Start-up- A newly formed business that is usually small. E-Tail- Electronic retail Multi-channel retailer- Uses several methods to sell products Brick-and-Mortar- Actual buildings such as stores and warehouses Clicks and Mortar- The use of both the internet and buildings such as stores and warehouses to conduct business Vocabulary
Importance of Virtual Business Internet has created a boom in new virtual businesses It makes it possible to communicate online with customers Most of these businesses are start- ups
The Basics of E-Commerce E-Commerce is a way people can buy products from different stores using the internet. This has changed the way business activities are conducted and how their products are sold. Examples are E-tail and E-Ticket
E-Tail E-Tail is the electronic retail E-Tailers sell products over the internet through E-Commerce Multi-Channel retailers sell products in stores, by mail, and online Brick-and-Mortar stores are actually buildings or warehouses Click-and-Mortar operations are businesses that use the internet as well as actual buildings E-Commerce makes it easier and cheaper to send catalogs of e- tailers products to customers
Advantages of E-Tailers Convenience-You can shop at home, 24 hours a day Choices-more companies, Web sites such as shopping. COM allows customers to compare products and pricesWeb sites such as shopping. COM allows customers to compare products and prices
Disadvantages of E-Tailers Buying power-Easy to overspend online. You can order things by mistake Additional charges-Things are delivered by mail, in which you have to pay shipping charges and takes Immediacy-You have to wait for products to be delivered Relying on Observation-Online buying requires you to rely on pictures or descriptions, instead of seeing and trying products
E-Tickets 70% of travelers in U.S. shop for airline tickets online They are cheaper and allow you to compare offers and prices The airlines could loose your e- tickets in their computer Travelers can use self-service check in, and avoid some of the lines in crowded terminals
Science and Technology Trends At the 2006 winter Olympic games a material called d3O was used to protect Canadian and U.S. skiers from being injured on the slalom runs. If the skiers were to crash it would harden instantly so they wouldn’t be hurt. Competitive skiers love it. Scientist Dr. Phil Green was the inspiration for the d3O product.