question

Business types of commerce include...

answer

1. Bricks-and-mortar business 2. Clicks-and-mortar business (clicks-and-bricks) 3. Pure-play business (also called .com's, clicks only, or virtual)

question

E-commerce is different because of _______ which is having Internet/Web technology available everywhere: anytime, anyplace

answer

ubiquity

question

E-commerce is different because of _______ ______ which is the technology reaches across nation boundaries, around Earth

answer

Global reach

question

Ubiquity effect is a new "________", is enhanced customer convenience and reduced shopping _____

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marketspace; costs

question

What about e-commerce that is different allows commerce enabled across cultural and national boundaries seamlessly and without modification. Marketspace includes, potentially, billions of consumers and millions of businesses worldwide

answer

Global reach

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E-commerce is different because of ________ ________ which is one set of technology standards: internet standards.

answer

universal standards

question

Universal standard lower _______ ______ ______ - costs merchants must pay to bring goods to market AND lower consumers' ______ ______ - effort required to find suitable products.

answer

market entry costs; search costs

question

_______ ______ help disparate computer systems easily communicate with one another

answer

Universal standards

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E-commerce is different because of _______ which is the complexity and content of a message (video, audio, and text)

answer

richness

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E-commerce is different because of _______ which is e-commerce can provide two way communication between merchant and consumer

answer

interactivity

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E-commerce is different because of _______ ______ which is the total amount and quality of information available to all market participants

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information density

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Information density's effect on consumers has greater _____ ______ which is the ease of finding out the cost of an item, as well as greater _____ _______ which is the ability to find out the actual cost to the merchants

answer

price transparency; cost transparency

question

Interactivity helps consumers engage in dialog that dynamically adjusts _______ to the _______. The consumer becomes __-______ in process of _______ goods to the market

answer

experience; individual co-participant; delivering

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Information density's effect on merchants enable merchants to engage in _____ _______ which is selling the same goods to different targeted groups at different prices

answer

price discrimination

question

E-commerce is different because of ________ which is the ability to target marketing messages to specific individuals by adjusting the message to a person's name, interests, and past purchases and ________ which is modification of a good or service based on a user's preference

answer

personalization; customization

question

E-commerce is different because of _____ _______ which allows users to create and share content in the form of text, videos, music, photos...

answer

social technology

question

the effect social technology has is a creation of a new "_____-__-______" model of mass communications

answer

many-to-many

question

What are four things digital markets reduce and the things digital market enable?

answer

REDUCE: information asymmetry, search costs, transaction costs, menu costs ENABLE: price discrimination, dynamic pricing, disintermediation

question

removing layers of intermediary layers ______ the cost to the consumer

answer

reduces

question

Goods that can be delivered over a digital network (music, video, software, newspapers, books

answer

digital goods

question

With digital goods, the cost of producing the first unit is almost the _____ cost of product: marginal cost of producing 2nd unit is about _____ and then the cost of delivery over the internet is very ____ but marketing costs ____ ___ ____

answer

entire, zero, low; stay the same

question

Business-to-consumer (B2C) Consumer-to-consumer (C2C) Business-to-business (B2B) Government-to-citizen (G2C) Government-to-Business (B2B) Government-to-Government (G2G) are all based on _______ and Mobile commerce (m-commerce) is based on _______ used by _______

answer

participants; platform; participants

question

What does B2C, C2C, and B2B stand for?

answer

Business-to-consumer Consumer-to-consumer Business-to-business

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_____ businesses sell their products or services directly to consumers over the Internet, may involve disintermediation

answer

B2C: business-to-consumer

question

_____ Involves electronic transactions among businesses; businesses buying from and selling to each other over the Internet - facilitates information sharing

answer

B2B: business-to-business

question

_____ Involves business transactions between users; offer goods and services to assist consumers interacting with each other over the Internet

answer

C2C: Consumer-to-consumer

question

What are two common B2C e-commerce models?

answer

E-shop and E-mall

question

_____ is the fastest growing segment of e-commerce

answer

B2B

question

B2B transactions tend to be more ______ and have high ______ _____ but they lower _______ costs and improves _______ by eliminating many labor-intensive tasks

answer

complex; security needs; production; accuracy

question

An example of a C2C online classified ad would be _______ and an online auction sites would be _______

answer

craigslist.org eBay.com

question

______: consists of a number of e-shops; serves as a gateway (portal) through which a consumer can access multiple e-shops

answer

E-Mall

question

______: an on-line version of a retail store

answer

E-shop

question

C2C online auction sites use a pricing model called ______ ______ where sellers use the site as a selling channel to many buyers and highest bid wins

answer

forward auction

question

More traditional B2C models utilize ______-______ pricing where company sets the price thta consumers pay but now companies like Priceline.com, which are B2C relationships, utilize ______- pricing where the consumer specifies the price he/she is willing to pay, the company can accept or reject it

answer

Menu-driven Reverse

question

What are three things B2B reduces?

