© Farhan Mir 2014 IMS E-Commerce BBA (Hons) Course Overview & Introduction Lectures 1,2,3 Course Lecturer: Farhan Mir

© Farhan Mir© Farhan Mir

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E-CommerceE-CommerceBBA (Hons)BBA (Hons)

Course Overview & Course Overview & IntroductionIntroductionLectures 1,2,3Lectures 1,2,3

Course Lecturer: Farhan MirCourse Lecturer: Farhan Mir


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Lectures 123 Lectures 123 AdministrationAdministrationIntroducing MyselfCourse IntroductionFew Words on Articles & Additional ReadingsSuggestions and criticism about previous semestersSuggestion for future course of actionE-Business OverviewMy Own Website as Online Resource Center

(www.themirs.org)


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Course LecturerCourse Lecturer (Brief (Brief Introduction)Introduction)

Farhan Azmat Mir

MIMS [Monash University Melbourne]MBA (MIS) [B.Z.U] Gold Medal

Some Words regarding my Academic and Professional Life

10 Years at IMS 10 Years at IMS AcademicallyAdministrativelyColleges & StudentsLearning Curve

Some Words on the Future


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Current Responsibilities at Current Responsibilities at IMSIMSAdvisor Students (Evening)

All issues and queries relating to evening All issues and queries relating to evening programs including BBA-IT, MBA-IT, MBA programs including BBA-IT, MBA-IT, MBA (Banking) and MBA (Executive)(Banking) and MBA (Executive) Coordination of all academic and extra-curricular Coordination of all academic and extra-curricular functions relating to evening programs including functions relating to evening programs including “Formal “Formal

Orientations", "Welcome & Farewells Parties"Orientations", "Welcome & Farewells Parties"

Coordinator BBA-Eve Program Curriculum Development and ReviewCurriculum Development and ReviewAll office documentation (Course Files and All office documentation (Course Files and Quality documents)Quality documents)Coordination with Permanent & Visiting Faculty Coordination with Permanent & Visiting Faculty membersmembersStudent application and documentation Student application and documentation evaluationevaluationClass Scheduling and MonitoringClass Scheduling and Monitoring


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My Introduction: My Introduction: Consultation Consultation MethodMethod Best through e-mail address

([email protected]) OR

In case of submission of assignment through email ([email protected])

After/before lectures on lecture day OR

Announced Timings in case of Assignments or Reports


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My Introduction: My Introduction: InterestsInterests

Social & Cultural Change

Religion

History &Art

Creativity & New Ideas

Sports

PersonalityDevelopment


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My InspirationsMy Inspirations


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My InspirationsMy Inspirations


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Favourite QuotesFavourite Quotes"Champions aren't made in gyms. Champions are made from something they have deep inside them: A desire, a dream, a vision. They have to have last-minute stamina, they have to be a little faster, they have to have the skill and the will. But the will must be stronger than the skill." -Muhammad Ali


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Favourite QuotesFavourite Quotes

“You are educated. Your certification is in your degree. You may think of it as the ticket to the good life. Let me ask you to think of an alternative. Think of it as your ticket to change the world”.(Tom Brokaw)


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Course Course Administration &Administration &RequirementsRequirements


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Course AdministrationCourse Administration

Exams and AssessmentBasically 2 exams method Mid & Basically 2 exams method Mid & FinalFinal

35 Mid

45 Final

20 Sess


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ExaminationExamination

I personally believe in “thorough studies” so usually no choices given in the examEvery thing discussed, during the class or given as reading material, could be part of the examsQuestions will be formulated in a way to examine both bookish as well as conceptual thinking Other details will be given close to MidI will try to follow my simple rule that is

“ “ I’ll be very friendly in the lectures and very I’ll be very friendly in the lectures and very strict in the exam hall strict in the exam hall (believe me no (believe me no chance of misconduct…)”chance of misconduct…)”


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Lecture NotesLecture NotesAvailable from Photostat shop before lectures or preferably one day before the start of new week

Usually the lecture material will cover the topics of one weekLecture Notes also now available online on the given website address (www.themirs.org/ec.html)Lecture Notes will not be in detail format rather these will contain topics of discussion and important announcements regarding assessments.

