ITM 102 Chapter Notes - Chapter 10: Netscape, E-Commerce, Social Commerce

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 102
• Professor: Shikui Wu

Document Summary

Chapter 10 e-commerce: digital market and digital goods. Three key words for understanding e-commerce are social, mobile, and local. E-commerce refers to the use of the internet and the web to transact business; it is digitally enabled commercial transactions between organizations and individuals. Began in 1995 when one of the first internet portals, netscape. com, accepted the first ads from major corporations and popularized the idea that the web could be used as a new medium for advertising and sales. Why is e-commerce different: the internet and e-commerce technologies are much richer and more powerful than previous technology revolutions like radio, television, and the telephone, the features of e-commerce are: Reduces transaction costs costs of participating in a market. Potential market size for e-commerce merchants = world population. Technical standards are universal because they use the internet any computer can be linked. Lowers market entry costs merchant costs to bring goods to market. Lowers search costs effort to find suitable products.