unique features of e- commerce, digital markets, and digital goods? What are the principal e- commerce business and revenue models? How has e- commerce transformed marketing? How has e- commerce affected business-to- business transactions? What is the role of m- commerce in business and what are the most important m- commerce applications? What issues must be addressed when building an e- commerce presence?
nature of the participants. Business-to-consumer (B2C) • electronic commerce involves retailing products and services to individual shoppers. • Example : BarnesandNoble.com, which sells books, software, and music to individual consumers Business-to-business (B2B) • electronic commerce involves sales of goods and services among businesses. • ChemConnect’s Web site for buying and selling chemicals and plastics Consumer-to-consumer (C2C) • electronic commerce involves consumers selling directly to consumers. • For example, eBay, the giant Web auction site, enables people to sell their goods to other consumers by auctioning their merchandise off to the highest bidder, or for a fixed price.
transactions is in terms of the platforms used by participants in a transaction. mobile commerce (m-commerce) • The use of handheld wireless devices for purchasing goods and services from any location. B2B and B2C e-commerce transactions can take place using m-commerce technology
physical products directly to consumers or individual businesses. E-tailer • Saves users money and time by processing online sale transactions and generates a fee each time. Transaction Broker
buyers and sellers meet, search for and display products, and establishes prices for those products • It can provide online auctions and reverse auctions. Market Creator • “Content” is defined broadly to include all forms of intellectual property • Creates revenue by providing digital content, such as digital news, music, photos, or video over the Web. • Podcasting • Streamline Content Provider
where people with similar interests can communicate and find useful information. Community Provider • Provides an initial point of entry to the Web along with specialized content and other services. Portal •Provides Web 2.0 applications such as photo sharing, video sharing, and user-generated content as services. •Provides other services such as online data storage and backup. Service Provider
ads on the site. •It’s the most widely used method of generating revenue. Advertising revenue •Sell products, information, or services directly to users. •Need a viable, secure micropayment system that processes high volumes of very small monetary transactions. Sales revenue •Charge an ongoing fee for content or services like magazines and newspapers already do offline. •Need to provide content that users perceive as worth the cost and not readily available elsewhere. Subscription revenue A firm’s revenue model describes how the firm will earn revenue, generate profits, and produce a superior return on investment.
charge a premium for special features. •The idea is to attract users to your site with freebies and then convert them to paying customers. •Because so much content on the Web has been free for so many years, it’s difficult to get people to pay for what they think they should get without charge. Free/Freemium revenue • Charge a fee for enabling or executing a transaction. • Don’t have to physically own the service or content. Rather, act as the middleman. Transaction fee revenue • Receive a referral fee or percentage of sales each time you steer customers to affiliated sites. Affiliate revenue 13
clicking behaviour) of individuals on thousands of Web sites. Behavioural Targeting • To understanding their interests and intentions, and exposing them to advertisements that are uniquely suited to their behaviour. Purpose • At individual Web sites • On various advertising networks that track users across thousands of Web sites. Two levels
crowds Crowdsourcing •Large numbers of people can make better decisions about topics and products than a single person. Prediction markets •Peer-to-peer betting markets on specific outcomes (elections, sales figures, designs for new products)
• The digital social graph is a mapping of all significant online social relationships. • Synonymous with the idea of a “social network” used to describe offline relationships Features of social e-commerce i. Newsfeed ii. Timelines iii. Social sign-on iv. Collaborative shopping v. Network notification vi. Social search (recommendations)
influence over others in social graph The target is a social network of people sharing interests and advice Facebook’s “Like button” Social networks have huge audiences •Facebook: 137 million U.S. visitors monthly Social media Fastest growing media for branding and marketing
B2B trade in 2014 is $13.8 trillion • U.S. B2B e-commerce in 2014 is $5.7 trillion • Procurement requires significant overhead costs, which Internet and networking helps automate
as invoices, purchase orders. Major industries have EDI standards that define structure and information fields of electronic documents. More companies are increasingly moving toward private networks that allow them to link to a wider variety of firms than EDI allows and share a wider range of information in a single system.
to its suppliers, distributors, and other key business partners. • Owned by buyer • Permits sharing of: • Product design and development • Marketing • Production scheduling and inventory management • Unstructured communication (graphics and e-mail) Private Industrial Network
production process, such as sheet steel for auto body production Indirect goods • other goods not directly involved in the production process, such as office supplies or products for maintenance and repair. May be vertical markets for specific industries or horizontal marketplaces for goods and services that can be found in many different industries, Single market for many buyers and sellers Industry-owned or owned by independent intermediary Generate revenue from transaction fees, other services Use prices established through negotiation, auction, RFQs, or fixed prices May focus on direct or indirect goods
have failed. encouraged competitive bidding that drove prices down did not offer any long-term relationships with buyers or services to make lowering prices worthwhile. Exchanges independently owned third-party Net marketplaces connect thousands of suppliers and buyers for spot purchasing. provide vertical markets for a single industry, and deal with direct inputs.
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