Most Importantly Lecture Notes are just a supporting material and students must not forget to read books for detail and complete understanding (In case of Management as a subject you need to do extensive reading on topics under discussion & look for majority of web sites for practical know how)


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Course AdministrationCourse AdministrationSessionals

Written assignments (Small Tasks) (details in coming Written assignments (Small Tasks) (details in coming lectures)lectures)

Critiques on Articles (a one page summary on an article related to the discussion topic and trends in E-Commerce

Idea is to initiate research oriented writing not “cut-copy-paste”

Attendance, Presentations, Quiz & Class Discussion & Attendance, Presentations, Quiz & Class Discussion & Participation (as a regular activity)Participation (as a regular activity)

Volunteer presentations (you must not be that Volunteer presentations (you must not be that familiar with this kind of stuff but you need to familiar with this kind of stuff but you need to respond to it quickly!)respond to it quickly!)

Sessional’s loot saleSessional’s loot sale

Formal Presentations in groups and if you want to Formal Presentations in groups and if you want to take it one step ahead you could arrange small take it one step ahead you could arrange small seminars for other classes (preferably your juniors) seminars for other classes (preferably your juniors) on given “Research Topics”on given “Research Topics”


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How to get more marks?How to get more marks?

RequirementsOverall Class AttitudeOverall Class Attitude

Things to Avoid (Referencing, Cut-Copy-Things to Avoid (Referencing, Cut-Copy-Paste Culture, Carelessness, leg-pulling)Paste Culture, Carelessness, leg-pulling)

Things to do (Innovation, Confidence, Things to do (Innovation, Confidence, Work Attitude)Work Attitude)

Sense of Maturity and continuous Sense of Maturity and continuous learninglearning


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One of the Major One of the Major SessionalsSessionalsCase Study Presentation

Students in groups of 5-6 will choose an e-Business Students in groups of 5-6 will choose an e-Business (Preferably a Pakistani Organization)(Preferably a Pakistani Organization)Case should be developed on the given format (A Case should be developed on the given format (A model format will be discussed in upcoming model format will be discussed in upcoming lectures)lectures)Students need to develop a proper case study using Students need to develop a proper case study using the case study development guidelinesthe case study development guidelinesEventually will present their findings in the shape of Eventually will present their findings in the shape of a Presentation in front of the class or classes on a Presentation in front of the class or classes on MultimediaMultimediaStudents need to submit both Hard (Printed) and Students need to submit both Hard (Printed) and Soft copies (Computer files) of the Case itself and Soft copies (Computer files) of the Case itself and that of the PowerPoint Presentation that of the PowerPoint Presentation This is day 1 so you can start working now!This is day 1 so you can start working now!I will myself present at least one Case Study well I will myself present at least one Case Study well before the presentation schedule so that you people before the presentation schedule so that you people have an idea have an idea


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Past Student Case StudiesPast Student Case Studies

Harley Davidson (Motor Bike Company)

PIA (Travel Industry)

UBL (Banking Online)

World Expeditions (Tourism & Travel)

Ufone(Telecommunication)

IBM (Computer Giant)


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Course OrientationCourse OrientationBasically Theoretical focus

Introduction of Concepts and Issues regarding E-Business (This subject is developed in case study mode: it means that there are lot of case studies)

ButThe practical orientation will also be also be a major The practical orientation will also be also be a major focus of the course (this will include practical focus of the course (this will include practical demonstration on multimedia)demonstration on multimedia)

Lecture notes will include more graphical explanation Lecture notes will include more graphical explanation of things to give more practical orientation about of things to give more practical orientation about concepts & applications especially the websites of concepts & applications especially the websites of major e-Businessesmajor e-Businesses

Formal Presentation from Students will also work in Formal Presentation from Students will also work in this regardthis regard

Video or Audio Presentation will also be part of the Video or Audio Presentation will also be part of the lectures lectures


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Text & ReferencesText & References

Focus will be on topics rather Chapters of any textMany Text/books are available in market

Efraim Turban, Jae Lee, David King,Ting-Peng Liang & Deborrah Turban. (2010). “Electronic Commerce: A Managerial Perspective” (Sixth Edition). Prentice Hall International

Mostly things will be taught from the Text but students need to broaden their view and consult as many additional references as possible (Preferably available in local market and from the Internet)


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Guidelines for me as

an Instructor

True Knowledge

not stories

Class Environment

Updated Teaching

Methodology

Neutral Assessment (Objective)

Competency & Skills

Learning not Teaching

Miscellaneous

(Regularity, Consultancy,

Support etc)


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Overview of

Electronic Commerce & E-Business


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EC Definitions & ConceptsEC Definitions & Concepts

Electronic Commerce (EC) is the process of buying, selling, or exchanging products, services, and information via computer networksEC defined from these perspectives

