ITM 102 Chapter Notes - Chapter 5: E-Commerce, Online Advertising, Perfect Competition

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Document Summary

Advances in technology, product variety, and consumer demand have brought an ac- companying change in retailing strategy. E-commerce is a way of doing business around the world in an instant without the need for a physical business presence. Build to order is a way for manufacturers to directly solicit orders from consumers and deliver products directly. E-commerce ---> transactions that involve buying and selling goods and services through the internet. E-business ---> the broader use of internet technologies to reduce operating costs. E-commerce is the use of information systems, technologies, and computer networks by individuals and organizations to carry out transactions in order to create or support the creation of business value. Physical products include anything that requires an actual shipment of the item from a central distribution point to the buyer. Requires an off-line supply chain to handle the sales, order processing, and de- livery of these goods.

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