Cory Strange

Chapter 9 Discussion Questions
E-commerce: Digital Markets, Digital Goods

1. Discuss how the features of ubiquity, universal standards and information richness make e-commerce different from traditional retailing efforts. * With ubiquity e-commerce becomes available all the time compared to traditional retailing efforts that have limited hours and limited mobility. E-commerce is very simple to use and understand thanks to universal standards. Information richness is the how complex a Web site can be, and the content that is on the site. * 2. Describe how the Internet changes information asymmetry in favor of consumers versus sellers. * The internet allows consumers to compare prices from many different sellers to get the lowest price. Consumers can also access information on products and services much faster, and how much they cost. * 3. How can businesses use the “wisdom of crowds” to improve their products or services.
They can use the knowledge of several people instead of just a couple. They can use the input to update their products and create new ones to sell. With improvement and additions a business should be able to profit. Also by listening to their customers they will develop a relationship with them which, in turn, will allow them to retain their customer’s business. * 4. What is “m-commerce”? * M-commerce is the use of handheld wireless devices for purchasing goods and services from any location. Both business-to-business and business-to-consumer e-commerce transactions can take place using m-commerce technology. * 5.