CommunicationsCommunications

Business processBusiness process

ServiceService

Online CollaborationsOnline Collaborations

CommunityCommunity


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E-Business Definitions & E-Business Definitions & ConceptsConcepts

E-business is a broader definition of EC that includes not just the buying and selling of goods and services, but also

Servicing customers (Value Added Servicing customers (Value Added Information)Information)

Collaborating with business partners Collaborating with business partners (Alliances /Networks)(Alliances /Networks)

Conducting electronic transactions Conducting electronic transactions within an organization (Intra-Business within an organization (Intra-Business Activities)Activities)

Non-Profit Activities (Community Non-Profit Activities (Community Building)Building)


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E-BusinessE-Business

Quote from Lou Gerstner, former IBM’s CEO:

“E-Business is all about speed, globalization, enhanced productivity, reaching new customers, and sharing knowledge across institutions for competitive advantage.”


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IntroductionIntroduction

What is E-Business?Simple definition: Any business carried out in electronic form.

“The complex fusion of business processes, enterprise applications, and organizational structure to create a high-performance business model.” (Kalakota and Robinson)


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Examples of E-BusinessExamples of E-Business

Yahoo

eBay

Amazon

Priceline

Sears

Virtual University of Pakistan


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Examples of E-CommerceExamples of E-Commerce

Online Auctions - OLXOnline Auctions - OLX

ATM machines??? - BanksATM machines??? - BanksBilling KIOSKs – NADRAOnline Transactions – Online BankingAttendance Systems – Wide range of IndustriesEFPOS and Magnetic Cards


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Up and coming: Pakistani startup raises $5m from venture capitalist• In what can serve as an inspiration for the country’s tech firms seeking expansion in the world’s largest market

• Pakistani start-up ‘Convo’ has raised million in investment capital from a top tier Company in Silicon Valley.

• It is, arguably, the first Pakistani company to receive such major funding from an firm in the world’s IT hub.


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Traditional commerce: Traditional commerce: all dimensions are all dimensions are physicalphysical

Brick-and-mortar organizations

Old-economy Old-economy organizations organizations (corporations)(corporations)

Perform all Perform all business off-linebusiness off-line

Sell physical Sell physical products by means products by means of physical agentsof physical agents


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Pure EC: all dimensions Pure EC: all dimensions are digitalare digital

Pure online (virtual) organizations

New-economy organization

Sell products or services only online

Partial EC: a mix of digital Partial EC: a mix of digital and physical dimensionsand physical dimensions

Click-and-mortar organizations

Conduct EC activities

Do their primary business in the physical world


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The Dimensions of Electronic The Dimensions of Electronic CommerceCommerce


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Physical to Virtual Physical to Virtual InterfacingInterfacing

Old-economy companies are extending their reach by offering on-line services (catalogs, commodities, and e-services),

Office Depot (Office supplies; #2 web retailer, Office Depot (Office supplies; #2 web retailer, after Amazon) after Amazon) ((www.officedepot.com) & www.officedepot.com) & (www.amazon.com)(www.amazon.com)

LL Bean (Catalog sales; Dogs are in at LL Bean) LL Bean (Catalog sales; Dogs are in at LL Bean) (www.llbean.com)(www.llbean.com)

Barnes and Noble(Booksellers) Barnes and Noble(Booksellers) (www.bn.com)(www.bn.com)

Boeing Parts Network (24/7 parts for airlines) Boeing Parts Network (24/7 parts for airlines) ((www.boeing.com/assocproducts/direct/bd_home.html)www.boeing.com/assocproducts/direct/bd_home.html)

Outreach to customers.Commodities sell well in e-space.


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Internet vs. Non-Internet ECInternet ECInternet EC

Use of Websites to advertise, Buy & Sell

Much cheaper and highly accessible

Non-Internet ECNon-Internet EC

VANs—value-added networks

LANs—local area networks

Single computerized machines

Using a smart card in a vending Using a smart card in a vending machinemachine

Using a cell phone to make an online Using a cell phone to make an online purchasepurchase


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The EC Framework and The EC Framework and FieldField

An EC FrameworkEC applications supported by EC applications supported by infrastructure and 5 support areasinfrastructure and 5 support areas

PeoplePublic policyTechnical standards and protocolsBusiness partners (mutual collaboration)Support services


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A Framework for ECA Framework for EC


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Classification of EC by the Classification of EC by the Nature of the TransactionNature of the Transaction

Business-to-business (B2B) : EC model in which all of the participants are businesses or other organizations

Business-to-consumer (B2C): EC model in which businesses sell to individual shoppers

Business-to-business-to-consumer (B2B2C): EC model in which a business provides some product or service to a client business; the client business maintains its own customers, to whom the product or service is provided


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Examples!Examples!

