CHP. 9 Flashcards
Social media (SM)
The use of information technology to support the sharing of content among networks of users.
Communities of practice
Groups of people related by a common interest. Also called communities.
Communities
Groups of people related by a common interest. Also called communities.
Social media information system (SMIS)
An information system that supports the sharing of content among networks of users.
Social media providers
Companies that provide platforms that enable the creation of social networks. Facebook, Twitter, LinkedIn, and Google are all social media providers.
Social networks
The social relationships among people with common interests.
Users
Individuals and organizations that use social media sites to build social relationships.
Viral hook
An inducement that causes someone to share an ad, link, file, picture, movie, or other resource with friends and associates over the Internet.
Content data
In social media systems, data and responses to data that are contributed by users and SM sponsors.
User-generated content (UGC)
Content on an organization’s social media presence contributed by nonemployee users.
Connection data
In social media systems, data about relationships.
Social CRM
CRM that includes social networking elements and gives the customer much more power and control in the customer/vendor relationship.
Crowdsourcing
A process through which users can provide customer support to one another or even participate in the creation of product specifications, designs, and complete products.
Business-to-consumer (B2C)
Ecommerce sales between a supplier and a retail customer (the consumer).
Business-to-business (B2B)
Ecommerce sales between companies.
Capital
Resources that are invested with the expectation of future gain.
Human capital
The investment in human knowledge and skills with the expectation of future gain.
Social capital
The investment in social relations with expectation of future returns in the marketplace.
Value of social capital
Value of social network that is determined by the number of relationships in a social network, the strength of those relationships, and the resources controlled by those related.
Influencer
An individual in a social network whose opinion can force a change in others’ behaviour and beliefs.
Strength of a relationship
In social media, the likelihood that a person or other organization in a relationship will do something that will benefit the organization.
Monetize
A social media company’s ability to make money from its application, service, or content.
Pay-per-click
Revenue model in which advertisers display ads to potential customers for free and pay only when the customer clicks.
Freemium
A revenue model offering a basic service for free and then charging a premium for upgrades or advanced features.
Ad-blocking software
Software that filters out advertising content.
Conversion rate
Measures the frequency with which someone who clicks on an ad makes a purchase, “likes” a site, or takes some other action desired by the advertiser.
social media policy
A statement that delineates employees’ rights and responsibilities when generating social media content.
Web 2.0
The term used to describe applications and platforms on the web.
Ecommerce
The buying and selling of goods and services over public and private computer networks.
Merchant companies
In ecommerce, companies that take title to the goods they sell. They buy goods and resell them.
Nonmerchant companies
Ecommerce companies that arrange for the purchase and sale of goods without ever owning or taking title to those goods.
Business-to-consumer (B2C)
Ecommerce sales between a supplier and a retail customer (the consumer).
Web storefront
In ecommerce, a web-based application that enables customers to enter and manage their orders.
Business-to-government (B2G)
Ecommerce sales between companies and governmental organizations.
Ecommerce auctions
Applications that match buyers and sellers by using an ecommerce version of a standard auction. This ecommerce application enables the auction company to offer goods for sale and to support a competitive bidding process.
Clearinghouses
Entities that provide goods and services at a stated price and arrange for the delivery of the goods, but never take title to the goods.
Electronic exchanges
Sites that facilitate the matching of buyers and sellers; the business process is similar to that of a stock exchange. Sellers offer goods at a given price through the electronic exchange, and buyers make offers to purchase over the same exchange. Price matches result in transactions from which the exchange takes a commission.
Disintermediation
Elimination of one or more middle layers in the supply chain.
Price elasticity
A measure of the sensitivity in demand to changes in price. It is the ratio of the percentage change in quantity divided by the percentage change in price.
Price conflict
Differences in the price of a good or service based on the way that it is obtained or delivered. For example, U.S. prices may be lower than Canadian prices even after adjusting for currency exchange rate, or online products may cost less than those sold in traditional stores. 286 See also Channel conflict and Showrooming.
Logistic expense
The costs associated with the coordination or movement, transportation, and storage of goods or services, particularly if the supply chain involves multiple parties or remote locations.
Customer service expense
The costs involved in supporting a customer’s purchase or use of a product or service.
Showrooming
A customer visits a store to examine or gain information about a product but then purchases the product online.
