Ecommerce
use of the internet to transact business
Ebusiness
digital enabling of transactions and processes within a firm
Tech building blocks
Internet, www, mobile platform
B2B
BUSINESS TO BUSINESS
B2C
BUSINESS TO CONSUMER
C2C
CONSUMER TO CONSUMER
OTHER ECOMMERCE TYPES
MOBILE, SOCIAL AND LOCCAL ECOMMERCE
1995 TO 2000
INVENTION OF ECOMMERCE, ILIMITED BANDWIDTH, DOT COM CRASH OF 2000
2001 TO 2006
CONSOLIDATION
2007 TO PRESENT
REINVENTION
evolution of the internet
innovation phase
institutionalisation phase
commercialisation phase
innovation phase
1961-1974
creation of fundamental building blocks
institutionalisation phase
1975-1995
large institution provide funding and legitimilisation
commercialisation phase
1995 - present
private corporations take over
packet switching
slices digital messages into packets, sends packets along different communication paths and reassembles them. uses routes and less expensive
Transmission control protocol
establishes connections among sending and receiving computers
handles assembly of packets at point of transmission
tcp and ip layers
network interface layer
internet layer
transport layer
application layer
IPV4
32 BIT # (HANDLES 4 BILLION)
IPV6
128 bit ( handle 1 quadrillion )
domain
IP address in natural language
Domain name system
allows numeric IP address to be expressed in natural language
uniform resource locator
address used by web browser to identify location of content on web
client / server computing
powerful personal computers connected in network with 1 or more servers
cloud computing model
infrastructure as a service
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software as a service
platform as a service
drawbacks cloud computing
security risk
shifts responsibility for storage and control to providers
IXPS
regional hubs where tier 1 sips physically connect with each
other and with tier 2 ISPs
Tier 2 ISPs provide tier 3 with internet access
IXPS
originally called network access points or metropolitan area exchange
campus / corporate area network
local area networks operating within a single organization
intranets
tcp /ip network located within a single organization for communications and processing
limitations of internet
bandwidth
quality of service
network architecture
wired internet
internet2 project
a consortium of 450+ institutes collaborating to facilitate revolutionary technologies
mark up languages
hyper text markup language (html)
eXtensible markup langue (xml)
web server software
enable comp to deliver webpages to clients on a network
web server
either web server software or physical server
- specialised server
web client
any computing device attached to the internet
capable of making http requests
business model
planned activities designed to result in a profit
business plan
describes business model
commence business model
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uses unique qualities of internet and web
elements of a business model
value proposition
revenue model
market opportunity
competitive environment
elements of a business model
competitive advantage
market strategy
organisational development
management team
value proposition
why customer should buy from you
revenue model
how will you earn money
market opportunity
what market space you serve and size
competitive environment
who else occupies intended space
competitive advantage
advantage firm bring to market space
market strategy
how are you going to promote your business
organisational development
types of organisational structures
management team
kind of backgrounds the company leaders have
private industrial network
digital network used to coordinate among firms engaged in business together.
