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Intro To Business Management > E-Business Environment > Flashcards

E-Business Environment Flashcards

1
Q

Explain Market Opportunity

A
  • What marketspace do you intend to serve and what is its size?
  • Marketspace: Area of actual or potential commercial value in which company intends to operate
  • Realistic market opportunity: Defined by revenue potential in each market niche in which company hopes to compete
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2
Q

Explain the m-commerce E-Business Transaction type

A

When e-commerce is done in a wireless environment

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2
Q

How does E-Commerce change business

A

Porters 5 forces

Competition

Barriers to entry

Substitute products

Strength of suppliers

Strength of buyers

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2
Q

Define the portal business model

A

Search plus an integrated package of content and services, makes revenue through advertising

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2
Q

Define channels

A

Different methods by which goods can be distributed and sold

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2
Q

Define the 3 customer retention techniques

A

Customization

Customer co-production

Customer service

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2
Q

Define a customer relationship management system

A

Record all contact that customer has with firm

Generate customer profile available to everyone in firm with need to know the customer

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3
Q

Explain the difference between E-Commerce and E-Business.

A 
E-Commerce = External - New revenues
E-Business = E-Commerce as well as Internal - Cost Savings
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4
Q

Define the 3 levels of product / service

A
  • Core product
  • Actual product
  • Augmented product
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5
Q

Define marketing

A

Strategies and actions to establish relationship with consumer and encourage purchases

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6
Q

Name three transaction methods for E-Commerce.

A

WAN (Wide Area Network), VAN (Value Added Network) and LAN (Local Area Network)

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7
Q

Explain the c-commerce E-Business Tranasction type

A

In ccommerce, business partners collaborate electronically

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8
Q

Explain Competitive Environment

A
  • Who else occupies your intended marketspace?
  • Other companies selling similar products in the same marketspace - Includes both direct and indirect competitors
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9
Q

Explain Value Proposition

A
  • Why should the customer buy from you?
  • Personalization/customization
  • Reduction of product search, price discovery costs 
  • Facilitation of transactions by managing product delivery
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9
Q

Define Web 2.0

A

Allowing for a read / write web instead of a read web (increasing customer interaction)

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10
Q

Explain the B2B E-Business Tranasction type

A

Both the sellers and the buyers are business organizations

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11
Q

Define community provider business model

A

Provide online environment (social network) where people with similar interests can transact, share content, and communicate e.g. facebook

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12
Q

Name the five components of E-Commerce and explain them.

A
  • People: Sellers, buyers, intermediaries, information systems specialists and other employees, and any other participants
  • Public policy: Legal and other policy and regulating issues, such as privacy protection and taxation
  • Marketing and advertising: Like any other business, EC usually requires the support of marketing and advertising
  • Support services: Many services are needed to support EC. They range from payments to order delivery and content creation
  • Business partnerships: Joint ventures, e-marketplaces, and partnerships are some frequently occurring relationships in e-business
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13
Q

Define the 4 net pricing strategies

A

Price discrimination - different prices to different people

Free and freemium - can be used to build market awareness

Versioning - create multiple versions with different prices

Bundling - offering more products for one price

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13
Q

Define web transaction logs

A
  • Built into Web server software
  • Record user activity at Web site
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14
Q

Name 8 E-Business Transaction types

A
  • Business-to-business (B2B)
  • Collaborative commerce (c-commerce)
  • Business-to-consumers (B2C)
  • Consumers-to-businesses (C2B)
  • Consumer-to-consumer (C2C)
  • Intrabusiness (intraorganisational) commerce
  • Government-to-citizens (G2C)
  • Mobile commerce (m-commerce)
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15
Q

Define the market creator business model

A

Create digital environment where buyers and sellers can meet and transact

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16
Q

Define Cross-Selling

A

Trying to persuade a customer to buy an additonal product e.g. customers who have brought this buy….

