This slide discusses reasons why e-commerce has grown so quickly – because of the unique nature of the Internet and e-commerce, which are richer and more powerful than previous technology revolutions like radio and TV.
Ask students what the effects are of the four features listed on this slide.
Ubiquity: Marketplace removed from temporal, geographic locations to become “marketspace”. Enhanced customer convenience and reduced shopping costs
Global reach: Commerce enabled across cultural and national boundaries seamlessly and without modification. Marketspace includes, potentially, billions of consumers and millions of businesses worldwide.
Universal standards: Disparate computer systems easily communicate with each other. Lower market entry costs—costs merchants must pay to bring goods to market. Lower consumers’ search costs—effort required to find suitable products.
Richness: Possible to deliver rich messages with text, audio, and video simultaneously to large numbers of people. Video, audio, and text marketing messages can be integrated into single marketing message and consumer experience.