MIS Chapter 5 Test Answers – Flashcards
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Electronic Commerce
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The process of buying, selling, transferring or exchanging of products, services or information via computer networks, including the internet
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E-Business
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Broader definition of Electronic Commerce. Also refers to servicing customers, collaborating with business partners, and performing electronic transaction within an organization
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Business to Consumer
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the sellers are the organizations and the buyers are individuals
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Business to Business
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Both the sellers and buyers are business organizations
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Consumer to Consumer
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an individual sells products or services to other individuals
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Business to Employee
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An organization uses e-commerce internally to provide information and services to its employees.
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E-Government
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The use of Internet Technology in general and e-commerce in particular to deliver information about public services to citizens, business partners and suppliers of government entities, and those working in the public sector
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Mobile Commerce
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Electronic commerce conducted in a wireless environment
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E-Commerce Business Models
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- Online direct - Electronic Tendering System - Name your own price - Affiliate Marketing - Viral Marketing - Group Purchasing - Deep Discounters
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Online Direct Marketing
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Manufacturers or retailers sell directly to customers
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Electronic Tendering System
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Business (or governments) request quotes from suppliers; uses B2B (or G2B) with reverse auctions
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Viral Marketing
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Receivers send information about your product to their friends
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Group Purchasing
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Small buyers aggregate demand to get a large volume; then the group conducts tendering or negotiates a lower price
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Online Auctions
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Companies run auctions of various types on the internet
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Benefits of E-commerce
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- Makes national and international markets more accessible - Lowering costs of processing, distributing, and retrieving information - Access a vast number of products and services around the clock - Ability to easily and conveniently deliver information, services, and products to people in cities, rural areas, and developing countries
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Limitations of E-commerce
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- Lack of universally accepted security standards - Insufficient telecommunications bandwidth - Expensive Accessibility - Perception that EC is unsecured - Unresolved legal issues - Lacks a critical mass of sellers and buyers
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Electronic Storefront
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A website that represents a single store
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Electronic Mall
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A collection of individual shops under one Internet address
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Electronic Marketplace
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A central, virtual market space on the web where many buyers and many sellers can conducts e-commerce and e-business activities
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Electronic Retailing
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The direct sale of products and services through electronic storefronts or electronic malls, usually designed around and electronic catalog format/or auctions
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Disintermediation
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When the functions of providing information can be automated or eliminated
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Cyberbanking
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Involves conducting banking activities from home, a place of business, or on the road instead of at a physical bank location
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Online Securities Trading
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Many Canadians use computers to trade stocks, bonds, and other financial instruments
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Online Job Market
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Job seekers use the online job market to reply to employment ads, to place resumes on various job sites and social networking sites, and use to recruiting firms
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Online Travel Services
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Allow you to purchase airline tickets, reserve hotel rooms, and rent cars
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Advertising
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An attempt to disseminate information in order to influence a buyer-seller transaction
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Internet Advertising
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Redefines the advertising process, making it media-rich, dynamic, and interactive
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Permission marketing
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Asks consumers to give their permission to voluntarily accept online advertising and e-mail
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Performance-based Advertising
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Occurs when the advertising company pays only for measurable results
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Impression-based Advertising
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Occurs when a company purchases a set amount of impressions
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Channel Conflict
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Occurs when clicks-and-mortar companies may face a conflict with their regular distributors when they sell directly to customers online
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Multichanneling
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A process many companies use to integrate their online and offline channels
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Order Fulfillment
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Involves finding the product to be shipped; packaging the product; arrange for speedy delivery to the customer; and handle the return of unwanted or defective products
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Public Exchanges
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- Vertical Exchanges - Horizontal Exchanges - Functional Exchanges
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Electronic Payments
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- Electronic checks - Electronic Credit Cards - Purchasing Cards - Electronic Cash - Digital wallets
