ITM 100 Chapter Notes - Chapter 13: Micropayment, Web Banner, Electronic Billing

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 100
• Professor: Jim Tam

Document Summary

E-commerce refers to the use of the internet and the web to transact business. Rapid growth in e-commerce in the early years created a market. Growth in the internet population has spurred growth in e-commerce. Fastest-growing form of retail trade in north america, europe, and asia. Traditional commerce, a marketplace is a physical place. Marketplace: a marketplace extended beyond traditional boundaries and removed from a temporal and geographic location. From a consumer point of view, ubiquity reduces transaction costs- the costs of participating in a market. More conveniently and cost-effectively than traditional commerce. Traditional commerce technologies differ from one nation to the next. Lowers market entry costs the cost merchants pay to bring goods into market. For consumers, reduces search costs effort required to find suitable products. Traditional markets, national sales forces, and small retail stores have great richness. Richness: complexity and content of a message. Richness makes them powerful selling or commercial environments.