Chapter 1: The Revolution Is Just Beginning

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1. 1995-2000 beginning of e-commerce / first sales of 15. interactivity allows for two-way communication
innovation banner advertisements (1994) / first web between merchant and consumer.
page was built (1995)
16. internet worldwide network of computer networks
2. 2007-present the emergence of the mobile digital built on common standards. Created in late
reinvention platform, social networks and Web 2.0 1960s. Services include the Web, e-mail, file
application that attracted huge audiences transfers, etc.
in a very short time span.
17. local e- is a form of e-commerce that is focused on
3. B2B involves businesses selling to other commerce engaging the consumer based on his or her
businesses and is the largest form of e- current geographic location.
commerce.
18. marketplace physical space you visit in order to
4. B2C involves businesses selling to consumers transact.
and is the type of e-commerce that most
19. marketspace marketplace extended beyond traditional
consumers are likely to encounter.
boundaries and removed from a temporal
5. business new technologies present businesses with and geographic location.
(organizing new ways of organizing production and
20. mobile e- involves the use of wireless digital devices
theme) transacting business.
commerce to enable transactions on the Web.
6. C2C is a means for consumers to sell to each
21. network effect occurs where users receive value from the
other.
fact that everyone else uses the same tool
7. disintermediation displacement of market middleman who or product.
traditionally are intermediaries between
22. personalization merchants can target their marketing
producers and consumers by a new
and messages to specific individuals by
direct relationship between producers
customization adjusting the message.
and consumers.
23. richness refers to the complexity and content of a
8. e-commerce digitally enabled commercial transactions
message.
between and among organizations and
individuals. 24. social e- is e-commerce that is enables by social
commerce networks and online social relationship.
9. eight unique ubiquity, global reach, universal
features of e- standards, information richness, 25. society intellectual property, individual privacy,
commerce interactivity, information density, (organizing public welfare policy.
personalization/customization, social theme)
technology 26. technology development and mastery of digital
10. first mover a firm that is first to market in a particular (organizing computing and communications
area and that moves quickly to gather theme) technology.
market share. 27. types of e- B2C, B2B, C2C, social e-commerce, mobile
11. friction-free a vision of commerce in which commerce e-commerce, local e-commerce.
commerce information is equally distributed, 28. ubiquity available just about everywhere, at all
transaction costs are low, prices can be times.
dynamically adjusted to reflect actual
29. universal shared by all nations around the world.
demand, intermediaries decline, and
standards
unfair competitive advantages are
eliminated. 30. Web 2.0 a set of applications and technologies that
allows users to create, edit, and distribute
12. global reach permits commercial transactions to cross
content; share preferences, bookmarks, and
cultural and national boundaries.
online personas; participate in virtual lives;
13. information any disparity in relevant market and build online communities.
asymmentry information among parties in a
31. what is e- a technology driven business process
transaction.
commerce? designed to facilitate the buying and
14. information is the total amount and quality of selling of goods and services as well as
density information available to all market managed relationships, communication,
participants. and collaborations between customers and
business partners.
32. why study e- e-Commerce technology is different, more powerful than previous technologies. e-Commerce brings
commerce? fundamental changes to commerce
33. world wide web most popular internet service. Provides access to Web pages. Web content has grown exponentially.