Key Terms For Test 1

Key Terms for Test 1 post definition:

  1. Business model: Essential the overall plan of the business including a plan for making money, managing employees, etc
  2. Business plan: The written summery of the business model along with specifics, often including things like accounting statements, and market analysis.
  3. E-commerce business model: An E-Commerce business model is a business model for business with E-Commerce components. These are normally things like business to business, consumer to consumer, business to consumer, and government to citizen.
  4. Value proposition: This is an explanation of your target audience and why they will derive value from your product or service.
  5. Revenue model: A subset of a business model, the plan for generating revenue.
  6. Advertising revenue model: A revenue model wherein the revenue is generated from advertising.
  7. Subscription revenue model: (I’ve lost all pretense and am now citing wikipedia as a source) A revenue model wherein the revenue is generated from a recurring fee from customer receiving services or products.
  8. Transaction fee revenue model: A revenue model wherein revenue is generated when the customer somehow uses a service
  9. Sales revenue model: Where money is made when you sell something (I’m getting lazy)
  10. Affiliate revenue model: This is actually fairly complex, essentially, revenue is generated from a business when you direct customer’s to their site.
  11. Market opportunity: An occurrence wherein an monetary opportunity exists in a that has thus far has not been taken advantage of.
  12. Marketspace: A space online such as a website or a group of websites which often share traffic
  13. Competitive environment: It’s literally just an environment that is competitive that relates to business.
  14. Competitive advantage: An advantage that a company has in a competitive environment. (Again, self explanatory)
  15. Information asymmetry: Where a company has access  to different information than another company, normally either better or more information
  16. First-mover advantage: The advantage that occurs when a company moves first… Which means get to market first.
  17. Perfect market: It’s an economics term which occurs when several factors converge to make a market essentially perfectly balanced. It’s a complex term.
  18. Market strategy: The strategy a company uses to market
  19. Management team: The team that manages the company
  20. Seed capital: Money to start up
  21. Incubators: A program that requires you to apply for admission and then assists in the running of the business (by providing services)
  22. Angel investors: a group of people who are interested in investing in a company with either generally less money than venture capital investors
  23. Venture capital investors: A group of people interested in investing in a company and being on the board
  24. Crowdfunding: I’m tempted to just cite kickstarter as my source here, it’s when everyone gives a company money. I don’t understand how that works from a legal perspective (Is this revenue for the company?)
  25. E-tailer: Retail over the internet
  26. Portal: A source which collects and standardizes content
  27. Transaction broker: Normally a term which applies to real estate, a transaction broker is a party who facilitates the buying or selling of assets.
  28. E-distributor: A business that distributes digital goods such as music, television, e-books, etc
  29. E-procurement firm: A firm which facilitates trade between registered businesses
  30. Exchange:
  31. Industry consortia: My understanding of an industry consortia is that it essentially cuts out the middle man. I’m unsure of whether or not buyers have to be invited but sellers do.
  32. Private industrial networks: A network to facilitate transactions between companies
  33. Differentiation: It’s a term which as far as I can tell applies to e-commerce the same way that it applies to anything.
  34. Strategy of cost competition: Strategy as to how you will keep cost down and remain competitive. Maybe?
  35. Focus/market niche strategy: A marketing strategy that focus on a small group of people.
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