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Learning Objectives
Define e-commerce and describe how it differs from e-business Identify the unique features of e-commerce technology and their business significance Describe the major types of e-commerce Understand the visions and forces behind the E-Commerce I era
Learning Objectives
Understand the successes and failures of E-Commerce I Identify several factors that will define the E-commerce II era Describe the major themes underlying the study of e-commerce Identify the major academic disciplines contributing to e-commerce research
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Most well-known e-commerce company Conceived by Jeff Bezos in 1994 Opened in July 1995 Four compelling reasons to shop
Selection (1.1 million titles) Convenience (anytime, anywhere) Price (high discounts on bestsellers) Service (automated order confirmation, tracking, and shipping information)
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Digitally enabled commercial transactions between organizations and individuals. Digitally enabled transactions include all transactions mediated by digital technology Commercial transactions involve the exchange of value across organizational or individual boundaries in return for products or services
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Market relationships
Business-to-Consumers (B2C) Business-to-Business (B2B) Consumer-to-Consumer (C2C)
Technology-based
Peer-to-Peer (P2P) Mobile Commerce (M-commerce)
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Business-to-Consumer Ecommerce
Most commonly discussed type Online businesses attempt to reach individual consumers Consumers will spend $65 billion in 2001.
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Business-to-Business Ecommerce
Businesses focus on sell to other businesses Largest form of e-commerce $700 billion in transactions in 2001 Primarily involved inter-business exchanges at first Other models have developed
e-distributors infomediaries B2B service providers
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Consumer-to-Consumer Ecommerce
Provide a way for consumers to sell to each other Estimated $5 billion market Consumer:
prepares the product for market places the product for auction or sale relies on market maker to provide catalog, search engine, and transaction clearing capabilities
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Peer-to-Peer E-commerce
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Mobile E-commerce
Wireless digital devices enable transactions on the Web Uses personal digital assistants (PDAs) to connect Used most widely in Japan and Europe
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Created in the late 1960s About 350 million computers worldwide to date Links businesses, educational institutions, government agencies, and individuals Provides services such as e-mail, document transfer, newsgroups, shopping, research, instant messaging, music, video, and news
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Internet hosts are growing at a rate of 45% per year Extraordinary growth -- time to reach 30% US households
Radio - 38 years Television - 17 years Internet/Web - 8 years (1993)
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Baxter Healthcare
Primitive form of B2B using telephone-based modem to permit hospitals to reorder supplies (early 1970s) PC-based remote order entry system (1980s)
Electronic Data Interchange (EDI) standards developed that permitted firms to exchange commercial documents and conduct digital commercial transactions across private networks (1980s)
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E-Commerce I and II
E-Commerce I
Explosive growth starting in 1995 Widespread of Web to advertise products Ended in 2000 when dot.com began to collapse
E-Commerce II
Began in January 2001 Reassessment of e-commerce companies
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E-Commerce I 1995-2000
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E-Commerce I 1995-2000
For economists
Raised realistic prospect of perfect Bertrand Market
where price, cost, and quality information is equally distributed where a nearly infinite set of suppliers compete against one another where customers have access to all revelant market information worldwide
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E-Commerce I 1995-2000
Disintermediation displacement of market middlemen who traditionally are intermediaries between producers and consumers by a new direct relationship between manufacturers and content originators with their customers
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E-Commerce I 1995-2000
Friction-free commerce
a vision of commerce in which
information is equally distributed transaction costs are low prices can be dynamically adjusted to reflect actual demand intermediaries decline unfair competitive advantages are eliminated
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E-Commerce I 1995-2000
First mover
a firm that is first to market in a particular area and that moves quickly to gather market share
Network effect
occurs where users receive value from the fact that everyone else uses the same tool or product
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E-Commerce II 2001-2006
Crash in stock market values of Ecommerce I companies throughout 2000 is an end to E-commerce I Led to a sobering reassessment of the prospects of e-commerce and the methods of achieving business success. E-commerce II begins in 2001 and ends five year later -- the limit for making technology and business projections
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E-Commerce II 2001-2006
Between 1998 and 2000 venture capitalists poured an estimated $120 billion into approximately 12,450 dot.com start-up ventures Investment bankers took 1,262 of these companies public in IPOS IPO shares were targeted to open around $15 per share, and it was not uncommon for them to be trading at $45 a share or more later the same trading day
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Technology: Infrastructure
development and mastery of digital computing and communications technology
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