MGMT 3265 Chapter Notes - Chapter 10: Netscape, Digital Goods, Transact
22 Aug 2016
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Document Summary
Refers to the use of the internet and the web to transact business. About digitally enabled commercial transactions between and among organizations and individuals. Began in 1995 by netscape. com e-commerce is different because of the unique nature of the internet and the web (1) ubiquity. Reduces transaction costs - the costs of participating in a market. Technical standards of the internet are universal standards. These greatly lower market entry costs - the cost merchants must pay simply to bring their goods to market. Reduce search costs also - the effort required to find suitable products (4) richness. Refers to the complexity, personalization, and content of a message. The web makes it possible to deliver rich messages with audio, text, and video simultaneously to large numbers of people (5) interactivity e-commerce technologies are interactive, meaning they allow for two-way communication between merchant and consumer (6) information density.