Business-to-Consumer (B2C)Yahoo!Yahoo! (www.yahoo.com) - (aggregator) leading (www.yahoo.com) - (aggregator) leading portalportal and most visited e-space! and most visited e-space!

McAfee (www.mcafee.com) Software McAfee (www.mcafee.com) Software subscription services for virus scanning.subscription services for virus scanning.

Software purchase, delivery and update, Software purchase, delivery and update, example is: Copernic (www.copernic.com)example is: Copernic (www.copernic.com)

Digital Content Services; example is: Sony Music Digital Content Services; example is: Sony Music (www.sony.com) (www.sony.com)


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Classification of EC by the Classification of EC by the Nature of the Transaction Nature of the Transaction

Consumer-to-business(C2B): individuals who use the Internet to sell products or services to organizations and /or seek sellers to bid on products or services they need

Consumer-to-consumer (C2C) : consumers sell directly to other consumers


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Examples!Examples!

Consumer-to-Consumer (C2C)EbayEbay (www.ebay.com) - (facilitator) electronic (www.ebay.com) - (facilitator) electronic auctions with consumers handling transaction auctions with consumers handling transaction and shipping.and shipping.

NapsterNapster (www.napster.com) - (facilitator) peer- (www.napster.com) - (facilitator) peer-to-peer music exchange; courts not happy.to-peer music exchange; courts not happy.

Groove NetworksGroove Networks (www.groove.com) (facilitator) (www.groove.com) (facilitator) secure peer-to-peer collaboration services. secure peer-to-peer collaboration services. Founded by Ray Ozzie, the creator of Lotus Founded by Ray Ozzie, the creator of Lotus Notes.Notes.


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Mobile commerce (m-commerce)—EC transactions and activities conducted in a wireless environment

Location-commerce—(l-commerce)

m-commerce transactions targeted to individuals in specific locations, at specific times


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Intrabusiness (organizational) EC: EC category that includes all internal organizational activities that involve the exchange of goods, services, or information among various units and individuals in an organization


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Classification of EC by the Classification of EC by the Nature of the Transaction Nature of the Transaction Business-to-employee (B2E): EC model in which an organization delivers services, information, or products to its individual employees

Collaborative commerce (c-commerce): EC model in which individual or groups communicate or collaborate online

E-government: Government-to-citizens (G2C): EC model in which a government entity buys or provides good, services, or information to businesses or individual citizens


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MarketingComputer sciencesConsumer behavior and psychologyFinanceEconomics

Management information systemsAccounting and auditingManagementBusiness law and ethicsOthers

Interdisciplinary Nature Interdisciplinary Nature of ECof EC


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The Benefits of ECThe Benefits of EC

Benefits to OrganizationsExpands the marketplace to national Expands the marketplace to national and international marketsand international markets

Decreases the cost of creating, Decreases the cost of creating, processing, distributing, storing and processing, distributing, storing and retrieving paper-based informationretrieving paper-based information

Allows reduced inventories and Allows reduced inventories and overhead by facilitating pull-type overhead by facilitating pull-type supply chain managementsupply chain management


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Benefits of EC Benefits of EC

Benefits to consumersEnables consumers to shop or do Enables consumers to shop or do other transactions 24 hours a other transactions 24 hours a day, all year round from almost day, all year round from almost any locationany location

Provides consumers with more Provides consumers with more choiceschoices

Provides consumers with less Provides consumers with less expensive products and services expensive products and services by allowing them to shop in many by allowing them to shop in many places and conduct quick places and conduct quick comparisons comparisons – Not sure in every – Not sure in every casecase


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Benefits of ECBenefits of EC Allows quick delivery of products and Allows quick delivery of products and services (in some cases) especially services (in some cases) especially with digitized productswith digitized products

Consumers can receive relevant and Consumers can receive relevant and detailed information in seconds, detailed information in seconds, rather than in days or weeksrather than in days or weeks

Makes it possible to participate in Makes it possible to participate in virtual auctionsvirtual auctions

Allows consumers to interact with Allows consumers to interact with other consumers in electronic other consumers in electronic communities and exchange ideas as communities and exchange ideas as well as compare experiences well as compare experiences – – Tripadvisor.comTripadvisor.com

Facilitates competition, which results Facilitates competition, which results in substantial discountsin substantial discounts