industrial value chains
set of activities peformed by suppliers, manufactures, transporters,retailers that transform raw inputs into final products and services
industrial value chains
Leads to greater operational efficiencies, lowering cost, prices, adding value for customers
Firm Value Chains
Activities that a firm engages in to create final products from
raw inputs
• Each step adds value
Firm Value Webs
Networked business ecosystem
• Uses Internet technology to coordinate the value
chains of business partners
• Coordinates a firm’s suppliers with its own production needs using an
Internet-based supply chain management system
Business Strategy
Plan for achieving superior long-term returns on capital invested: that is, profit
Business strategy
Five generic strategies
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- Product/service differentiation
- Cost competition
- Scope
- Focus/marketniche - Customer intimacy
How E-commerce Changes Business
E-commerce changes industry structure by changing:
- Rivalry among existing competitors - Barriers to entry
- Threat of new substitute products - Strength of suppliers
- Bargaining power of buyers
• Industry structural analysis
B2B Models: Industry Consortia
Industry-owned vertical digital marketplace open to select
suppliers
more successful than exchanges
B2B Models: Exchanges
Independently owned vertical digital marketplace for direct
inputs
• Create powerful competition between suppliers
• Tend to force suppliers into powerful price competition; number of exchanges
has dropped dramatically
B2B Models: E-procurement
• Creates digital markets where participants transact for
indirect goods
- B2B service providers, SaaS and PaaS providers - Scale economies
B2B Models: E-distributor
Version of retail and wholesale store, MRO goods, and indirect
goods
• Owned by one company seeking to serve many customers
• Revenue model: Sales of goods
B2C Models: Service Provider
Online services
- Example: Google—Google Maps, Gmail, and so on
• Value proposition
- Valuable, convenient, time-saving, low-cost alternatives to
traditional service providers
B2C Models: Market Creator
Create digital environment where buyers and sellers can meet and
transact
- Examples: Priceline, eBay
- Revenue model: Transaction fees, fees to merchants for access
• On-demand service companies (sharing economy): platforms that allow people to
sell services
B2C Models: Transaction Broker
Process online transactions for consumers - Primary value proposition—saving time and money
• Revenue model: - Transaction fees
B2C Business Models: Portal
Search plus an integrated package of content and services
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• Revenue models:
- Advertising, referral fees, transaction fees, subscriptions for
premium services
B2C Models: Content Provider
Digital content on the Web: - News, music, video, text, artwork
• Revenue models:
- Use variety of models, including advertising, subscription; sales of
digital goods
- Key to success is typically owning the content
B2C Models: Community Provider
Provide online environment (social network) where people with
similar interests can transact, share content, and communicate
- Examples:Facebook,LinkedIn,Twitter,Pinterest • Revenue models:
- Typically hybrid, combining advertising, subscriptions, sales, transaction
fees, and so on
B2C Models: E-tailer
Online version of traditional retailer
• Revenue model: Sales
ORNAMENTAL WEBSITES
A FORM OF WEB PRESENCE WITH NO REAL MARKETING-BASED OBJECTIVES
INFORMATIONAL WEBSITES
USED IN THE SAME WAY AS OTHER FORMS OF MASS MEDIA
RELATIONAL WEBSITES
MAKE USE OF THE INTERNET’S UNIQUE ABILITY TO ALLOW INTERACTIVITY
CONTACT-LEVEL WEBSITES
LARGELY ABOUT PROMOTING A CORPORATE IMAGE AND PROVIDING GENERAL INFORMATION
INTERACT-LEVEL WEBSITES
THERE IS EVIDENCE OF TARGETING SPECIFIC AUDIENCES
TRANSACT-LEVEL WEBSITES
MOVE INTO THE DOMAIN OF ORDER HANDLING AND ONLINE PURCHASING OR JUST “SELLING STUFF OVER THE INTERNET”
RELATE-LEVEL WEBSITES
DEVELOP TWO-WAY CONSUMER RELATIONSHIPS WITH THE WEBSITE BEING INTEGRAL TO THE ORGANISATION’S SERVICES
87%
APPROXIMATELY … OF UK CONSUMERS HAVE BOUGHT AT LEAST ONE PRODUCT ONLINE IN THE LAST 12 MONTHS.
30%
ONLINE SALES IN THE UK INCREASED BY OVER …. IN 2017.
MULTI-CHANNEL
HYBRID, MULTICHANNEL OR OMNI-CHANNEL E-TAILERS
SELL BOTH ONLINE & OFFLINE
THEY AVOID DISADVANTAGES OF PURE CLICK E-TAILING (E.G. BUY ONLINE & PICK UP
IN STORE)
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M-COMMERCE
MOBILE HAS BEEN IDENTIFIED AS A CORE COMMS CHANNEL AS IT
REPRESENTS THE USERS ‘ME-TIME’
IT CAN TELL YOU MUCH MORE INFORMATION ABOUT A USER THAN ANY DESKTOP OR LAPTOP
LOCATION BASED MARKETING
is about knowing where every single one of your customers are in proximity to your stores and selling media addressed to who is there.
