IS 301 UNR Reed Final Exam
E-commerce
use of the internet and web to transact business
began in 1995 and has grown exponentially
still stable even in a recession
e-commerce revolution is still in its early stages
Eight Unique Features of E-Commerce -Ubiquity -Global Reach -Universal Sta...
Internet/Web technology available everywhere: work, home, and so on, anytime
The effect:
Marketplace removed from temporal, geographic locations tobecome "marketspace"
Global Reach
The technology reaches across national boundaries, around Earth
The effect:
• Commerce enabled across cultural and national boundaries
• Marketspace includes, potentially, billions of consumers andmillions of businesses worldwide
Universal Standards
One set of technology standards: Internet standards
The Effect:
, • Different types of computer systems easily communicate with oneanother
• Lower market entry costs—costs merchants must pay to bringgoods to market
• Lower consumers' search costs—effort required to find suitableproducts
Richness
Supports video, audio, and text messages
The Effect:
Possible to deliver rich messages with text, audio, and video simultaneously to large numbers of people
Video, audio, and text marketing messages can be integrated into single marketing message and
consumer experience
Interactivity
The technology works through interaction with the user
The Effect:
Consumers engaged in dialog that dynamically adjusts experience to the individual
Consumer becomes co-participant in process of delivering goods to market
Information Density
total amount and quantity of information available to all market participants
The effect:
Greater price transparency
Greater cost transparency
Personalization/Customization
The technology allows personalized messages to be delivered to individuals as well as groups.
The Effect:
• Personalized messages can be sent to individuals as well asgroups.
• Products and services can be customized to individual preferences
Social Technology
The technology promotes user content generation and social networking
The Effect:
New social and business models enable user contentcreation and distribution
Effects of the Internet on the marketplace:
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