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Benefits of EC Benefits of EC Benefits to society

Enables more individuals to work at Enables more individuals to work at home, and to do less traveling for home, and to do less traveling for shopping, resulting in less traffic on shopping, resulting in less traffic on the roads, and lower air pollutionthe roads, and lower air pollution

Allows some merchandise to be sold Allows some merchandise to be sold at lower prices, benefiting less at lower prices, benefiting less affluent peopleaffluent people

Enables people in Third World Enables people in Third World countries and rural areas to enjoy countries and rural areas to enjoy products and services which products and services which otherwise are not available to themotherwise are not available to them

Facilitates delivery of public services Facilitates delivery of public services at a reduced cost, increases at a reduced cost, increases effectiveness, and/or improves qualityeffectiveness, and/or improves quality


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The Limitations of ECThe Limitations of ECTechnical limitations

There is a lack of universally accepted There is a lack of universally accepted standards for quality, security, and reliabilitystandards for quality, security, and reliability

The telecommunications bandwidth is The telecommunications bandwidth is insufficientinsufficient

Software development tools are still evolvingSoftware development tools are still evolving

There are difficulties in integrating the There are difficulties in integrating the Internet and EC software with some existing Internet and EC software with some existing (especially legacy) applications and (especially legacy) applications and databases.databases.

Special Web servers in addition to the Special Web servers in addition to the network servers are needed (added cost).network servers are needed (added cost).

Internet accessibility is still expensive and/or Internet accessibility is still expensive and/or inconvenientinconvenient


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Brief History of E-Brief History of E-CommerceCommerce

Some major shifts from 70s till Some major shifts from 70s till nownow


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Brief History of ECBrief History of EC

EC applications first developed in the early 1970s

Electronic funds Electronic funds transfer (EFT)transfer (EFT)

Limited to:Large corporationsLarge corporations

Financial institutionsFinancial institutions

A few other daring A few other daring businessesbusinesses


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Brief History of EC Brief History of EC

Electronic data interchange (EDI)—electronic transfer of documents:

Purchase ordersPurchase orders

InvoicesInvoices

E-payments E-payments between firms doing between firms doing businessbusiness

Enlarged pool of participants to include:

ManufacturersManufacturers

RetailersRetailers

Service providersService providers


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Interorganizational systems (IOS)Stock tradingStock trading

Travel reservation systemsTravel reservation systems

Internet became more commercialized in the early 1990s

Almost all medium-and large-Almost all medium-and large-sized organization in the world sized organization in the world now has a Web sitenow has a Web site

Most large corporations have Most large corporations have comprehensive portalscomprehensive portals


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EC SuccessesPure onlinePure online

eBay

VeriSign

AOL

Checkpoint

Click-and-mortarClick-and-mortar

GE

IBM

Intel

Schwab

EC FailuresE-tailors began to E-tailors began to fail in 1999fail in 1999

This does not mean This does not mean that EC’s days are that EC’s days are numberednumbered

Large EC companies Large EC companies like Amazon.com like Amazon.com are expanding but are expanding but success or failure is success or failure is not certainnot certain


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The Future of ECThe Future of EC

Web 2.0Web 2.0The second-generation of Internet-The second-generation of Internet-

based services that let people based services that let people collaborate and share information collaborate and share information online in perceived new ways—such as online in perceived new ways—such as social networkingsocial networking sites, sites, wikiswikis, and , and communication toolscommunication tools


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Social and Business Social and Business NetworksNetworks

Social NetworksWeb sites that connect people with specified interests by providing free services such as photo presentation, e-mail, blogging, etc.

Business-oriented networks are social networks whose primary objective is to facilitate business


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The Concept of Digital The Concept of Digital EconomyEconomy

An IntroductionAn Introduction


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The Digital Revolution and The Digital Revolution and

the Economic Impact of the Economic Impact of ECEC

In the Digital Revolution the economy is based on digital technologies including:

Digital communication networksDigital communication networks

ComputersComputers

SoftwareSoftware

Other related information Other related information technologiestechnologies

Also called:Internet economyInternet economy

New economyNew economy

Web economyWeb economy


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the Economic Impact of the Economic Impact of EC EC

Digital networking and communication infrastructures provide a global platform where people and organizations:

InteractInteract

CommunicateCommunicate

CollaborateCollaborate

Search for informationSearch for information


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The global platform includes these characteristics

A vast array of digitizable A vast array of digitizable productsproducts

Consumers and firms conduct Consumers and firms conduct financial transactions digitallyfinancial transactions digitally

