EXAM # 3 - Business 340 Information Systems in Business...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Business 340 – Information Systems in Business Exam 3 Study Guide Chapter 9: E-Commerce: Digital Markets, Digital Goods- Digital goods are goods that can be delivered over a digital network. Music tracks, video, software, news paper, magazine, etc. Digital markets are said to be more transparent than traditional markets. They are very flexible and efficient, with reduced search and transaction costs, lower menu costs, and the ability to change prices dynamically based on market conditions. They bypass intermediaries, such as retail outlets. Unique features of e-commerce (list and define each)- The use of the Internet and the Web to transact business. About digitally enabled commercial transactions between and among organizations. 1) Ubiquity- available everywhere: work, home, or mobile devices Reduces transaction costs and time spent making purchase. *Martketspace- extended beyond traditional boundaries and removed from a temporal and geographic location. 2) Global Reach- Reaches across national boundaries 3) Universal Standards- On set of tech standards- INTERNET standards lower market entry costs- the cost that marketers have to pay to make goods available and reduces the SEARCH COST for consumers. 4) Richness- Video, audio, and txt messages- 5) Interactivity- The tech. works through interaction with the user- makes consumer a co-participant in the process of delivering goods to the market. 6) Personalization/Customization- allows personalized messages to be delivered to other individuals or groups. Customization- changing the delivered product or service based on a users prior behavior. 7) Information Density- The technology reduces information costs and raises quality. Currency, accuracy, and timeliness improve greatly. Information is cheap and more accurate. *Price Transparency- refers to the ease with which consumers can find out the variety of pries in a market. *Cost Transparency- the ability to discover the actual costs merchants pay for products. *Price discrimination- selling the same goods, to different targeted groups at different prices. E-Commerce models (B2C, C2C, B2B): (definition, largest, etc.)- 1) B2C- retailing products and services to individual shoppers. Example: BarnesandNoble.com- sells books, etc. to consumers. 2) B2B- involves sales of goods and services among businesses. Milacrons Web site for selling machinery, tools, supplies, and service to companies engages in plastic processing is an example Page 1 of 7
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
3) C2C- consumers selling directly to consumers. Ebay, the giant web auction site, enables people to sell their goods to other consumers, by auctioning the merchandise off to the highest bidder. M-Commerce (definition, challenges)- - The use of handheld wireless decides for purchasing goods and services from any location. Both B2B and B2C e-commerce transactions can take place using this. Represents a small fraction of total e-commerce transactions, but revenues are growing. Services include information-based(email, text, etc), Transaction-
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 7

EXAM # 3 - Business 340 Information Systems in Business...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online