SEGMENTATION
shows approaches to grouping prospects and customers to deliver more relevant communications and offers and so give better response rates to these communications.
WAYS TO SEGEMENT
Customer profile characteristics (demographics) - the classic
traditional marketing approach.
Customer value current and future. Targeting the most valuable and most
growable segments in a matrix of current against future are the most common
approaches
Customer lifecycle groups. Since our knowledge of online marketing is so strong
there are great opportunities for targeting through behavioural email marketing
and website personalisation.
TYPES OF SEGMENTATION
VALUE, DEMOGRAPHICS,LIFESTYLES, BEHAVIOURSDIG
DIGITAL IMMAGRANTS
ADOPTERS OF THE WEB TECH
PREFER TO TALK IN PERSON
LOGICAL LERNERS
ONE TASK AT A TIME
DIGITAL NATIVES
BORN DURING OR AFTER THE DIGTAL AGE
ALWAYS ON A DEVICE
INTUITIVE LEARNERS
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MULTITASK
Customer Relationship Management
CRM refers to building one-to-one relationships with customers
that can drive value for the firm
This will mostly use marketing automation to assemble customer data, understand
customer needs and target accordingly
Database Marketing
Marketing is the use of databases to enhance marketing
productivity through more effective acquisition, retention and development of
customers
Can be viewed as a technological manifestation of Relationship Marketing
good database
A one-stop shop for all customer data
A basis for creating customer personas (lecture 10)
Where possible built on our own contacts / leads
Designed to produce live metrics (lecture 16)
Used to inform decision making
Regularly updated
Sensitive to customer needs
Compliant with Data Legislation….
General Data Protection Legislation
An EU wide piece of new legislation as of May 25th 2018
Poses serious challenges for marketers
Changes to Data Projection Act (1998
Database = Personalisation
A concept that has been applied to traditional forms of direct
marketing for decades
Is the mechanism by which data is used to tailor a touchpoint for any given
user
Does Personalisation Pay?
It increases conversion rates
It is beneficial to retention (e.g. provision of relevant offers)
It performs a utilitarian function for consumers - it helps them manage
marketer information
It also provides consumers with a reward for providing information
Consumer Attitudes to RM
70% percent of US consumers had a somewhat positive attitude
toward relationship marketing
39% percent of consumers would choose a company that does not engage in
relationship marketing over a company that does
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Consumers’ overall attitude toward relationship marketing impacts their likelihood to respond favourably to specific relationship marketing tactics.
Price-Based Behaviour
Big Middle theory suggests the existence of a core group of shoppers seeking a relatively consistent and more demanding bundle of retail attributes: broad and deep product mixes with consistently low Prices
Conversion Rate Optimisation
Conversion is evolving from meaning purely sales to the number
of anonymous visitors who become known records in your marketing database
CRO concerns increasing the proportion of your web visitors to complete their
intended task
Improving CRO
Call to Action (CTA): The primary button, link or other user
interface element that asks the user to take an action that leads to (or
towards) a conversion
Conversion Funnel: The primary pathway (or flow) of the user experience where
visitors complete a conversion (e.g. checkout)
Funnel Optimisation
Call to Action (CTA
The primary button, link or other user interface element that asks the user to take an action that leads to (or towards) a conversion
Conversion Funnel
The primary pathway (or flow) of the user experience where visitors complete a conversion (e.g. checkout)
Funnel Optimisation
Reducing friction in the form of wasted clicks, excess pages,
false starts, going to the wrong page, slow page loads, and other friction
points that cause users to give up.
