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ISPP Chapter 5

Electronic Commerce

QuestionAnswer
Electronic Commerce The online exchange of goods, services and money between businesses, people and customers
7 Types of E-Commerce • Business to consumer (B2C) • Business to business (B2B) • Business to employee (B2E) • Consumer to consumer (C2C) • Government to citizen (G2C) • Government to business (G2B) • Government to government (G2G)
6 Web Capabilities • Global Information dissemination Integration • Mass customization • Interactive communication • Collaboration • Transactional support
Information Dissemination (Give 1 Example) The sharing and distribution of information on a large scale that everybody can access like the internet.
Integration (Give 1 Example) Uses web technologies to link corporate databases to provide access for personalized information such as accessing updated airline fees for plane flights.
Mass Customisation (Give 1 Example) Tailor products and services for their customers’ needs and wants such as the customization of an athletic shoe’s colours.
Interactive Communication (Give 1 Example) Provides communication between businesses can customers, such as online PC support applications from an IT servicing company.
Collaboration (Give 1 Example) Allows for different business departments to share information between each other on the web, such as accessing profit figures from the consumer electronics department
Transaction Support Conducts business transactions without human support such as purchasing a PC online.
Disintermination Having electronic commerce tends to streamline its operations and reduces the need for human intervention. More automated services can serve customers.
Reintermediation The business model where it reintroduces middlemen to reduce chaos brought it by disintermediation
3 Main Business Strategies • Brick-and-mortar (physical) • Click-only (virtual, online) • Click-and-mortar (combination)
5 Main Components of the Business Model • Revenue model • Value proposition • Competitive environment • Marketing strategy • Management team
5 Possible Revenue Models for E-Commerce Businesses (Elaborate and give example for each) • Affiliate marketing • Subscription based • Transaction fees • Traditional sales • Web advertising/hosting
Electronic Data Interchange (EDI) was a system used for data exchange between business before the development of the Internet and the Web. They helped streamline processes and reduce error rates when the data was used.
Extranet A private website that is used to do business-to-business interaction with. They offer more advantages than EDI’s since they were low cost to implement, centrally managed, little training needed and improved timelines and accuracy of information.
Intranet Private network that authorized employees can access.
Which E-Commerce Types rely on extranet and intranet? (2 Types) B2B and B2E
Which E-Commerce Type uses the internet? B2C
3 Stages of B2C Commerce (Diagram) • E-Information • E-Integration • E-Transaction
E-Information Providing electronic brochures and other types of information for customers
E-Integration Process of providing customers with access to gain personalized information by querying corporate databases and other information sources
E-Transaction Allows customers to place orders and make payments
E-Tailing The online sales of goods and services
3 Benefits of e-tailing (Elaborate) • Product benefits • Place benefits • Price benefits
3 Drawbacks of E-Tailing (Elaborate) • Product delivery • Lack of sensory information • Lack of social element
Long Tail E-Tailing for niche markets
6 Rules for Attracting and Retaining Online Customers • Unique Website • Aesthetically pleasing Website • Website must be easy to use and fast • Website must motivate people to visit, purchase, stay and return • Website must advertise your presence on the web • Businesses must learn from their website
Search Marketing Pay fees to get listed in search engine results
Search Advertising Companies bid to be listed in sponsored search results
Search Engine Optimisation Position within search results based on a complex, secret formula
3 Ways to Advertise a Website • Search marketing • Search advertising • Search engine optimization
3 Types of Financial Transactions • Online banking • Electronic bill pay • Online Investing
2 Types of C2C E-Commerce • E-auctions • M-Commerce (Mobile)
5 Opportunties for C2C E-Commerce • Broader markets to buy and sell • No middleman • Available 24/7/365 • Set prices accordingly to market demand • Increased visibility of buyers and sellers to each other
3 Threats for C2C E-Commerce • No quality control • Higher possibility of fraud • Harder to use traditional methods to pay with like cash and cheques • M-Commerce (Mobile)
E-Government (Elaborate and give examples for the 3 forms of Government E-Commerce) Provides public services information to its citizens, business organizations and other governmental parties
Created by: coeezy