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17
Q

Explain Market Strategy

A
  • How do you plan to promote your products or services to attract your target audience?
  • Details how a company intends to enter market and attract customers
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18
Define up-selling
Persuading the customer to buy a more expensive product e.g. you are £... away from free shipping
19
Define E-Commerce?
E-commerce is the use of electronic communications in business transactions to create relationships for value creation between organizations or individuals.
19
Define a business plan
Describes a firm’s business model
19
Explain Management Team
* What kind of backgrounds should the company’s leaders have?
19
Explain how to categorise a E-Commerce Business Model
* No correct way - can be done via technology used or sector located within
20
Define 4 ways to segment a market
* Behavioral * Demographic * Psychographic * Technical
22
Define Content Provider Business Model
Provides digital content from web - revenue via subscription or pay per download
23
Define a consumer behaviour model
Attempts to explain what consumers purchase and where, when, how much and why they buy to predict consumer decisions
24
Define E-Business?
The transformation of an organization’s processes to deliver additional customer value through the application of technologies.
26
Define Reverse Auctions
Have one buyer, usually an organization, that wants to buy a product or a service. Suppliers are invited to submit bids e.g. rail network
28
Define e-auctions
A market mechanism by which sellers place offers and buyers make sequential bids via electronic communication.
30
Define Service Provider business model
Provides service to consumers e.g. google maps
31
33
Name 4 parts of an Efrastructure
Efrastructure - is the architecture of B2B, primarily consisting of the following: * outsourcing of functions in the process of e-commerce, such as Web-hosting, security and customer care solutions * logistics - transportation, warehousing and distribution * content management software for the facilitation of Web site content management and delivery * application service providers - deployment, hosting and management of packaged software from a central facility
34
Define Forward auctions
Auctions where sellers place items at sites for auction and buyers bid continuously for the items
35
Define the E-distributor business model
E-version of a regular wholesaler
37
Explain the G2C E-Business Tranasction type
A government provides services to its citizens via EC technologies
38
Explain revenue model.
* How will the firm earn revenue, generate profits, and produce a superior return on invested capital? * Advertising revenue model * Subscription revenue model * Transaction fee revenue model * Sales revenue model * Affiliate revenue model
40
Explain Competitive Advantage
* What special advantages does your firm bring to the marketspace?
41
Explain the C2C E-Business Tranasction type
Individuals sell products or services to other individuals - EBay
42
Explain the B2C E-Business Tranasction type
The sellers are organizations, and the buyers are individuals. Second largest and the earliest form of e-commerce
43
Define the firm value webs model
Combining Firm Value Chains in a less linear fashion to produce a product collectively via the opportunites that the Internet provides.
44
Explain the Intrabusiness E-Business Tranasction type
An organization uses EC internally to improve its operations. A special case is known as B2E (business to its employees)
45
Define Business Strategy
Plan for achieving superior long-term returns on the capital invested in a business firm * Differentiation * Cost * Scope * Focus
46
Explain the C2B E-Business Tranasction type
Consumers make known a particular need for a product or service, and suppliers compete to provide it
47
Define channel conflict
When new venue for selling products or services threatens or destroys existing sales venues
48
Define Data mining
49
Explain Organisational Development
* What types of organizational structures within the firm are necessary to carry out the business plan? * Describes how firm will organize work - Typically, divided into functional departments - As company grows, hiring moves from generalists to specialists
50
Define E-Commerce business model
Set of planned activities designed to result in a profit in a marketplace using the unique qualities of the internet.
53
Define E-Markets.
Web sites where buyers and sellers interact with each other and conduct transactions.
54
Define tracking files
Allow users browsing activities to be tracked as they move from site
55
Define Firm Value Chains
Activities that a firm engages in to create final products from raw inputs
56
Define E-Procurement business model
Creates digital markets where participants transact for indirect goods
57
How do you create a customer relationship (4 items)
Viral marketing Blog marketing Social network marketing Mobile marketing
58
Define Clickstream Behaviour
* Number of days since last visit * Speed of clickstream behavior * Number of products viewed during last visit * Number of pages viewed * Supplying personal information * Number of days since last purchase * Number of past purchases
59
Define E-Tailer busniess model
Online version of traditional retailer, makes revenue through sales
60
Define a data warehouse
Collects firm’s transactional and customer data in single location for offline analysis by marketers and site managers

Intro To Business Management (5 decks)

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