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College > Ecommerce Midterm > Flashcards

Ecommerce Midterm Flashcards

1
Q

Use of Internet to transact business
Includes Web, mobile browsers and apps

changing money

A

E-Commerce

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2
Q

Digital enabling of transactions and processes within a firm, involving information systems under firm’s control
Does not include commercial transactions involving an exchange of value across organizational boundaries

help with the transaction but not the actual business, where the money changes hands

A

E-Buisiness

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3
Q

any disparity in relevant market information among parties in a transaction

A

Information assymmetry

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4
Q

8 unique features of e-commerce tech

A 
Ubiquity
Global reach
Universal standards
Richness
Interactivity
Information density
Personalization/Customization
Social technologies
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5
Q

It is everywhere, smartphones-

A

Ubiquity

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6
Q

Can reach more places, more countries from one laptop

A

Global reach

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7
Q

Not everyone has to speak the same language

A

Universal standards

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8
Q

quality is much better, we know more before making decisions

A

(Information) Richness

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9
Q

can talk to you specifically, engaging with you often,

A

Interactivity

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10
Q

how much there is, there is more info available

A

Information density

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11
Q

Can be tailored to them with cookies, greet them by name

A

Personalization/Customization

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12
Q

Social media

A

Social technologies

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13
Q

Major types of e-commerce

A

B2C/B2B/C2C
Mobile e-commerce
Social e-commerce
Local e-commerce

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14
Q

displacement of market middlemen who traditionally are intermediaries between producers and consumers by a new direct relationship between producers and consumers

A

Disintermediation

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15
Q

All participants receive value from the fact that everyone else uses the same tool or product (ex: telephone, windows), all of which increase in value as more people adopt them

A

Network effect

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16
Q

Internet vs WWW

A

Internet- Highway, environment in which entities exist

WWW- Vehicles on highway, part of internet

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17
Q

Major Trends in E-commerce

A

Business trends include:
All forms of e-commerce show very strong growth

Technology trends include:
Mobile platform has made mobile e-commerce reality

Societal trends include:
Increased online social interaction and sharing

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18
Q

Look alike audience, Facebook, things you like

A

Social e-commerce

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19
Q

Uber, yelp, look for things in YOUR area

A

Local e-commerce

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20
Q 
Examples:
Business-to-Consumer (B2C)
Business-to-Business (B2B)
Consumer-to-Consumer (C2C)
Mobile e-commerce (M-commerce)
A

B2C- Target
B2B- Maker to Seller
C2C- Ebay
M-commere- works on ur phone

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21
Q

Invention of E-Commerce

A

Ideal:

  • Friction free commerce- anyone could do anything, instant
  • if your product was out there first you could win

Additional concepts include disintermediation, monopoly profits, switching costs, network effects, disrupting traditional channels.

1995–2000: Invention
Sale of simple retail goods
Limited bandwidth and media
Euphoric visions of
Friction-free commerce
First-mover advantages
Dot-com crash of 2000
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22
Q

Consolidation of E-Commerce

A

People who survived who returned on profitability
Venture capitalist left

2001–2006: Consolidation
Emphasis on business-driven approach
Traditional large firms expand presence
Start-up financing shrinks
More complex products and services sold
Growth of search engine advertising
Business web presences expand
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23
Q

Reinvention of E-Commerce

A

Rapid growth of everything after Iphone

2007–Present: Reinvention
Rapid growth of:
Web 2.0, including online social networks
Mobile platform
Local commerce
On-demand service economy
Entertainment content develops as source of revenues
Transformation of marketing
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24
Q

Why Many early visions not fulfilled

A

Price dispersion
Information asymmetry
New intermediaries
Big brands can compete more aggressively

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25
Q

person who follows the first person who makes mistakes, usually succeeds

A

Fast Follower

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26
Q

Fast-follower advantages
Start-up costs
Impact of mobile platform
Emergence of on-demand e-commerce

A

Other surprises of E-Commerce

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27
Q

Technology:
Development and mastery of digital computing and communications technology
Business:
New technologies present businesses with new ways of organizing production and transacting business
Society:
Intellectual property, individual privacy, public welfare policy

A

Understanding E-commerce: Organizing Themes

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28
Q

• Eight key components of e-commerce business models (e.g. value prop, revenue model, etc.)

