chapter 9 study set – Flashcards
Unlock all answers in this set
Unlock answersquestion
Name and describe four business trends shaping e-commerce today.
answer
1. Social Networking - this contributes to a massive online audience that is attractive to marketers. 2. Online Advertising - grows twice as fast as TV and print advertising 3. Online Newspapers and Traditional Media - have adopted to interactive models and some have made their service subscription-based. 4. Online Entertainment Business Models - They offer television, movies, music, sports, and eBooks in cooperation with the major copyright owners.
question
Name and describe three technology trends shaping e-commerce today.
answer
Social commerce - is the use of social networks (Facebook, Etsy, Ebay) in the context of e-commerce transactions. Mobile commerce - the use of wireless devices to conduct both business to consumer and business to business e-commerce transactions over the Internet. Local Commerce - Using GPS-enabled devices to provide location-specific services to consumers.
question
List the eight unique features of e-commerce.
answer
Ubiquity, Global Reach, Universal Standards, Richness, Interactivity, Information Density, Personalization/Customization , Social Technology
question
Ubiquity feature
answer
The Internet is available anywhere via mobile devices
question
Global reach feature
answer
It reaches across national boundaries around the earth.
question
Universal standards feature
answer
It has one set of Internet Standards.
question
Richness feature
answer
Video, audio, and text messages are possible.
question
Interactivity feature
answer
It works through interaction with the user.
question
Information density feature
answer
It reduces information costs and raises quality.
question
Personalization/Customization feature
answer
It allows personalized messages to be delivered to individuals and groups.
question
Social Technology feature
answer
User can generate content and engage in social networking.
question
Name 7 principal e-commerce business models.
answer
1.E-tailor, 2.Transaction Broker, 3.Market Creator, 4.Content Provider, 5.Community Provider, 6.Portal, 7.Service provider
question
Description and example of e-tailor
answer
Sells physical products directly to consumers, Amazon
question
Description and example of transaction broker
answer
Processes and charges for online sales transactions, expedia
question
Description and example of market creator
answer
Provides digital and interactive marketplace, eBay
question
Description and example of content provider
answer
Provides digital content, can be paid by consumer or advertiser, Itunes
question
Description and example of Community provider
answer
Provides online meeting place for communication and information, Facebook
question
Description and example of portal
answer
Provides initial point of entry to the Web, yahoo
question
Description and example of service provider
answer
Provides Web 2.0 apps, storage, and backups, Google apps
question
six e-commerce models
answer
1 - Advertising Revenue Model, 2 -Sales Revenue Model, 3 -Subscription Revenue Model, 4 - Free/Fremium Revenue Model, 5 - Transaction Fee Revenue Model, 6 - Affiliate Revenue Model
question
Advertising Revenue Model
answer
Revenue is generated by attracting a large audience of visitors who are exposed to advertisements.
question
sales revenue model
answer
Revenue is generated by selling goods, information, or services.
question
subscription revenue model
answer
Subscription fees are charged for access to some or all content.
question
Free/freemium revenue model
answer
Free basic content is offered, but premium content is charged.
question
Transaction fee revenue model
answer
A fee is charged for enabling or executing a transaction.
question
Affiliate revenue model
answer
Website visitors are sent to other websites in return for a fee or percentage of sales revenue.
question
two ways social networking and "the wisdom of crowds" help companies improve their marketing
answer
Crowdsourcing and prediction markets
question
What is crowdsourcing?
answer
using large Internet audiences to learn how to improve product offerings and increase customer value.
question
What happens in prediction markets?
answer
participants make bets on how a product or service will succeed.
question
Define the social graph
answer
is a map of all significant online social relationships, comparable to a social network describing offline relationships.
question
How is social graph used in e-commerce marketing.
answer
the products and services you buy will influence the decisions of your friends, and vice versa
question
Explain how Internet technology supports business-to-business electronic commerce.
answer
enables companies to locate suppliers, solicit bids, place orders, and track shipments in transit electronically.
question
four m-commerce services and applications
answer
Location-Based services, Banking and Financial services, Mobile Advertising and Retailing, Games and Entertainment
question
location-based services
answer
Uses GPS technology to identify your precise location
question
banking and financial services
answer
Allows customers to manage their financial accounts on a mobile device
question
Mobile Advertising and Retailing
answer
Identifying cell-phone users for location-based advertisements
question
Games and Entertainment
answer
Offering downloadable and streaming digital content
question
3 barriers to m-commerce.
answer
less Safety and security, lack of connectivity, and small screen size
question
Building a successful e-commerce requires what two things?
answer
clear understanding of business objectives and the right technology to achieve those objectives.
question
List four business objectives of a typical e-commerce Web site.
answer
1. Display Goods 2. Provide Content (product information) 3. Personalize/Customize Product 4. Execute a transaction payment
question
List four system functionalities of a typical e-commerce Web site.
answer
1. Digital catalog 2. Product Database 3. Customer on-site tracking 4. Shopping Cart/payment system
question
List and describe four information requirements of a typical e-commerce Web site.
answer
1. Dynamic text and graphics catalog 2. Product description, stocking numbers, and inventory levels 3. A site log for every customer visit 4. Secure credit card clearing and multiple payment options
question
What are the information requirements for a system
answer
the information elements that the system must produce in order to achieve the business objectives.
question
What are business objectives for a website?
answer
are simply capabilities that you would want your site to have.
question
System capabilites are what?
answer
types of information systems capabilities you will need to achieve your business objectives.
