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ecommerce lecture

ecommerce lecture - Chapter 1 Ecommerce the use of the...

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Chapter 1 Ecommerce : the use of the internet and the world wide web of transact business. More formally, digitally enabled commercial transactions between and among organizations and individuals Why study ecommerce? more powerful and influential and different than any of the other technologies we have experienced the past century. Consumers were previously trapped by geographical and social boundaries but now they can find out all sorts of information of prices, costs, and fees. “Information asymmetry”: any disparity in relevant market information among parties in a transaction. What’s the difference between E-commerce and E-business? E-business : the digital enabling of transactions and processes within a firm, involving information systems under the control of the firm. E-commerce is NOT anything digital that a firm does while e-business is. E-business does not include commercial transactions involving and exchange of value across organizational boundaries. E-business applications turn into e-commerce when an exchange of value occurs. Marketplace: physical place you visit in order to transact Eight Features of ecommerce Technology: 1) Ubiquity: available everywhere, at all times. Liberates restrictions. Instead
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