Chapter 13.doc
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Department
Information Technology Management
Course
ITM 102
Professor
Vikraman Baskaran
Semester
Winter

Description
Chapter 13Ecommerce digital markets and digital goodsEcommerce refers to the use of the Internet and the Web to transact businessWhy ecommerce is differentUbiquity available almost everywhere Market spacea marketplace extended beyond traditional boundaries and removed from a temporal and geographic locationTransaction costs the costs of participating in a marketGlobal Reach permits commercial transactions to cross cultural and national boundaries Universal StandardsUniversal Technical standardsMarket entry costs the cost merchants must pay simply to bring their goods to market Search costs the effort required to find suitable productsRichness refers to the complexity and content of a message InteractivityInformation Densitythe total amount and quality of info available to all market participants consumers and merchants alikePrice transparency refers to the ease with which consumers can find out the variety of prices in a marketCost transparency refers to the ability of consumers to discover the actual costs merchants pay for productsprice discrimination selling the same goods or nearly the same goods to different targeted groups at different pricesPersonalizationcustomizationSocial technology Key concepts in EcommerceAn information asymmetry exists when one party in a transaction has more info that is important for the transaction action than the other party
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