Define E-commerce
Involves digitally enabled commerical transactions between and among organzations and individuals. Transactions that occur over the Internet, the Web and/or via mobile devices
Define E-business
Refers to primarly the digital enabling of transactions and processes within a firm, involving information systems under the control of the firm
What are the eight features of E-commerce technology?
- Ubiquity - accessable everywhere
- Global Reach - cross cultural and national boundaries more convinently and cost-effective
- Universal Standards - shared by all nations around the world
- Richness - enabling online merchants to deliver marketing messages not possible before
- Interactivity - allow two communication between merchant and consumer
- Information density - the total amount of information available to all market participants
- Personalization/customization - allow merchants to create customized marketing messages to specific individuals
- Social Technology - provides a many-to-many model of mass communication
What are the 6 major types of E-commerce?
- B2C - the type most consumers are likely to encounter. Amazon
- B2B - the largest form of e-commerce. Go2Paper
- C2C - eBay, AirBnB
- M-commerce - tablets, computers and smartphones
- Social e-commerce - Facebook
- Local e-commerce - Groupon, offering subscribers daily deals from local businesses
What are the three stages e-commerce has gone through (history of it)?
- Innovation - 1995-2000 (experimentation, capitalization and hypercompetition), technology driven
- Consolidation - 2001-2006, business driven
- Reinvention - 2007 and onwards with the emergence of the mobile digital platform, social networks and Web 2.0 applications
What is an incubator?
Helping businesses move from little more than a great idea to an established vibrant business. Example is Rocket Internet
What are the three major themes underlying the study of e-commerce?
- Technology - to understand e-commerce you need a basic understanding of the information technologies upon which it is built. Example, the Internet, the Web and mobile platforms
- Business - technology provides the infrastructure while business create the interest and excitement of e-commerce
- Society - need to understand the pressures that global e-commerce places on contemporary society. Primary societal issues are intellectual property, individual privacy and public policy
What are the two primary approaches to e-commerce?
- Technical - includes data mining, search engine design and AI
- Behavioral - sociology, economics, finance and accounting, management and marketing implications
What types of media are there?
- Earned media (Public relations)
- Owned media
- Purchased media