Reducing cognitive overhead (anything that puts doubt and indecision into the
mind of the user, causing them to waver over whether to convert)
KPI
KEY PEFORMANCE INDICATOR
Sentiment Analysis
Sentiment analysis analyses and categorises social media text (mostly dynamic text) as being positive, negative, or neutral.
purpose of sentiment analysis
The primary purpose of sentiment analysis is to determine how your customers feel about a particular product, service, or ISSUE.
Types of Social Media Analytics
Predictive Analytics
Descriptive Analytics
Prescriptive Analytics
Prescriptive Analytics
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suggest the best action to take when handling a scenario
Descriptive Analytics
is focused on gathering and describing social media data in the form of reports, visualizations, and clustering to understand a business problem.
Predictive Analytics
involves analyzing large amounts of accumulated social media data to predict a future event
Client Marketing Database (Internal)
Previous purchase volume
Previous purchase frequency
Customer profitability
Credit / debit history
Customer’s share of organisation’s business
Buying practices and patterns
Reputation management
ORM is the practice of attempting to shape public perception of a person or organization by influencing online information about that entity.”
Aquisition
retention is more important than…
Doppelganger brand image
is a collection of disparaging images and stories about a brand
circulated in popular culture by a loosely organized network of anti-brand
activists, bloggers and opinion leaders.
This negative images compete with the brand owner’s intended image.
a brand community
is defined as any group of people that possess a common interest in a specific brand and create a parallel social universe rife with its own myths, values, rituals, vocabulary and hierarchy
impact of social crm
be felt when companies integrate ‘social insight’ into their CRM profiles
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widgets allows companies to implement it in the way that best fits their needs
RFM analysis
Used for marketing to customers
Always improves response and profits
Better than demographic models
Powerful segmentation method
Often linked to Lifetime Value Analysis (LT
RFM analysis
Recency, Frequency Monetary (RFM) Analysis
Calculating Lifetime Values
Three key pieces of data are needed:
The number of years a customer buys from a company
The percentage of customers remaining loyal to the company
The amount spent per annum.
lifetime values
are the sum of all future net incomes expected from a customer, translated into present-day terms.
LTV
Income is counted after direct costs have been taken into account
LTV
A direct cost is one that can be completely attributed to the production of specific goods or services
Transactional paradigm
Market segment
Transaction duration
Margin
Market share
Mass market broadcast
PASSIVE CONSUMERS
Relational paradigm
Individual customer
Lifetime
Lifetime value
Most valued customers and customer share
Dialogue and tailored communications
EMPOWERED CLIENTS
marketing automation
enables business to automate tasks in the marketing and sales
process to make the process to
deliver more relevant communications typically delivered as personalised emails
and website messages
Real-time analytics
helps to understand content consumption activities among website visitors as well as other aspects of the user experience on any given website that has been tagged with a … tool.
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SHORT TERM REPORTING
Audience analysis
involves conducting several research activities to reveal key information about what matters most to the audience you’re trying to reach.
Search insights
… tools are useful for mining search engine volume patterns across geography, industry categories, time, and properties to find actionable insights.
Acquisition
Understanding where your website visitors are coming from and what devices they are predominantly using.
Behavioural Analysis
focuses on quantifying visitors’ behaviour on a website.
Conversion analytics
is an intended action taken by the visitors to add business
value
while helping a company to achieve their business objectives.
Content audits
involve inventory and subsequent analysis of all content about a brand, product, or service (not just website content).
Predictive Analytics
involves analyzing large amounts of accumulated social media data to predict a future event
Prescriptive Analytics
suggest the best action to take when handling a scenario
Descriptive Analytics
is focused on gathering and describing social media data in the form of reports, visualizations, and clustering to understand a business problem.
types of social media analytics
Predictive, prescriptive and descriptive
Sentiment analysis
… analyses and categorises social media text (mostly dynamic text) as being positive, negative, or neutral.
purpose of sentiment analysis
determine how your customers feel about a particular product, service, or issue.