answer

1. delivery time 2. inventory levels 3. prices

question

B2B uses _______ ____ _______(____) which is where computer-to-computer exchange of standard transactions such as invoices and/or purchase orders

answer

electronic data interchange (EDI)

question

Major industries have EDI standards that define ______ and ______ fields of electronic documents for that industry - they automate transaction for B2B e-commerce and continuous inventory. However, more companies increasingly moving away from private networks to the Internet for ______ to ______ _____

answer

structure; information linking; other firms

question

______ ______ ______ (______ ______) are large firm using extranet to link to its suppliers, distributors, and other key business partners. They support Product design and development, Marketing, Production scheduling and inventory management, unstructured communication (graphics and e-mail)

answer

private industrial networks (private exchanges)

question

In private industrial networks firms may post _____ and _____ _____ to bid on announced products or requests for quotation (RFQs).

answer

needs; invite sellers

question

Intranets, Extranets, Virtual private networks (VPNs), Electronic data interchange (EDI), Private industrial networks (private exchanges), Net marketplaces & Exchanges are all utilized by _____

answer

B2Bs

question

Private industrial networks us a pricing model called ______ ______ where vendors provide quotes (bid) to firm on price they will sell for - buyer selects the vendor with the lowest bid or quote

answer

reverse auction

question

___ _______ or ___ ____ _______ are single digital market for many buyers and sellers. They are industry-owned or owned by independent intermediary and generate revenue from transaction fees, other services

answer

net marketplaces (e-hibs) or 3rd party exchanges

question

involves the use of Internet technologies to transform government(s) by improving the delivery of services and enhancing the quality of interaction between the citizen-consumer and the various branches of

answer

E-government

question

Net marketplaces or 3rd part exchanges use prices established through _______, _______, _____, or ______ prices

answer

negotiation, auction, RFQs; fixed

question

What are the three categories of e-government models?

answer

G2C: government-to-citizen G2B: government-to-business G2G: government-to-government

question

G2C have government service provided on-line to citizens/customers as well as consumer initiated transactions with government...give one example of each of these services.

answer

Gov to citizens/sustomers: Renew driver's licenses, passports, visas, Medicare Medicaid benefits, social security, food stamps, public service announcements Consumer to gov: Elections/voting, census/demographic information, file/pay taxes

question

Net marketplaces or 3rd party exchanges are a good ______ marketplaces for specific industries and good ______ marketplaces for goods and services that are used across a variety of industries.

answer

vertical; horizontal

question

G2B have governemtn service to businesses and business initiated transactions to government... give one example of each of these services.

answer

Gov to business: Information about regulations, licenses; import/export/tariff information; forms Business to gov: Filing information with SEC/EEO/IRS, paying taxes/fees

question

What are four information topics exchanged using G2G?

answer

1. Local: health department, traffic, crime 2. State: state budget information, education, Medicaid programs, statewide criminal records, transportation 3. National: Medicare programs, Social Security, transportation, national crime records, disaster assistance 4. International: international trade agreements, treaties, immigration information, international arms and terrorist information

question

The use of wireless mobile devices for purchasing goods and services

answer

M-commerce

question

What are four types of e-commerce?

answer

1. Location-based service 2. Banking and financial service 3. Wireless advertising 4. Games and entertainment

question

____ _______ are online marketplaces where multiple buyers can purchase from multiple sellers

answer

net marketplaces

question

Receive a referral fee or % of the sale/revenue when they refer a visitor to another site

answer

affiliate

question

Offer basic services or content for free, but charge a premium for advanced or special features

answer

Free/Fremium

question

Create a digital environment where buyers and sellers can meet, display products, search for products, and establish prices

answer

Market creator

question

Provides an on-line meeting place where people with similar interests can communicate and find useful information

answer

Community provider

question

The company receives a fee for executing a transaction (aka brokerage)

answer

Transaction fee

question

Earn income by selling goods and services

answer

Sales

question

An extension of traditional advertising media but on the web (ie: banner ads, pop-up ads, pop-under ads, spot leasing, viral marketing)

answer

Advertising

question

Processes on-line sales transactions in return for a fee

answer

Transaction broker

question

Charge a subscription fee for access to material or charge for a "membership"

answer

Subscription

question

Provides initial entry point to the web along with specialized content and other services

answer

Portal

question

Provides digital content such as news, music, other types of intellectual property

answer

Content provider

question

Sells services (not tangible products) on-line

answer

service provider

question

On-line retail store, sells products

answer

E-tailer

question

What is the most popular Web 2.0 service?