A 
o	 Value proposition
o	Revenue model
o	Market opportunity
o	Competitive environment
o	Competitive advantage
o	Market strategy
o	Organizational development
o	Management team
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29
Q

“Why should the customer buy from you?”

Successful e-commerce ______:
Personalization/customization
Reduction of product search, price discovery costs
Facilitation of transactions by managing product delivery

A

Value proposition

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30
Q

“How will you earn money?”

A

o Revenue model

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31
Q

“What marketspace do you intend to serve and what is its size?”

Area of actual or potential commercial value in which company intends to operate

typically divided into smaller niches

A

o Market opportunity

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32
Q

“Who else occupies your intended marketspace?”

Other companies selling similar products in the same marketspace
Includes both direct and indirect competitors

A

Competitive environment

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33
Q

“What special advantages does your firm bring to the marketspace?”

Is your product superior to or cheaper to produce than your competitors’?

A

o Competitive advantage

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34
Q

“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
Best business concepts will fail if not properly marketed to potential customers

A

o Market strategy

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35
Q

“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

A

o Organizational development

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36
Q

“What kind of backgrounds should the company’s leaders have?”

A

o Management team

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37
Q

• B2C business models (be able to match the model with an example provided)

A 
o	Portal
o	E-tailer
o	Content provider
o	Transaction broker
o	Market creator
o	Service provider
o	Community provider
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38
Q

Search plus an integrated package of content and services (REV?)

Variations:
Horizontal/general (example: Yahoo, A O L, M S N)
Vertical/specialized (vortal) (example: Sailnet)
Search (example: Google, Bing)

A

o Portal

Revenue models:
Advertising, referral fees, transaction fees, subscriptions for premium services

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39
Q

online version of traditional retailer (REV?)

Variations:
Virtual merchant
Bricks-and-clicks
Catalog merchant
Manufacturer-direct

Low barriers to entry

A

o E-tailer

Sales rev model

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40
Q

Digital content on the Web:
News, music, video, text, artwork (REV?)

Variations:
Syndication
Aggregators

A

o Content provider

Revenue models:
Use variety of models, including advertising, subscription; sales of digital goods
Key to success is typically owning the content

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41
Q

Process online transactions for consumers
Primary value proposition-saving time and money

Industries using this model:
Financial services
Travel services
Job placement services

A

o Transaction broker

Revenue model:
Transaction fees

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42
Q

Create digital environment where buyers and sellers can meet and transact
Examples: Priceline, eBay

On-demand service companies (sharing economy): platforms that allow people to sell services
Examples: Uber, Airbnb

A

o Market creator

Revenue model: Transaction fees, fees to merchants for access

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43
Q

Online services
Example: Google-Google Maps, Gmail, and so on

Value proposition
Valuable, convenient, time-saving, low-cost alternatives to traditional service providers

A

o Service provider
Revenue models:
Sales of services, subscription fees, advertising, sales of marketing data

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44
Q

Provide online environment (social network) where people with similar interests can transact, share content, and communicate
Examples: Facebook, LinkedIn, Twitter, Pinterest
(REV?)

A

o Community provider

Revenue models:
Typically hybrid, combining advertising, subscriptions, sales, transaction fees, and so on

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45
Q

• B2B business models (be able to match the model with an example provided; note that some of these items are similar and these will NOT be used as answer choices in the same exam question)

A 
Net marketplaces
E-distributor
E-procurement
Exchange
Industry consortium
Private industrial network
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46
Q

Supplier of things businesses need, online store

Version of retail and wholesale store, M R O goods, and indirect goods
Owned by one company seeking to serve many customers
(REV?)

A

o E-distributor (Grainger, McMaster-Carr)

Revenue model: Sales of goods

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47
Q

Creates digital markets where participants transact for indirect goods
B2B service providers, S a a S and P a a S providers
Scale economies (REV?)