understanding business objectives
Five major steps:
- Systems analysis/planning
- Systems design
- Building the system - Testing
- Implementation
System functionalities
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List of information system capabilities needed to achieve
business
objectives
information requirements
Information elements that system must produce in order to achieve business objectives
System design specification
Description of main components of a system and their
relationship
to one another
Two components of system design
- Logical design
▪ Data flow diagrams, processing functions, databases
- Physical design
▪ Specifies actual physical, software components, models, and so on
System architecture
Arrangement of software, machinery, and tasks in an information
system needed to achieve a specific functionality
Two-tier
Web server and database server
Multi-tier
Web application servers
- Backend, legacy databases
Dynamic page generation
Contents stored in database and fetched when needed
Dynamic page generation
• Advantages
- Lowers menu costs
- Permits easy online market segmentation
- Enables cost-free price discrimination
- Enables content management system (CMS) - Design
- Content creation
Web application servers
Provide specific business functionality required for a website
- e.g. mail server, catalogue display, chat server - Type of middleware
▪ Isolate business applications from web servers and databases
- Single-function applications being replaced by integrated software tools that
combine all functionality needed for e-commerce site
vulnerability in e-commerce
Client
• Server
• Communications pipeline (Internet communications channels)
Denial of service attack
Flooding website with pings and page requests
- Overwhelm and can shut down site’s web servers
- Often accompanied by blackmail attempts
- Botnets
Distributed Denial of Service attack
- Uses hundreds or thousands of computers to attack target
network
- Can use devices from Internet of Things, mobile devices
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Encryption
- Transforms data into cipher text readable only by sender and
receiver
- Secures stored information and information transmission (Message integrity,
Nonrepudiation, Authentication, Confidentiality)
Limitations of PKI
• Doesnotprotectstorageofprivatekey
- PKI not effective against insiders, employees
- Protection of private keys by individuals may be haphazard
• No guarantee that verifying computer of merchant is secure •
CAsareunregulated,self-selectingorganizations
PUBLIC KEY INFRASTRUCTURE
PKI
Anti-virussoftware
• Anti-virussoftware
- Easiest and least expensive way to prevent threats to system integrity
- Requires daily updates
Security
It requires three main elements:
• special technology
• organizational rules and procedures
• laws and industry standards
• Digital cash
Based on algorithm that generates unique tokens that can be
used in “real” world
- Example: Bitcoin
virtual currencies
- Circulate within internal virtual world
- Example: Linden Dollars in Second Life, Facebook Credits - Typically used for
purchasing virtual goods
Process for analyzing ethical dilemmas
1. Identify and clearly describe the facts
2. Define the conflict or dilemma and identify the higher-order values involved
3. Identify the stakeholders
4. Identify the options that you can reasonably take
5. Identify the potential consequences of your options
Consumer Privacy Regulation: The FTC
• Guidelines not laws
• Informed consent: Opt-in and opt-out • “Do Not Track” mechanism
• Recent emphasis is to give consumer rights regarding collected personal
information
Three main types of protection
- Copyright
- Patent
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- Trademark law
Goal of intellectual property law
Balance two competing interests—public and private
copyright
Protects original forms of expression (not ideas) from being copied by others for a period of time
Net Neutrality
All Internet activities charged the same rate, regardless of bandwidth used
Taxation
• Non-local nature of Internet commerce complicates governance and jurisdiction issues
Evolution of B2B Commerce
• Automated order-entry systems - Seller-side solution; i.e. one
seller
• Electronic data interchange (EDI) - Buyer-side solution
- Hub-and-spokesystem - Serve vertical markets
• B2B e-commerce websites • Net marketplaces
• Private industrial networks
Benefits of B2B E-commerce
Lower administrative costs
• Lower search costs for buyers
• Reduced inventory costs
• Lower transaction costs
• Increased production flexibility by ensuring just-in-time parts delivery
• Improved quality of products by increasing cooperation among buyers and
sellers
Challenges of B2B E-commerce
• Decreased product cycle time
• Increased opportunities for collaboration
• Greater price transparency
