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E-commerce: digital markets, digital goods (What are the unique features…

- - - - Marketing in this new period is based on firms engaging in multiple online conversations with their customers
    - - Traditional online marketing (browser-based, search and display ads, e-mail and games) still constitutes the majority (65%), of all online marketing but it's growing much more slowly than social-mobile-local marketing
  - - - Global reach
        
        E-commerce technology permits commercial transactions to cross cultural and national boundaries
      - Universal standards
        
        There is one set of technology standards, namely internet standards
      - Richness
        
        Complexity and content of a message
      - Interactivity
        
        Technology works through interaction with the user
      - Information density
        
        Technology reduces informations costs and raises quality
      - Personalization/customization
        
        Merchants can target their marketing messages to specific individuals by adjusting the message
      - Social technology: user content generation and social networking
      - Ubiquity
        
        To shop from desktop, anywhere using smartphones. This result is called marketplace.
        
        Reduces transaction costs
      - Social technology
        
        Technology supports content generation and social networking
  - - - Goods that can be delivered over a digital network
    - - Exists when one party in a transaction has more information that is important for the transaction rater than the other party
- - - - Retailing products and services to individual shoppers
    - - Sales of goods and services amoung businesses
    - - Consumers selling directly to consumers
  - - - Sells physical products directly to consumers or to individual businesses
    - - Creates revenue by providing digital content. The content may be payed or not.
    - - Saves users money and time by processing online sales transactions and generating a fee each time a transaction occurs
    - - Provides a digital environment for transaction to happen
    - - Provides web 2.0 applications (photo sharing, video sharing, etc)
    - - Provides an online metting place where people with same interests can communicate and find usefull information
  - - - A website generates revenue by attracting a large audience of visitors
    - - Companies drive revenue by selling goods, information, or services to customers
    - - Subscription fees
    - - Firms offer basic services or content for free, while charging a premium for advanced or special features
    - - A company receives a fee for enabling or executing a transaction
    - - Websites send visitors to other websites in return for a referral fee or percentage of the revenue
- - - - Large firm using a secure website to link their suppliers and other key business partners
- - - - Creating sites where thousands of people can interact offers business firms new ways to market and advertise and discover who likes their products
    - - Newsfeed
      - Timelines
      - Collaborative shopping
      - Network notification
      - Social reach