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ChapterTen

E-commerce: Digital Markets, Digital Goods

QuestionAnswer
Advertising revenue model in this a website generates revenue by attracting a large audience of visitors who can then be exposed to advertisements.
Affiliate revenue model in this model websites sends visitors to other websites in return for a referral fee or percentage of the revenue from any resulting sales.
Behavioral Targeting is a technique to increase the effectiveness of banners.
Business-to-business (B2B) electronic commerce involves sales of goods and services among business.
Business-to-consumer (B2C) electronic commerce involves retailing products and services to individual shoppers.
Community providers are sites that create a digital online environment where people with similar interests can transact, share photos, videos, communicate with like minded people.
Consumer-to-consumer (C2C) electronic commerce involves consumers selling directly to consumers.
Cost transparency refers to ability of consumers to discover the actual costs merchants pay for products.
Crowdsourcing A potential solution method to solving business problems of a firm
Customization the technology also permits changing the delivered product or service based on users preferences or prior behavior.
Digital goods goods that can be delivered over digital network
Direct goods used directly in production process such as sheet of steel for auto body production.
Disintremediation the removal of organizations or business process layers responsible for intermediary steps in a value chain is called disintremediation.
Dynamic pricing the price of the product varies depending on the demand characteristics of the customer or the supply situation of the seller.
Electronic data interchange (EDI) enables the computer-to-computer exchange between two organizations of standard transactions such as invoices, bills of landing, shipment schedules or purchases orders.
E-trailer online retail stores are called e-trailer.
Exchanges are independently owned third party net market places that convert thousands of suppliers and buyers for spot purchasing.
Free/freemium revenue model in this firm offers basic services or content for free and charge a premium for advanced or special features.
Geoadvertising services Tells you where to find the nearest Italian restaurant
Geoinformation services Tells you the price of a house you are looking at or about special exhibits at a museum you are passing
Geosocial services Tells you where your friends are meeting
Indirect goods are goods not directly involved in production process.
Information asymmetry when one party in a transaction has more information that is more important for the transaction than the other party.
Information density the total amount of the quality of information available to all market participants , consumers, and merchants alike.
Intellectual property refers to tangible and intangible products of the mind for which the creator claims property right.
Location-based services Include geosocial, geoadvertising, and geoinformation services
Long tail marketing When the Internet allows marketers to find potential customers inexpensively for products where demand is very low
Market creator build digital environment in which buyers and sellers can meet. display products, search for products, and establish prices.
Market entry costs the cost merchants must pay simply to bring their goods to market .
Market space a marketplace extended beyond tradition boundaries and removed from a r=temporal and geographical location.
Menu costs merchants costs of changing prices.
Micropayment systems provides content providers with a cost effective method for processing high volume of very small monetary transactions.
Mobile commerce (m-commerce) use of handheld wireless devices for purchasing goods ad services from any location is termed as mobile commerce.
Net marketplaces which are sometimes called e-hubs provides a single , digital marketplace based on internet technology for many buyers and sellers.
Personalization Merchants can target their market messages to specific individuals by adjusting the message to person's click stream behavior, name , interests, and past purchases.
Podcasting is a method of publishing audio or video broadcasts through internet, allowing subscribing users to download audio or video files onto their personal computers, smartphones and portable music players.
Price discrimination selling the same goods or nearly the same goods, to different targeted groups at different prices.
Price transperency refers to ease with which consumers can find out the variety of prices in a market.
Private exchange is another term for private industrial network
Private industrial networks consists of large firm using a secure website to link to its suppliers and other key business partners.
Revenue model describes how the firm will earn revenue , generate profits and produce a superior return on investment.
Richness refers to complexity and content of message.
Sales revenue model is a revenue model where companies derive revenue by selling goods , information, or services to customers.
Search costs the effort required to find suitable products.
Social graph a mapping of all significant online social relationships.
Social shopping Sites such as Pinterest where you can swap shopping ideas with friends
Streaming is a publishing method for music and video files that flows a continuous stream of content to a users device without being stored locally on the device.
Subscription revenue model is service charge or subscription fee charged by a website fo access to some or all of its offerings.
Transaction costs the costs of participating in a market.
Transaction fee revenue model is a fee received by a company for enabling or executing a transaction.
Wisdom of crowds is a phenomenon where large number of people can make better decisions about wide range of topics or products than a single person or even a small committee of experts.
FinTech Start-up financial technology firms, that have grown rapidly to compete with banks for peer-to-peer (P2P) bill payment, money transfer, lending, crowd sourcing, financial advice, and account aggregation services
Native advertising Involves placing ads in social network news feeds or within traditional editorial content, such as a newspaper article
Created by: TroyIS3310