Flashcards
IS3240 Lecture 1
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- 1Define E-Commerce► the use of internet and the web to transact business
► digitally enabled commercial transactions between and among organizations and individuals
► e.g: marketing, selling and buying of products and services on the web - 2Define E-business► Strategic use of the Internet for all processes and transaction within a firm
► Includes both the external and internal electronic and internet-based activities related to an enterprise or organization, including e-commerce
► is the use of information networks to gain competitive advantage: universal connectivity between enterprise and value chains, process enhancement, innovative business models
► Improving business performance through low cost and open connectivity: new technologies in the value chain/ connecting value chains across businesses, in order to: improve service/ reduce cost, open new channels and transform competitive landscapes. - 3E-Business Hype Cycle: 1990-1996Technology Trigger:
► Internet Web ► Dot-com begins - 4E-Business Hype Cycle: 1997US IPOs
- 5E-business Hype Cycle: 1998US Christmas 1998:
the first e-tail Christmas, online consumer spends $4 billions in fourth quarter and $10 billions in 1998. Amazon.com surpassed $1billion annual sales. - 6E-business Hype Cycle: 1999Peak of inflated expectations: "e" is best
- 7E-business Hype Cycle: 2000-2003► 2000: "Dot.com" share fallout,
► 2001: investor disillusionment
► 2002: "Dot.com" shakeout, publicized e-failures
► 2003: Trough of disillusion - business disillusion - 8E-business Hype Cycle: 2004-2007►2004: Search for 'True' E-business, US IOPs 2004,
► 2005-2007: Slope of enlightenment - optimized e-business - 9E-business Hype Cycle: 2008-20102008-2010:
Plateau of Profitability - Post-Net Business - 10Emerging trends of E-business practices: HIGH potential impact on market LOW Maturity/ ROI Game Changers► Machine- learning Services
► New Business Models
► Bitcoin
► 3D Printing
► Wearables
► Beacon Technology
► New Customer Acquisition Models - 11Emerging trends of E-business practices: HIGH potential impact on market HIGH Maturity/ ROI DO IT► Omnichannel: cross channel, cross-device and online-to-store shopping behavior
► Digital Content
► Mobile
► Programmatic Ad Buying and Marketing Auto - 12Emerging trends of E-business practices: MEDIUM potential impact on market MEDIUM Maturity/ ROI QUICK WINS► Automated Pricing Optimization
► Big buying days - 13Emerging trends of E-business practices: LOW potential impact on market HIGH Maturity/ ROI WORTH CONSIDERING► Next Day delivery
► Free Shipping
► In-store pickup
► Content marketing
► Hybris
► Magneto: cloud-based eCommerce solution, includes web hosting => support small businesses as it has no need for software installation - 14E-business Strategy example 1: Singtel Fibre Broadband BundleWhy?
- 15E-business strategy example 2: "free trials" in software businessesWhy?
- 16E-business strategy example 3: Digital music pricing strategiesWhy?
- 17E-business strategy example 4: video hosting service market competitionwhy?
- 18E-business Models► E-shops: web marketing or a shop (B2C), e.g. Amazon
► E-procurement: E-tendering & procurement of goods and services (B2B and B2C), e.g. Alibaba
► E-shopping Centers/ E-malls: a collection of E-shops (e.g. Taobao)
► E-autions: E-implementation of bidding mechanism (e.g. eBay)
► Virtual communities: members with common interests (e.g secondlife)
► collaboration platforms: tools and information environment for members to collaborate (e.g. Google Doc, Basecamp)
► Third party marketplaces: leaving web marketing to third party (e.g. Amazon marketplace, Google App marketplace)
► Value-chain integrators or service providers (e.g. Paypal) - 19E-business vs Traditional business (e.g. hotel chains vs airbnb)► traditional business develop step by step: understand business, opportunity analysis, implementation plannng, implement, reassess
► traditional business: definitions are clear, no change in the business and technology environment, high time pressure, continuous learning
► E-business: definitions of the future are fuzzy, permanent and unpredictable change in the business and technology environment, tie to market and speed are major competitive factors, continuous learning and fast adaptation is required - 20What are the new things in E-business? (1/2)► High start-up, fixed costs, low marginal cost structures, e.g. vendors who sell digital music & movies need to pay high costs to get license of music and movies, e.g. software vendors need to invest in R&D on software development & innovation
► differentiation of products and prices: mass customization (e.g. order customized PC/ laptop from vendor's website), e.g. companies can fine-tune prices much easier and often than conventional retailers
► companies compete in both ways: supply-side economies of scale (e.g. reduction in fixed costs, compete to acquire monopoly, etc. Chinese phone vs iPhone and Samsung), demand side economies of scales (e.g. network externalities), - 21What are the new things in E-business? (2/2)► lower buyer searching costs, and lower menu costs: lower price for online market, for differential products, price elasticity may be lower online, E-business retailers make more price changes than conventional retailers
► consumer trust and branding are extremely important for e-business firms to compete in online market
► tipping market: strong market players become stronger
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- IS3240 Flashcards on IS3240 Lecture 1, created by Tien Tran on 26/02/2017.
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