ISM 3013 ch.3 – Flashcards
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disruptive technology
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a new way of doing things that initially does not meet the needs of existing customers. Tend to open new markets and destroy old ones
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sustaining technology
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produces an improved product customers are eager to buy, such as a faster car or larger hard drive. Provide better, faster, cheaper products in established markets
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digital darwinism
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implies that organizations that cannot adapt to the new demands placed on them for surviving in the info age are doomed to extinction
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internet
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massive network that connects computers all over the world and allows them to communicate with one another
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world wide web
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provides access to Internet info thru documents including text, graphics, audio, and video files that use a special formatting language called HTML
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Hypertext markup language HTML
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: links documents allowing users to move from one to another simply by clicking on a hot spot or link
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Hypertext transport protocol HTTP
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the internet protocol web browsers use to request and display web pages using universal resource locators
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Universal resource locator URL
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the address of a file or resource on the web
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web 1.0
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term to refer to the WWW during its first few years of operation 1991-2003
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ecommerce
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the buying and selling of goods and services over the internet
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ebusiness
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includes ecommerce along with all activities related to internal and external business operations such as servicing customer accounts, collaborating wither partners and exchanging real-time information.
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paradigm shift
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occurs when a new radical form of business enters the market that reshapes the way companies and organizations behave
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information richness
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refers to depth and breadth of details contained in a piece of textual, graphic, audio or video information
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information reach
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measures the number of people a firm can communicate with all over the world
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long tail
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referring to the tail of a typical sales curve. This strategy demonstrates how niche products can have viable and profitable business models when selling via ebusiness
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intermediaries
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agents, software or businesses that provide a trading infrastructure to bring buyers and sellers together
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disintermediation
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occurs when a business sells directly to the customer online and cus out the intermediary. Essentially cutting out the middle man to connect the manufacturer or seller directly to the customer
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reintermediation
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steps are added to the value chin as new players find ways to add value to the business process. Adding the middle man back in.
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cybermediation
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the creation of new kinds of intermediaries that simply could not have existed before the advent of ebusiness, including comparison-shopping sites and bank account aggregation services.
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interactivity
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measures advertising effectiveness by counting visitor interactions with the target ad
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clickstream data
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how organizations observe the exact pattern of a consumers navigation through a site
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click through rate CTR
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percentage of times the ad is clicked
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stickiness
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average length of stay on a web page
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conversion rate
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percentage of visitors who become customers
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ebusiness model
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plan that details how a company creates, delivers and generates revenues on the internet
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Business 2 Business B2B
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applies to businesses buying from and selling to each other over the Internet (trillion dollar industry). Buyers and sellers are both organizations
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Business 2 consumers B2C
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applies to any business that sells its products or services directly to consumers online. Eshop, estore, etailer. Eg. Amazon.com or an extension of an existing store
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channel conflict
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stealing sales from yourself. The online website steals customers from the physical store
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Consumer 2 Business C2B
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applies to any customer who sells a product or service to a business on the Internet
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web 2.0
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a loose collection of info technologies and applications, and the web sites that use them. Characterized by qualities such as collaboration, sharing and free.
