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Online Goods and Services


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Audience profile
A description of the people your products are aimed at. It could include their age, the language they speak, their special needs, or any other characteristics relevant to the scenario you are given.
Backup
A copy of data that is made in case the original data is lost or damaged. The backup can be used to restore the original data.
Online banking
A service offered by banks that allows account holders to view their account information online and carry out various financial transactions.
Open source software
Software that is available to download free of charge, e.g. OpenOffice.org, which is a suite of applications.
Outsourcing
Using an external service provider to carry out a business function.
SSL (Secure Sockets Layer)
A method of encrypting data to provide security for communications over networks such as the Internet. TLS (Transport Layer Security) is a later version of SSL.
Streaming
Content is sent in compressed form over the Internet and displayed by the viewer in real time. When streaming video, a web user does not have to wait to download a file to play it. Instead, the media is sent in a continuous stream of data and is played as it arrives on a special player.
Third-party payment processor
A business that offers customers an alternative fast, safe method to pay for online goods and services.
VAT (Value Added Tax)
A charge added to most goods and services in the UK. The standard rate of VAT charged is currently 17.5%. However, the rate of VAT does sometimes change so it is important that it is easy to change this in your spreadsheet.
Viral marketing
A marketing strategy that encourages people to pass on a marketing message to their friends. It uses interesting and entertaining content that people will want to share. Viral marketing uses multimedia to make the message memorable.