Builds access to digital markets; software that selling companies can use to create e-catalogs and buying companies can use to build internal mini-markets. Generally value-chain software

Example: Ariba

A

o E-procurement

Revenue model:
Service fees, supply-chain management, fulfillment services

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48
Q

Open market place
Not as popular as we thought (REV?)

Independently owned vertical digital marketplace for direct inputs
Create powerful competition between suppliers
Tend to force suppliers into powerful price competition; number of exchanges has dropped dramatically
Example: Go2Paper

Not as popular as anticipated. Giant digital marketplace owned by private companies (usually entrepreneurial) who bring lots of suppliers for a single industry together so that buyers can have a more streamlines buying process. Encourages price competition, making it unattractive for some vendors.

A

o Exchange

Revenue model: Transaction, commission fees

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49
Q

Industry-owned vertical digital marketplace open to select suppliers
More successful than exchanges
Sponsored by powerful industry players
Strengthen traditional purchasing behavior (REV?)
Example: SupplyOn

similar to an exchanges, but owned by group of major industry players. More successful than private exchanges

A

o Industry consortium

Revenue model: Transaction, commission fees

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50
Q

Digital network used to coordinate among firms engaged in business together
Typically evolve out of large company’s internal enterprise system
Key, trusted, long-term suppliers invited to network
Example: Walmart’s network for suppliers

Be able to recognize this model: Created by super-large companies to make their buying process more efficient. Open only to trusted long-time suppliers, companies like Walmart create these private networks to coordinate communication, ordering overall inventory management. Company pays for network but saves in creating a much more efficient procurement network

A

Private Industrial Network

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51
Q

Business strategy (definition and five key types)

A 
o	Differentiation
	Commoditization (opposite of differentiation
o	Cost competition
o	Scope strategy
o	Focus/market niche strategy
o	Customer intimacy
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52
Q

Plan for achieving superior long-term returns on capital invested: that is, profit

A

Business Strategy

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53
Q

making ur product stand out

A

Differentiation

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54
Q

No difference in products, only difference is price

A

Commoditization (opposite of differentiation

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55
Q

Firm has an advantage so they can charge less

A

Cost competition

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56
Q

Compete globally

A

Scope strategy

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57
Q

connect with small niche of ppl

A

Focus/market niche strategy

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58
Q

create strong ties with customer

A

Customer intimacy

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59
Q

Number and size of active competitors
Each competitor’s market share
Competitors’ profitability
Competitors’ pricing

A

Competitive Environment Influences

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60
Q 
Asymmetries
First-mover advantage, complementary resources
Unfair competitive advantage
Leverage
Perfect markets
A

Competitive Advantage Important Concepts

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61
Q

Can make the business model work
Can give credibility to outside investors
Has market-specific knowledge
Has experience in implementing business plans

A

Strong management team

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62
Q

Raising Capital

A 
Seed capital
Elevator pitch
Traditional sources
- Incubators, angel investors
- Commercial banks, venture capital firms
- Strategic partners
Crowdfunding
- J O B S Act
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63
Q

easier to get into for new businesses, time varies

A

Incubators-

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64
Q

high standards, highly competitive, for more established businesses

A

Exrelerators-

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65
Q

allows equity crowdfunding (selling stocks)

A

Jobs ACT-

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66
Q

When you donate, you get something back

A

Reward crowdfunding

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67
Q

Fails visibly

If you win, they support your business

A

Crowdfunding

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68
Q

SaaS-

A

Software as a Service

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69
Q

SaaS-

A

Software as a Service

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70
Q 
Rivalry among existing competitors
Barriers to entry
Threat of new substitute products
Strength of suppliers
Bargaining power of buyers
Industry structural analysis
A

E-commerce changes industry structure by changing:

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71
Q

Set of activities performed by suppliers, manufacturers, transporters, distributors, and retailers that transform raw inputs into final products and services

All of the steps that move the og stuff in the product/service into the stuff you sell
Every step should add value

A

Industry Value Chains

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72
Q

Activities that a firm engages in to create final products from raw inputs

A

Firm Value Chains

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73
Q

Networked business ecosystem

Strategic partnerships as part of value chain, amazon

A

Firm Value Webs

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74
Q

Disruptors introduce new products of lower quality
Disruptors improve products
New products become superior to existing products
Incumbent companies lose market share

