Ecommerce Fundamentals Review
This module discussed the definition of e-commerce and shown the advantages and disadvantages associated with moving toward such a system.
You also encountered key issues that must be addressed to ensure that e-commerce is a success. Finally, you saw why e-commerce is a growing area in which businesses should establish a presence. Now that you have completed this module, you should be able to:
- Define e-commerce
- Differentiate between electronic and traditional commerce
- Identify salient issues related to e-commerce
- Discuss the advantages of e-commerce
Key Terms and Concepts
- E-Commerce: commercial transactions conducted electronically on the Internet.
- Early mover advantage: In marketing strategy, first-mover advantage, or FMA, is the advantage gained by the initial ("first-moving") significant occupant of a market segment. It may be also referred to as technological eadership.
- Extranet: an intranet that can be partially accessed by authorized outside users, enabling businesses to exchange information over the Internet securely.
- Intra-company commerce: Commerce that takes place among two or more entities that exist within one company resulting in an internal accounting of the transaction. Not to be confused with intercompany trade that takes place between
two or more internal entities resulting in a legal transfer of prices.
- Intranet: a local or restricted communications network, especially a private network created using World Wide Web software
- Supply chain management: (SCM) Supply chain management is the management of the flow of goods and services. It includes the movement and storage of raw materials, work-in-process inventory, and finished goods from point of origin to point of consumption.
- Web storefront: an electronic store on the Internet that gives information about the store, its products, and safe method of payment
Basic Webstore Integration Benefits:
- Grow Revenue: reach new customers and better serve existing ones;
- Connect Online and Offline Operations: integrate orders, customers and inventory across operations;
- Streamline Processes for Improved Efficiency: create a centralized system for order fulfillment and product management;
- Eliminate manual and duplicate entry of your online orders.
Replicated Feature detectors
There is quite a lot of confusion in the literature about what replicated feature detectors are actually achieving.
Many people claim they are achieving translation invariance and that is not true. Well at least it is not true in the activities of the neurons. If you look at the activities, what replication features achieve is equivariance not invariance.
An example should make that clear.
Ecommerce Fundamentals- Quiz
Click the Quiz link below to review your knowledge of e-commerce fundamentals.
Ecommerce Fundamentals - Quiz
In the next module, more about e-commerce and business models will be discussed.