answer

social networking

question

What sites swap shopping ideas with friends? (Kaboodle, ThisNext)

answer

Social shopping sites

question

What service do corporations set up their own profiles to interact with customers, market their products/services and gather feedback?

answer

Social networking sites

question

On-line communities are ideal venues to employ _____ _______ techniques

answer

viral marketing

question

Social networking sites sell _____ ads, ____ ________ information, and music, videos and e-books

answer

banner; user preference

question

Based on concept that large numbers of people can make better decisions about topics and products than a single person

answer

wisdom of crowds

question

Peer-to-peer betting markets on specific outcomes (elections, sales figures, designs for new products) - customer places bets or votes for or against specific outcomes

answer

Prediction markets

question

Organized web sites where individuals can ask for direct financial contributions from family, friends, and others to help fund some type of venture

answer

Crowd-funding

question

Where firms offer incentives to customers for solving a problem or coming up with an idea

answer

crowdsourcing

question

Crowd funding is a way for individuals to _____ their money through the internet to support other's artistic, education, and business efforts as well as ______ and ______ _____

answer

pool; charities; disaster relief

question

What are four models of crowd-funding

answer

1. Equity-based 2. Lending-based 3. Reward-based 4. Donation-based

question

What are two ways the internet provides marketers with new ways of identifying and communicating with customers

answer

1. Long tail marketing 2. Behavioral targeting

question

E-commerce marketing advertising formats include search engine ______, ______ ads, ____ _____, and _____

answer

marketing, display, rich media, and e-mail

question

Web Site ______ ______ is where e-commerce web sites have to to track a shopper's every step through an online store.

answer

Visitor tracking

question

Tracking online behavior of individuals on thousands of Web sites

answer

Behavioral Targeting

question

Two examples of behavioral targeting are...

answer

1. Clickstream data 2. Personalization

question

Ability to reach a large audience inexpensively

answer

Long tail marketing

question

use of search engines to deliver sponsored links (for which advertisers have paid) in search engine results

answer

Search Engine Marketing

question

The process of changing a site's content, layout and format in order to increase the ranking of the site on popular search engines and to generate more site visitors

answer

Search Engine Optimization

question

Part of search engine optimization is _______ which is using a variety of deceptive techniques in an attempt to manipulate search engine rankings

answer

spamdexing

question

Method for improving the volume or quality of traffic to a web site; improving the ranking of a web site in search engine listings

answer

Search Engine Optimization

question

What are three recommendations for optimizing a web site? These recommendations are for editing a site's contents and HTML code to increase its _______ to specific _______

answer

keywords, page title, and inbound links relevance; keywords

question

______ e-commerce is based on a mapping of all significant online relationships called _______ ______ ______

answer

social; digital social graph

question

______ ______ is the fastest growing media for branding and marketing

answer

social media

question

An effort to provide fewer, more relevant, and trustworthy search results based on a person's network of social contacts

answer

Social Network Marketing & Social Search

question

Social Network Marketing & Social Search is an environment where consumers ____ their ______ for ______ on purchases of products, service, and content. It seeks to leverage individuals ______ over others in their digital social graph

answer

ask; friends; advice influence

question

What is the target for social network marketing and social search?

answer

Target is a social network of people sharing interests and advice

question

Money or script that is exchanged electronically

answer

Electronic payment

question

An Internet-based company that facilitates payments over the Internet

answer

Financial Cybermediary

question

Provide content providers with a cost-effective method for processing high volumes of very small monetary transactions

answer

Micropayments

question

Decreased costs Better relationships with suppliers, customers, business partners Price transparency - all can trade at same price Round the clock 24/7/365 Global operations More information on potential customers Increasing customer involvement/feedback Improving customer service Increasing flexibility and ease of shopping Increasing the number of customers Increasing opportunities for collaboration with business partners Increasing return on investment because inventory needs are reduced Offering personalized services and product customization Reducing administrative and transaction costs are all...

answer

advantages of e-commerce

question

Bandwidth capacity problems Accessibility Acceptance Security issues Potential Liability Issues Taxation rules are all...

answer

disadvantages/challenges of e-commerce

question

To build an e-commerce web site you need to assemble a team with the skills required to make decisions about what four topics?

answer

1. Technology 2. Site Design 3. Social and information policies 4. Hardware, software, and telecommunications infrastructure

question

_______ _______ should drive the site's technology and design

answer

Customer's demands

question

______ ______ drive the technology

answer

business decisions

question

What are three choices of building the web site?

answer

1. Completely in-house 2. Mixed responsibility 3. Completely outsourced

question

___% of budget is system _______ and _______ _______ when building an e-commerce web site

answer

50; maintenance; content creation

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