ch9

Question 1

what is a social network

Answer 1

its the relationship among people with common interests

Question 2

what is connection data

Answer 2

data about relationships

Question 3

what is CRM

Answer 3

gives the customer more power and control in the customer vendor relationship

Question 4

what is capital

Answer 4

resources invested with the expectation of future gain

Question 5

what is human capital

Answer 5

using human resources

Question 6

social capital

Answer 6

using social resources

Question 7

how do you measure social capital (3)

Answer 7

by the amount of relationships and connections you have
strength of these relationships
resources these relationships bring

Question 8

merchant companies

Answer 8

buy goods and resell them ( take title so they own it)

Question 9

nonmerhcant companies

Answer 9

drop shipping

Question 10

clearinghouses

Answer 10

like dropshipping but for services aswell

Question 11

disintermediation

Answer 11

removal of middle layers in a supply chain

Question 12

price elasticity

Answer 12

how much the price of something effects the demand

Question 13

what is show rooming

Answer 13

customer goes to brick and motor stores to see the good and try it etc but then goes home and buys it online

Question 14

implications of ecommerce (3) (kind of negative)

Answer 14

must obtain the tech info-structure, organization can become overwhelmed, must follow tax codes and laws and must secure customer data

Question 15

cons with e commerce (6)

Answer 15

channel conflict
price conflict 
logistics expense 
customer service expense 
show rooming
taxation

Question 16

four ways social capital adds value

Answer 16

information
influence
social credentials
persoanl reinforcement

Question 17

main factor of web 2.0

Answer 17

revolves around user generated content

Question 18

software as a service ( SAAS)

Answer 18

mostly free for the users, business model relies on advertising

Question 19

what is pay per click

Answer 19

when advertises show ads for free and get paid when the customer clicks on the add

Question 20

what is freemium

Answer 20

providing a free service that is funded by ad revenue

Question 21

In​ Intel’s “Social Media​ Guidelines,” what does the concept of​ “protect” mean

Answer 21

It means to not tell​ secrets, to not slam the​ competition, and to not overshare.

Question 22

Starbucks is so concerned about the impact of social media on how business is done that it has created

Answer 22

a new company position called chief digital officer

Question 23

When the Internet is used to market products and services directly to private​ parties, the process is referred to as

Answer 23

b2c