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Bus110-Midterm1 Chapter 4


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An abstraction of what an enterprise is and how the enterprise delivers a product or service, showing how the enterprise creates wealth.
Business model
The time and money spent locating a suitable product and determining the best price for that product.
Search costs
Situation where the relative bargaining power of two parties in a transaction is determined by one pary in the transaction possessing more information essential to the transaction than the other party.
Information asymmetry
Measurement of the depth and deail of information that a business can supply to the customer as well as information that business collects about the customers.
Measurement of how many people a business can connect with and how many products it can offer those people.
Pricing of items based on real-time interactions between buyers and sellers that dtermines what an item is worth at any particular moment.
Dynamic pricing
A graphic display on a Web page used for advertising. The banner is linked to the advertiser's Web site so that a person clicking on it will be transported to the advertiser's Web site.
Banner ad
Ad that opens automatically and does nto disappear until the user clicks on it.
Pop-up ad
Web site or other service that provides an initial point of entry to the Web or to internal company data.
Business aggregating contact or application from multiple sources, packaging them for ditribution, and reselling them to third-party Web sites.
Business models based purely on the Internet.
Business model where the Web site is an extension of a traditional bricks-an-mortar business.
Electronic retailing of products and services directly to individual consumers.
Business-to-consumer (B2C) electronic commerce
Electronic sales of goods and services among businesses.
Business-to-business (B2B) electronic commerce
Consumers selling goods and services electronically to other consumers.
Consumer-to-consumer (C2C) electronica commerce
The use of wireless devices, such as cell phones or handheld digital information appliances, to conduct both business-to-consumer and business-to-business e-commerce transactions over the Internet.
Mobile commerce (m-commerce)
The removal of organizations or business process layers responsible for ceratin intermediary steps in a value chain.
The shifting of the intermediary role in a value chain to a new source.
The tailoring of Web contact directly to a specific user.
Web personalization
An organizational department responsible for handling customer service issues by telephone and other channels.
Call center
Sourcing goods and materials, negotiating with suppliers, paying for goods, and making delivery arrangements.
Another term for a private industrial network.
Private exchange
A single digital marketplace based on Internet technology linking many buyers to many sellers.
Net marketplace
Third-party Net marketplace that is primarily transaction oriented and that connects many buyers and suppliers for spot purchasing.

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