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ISPP Chapter 5
Electronic Commerce
| Question | Answer |
|---|---|
| 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 |
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