A

Disruptive changes stages

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75
Q

Set of activities performed by suppliers, manufacturers, transporters, distributors, and retailers that transform raw inputs into final products and services

All of the steps that move the og stuff in the product/service into the stuff you sell
Every step should add value

A

Industry Value Chains

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76
Q

Disruptors introduce new products of lower quality
Disruptors improve products
New products become superior to existing products
Incumbent companies lose market share

A

Disruptive changes stages

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77
Q

 initial purpose was to link large mainframe computers on different college campuses
 Key building blocks were created (even if not fully implemented at the time)
!!!!Packet switching
• Email invented
!!!!!Client/server computing invented
!!!!!!TCP/IP invented

A

Innovation of Internet (1961-1974)

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78
Q

 Department of Defense and National Science Foundation (NSF) fund further development and deployment.
 1986 NSF given task to create civilian Internet for $200 million
 First personal computers are introduced
!!!!!! Domain Name System (DNS) introduced so we don’t need to remember IP addresses
 Start of e-commerce

A

o Institutionalization (1975-1995)

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79
Q

The fully civilian, commercial internet is born becomes widely adopted

A

Commercialization (1995-present)

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80
Q

is a set of standards/rules that unify formatting, compression, error checking, speed and confirmation of sent/received messages

A

TCP

transmission control protocol

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81
Q

initial purpose was to link large mainframe computers on different college campuses

A

Innovation of Internet (1961-1974)

Invented

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82
Q

Slices digital messages into packets
Sends packets along different communication paths as they become available
Reassembles packets once they arrive at destination
Uses routers
Less expensive, wasteful than circuit-switching

A

Packet switching

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83
Q

 Department of Defense and National Science Foundation (NSF) fund further development and deployment.
 1986 NSF given task to create civilian Internet for $200 million
 First personal computers are introduced
!!!!!! Domain Name System (DNS) introduced so we don’t need to remember IP addresses
 Start of e-commerce

A

o Institutionalization (1975-1995)

Used by department of defense and university

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84
Q

The fully civilian, commercial internet is born becomes widely adopted

A

Commercialization (1995-present)

Used by everyone and businesses

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85
Q

is a set of standards/rules that unify formatting, compression, error checking, speed and confirmation of sent/received messages

Establishes connections among sending and receiving Web computers
Handles assembly of packets at point of transmission, and reassembly at receiving end

intermediatery between 2 computers, structure that they’ve adopted, we can speak the same language

A

TCP

transmission control protocol

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86
Q

(Internet of things)

A

IoT

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87
Q

32-bit number
Four sets of numbers marked off by periods: 201.61.186.227
Class C address: Network identified by first three sets, computer identified by last set

A

IPv4 Internet Address

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88
Q

128-bit addresses, able to handle up to 1 quadrillion addresses (I P v4 can handle only 4 billion)

know that this was created to respond to shortage of available IPv4 addresses.)

A

• IPv6 Internet Address

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89
Q

know that it stands for a numeric IP address

!!!I P address!!! expressed in natural language

A

Domain name

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90
Q

know that it also uses a domain name as part of the URL

Address used by Web browser to identify location of content on the Web

A

URL (uniform resource locator)

91
Q

that client computers (e.g. desktops) are connected/networked with servers (dedicated to functions that the client computers need)

Powerful personal computers (clients) connected in network with one or more servers
Servers perform common functions for the clients

A

• Client/Server Computing (DEF)

92
Q

Firms and individuals obtain computing power and software over Internet
Three types of services

A

• Cloud computing

93
Q

owned and maintained by CPS like Amazon, HP, and made available to multiple customers who pay only for the resources they use.