• Increased visibility, real-time information sharing
• However, some risk is posed by increased globalization and consolidation
• lack real-time demand,production,and logistics data
Multi-tier Supply Chain
Complex series of transactions between firm and thousands of suppliers, supplying thousands of goods
Multi-tier Supply Chain
Challenges
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- Supply chain visibility
- Demand forecasting
- Production scheduling - Order management
- Logistics management
Upstream supply chain
Firm’ssuppliers, suppliers’suppliers,processes for managing relationships with them
Downstream supply chain
Organizations and processes responsible for delivering products
to customers
Legacy computer systems
Generally, older mainframe and minicomputer systems used to
manage key business processes within firm
Enterprise systems
- Corporate-wide
- Support/control all aspects of production, including ▪ Procurement
▪ Finance
▪ Human resources
Safety stock in SCM
Buffer for lack of flexibility in supply chain
Bullwhip effect
Information about product demand gets distorted as it passes from one entity to next across supply chain
Collaborative Commerce
Use of digital technologies for organizations to collaboratively
design, produce, and manage products through life cycles
• Moves focus from transactions to relationships among supply chain
participants
• It is like an interactive teleconference among members of supply chain
• Use of Internet technologies for rich communications environment
Information System
“A set of interrelated components that collect (or retrieve), process, store, and distribute information to support decision making and control in an organization”
Information System
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A three step process:
• Input: Raw data from the company/external environment are inserted in the system (e.g. age of all the employees)
• Processing: Raw data are converted into a meaningful form (e.g. the average age and the youngest and oldest age are calculated by the system).
• Output: The information is transferred so people or processes can use it (e.g. the results are shown on the screen of the computer).
Enterprise Resource Planning Systems
• Suite of integrated software modules and a common central
database
• Collects data from many divisions of firm for use in nearly all of firm’s
internal business activities
• Information entered in one process is immediately available for other
processes
Enterprise Software
Built around thousands of predefined business processes that reflect best practices
Business Value of Enterprise Systems
• Increase operational efficiency
• Provide firm-wide information to support decision
making
• Enable rapid responses to customer requests for information or products
• Include analytical tools to evaluate overall organizational performance
Important Dimensions of Knowledge
• Data, knowledge, and wisdom
• Tacit knowledge and explicit knowledge
Knowledge management
• Knowledge management
- Set of business processes developed in an organization to create,
store, transfer, and apply knowledge
Knowledge management value chain
Each stage adds value to raw data and information as they are
transformed into usable knowledge
types of knowledge in an enterprise
- Structured documents
Reports, presentations Formal rules
- Semistructured documents
E-mails, videos
- Unstructured, tacit knowledge
…
… of an organization’s business content is semistructured or unstructured
Locating and Sharing Expertise
Provide online directory of corporate experts in well-defined
knowledge domains
• Search tools enable employees to find appropriate expert in a company
• Social networking and social business tools for finding knowledge outside the
firm
Knowledge workers
Researchers, designers, architects, scientists, engineers who
create knowledge for the organization
- Three key roles
Keeping organization current in knowledge
Serving as internal consultants regarding their areas of expertise
Acting as change agents, evaluating, initiating, and promoting change projects
• Knowledge work systems
- Systems for knowledge workers to help create new knowledge and integrate that knowledge into business
Examples of KWS
• CAD (computer-aided design)
- Creation of engineering or architectural designs - 3D printing
• Virtual reality systems
- Simulate real-life environments
- 3D medical modeling for surgeons - Augmented reality (AR) systems
Intelligent Techniques: Expert Systems
Capture tacit knowledge in very specific and limited domain of
human expertise
• Capture knowledge as set of rules
• Typically perform limited tasks
- Diagnosing malfunctioning machine
- Determining whether to grant credit for loan
• Used for discrete, highly structured decision making
• Knowledge base: Set of hundreds or thousands of rules
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