Key Terms for Test 1

  1. Business model: Set of planned activities designed to result in a profit in a marketplace.
  2. Business plan: Describes a firm’s business model.
  3. E-commerce business model: Users/leverages unique qualities of internet and web .
  4. Value proposition: A business or marketing statement that summarizes why a consumer should buy a product or use a service.
  5. Revenue model: A description of how a business will earn income, produce profits, and generate a higher than average return on investment.
  6. Advertising revenue model: The way most websites make money. When they display ads on their site, they earn revenue. The more visitors they can get to their site, the more they earn.
  7. Subscription revenue model: Subscribers pay a fee and accept some level of advertising.
  8. Transaction fee revenue model: fee is charged based on number or size of transactions processed.
  9. Sales revenue model: Wholesalers and retailers of goods and services sell their products online. The main benefits for the customer are the convenience, time savings, fast information etc.
  10. Affiliate revenue model: ecommerce business model that enables a firm to generate revenue streams on hundreds of items without carrying inventories, managing orders, processing payments, or handling packaging, and shipping.
  11. Market opportunity: What marketspace do you intend to serve and what is its size?
  12. Marketspace: Area of actual or potential commercial value in which company intends to operate
  13. Competitive environment: Who else occupies your intended marketspace?
  14. Competitive advantage: What special advantages does your firm bring to the marketspace?
  15. Information asymmetry: Condition in which at least some relevant information is known to some but not all parties involved
  16. First-mover advantage: A form of competitive advantage that a company earns by being the first to enter a specific market or industry.
  17. Perfect market: A market in which buyers and sellers have complete information about a particular product and it is easy to compare prices of products because they are the same as each other etc
  18. Market strategy
  19. Management team
  20. Seed capital
  21. Incubators
  22. Angel investors
  23. Venture capital investors
  24. Crowdfunding
  25. E-tailer
  26. Portal
  27. Transaction broker
  28. E-distributor
  29. E-procurement firm
  30. Exchange
  31. Industry consortia
  32. Private industrial networks
  33. Differentiation
  34. Strategy of cost competition
  35. Focus/market niche strategy
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