ENTREP (pg. 4-6)

• A variant of commerce in which goods are sold electronically via the Internet

  E-commerce
• Describes any business or commercial transaction that includes the transfer of financial information over the internet

  E-commerce
• Allows individual consumers to exchange value for goods and services with little to no barriers

  E-commerce
• Most common business model

  Business to Consumer (B2C)
• sell to their end user

  B2C
• The decision making process for _____ purchase is short especially for items that have a lower value

  B2C
• generally have a longer sales cycle, but higher order value and more recurring purchases

  BUSINESS TO BUSINESS (B2B)
• BUSINESS sell its product or service to another business

  B2B
• allows individual to sell goods and services to companies

  CONSUMER TO BUSINESS (C2B)
• competitive edge is in pricing for goods and services. this approach gives consumers the power to name their price or have businesses directly compete to meet their needs

  CONSUMER TO BUSINESS (C2B)
• also called an online marketplace, connects consumers to exchange goods and services and typically make their money by charging transaction or listing fees

  CONSUMER TO CONSUMER (C2C)
• includes market research, advertising, selling, and delivering products to consumers or other businesses

  marketing
• refers to activities a company undertakes to promote the buying or selling of a product or service

  marketing
• it is describes as the "art of telling stories so enthralling that people lose track of their wallets"

  marketing
• on of the primary components of business management and commerce

  marketing
• seeks to match a company's products and services to customers who want access to those products

  Marketing
• matching products to customers ultimately ensures ___

  profitability
• refers to a business's overall game plan for reaching prospective consumers and turning them into customers of their products and services

  Marketing Strategy
• contains the company's value proposition, key brand messaging, data on target customer demographics, and other high-level elements

  Marketing Strategy
• refers to an item the business plans to offer to customers

  Product
• refers to how much the company will sell the product ofr

  Price
• companies must consider the unit cost price, marketing costs, and distribution expenses

  price
• companies must also consider the price of competing products in the marketplace and whether their proposed price point is sufficient to represent a reasonable alternative for consumers

  Price
• refers to the distribution of the product

  Place
• key considerations include whether the company will sell the product through a physical storefront, online, or through both distribution channels

  Place
• the integrated marketing communications campaign

  Promotion
• includes a variety of activities such as advertising, selling, sales promotions, public relations, direct marketing, sponsorship, and guerilla marketing

  promotion
• should revolve around the company's value proposition, which communicates to consumers what the company stands for, how it operates, and why it deserves their business

  Clear Marketing Strategy
• This provides marketing teams with a template that should inform their initiatives across all of the company's products and services

  Clear Marketing Strategy