Good at cost saving, you don’t own the infrastructure, good for smaller companies

A

Public cloud

94
Q

operated solely for the benefit of a single tenant, may be managed by a 3rd party

higher security, retain control over it

A

Private cloud

95
Q

own infrastructure for their most essential core activities and adopt public cloud computing for less essential or during peak hours

Large firms

A

Hybrid cloud

96
Q

Telephone-based wireless Internet access
Currently based on 3G and 4G technologies
_____ will provide higher bandwidth with speeds reaching 10 G b p s or more

A

• 5G

97
Q

High-speed, fixed broadband wireless L A N (W L A N)
Wireless access point (“hot spots”)
Limited range but inexpensive

A

• WiFi (basic definition; don’t need to memorize diagram)

98
Q

Modest speed, low power, short range, connection of digital devices

A

Bluetooth

99
Q

(Internet of things)

Objects connected via sensors/R F I D to the Internet
“Smart things”
Interoperability issues and standards
Security and privacy concerns

Smart accessories are adding up
What’s gonna happen with that data? Who has it?

A

IoT

100
Q

3 types of Cloud computing services

A

Infrastructure as a service (I a a S)
Software as a service (S a a S)
Platform as a service (P a a S)

101
Q

Drawbacks and benefits of cloud computing

A

Drawbacks:
Security risks
Shifts responsibility for storage and control to providers

Radically reduces costs of:
Building and operating websites
Infrastructure, I T support
Hardware, software

102
Q

Regional hubs where Tier 1 I S P s physically connect with one another and with regional Tier 2 I S P s.
Tier 2 I S P s provide Tier 3 I S P s with Internet access.
Originally called Network Access Points (N A P s) or Metropolitan Area Exchanges (M A E s).

A

Internet Exchange Points (I X P s)

103
Q

Local area networks operating within single organization, such as N Y U or Microsoft Corporation
Lease Internet access directly from regional and national carriers

A

Campus/Corporate Area Networks

104
Q

Two basic types of wireless Internet access:

A

Telephone-based (mobile phones, smartphones)

Computer network-based (wireless local area network-based)

105
Q

area has wifi

A

WiMax

106
Q

area has wifi

A

WiMax

107
Q

area has wifi

A

WiMax

108
Q

Text formatted with embedded links

Links connect documents to one another, and to other objects such as sound, video, or animation files

A

Hypertext

109
Q

Fixed set of pre-defined markup “tags” used to format text

Controls look and feel of web pages

A

Hypertext Markup Language (H T M L)

110
Q

Designed to describe data and information

Tags used are defined by user

A

eXtensible Markup Language (X M L)

111
Q

Enables a computer to deliver web pages to clients on a network that request this service by sending an H T T P request
Basic capabilities: Security services, F T P, search engine, data capture

A

Web server software

112
Q

May refer to either web server software or physical server

Specialized servers: Database servers, ad servers, and so on

A

Web server

113
Q

Any computing device attached to the Internet that is capable of making H T T P requests and displaying H T M L pages

A

Web client

114
Q

Any computing device attached to the Internet that is capable of making H T T P requests and displaying H T M L pages

A

Web client

115
Q

• Considerations to address before building your site/app

A 
o	Vision of website 
o	Business and Revenue model 
o	Target audience
o	Understand the Marketplace 
o	Where does the content come from
o	SWOT Analysis 
o	E-Commerce Presence Map; 
o	Timeline/Milestones 
o	Costs
116
Q

What’s the Idea?

Mission statement
Target audience
Intended market space
Strategic analysis
Marketing matrix
Development timeline
Preliminary budget
A

o Vision of website

117
Q

Where’s the Money?

? [Is it Sustainable?]
Business model(s)
Revenue model(s)
A

Business & Revenue Model

118
Q

[Do trends support this?]

demographics, lifestyle, consumption patterns, etc.

A

o Who & where is the Target audience?

119
Q

What is the Ballpark? Characterize the ____

Size, growth, demographics, structure

A

o Understand the Marketplace

120
Q

Where is the ____ coming from?

A

o Where does the content come from; understand static/dynamic/user generated

121
Q 
Know yourself
Strengths 
Weaknesses
Opportunities
Threats
A

o SWOT Analysis

122
Q

Develop a _______
what platforms will you tackle when?

Where are you present on? What media sites?

A

o E-Commerce Presence Map

123
Q

Where would you like to be X from now?

A

o Timeline/Milestones

124
Q

How much will it ____?

