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chapter_07_Notes - CHAPTER 7 Theory Chapter 7 Electronic...

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CHAPTER 7 - Theory Chapter 7 - Electronic Commerce - Strategies for the New Economy Chapter 7 Theory notes - ELECTRONIC COMMERCE - Strategies for the New Economy What I consider important in the chapter This chapter presents some of the most important issues and rules to consider when operating in the e- commerce space. The first of the sections covers knowing your customers and their perception of value of products and services. Key terms here include mass customization, MRO materials, direct materials , and e- marketplaces (both horizontal and vertical ). The second section deals with finding customers and establishing relationships. Key terms here include marketing mix, online ads, viral marketing , and affiliate programs . The third section deals with moving money easily and securely. Key terms here include financial cybermediary, electronic check, smart card, digital wallet, EDI, financial EDI, encryption, Secure Sockets Layers , and Secure Electronic Transactions . E-COMMERCE BUSINESS MODELS (p. 321) Outline of the chapter PORTER’S FIVE FORCES MODEL: A FRAMEWORK FOR COMPETITIVE ADVANTAGE (p. 324) 1. Buyer Power 2. Supplier Power 3. Threat of Substitute Products or Services 4. Threat of New Entrants 5. Rivalry Among Existing Competition 6. Considering Porter in Light of E-Commerce UNDERSTAND YOUR BUSINESS, PRODUCTS, SERVICES, AND CUSTOMERS (p. 328) 1. Who Are Your Customers? 2. What Is the Value of Products and Services as Perceived by Your Customers? FIND CUSTOMERS AND ESTABLISH RELATIONSHIPS (p. 334) 1. Business to Consumer 2. Business to Business MOVE MONEY EASILY AND SECURELY (p. 338) 1. Business to Consumer Payment Systems 2. Business to Business Payment Systems 3. Security: The Pervading Concern Page 1 of 12
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KEY TERMS AND CONCEPTS Affiliate program 335 Business-to-business (B2B) e-commerce 322 Business-to-consumer (B2C) e-commerce 322 Buyer power 324 Click-through 335 Conversion rate 335 Demand aggregation 331 Digital wallet 339 Direct material 331 Electronic bill presentment and payment (EBPP) 338 Electronic cheque 338 Electronic commerce (e-commerce) 320 Electronic data interchange (EDI) 340 Electronic marketplace (e-marketplace) 332 Encryption 342 Entry barrier 326 Financial cybermediary 338 Financial EDI (financial electronic data interchange (FEDI) 341 Five Forces Model 324 Horizontal e-marketplace 333 Loyalty program 325 Maintenance, repair, and operations (MRO) materials (indirect materials) 331 Marketing mix 334 Mass customization 331 Online ad (banner ad) 334 Pop-under ad 334 Pop-up ad 334 Public key encryption (PKE) 342 Reverse auction 331 Rivalry among existing competitors 326 Secure electronic transaction (SET) 343 Secure sockets layer (SSL) 342 Smart card 338 Spoofing 348 Supplier power 325 Switching costs 325 Threat of new entrants 326 Threat of substitute products or services 325 Vertical e-marketplace 333 Viral marketing 335 Page 2 of 12
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chapter_07_Notes - CHAPTER 7 Theory Chapter 7 Electronic...

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