3 Flashcards
Idea that companies that do not adapt to the internet age will become extinct
digital Darwinism
a new way of doing things that doesn’t initially does not meet the needs of existing customers
disruptive technology
produces an improved product consumers are eager to buy
sustainable technology
a massive network that connects computers all over the world and allows them to share information and data
internet
World Wide Web during the first few years of operation between 1991 and 2003
Web 1.0
buying of selling of goods and services over the internet
Ecommerce (only online transactions)
includes all ecommerce along with all activities related to internal and external business operations
Ebusiness
refers to the depth and breadth of details containied in a piece of textual, graphic, audio or video information
information richness
number of people a firm can communicate with all over the world
information reach
occurs when a company knows enough about customer likes and dislikes that it can fashion offers more likely to appeal to certain groups of consumers
Personalization
niche-market business sales strategy
long-tail
agents, software, or businesses that provide a trading infrastructure to bring buyers and sellers together
intermediaries
selling directly to consumers (removing intermediaries)
disintermediation
adding new steps to the value chain
reintermediation
refers to the creation of new intermediaries that would not have been possible before ecommerce
cybermediation
pattern of consumer movement through a website
clickstream
businesses buying and selling from each other over the internet
Business to Business
What percent of market share does B2B comprise?
80
Business that sells its products to consumers
B2C
any customer who sells a product or service to a business (priceline)
Consumer to Business
evualtes variables that search engines use to determine where a URL shows up
search engine ranking
keywords that advertisers choose to pay for and appear as sponsored links on google results page
adwords
helps companies manage the creation, storage, editing and publication of their website content
content management system
next generation of internet use, more mature, focuses on collaboration, sharing, and free
Web 2.0
What are the four characteristics of web 2.0
Open Source Content Sharing
User-contributed content
collaboration inside the org.
Collaboration outside the org.
consists of nonpropietery hardware and software based on publicly available known standards that allow third parties to create add-on products that plug-in or interoperate ith the system
Open System
contains instructions created by programmers to specificy what software should do
Source Code
Any propiety software licensed under exclusive legal right the copyright holder
closed source
any software whose source code is available for free to third parties
open source
content created by users for many uses
user-created content
online marketing concept in which the advertiser attempts to get by providing content in the context of the users experience in terms of its content, format, style, price, or placement.
Native Advertising
buyers posting feedback on sellers
reputation system
a set of tools that supports a team or groups by facilitating the share and flow of information
collaboration system
collab. and tapping into core knowledge of all employees, partners, and customers
Collective Intelligence
supports the capture, organization and dissemination of knowledge throughout the organization
Knowledge Management System
communication and responce happening close to the same time (IM, texting, chatting)
synchronous communication
website that rely on user participation or user-created content (Facebook)
Social Media
Application that connects people by matching profile information
social networking
maps group contacts (personal and professional) identifying who knows each other and who works togetner
Social Network Analysis
represents the interconnection of relationships within a social network
social graph
specific keywords or phrases incorporated into websites as a means of classification or taxonomy
Tags
collaborative activiity of marking shared online content with keywords or tags as a way to organize it
social tagging
similar to taxonomy except that crowdsourcing determines the tags or keyword based classification system
Folksonomy
allows users to share, organize, search, and manage bookmarks
social bookmarking
