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Business LibreTexts

10.2: Key terms and concepts

  • Page ID
    24915
  • Table 10.2.1
    Term Definition
    eCommerce The buying and selling of products and services, including funds and data, electronically.
    B2C Business to consumer, where a business sells products or services directly to the consumer.
    B2B Business to business, where a business sells products or services to another business, such as the relationship between manufacturers and distributors or retailers.
    C2C Consumer to consumer, where consumers sell products directly to other consumers.
    C2B Consumer to business, where consumers sell products to business, such as freelance services.
    Cross channel commerce Strategic maximization of customer relationships beyond the initial engagement channel.
    m-commerce Mobile commerce, the use of wireless devices to conduct commercial transaction online.
    Multi-channel commerce An online purchase experience that involves multiple channels, such as social media, company website, user reviews, in-store, traditional media and apps.
    Omnichannel Retailing strategy that delivers a seamless customer experience through all available shopping channels.
    Payment gateway eCommerce service that processes online payment for purchases through online stores.
    Social commerce Subset of eCommerce that involves social media and online media that supports social interaction, where user contributions assist in online trade of products.