Most of you have heard the term "E-Commerce," but what exactly is it? The purpose of this group presentation is to provide you with a few definitions and an overview of the concept before each member of the group offers an in-depth analysis of the various aspects of E-Commerce.
Definitions of E-Commerce:New Media: Terry Flew defines electronic commerce as "economic transactions in the marketplace that draw upon the capabilities of ICTs and communications networks" (140).
Web Studies: Gauntlett and Horsley define electronic commerce as "money-making business on the internet" (289).
Wikipedia: electronic commerce consists primarily of the distributing, buying, selling, marketing, and servicing of products or services over electronic systems such as the Internet and other computer networks.
Although these explanations seem fairly simple, electronic commerce itself is decidely less so. Let's take a brief look at what's involved:
Today's global economy can be described as one in transition to a "knowledge economy." As Internet companies continue to expand, they continue to consider the use of knowledge to produce economic benefits. E-commerce, is the fastest growing segment of our economy. A number of mergers have taken place in order for Internet and media companies to stay ahead of their competitors. Traditional, or "bricks-and-mortar companies," have developed websites designed to retail their goods and there is a growing trend for these traditional retailers to merge with or buy Internet companies in an effort to keep up with online competition.
Whitney's personal blog on Tuesday will explore the world of e-commerce by examining a couple of the mergers and acquisitions that have taken place over the last few years. There are more than 694 million Internet users so the online marketplace could certainly be considered a prominent marketplace of the future and some market experts would say that globalization of products, staying ahead of the curve with information and connectivity have contributed to the fact that goods and services can be developed, bought, sold, and in many cases even delivered over electronic networks. So, accordingly, we will also explore factors that make online companies successful.
The impact that e-commerce has had on business is particularly evident in the music, film, and video game industries. Angelia's personal blog will explore the positive and negative impacts that e-commerce has had on these markets and in an effort to prepare for her presentation, she encourages you to visit the following websites:
* Read all about your favorite music artists and download their music for free at
www.mp3.com* Subscribe to Napster and listen to over 2 million songs that you can also share with your friends.
www.napster.com* Visit
www.youtube.com and search for a message from Chad and Steve, the creators of YouTube. Log in with the username: NewMediaBusiness and the password: Hollins. Direct link:
http://www.youtube.com/watch?v=QCVxQ_3Ejkg* Watch gameplay movies for games such as "Tekken: Dark Resurrection" at
www.gamespot.com* Or if you're looking for something a little less violent, perhaps for your child, visit
www.disney.com/disneychannel/gamesIn 2003, e-commerce generated sales worth 12.2 billion dollars and that number is continuing to increase each year. Some of the most lucrative online markets are those of Internet dating and pornography which accounts for more than 10% of all Internet-generated earnings. These industries are omnipresent on the Internet and Kim's personal blog will explore the ins and outs of these businesses, why they have become so successful, and how they have affected social relationships in the "real world."
We hope that you will enjoy reading our individual blogs which will be ready for your comments on Tuesday. In the meantime, check out
www.online-commerce.com for a tutorial that will walk you through the process of creating your own online business. While doing so, consider the future of e-commerce: are you aware of any untapped markets or services that aren't currently available online?
Thanks for reading our group blog,
Kim, Angelia, and Whitney