Simple website: up to $5000
Small startup: $25,000 to $50,000
Large corporate website: $100,000+ to millions

A

o Costs

125
Q

Systems Development Life Cycle

A
  • Systems analysis/planning
  • Systems design
  • Building the system
  • Testing
  • Implementation/Service delivery
126
Q

Business objectives:
List of capabilities you want your site to have

System functionalities:
List of information system capabilities needed to achieve business objectives

Information requirements:
Information elements that system must produce in order to achieve business objectives

A

Systems analysis/planning

127
Q

System design specification:
Description of main components of a system and their relationship to one another

Two components of system design:
Logical design
Data flow diagrams, processing functions, databases
Physical design
Specifies actual physical, software components, models, and so on

A

Systems design

128
Q

Outsourcing
Building your own
Host your own

A

Building the system

129
Q 
Unit testing
System testing
Acceptance testing
A/B testing (split testing)
Multivariate testing
A

• Testing e.g. multivariate, A/B or split testing, acceptance testing (often under-funded)

130
Q

Most important management challenges to building e-commerce site

A

Developing a clear understanding of business objectives

Knowing how to choose the right technology to achieve those objectives

131
Q 
Management
Hardware architecture
Software
Design
Telecommunications
Human resources
A

Main factors to consider building e-commerce site

132
Q

Methodology for understanding business objectives of a system and designing an appropriate solution

A

The Systems Development Life Cycle

133
Q

Systems break down unpredictably
Maintenance is ongoing
Maintenance costs: Similar to development costs
A $40K e-commerce site may require $40K annually to upkeep
Benchmarking

A

• Implementation/Service delivery (recognize ongoing costs to maintain)

134
Q

Website scaled down to in content and navigation to quickly purchase

Responsive Web design
Less expensive
Resizing existing website for mobile access is least expensive

A

• Mobile website

135
Q

Built to run on the mobile web browser on phone or tablet

Less expensive
Can utilize browser A P I

A

• Mobile web-app

136
Q

Application built to use the device’s internal hardware, can connect to internet

Can use device hardware, available offline
Most expensive; requires more programming

A

• Native app

137
Q

Create mobile 1st and then add elements for desktops
Most efficient

Desktop website design after mobile design

A

• Mobile first design

138
Q

Server delivers different templates or versions of site optimized for device

A

Adaptive web design

139
Q

Test the site on a test internet server, key personnel

A

Acceptance Testing

140
Q

Showing 2 versions of site to ppl and seeing which they prefer better

A

A/B Testing (Split testing)

141
Q

Test all possibilities to see which design does things best

A

Multivariate Testing

142
Q

Test all possibilities to see which design does things best

A

Multivariate Testing

143
Q

A $40K e-commerce site may require ____ annually to upkeep

A

$40K

144
Q

Arrangement of software, machinery, and tasks in an information system needed to achieve a specific functionality

A

System architecture

145
Q

Web server and database server

A

Two-tier

146
Q

Web application servers

Backend, legacy databases

A

Multi-tier

147
Q

Basic tools included in all web servers
Verify that links on pages are still valid
Identify orphan files

A

Site Management Tools

148
Q

Contents stored in database and fetched when needed

A

Dynamic page generation:

149
Q

Provide specific business functionality required for a website

A

Web application servers:

150
Q

Provides basic functionality for sales
Online catalog
List of products available on website
Shopping cart
Allows shoppers to set aside, review, edit selections, and then make purchase
Credit card processing
Typically works in conjunction with shopping cart
Verifies card and puts through credit to company’s account at checkout

A

E-commerce Merchant Server Software

151
Q

Provides basic functionality for sales
Online catalog
List of products available on website
Shopping cart
Allows shoppers to set aside, review, edit selections, and then make purchase
Credit card processing
Typically works in conjunction with shopping cart
Verifies card and puts through credit to company’s account at checkout

A

E-commerce Merchant Server Software

152
Q

Integrated environment that includes most of functionality needed

A

Merchant Server Software Packages

153
Q

Underlying computing equipment needed for e-commerce functionality

A

Hardware platform:

154
Q

Ability to treat people based on personal qualities and prior history with site

A

Personalization

155
Q

Ability to change the product to better fit the needs of the customer

A

Customization

156
Q

Set of public statements declaring how site will treat customers’ personal information that is gathered by site

