ITM 102 Study Guide - Quiz Guide: Disintermediation, Extranet, Retail

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 102
• Professor: Catherine Middleton

Document Summary

Answer: are industry owned or operate as independent intermediaries between buyers and sellers. Building a successful e-commerce site requires a keen understanding of business, technology, and social issues, as well as a systematic approach. Most businesses choose to outsource hosting and pay a company to host their web site, which means that the hosting company is responsible for ensuring the site is live, or accessible, 24 hours a day. In general, for digital goods, the marginal cost of producing another unit is about zero. The marketspace includes, potentially, billions of consumers and millions of businesses worldwide. In dynamic pricing, the price of a product varies depending on the demand characteristics of the customer or the supply situation of the seller. Cost transparency refers to the ability of consumers to discover the actual costs merchants pay for products. From a consumer point of view, ubiquity reduces transaction costs the costs of participating in a market.