Microprocessors and networking Microprocessors and networking capabilities embedded in physical capabilities embedded in physical goodsgoods


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This convergence enables all types of information (data, audio, video, etc.) to be stored, processed, and transmitted over networks to many destinations worldwideWeb-based EC systems are accelerating the digital revolution by providing competitive advantage to organizations


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Contributions of EC Contributions of EC towards modern towards modern OrganizationsOrganizations

Types of Pressures and EC as a Types of Pressures and EC as a solutionsolution


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Major Business Pressures & Major Business Pressures & the Role of ECthe Role of EC


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Organizational Responses Organizational Responses

Supply chain improvementsHelp reduce supply chain delays, Help reduce supply chain delays, inventories and eliminate other inventories and eliminate other inefficienciesinefficiencies

Mass customization—production of large quantities of customized items

Business problem is how to Business problem is how to efficiently provide customizationefficiently provide customization

EC is an ideal facilitator of mass EC is an ideal facilitator of mass customization by enabling customization by enabling electronic ordering to reach the electronic ordering to reach the production facility in minutesproduction facility in minutes


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Putting It All Together Putting It All Together

The first step is to put in the right connective networks

The vast majority of EC is done on computers connected to:

InternetInternet

Intranet--An internal corporate or government Intranet--An internal corporate or government network that uses Internet tools, such as Web network that uses Internet tools, such as Web browsers, and Internet protocolsbrowsers, and Internet protocols

Extranet--A network that uses the Internet to Extranet--A network that uses the Internet to link multiple intranetslink multiple intranets


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Putting It All Together Putting It All Together

Major concern of today’s companies—how to transform themselves to take part in digital economy

Example:Toys, Inc.Uses intranet for internal Uses intranet for internal communications, collaboration, communications, collaboration, dissemination of informationdissemination of information

Networked to e-marketspaces and Networked to e-marketspaces and large corporationslarge corporations

Corporate portal for communication Corporate portal for communication and collaboration with business and collaboration with business partnerspartners


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EC Business ModelsEC Business Models

Revenue model

Description of how the company or an EC project will earn revenue

Value proposition

The benefits a company can derive from using EC


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EC Business ModelsEC Business ModelsFunctions of a Business Model

1.1. Articulate a Articulate a customer value propositioncustomer value proposition

2.2. Identify a Identify a market segment market segment

3.3. Define the venture’s specific Define the venture’s specific value chain value chain structurestructure

4.4. Estimate the Estimate the cost structure and profit potentialcost structure and profit potential

5.5. Describe the venture’s positioning within the Describe the venture’s positioning within the value network linking suppliers and customers value network linking suppliers and customers

6.6. Formulate the Formulate the venture’s competitive strategyventure’s competitive strategy


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The major revenue models are:

1.1. Sales Sales

2.2. Transaction feesTransaction fees

3.3. Subscription feesSubscription fees

4.4. Advertising feesAdvertising fees

5.5. Affiliate feesAffiliate fees

6.6. Other revenueOther revenue sourcessources


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Online direct marketing

Electronic tendering systems.

Name your own price

Find the best price

Affiliate marketing

Viral marketing

Group purchasing

Online auctions

Product and service customization

Electronic marketplaces and exchanges

Information brokers (informediaries)

Bartering

Deep discounting

Membership

Value-chain integrators

Value-chain service providers

Supply chain improvers

Social networks, communities, and blogging

Direct sale by manufacturers

Negotiation

Typical EC Business ModelsTypical EC Business Models


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EC Business ModelsEC Business Modelstendering (bidding) system

Model in which a buyer requests would-be sellers to submit bids; the lowest bidder wins

name-your-own-price model

Model in which a buyer sets the price he or she is willing to pay and invites sellers to supply the good or service at that price

affiliate marketing

An arrangement whereby a marketing partner (a business, an organization, or even an individual) refers consumers to the selling company’s Web site

viral marketing

Word-of-mouth marketing in which customers promote a product or service to friends or other people


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customization

Creation of a product or service according to the buyer’s specifications


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Managerial IssuesManagerial Issues● Is it real?● Why is B2B e-commerce so attractive?● There are so many EC failures—how can

one avoid them?● How do we transform our organization

into a digital one?● How can we exploit social/business

networking?● What should be my company’s strategy

toward EC?● What are the top challenges of EC?

Documents

© Farhan Mir 2014 IMS E-Commerce BBA (Hons) Course Overview & Introduction Lectures 1,2,3 Course Lecturer: Farhan Mir