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Lecture 10

IS 3003 Lecture 10: Notes - Ecommerce_Digital Markets & Goods
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4 Pages
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Department
IS - Information Systems
Course Code
IS 3003
Professor
Nasim Talebi

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Description
IS3003 E-Commerce:DigitalMarkets/DigitalGoods Chapter 10 1. E-COMMERCE E-Commerce: ​Use of internet to E-business: ​Use of digital tech and transact business. Subset of internet to drive business e-business. purchases Digital goods: ​Goods that can be delivered over a digital network. Mobile Commerce: ​Using handheld devices/smartphones to have transactions 2. BUSINESS TYPES a. Bricks-and-mortar business (B&M):​ Physical store. b. Pure-play business (.com's, clicks only, or virtual):​ Exclusively virtual companies EX: amazon c. Clicks-and-mortar Business (clicks-and-bricks):​ Have both physical locations and provide online services d. New Clicks-to-Bricks:​ Place an order online and pick it up at the store. 3. UNIQUE FEATURES OF E-COMMERCE a. Ubiquity:​ Internet/web tech available anytime, anyplace. i. Effect of Ubiquity: A new "marketspace", Enhanced customer convenience, reduced shipping costs. b. Global Reach:​ The tech reaches across national boundaries, around Earth i. Effects of Global Reach: Commerce enabled across cultural and national boundaries seamlessly and without modification. ➢ Universal Standards:​ One set of tech standards: Internet standards i. Effects of Universal Standards: Lower market entry costs, Lower consumers' search costS ➢ Richness in Communication: ​refers to the complexity and content of a message i. Effects of Richness: Supports video, audio and text messages, Possible to deliver rich messages with text, audio and video simultaneously to large numbers of people. ➢ Interactivity: ​E-commerce can provide two-way communication between merchant and consumer online. EX: Feedback on website 1 i. Effects of Interactivity: Consumers engage in dialog that dynamically adjusts experience to the individual. ➢ Information Density: ​The total amount and quality of info available to all market participants i. Effects of Information Density: 1. On consumer:​ Greater price transparency, greater cost transparency. 2. On Merchants:​ Greater price discrimination. ➢ Personalization and Customization:​ Tech permits modification of messages and goods. Personalized messages can be sent to individuals as well as groups. ➢ Social Tech:​ The tech promotes user content generation and social networking. New social and business models enable user content and creation and disruption, and support social networks. ​ i. Effects of Social Tech: Creation of a new many-to-many model of mass communication (and potential marketing) 4. FEATURES OF DIGITAL MARKETS a. Digital Markets ​REDUCE: i. Information asymmetry ii. Search costs iii. Transaction costs iv. Menu costs b. Digital Markets ​ENABLE: i. Market segmentation and price discrimination ii. Dynamic pricing iii. Disintermediation​ - Removes intermediaries which reduces final costs to consumers 5. TYPES OF E-COMMERCE a. B2C​ - Business to Consumer: Business has transactions
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