A

Privacy policy

157
Q

Set of design objectives that ensure users with disabilities can effectively access site

A

Accessibility rules

158
Q

C S S site adjusts layout of site according to device screen resolutions

A

Responsive web design (R W D)

159
Q

C S S site adjusts layout of site according to device screen resolutions

A

Responsive web design (R W D)

160
Q

need reassurance, to trust brand, referenced by friends, similar purchase patterns as friends
10-15% want to be hipster and get something not everyone has

A

“Connectedness”

161
Q

Five stages in consumer decision process

A 
Awareness of need
Search for more information
Evaluation of alternatives
Actual purchase decision
Post-purchase contact with firm

Awareness
Comparison search, search for competition
Compare competition
Buy it
Cognitive dissonance: Was this worth it?: Make sure they loved it

162
Q

User characteristics
Product characteristics
Website features: latency, usability, security
Attitudes toward online purchasing
Perceptions about control over Web environment
Clickstream behavior

A

General online behavior model

163
Q

Highly intentional, goal-oriented
Search engines
Marketplaces (Amazon, e Bay)
Specific retail site

A

How shoppers find online vendors

164
Q

Two most important factors shaping decision to purchase online:

A

Utility:
Better prices, convenience, speed
Trust:
Perception of credibility, ease of use, perceived risk
Sellers develop trust by building strong reputations for honesty, fairness, delivery

165
Q

More personalized
More participatory
More peer-to-peer
More communal

A

Features of Internet marketing (versus traditional)

166
Q

More personalized
More participatory
More peer-to-peer
More communal

A

Features of Internet marketing (versus traditional)

167
Q

Massive, but growth is slowing.
Digital divide is not as big as once feared, but still work to be done.
Biggest gaps are income (15% gap) and level of education (65% less than high school/97% college degree+/93% some college)
Rural/older/low levels of education/low household income/African Americans/Latinos all less likely to have home broadband connection.
May access in other places with public wifi.
Peer groups influence

A

Consumers Online: The Internet Audience and Consumer Behavior

168
Q

looks at how people behave on your site. What do they actually click on and in what order? What did they mouse over? How long between clicks? How many clicks to purchase? More than X clicks = abandon? Analysis can yield predictive results that help you make product recommendations and created more targeted offers.

what do they click on in what order, time mouse stayed there
What parts of site are effective

A

Clickstream behavior & Analysis

169
Q

If you are a clicks-and-bricks firm,

A

make sure that they reinforce each other for additive effect.

170
Q

How Consumers Shop

A

Most come through search engines

8% don’t shop online bc of trust & Hassle

171
Q

Need multiple layers of marketing

A

Multi-Channel Marketing Plan

172
Q

How do you measure and compare metrics from different platforms?
How do you link each to sales revenues?

A

How do you allocate resources & Prioritize

173
Q 
Establish brand identity and customer expectations
Differentiating product
Anchor the brand online
Central point for all marketing messages
Inform and educate customer
Shape customer experience
A

Website functions to:

174
Q

Need multiple layers of marketing

All the different ways your customer is exposed to your brand

A

Multi-Channel Marketing Plan

175
Q 
Establish brand identity and customer expectations
Differentiating product
Anchor the brand online
Central point for all marketing messages
Inform and educate customer
Shape customer experience
A

Website functions to:

176
Q

Advantages to online marketing

A

18-34 audience is online
Ad targeting to individuals
Price discrimination
Personalization

177
Q 
Search engine marketing and advertising (best)
Display ad marketing
E-mail marketing
Affiliate marketing
Viral marketing
Lead generation marketing
A

Traditional Online Marketing and Advertising Tools

178
Q

Use of search engines for branding

A

Search engine marketing (S E M)

179
Q

Use of search engines to support direct sales

A

Search engine advertising

180
Q

Paid inclusion
Pay-per-click (P P C) search ads

Keyword advertising
Network keyword advertising (context advertising)

A

Types of search engine advertising

181
Q

competition will hire people to click your ad to rack up a huge click bill

A

Click fraud

182
Q

Utilizes social contacts and social graph to provide fewer and more relevant results

