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E-commerce: Digital Markets, Digital Goods - Coggle Diagram

- - - - – Marketspace is virtual
        – Transaction costs reduced
    - - – Transactions cross cultural and national boundaries
    - - – One set of technology standards: Internet standards
    - - – Supports video, audio, and text messages
    - - – Greater price and cost transparency
        – Enables price discrimination
    - - – Technology permits modification of messages, goods
    - - Promotes user content generation and social
        networking
- - - - – Seeks to leverage individuals’ influence over others
      - – Targeting a social network of people sharing interests
      - and advice
      - – Facebook’s “Like” button
      - – Social networks have huge audiences
- - - - – Developing clear understanding of business
      - objectives
      - – Knowing how to choose the right technology to
      - achieve those objectives