Chapter 16 Business

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\”digital native\”
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anyone under the age of 32
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social media
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the online interactions that allow people and businesses to communicate and share ideas, personal information, and information about products and services
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more than ___ of online adults use some sort of social media platform
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two-thirds
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By using social media companies could share information about their ___ and ___ ad improve their customer service
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products, services
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the five most important reasons a business uses social media
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increase exposure of business, increase traffic, provide marketplace insight, generate ideas, develop loyal fans
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social content sites
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allow companies to create and share information about their products and services
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blog
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a web site that allows a company to share information in order to not only increase the customer’s knowledge abut its products and services, but also to build trust
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media sharing sites
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allow users to upload multimedia content including photos, videos, and podcasts
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podcasts
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digital audio or video files that people listen to or watch online on tablets, computers, MP3 players, or smartphones
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more than __ percent of consumers said that they trust online consumer opinion
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70
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social game
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a multiplayer, competitive, goal-orientated activity with defined rules of engagement and online connectivity among a community of players
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social media communities
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social networks based on the relationships among people
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forum
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an interactive version of a community bulletin board that focuses on threaded discussions
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wiki
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a collaborative online working space that enables members to contribute content that is then shareable with other people
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the whole purpose of social networks is to
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build communities and develop connections
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the top 4 social media sites
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facebook(92%), twitter(82%), linkedin(73%), blogs(61%)
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one of the most important reasons to listen to stakeholders is to
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determine whether there is a crisis brewing
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an important aspect of a company’s social media plan
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listening to people
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many companies are using social media to
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increase awareness and build their brand among customers
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millennials
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tech-savy digital natives born after 1980
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__% of U.S. companies with more than 100 employees are using social media tools for marketing
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80
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for small business the rate of social media use is close to __%
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40
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only __% of businesses selling to businesses use social media
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24
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social media marketing
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the utilization of social media technologies, channels, and software to create, communicate, deliver, and exchange offering that have value for an organization
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social media will account for __% of all online spending by 2016
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26
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companies also use social media to
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obtain sales leads and increase actual sales
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inbound marketing
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a marketing term that describes new ways of gaining attention and ultimately customers by creating content on a web site that pulls customers in
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online marketing is comprise of several areas
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online public relations, search engine optimization, search engine marketing, display advertising, e-mail marketing, content marketing
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crowdsourcing
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outsourcing tasks to a group of people in order to tap into the ideas of the crowd
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more than half of fortune 100 companies use ____ to recruit future employees
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linkedin
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steps to build a social media plan
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(1) listen to determine opportunities, (2) establish social media objectives, (3) segment and target the social customer, (4) select social media tools, (5) implement and integrate the plan
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objective
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for social media it is a specific statement about what a social media plan should accomplish (part of step 1)
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customer profile
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describes a typical consumer in terms of age, income, gender, ethnicity, etc.
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there are six types of individuals that use social media
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creators, critics, collectors, joiners, spectators, or inactives
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quantitative social media measurement
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using numerical measurements, such as counting the number of web site visitors, number of fans and followers, number of leads generated, and the number of new customers
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key performance indicators (KPIs)
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measurements that define and measure the progress of an organization toward achieving its objectives
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qualitative social media measurement
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the process of accessing the opinions and beliefs about a brand and primarily uses sentiment analysis to categorize what is being said about a company
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e-commerce
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another term for e-business
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sentiment analysis
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a measurement that uses technology to detect the moods, attitudes, or emotions of people who experience a social media activity
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factors for determining a customer’s sentiment value
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customer satisfaction score, issue resolution rate, resolution time
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e-business/electronic business
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the organized effort of individuals to produce and sell, for a profit, the products and services that satisfy society’s needs through the facilities available on the internet
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outsourcing
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the process of finding outside vendors and suppliers that provide professional help, parts, or materials at a lower cost
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revenue stream
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a source of revenue flowing into a firm
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intelligent information systems
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can help generate sales revenue for Internet firms such as amazon
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business model
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represents a group of common characteristics and methods of doing business to generate sales revenues and reduce expenses
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business-to-business (b2b) model
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a model used by firms that conduct business with other businesses
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the two types of b2b models
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(1) focuses more on facilitating sales transactions between businesses (2) more complex type of b2b model involving a company and its suppliers
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business-to-conumer (b2c) model
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a model used by firms that focuses on conducting business with individual consumers
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b2c firms often try to build
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long-term relationships with their customers
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b2b and b2c models are the most common business models for
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e-business
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americans comprise __% of all internet users
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11
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__% of the american population uses the internet
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77
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only __% of the world population currently uses facebook
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12
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cookie
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a small piece of software sent by a web site that tracks an individual’s internet use
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data mining
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the practice of searching through data records looking for useful information
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malware
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a general term that describes software designed to infiltrate a computer system without the user’s cpsemt
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male can include
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viruses, spyware, deceptive adware
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computer virus
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a software code designed to disrupt normal computer operations
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the most common computer crime that impacts both individuals and business users
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identity theft
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more than 11.6 ___ americans were victims of identity theft in just one year
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million
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cloud computing
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a type of computer usage in which services stored on the internet is provided to users on a temporary basis
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green IT
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a term used to describe all of a firm’s activities to support a healthy environment and sustain the planet

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