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hw1 fund.docx - What are the unique features of e-commerce,...

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What are the unique features of e-commerce, digital markets, and digital goods?Name and describe four business trends and three technology trends shaping e-commerce today. List and describe the eight unique features of e-commerce.Define a digital market and digital goods and describe their distinguishingfeatures.E-commerce involves digitally enabled commercial transactions between and amongorganizations and individuals. Unique features of e-commerce technology includeubiquity, global reach, universal technology standards, richness, interactivity,information density, capabilities for personalization and customization, and socialtechnology.Digital markets are said to be more “transparent” than traditional markets, withreduced information asymmetry, search costs, transaction costs, and menu costs,along with the ability to change prices dynamically based on market conditions.Digital goods, such as music, video, software, and books, can be delivered over adigital network. Once a digital product has been produced, the cost of delivering thatproduct digitally is extremely lowFour business trends• Social Networking - used by companies to promote goods or services to a massiveonline audience• Online Advertising - Larger online audience will see the add when they open a siterather than if the ad were in print.• Online Newspapers -traditional newspapers have gone to offering onlinesubscriptions to their newspapers to reach the online audience.• Online Entertainment Business Models - Netflix and other sites and apps like it aremaking it possible for the public to have access to movies and TV shows instantly. E-books are another example of being able to get your book right when you want it viathe Internet.Three Technology trends• Social - social networks (Facebook, Ebay, Pintrest) used in e-commerce• Mobile - wireless devices used to conduct both business with consumer and otherbusinesses over the Internet.• Local - provide services to consumers that are location-specific.Eight unique features of e-commerce:o Global reach - the technology reaches across national boundaries, around Eartho Universal standards - one set of technology standards: Internet standards
o Richness - supports video, audio, and text messages

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Term
Spring
Professor
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Tags
Economics, Marketing, Microeconomics, Transaction cost

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