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ChapterTen
E-commerce: Digital Markets, Digital Goods
| Question | Answer |
|---|---|
| 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 |
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