1.

Online Marketplace

: A platform where multiple vendors can sell their products or services to consumers.

7.

Search Engine Optimization (SEO)

: Techniques employed to increase a website's visibility and ranking on search engine results pages.

2.

Electronic Data Interchange (EDI)

: The electronic exchange of business documents, such as purchase orders and invoices, between trading partners.

1.

Supply Chain Management (SCM)

: The oversight of materials, information, and finances as they move from supplier to manufacturer to wholesaler to retailer to consumer.

4.

Vendor Management System (VMS)

: Software that facilitates the management of supplier relationships, including vendor selection, performance evaluation, and contract compliance.

5.

Conversion Rate

: The percentage of website visitors who complete a desired action, such as making a purchase.

3.

Payment Gateway

: A service provider that facilitates online transactions by authorizing payment processing for ecommerce merchants.

7.

Request for Proposal (RFP)

: A document issued by a buyer to potential suppliers, inviting them to submit proposals for fulfilling a specific business need or requirement.

9.

AccountBased Marketing (ABM)

: A strategic approach to business marketing that focuses on identifying and targeting specific accounts deemed most valuable.

In the vast realm of ecommerce, understanding the terminology is essential for effective communication and operation. Ecommerce can be broadly categorized into two main types: BusinesstoConsumer (B2C) and BusinesstoBusiness (B2B). Here's a comprehensive breakdown of key terms associated with each category:

BusinesstoBusiness (B2B) Ecommerce Terms:

BusinesstoConsumer (B2C) Ecommerce Terms:

10.

Customization

: Tailoring products or services to meet the unique needs and preferences of individual business clients.

By familiarizing yourself with these key terms, you can navigate the dynamic landscape of ecommerce more effectively, whether you're operating in a B2C or B2B capacity. Embracing these concepts empowers businesses to optimize their strategies, enhance customer satisfaction, and drive sustainable growth in the digital marketplace.

Understanding Key Terms in Ecommerce: Classifying Ecommerce Terminology

6.

User Experience (UX)

: The overall experience of a person using a website or application, encompassing usability, accessibility, and design aesthetics.

4.

Customer Relationship Management (CRM)

: Strategies and technologies used to manage interactions with current and potential customers.

8.

Product Recommendations

: Suggestions provided to online shoppers based on their browsing history, purchase behavior, or demographic information.

6.

Net Payment Terms

: Payment arrangements specifying the number of days within which invoices must be settled after goods or services are delivered.

8.

Inventory Management

: The supervision of stocked goods, including ordering, storage, and tracking inventory levels.

3.

Procurement

: The process of acquiring goods or services, typically involving requests for proposals, negotiations, and contracts.

2.

Shopping Cart

: Software that allows online shoppers to accumulate selected items for purchase during their browsing session.

9.

Abandoned Cart

: When a customer adds items to their shopping cart but leaves the website without completing the purchase.

10.

Responsive Design

: Website design that adjusts dynamically to provide optimal viewing and interaction experiences across various devices and screen sizes.

5.

Bulk Discount

: A pricing incentive offered to buyers who purchase large quantities of goods or services.

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