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ITM 100 Lecture Notes - Social Technology, E-Commerce, Transact

Information Technology Management
Course Code
ITM 100
Franklyn Prescod

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Chapter 10
E-Commerce Today
The use of the Internet and the Web to transact business
Digitally enabled transactions
Began in 1995 when advertisements were allowed
E-commerce continues to grow
Why E-commerce is Different
1. Ubiquity
Internet/Web technology available everywhere: work, home, etc., and anytime
2. Global reach
The technology reaches across national boundaries, around Earth
3. Universal standards
One set of technology standards: Internet standards
4. Richness
Supports video, audio, and text messages
5. Interactivity
The technology works through interaction with the user
6. Information density
Vast increases in information densitythe total amount and quality of information
available to all market participants
7. Personalization/Customization:
Technology permits modification of messages, goods
8. Social technology
The technology promotes user content generation and social networking
Key Concepts in E-commerce: Digital Markets and Digital Goods
Information Asymmetry
Lower Menu Costs
Dynamic Pricing
Digital Goods
Types of E-Commerce
Business-to-customer (B2C): Retailing of products and services directly to individual
Business-to-business (B2B): Sales of goods and services to other businesses (ChemConnect)
Consumer-to-consumer (C2C): Individuals using the Web for private sales or exchange
( )
E-Commerce Business Models
Content Provider
Transaction Broker
Market Creator
Service Provider
Community Provider
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