A

Social search

183
Q

Search engine issues

A

Paid inclusion and placement practices
Link farms, content farms
Click fraud

184
Q 
Banner ads
Rich media ads
Interstitial ads
Video ads
Far more effective than other display formats
Sponsorships
Native advertising
Content marketing
Advertising networks
Ad exchanges, programmatic advertising, and real-time bidding (R T B)
A

Display Ad Marketing

185
Q

Ad fraud
Viewability
Ad blocking

A

Display advertising issues

186
Q

Messages sent directly to interested users

A

E-mail Marketing

187
Q

Inexpensive
Average around 3% to 4% click-throughs
Measuring and tracking responses
Personalization and targeting

A

Email Marketing Benefits

188
Q

Spam
Anti-spam software
Poorly targeted purchased e-mail lists

A

Email marketing Challenges

189
Q

Efforts to control spam have largely

A

failed

190
Q

Commission fee paid to other websites for sending customers to their website

A

Affiliate marketing

191
Q

Marketing designed to inspire customers to pass message to others

A

Viral marketing

192
Q

Services and tools for collecting, managing, and converting leads

A

Lead generation marketing

193
Q

Use of online social networks and communities

A

Social marketing and advertising

194
Q

Use of mobile platform

Influence of mobile apps

A

Mobile marketing and advertising

195
Q

Geotargeting
Display ads in hyperlocal publications
Coupons

A

Local marketing

196
Q

It’s better to have a ________ audience than a _______ audience

A

Smaller; larger

197
Q

All the different ways your customer is exposed to your brand

Integration of online and offline marketing

Reinforce branding messages across media

A

Multi-Channel Marketing

198
Q

One-to-one marketing (personalization)
Behavioral targeting (interest-based advertising)
Retargeting

A

Customer retention strategies

199
Q

F A Qs
Real-time customer service chat systems
Automated response systems

A

Customer service

200
Q

integral part of marketing strategy

A

Pricing:

201
Q

Traditional pricing based on

A

fixed costs, variable costs, demand curve

202
Q

Base level is free, advanced is more

A

Free:

203
Q

no ads if you pay for it

A

Freemium:

204
Q

lower vs higher features

A

Versioning:

205
Q

Auctions
Yield management
Surge pricing
Flash marketing

A

Dynamic pricing

206
Q

Internet allows for sales of obscure products with little demand

A

Long Tail Marketing

207
Q

Near zero inventory costs
Little marketing costs
Search and recommendation engines

A

Long tail marketing Substantial revenue because

208
Q

The incremental cost of producing the next product

A

Marginal costs

209
Q

Revenue incrementally firm receives for each item sold

A

Marginal Revenue

210
Q

Scope of marketing communications broadened
Richness of marketing communications increased
Information intensity of marketplace expanded
Always-on mobile environment expands marketing opportunities

A

Internet’s main impacts on marketing:

211
Q

Built into web server software
Record user activity at website
Provides much marketing data, especially combined with:
Registration forms
Shopping cart database
Answers questions such as:
What are major patterns of interest and purchase?
After home page, where do users go first? Second?

A

Web Transaction Logs

212
Q

cookies that can’t be deleted like normal cookies

A

Supercookies

213
Q 
Cookies
Flash cookies
Web beacons (“bugs”)
Tracking headers (supercookies)
Other tracking methods
Deterministic cross-device tracking
Probabilistic cross-device tracking
A

Types of tracking files

214
Q

Enable profiling
Store records and attributes
Database management system (D B M S):
Relational Databases

A

Databases

215
Q

Industry-standard database query and manipulation language used in a relational database

A

S Q L (Structured Query Language):

216
Q

Collects firm’s transactional and customer data in single location for offline analysis by marketers and site managers

A

Data warehouse:

217
Q

Analytical techniques to find patterns in data, model behavior of customers, develop customer profiles

A

Data mining:

218
Q

Query-driven data mining
Model-driven data mining
Rule-based data mining

A

Types of data mining

219
Q

Manage relationship with customers once purchase is made

Create customer profiles

A

C R M systems

220
Q

Develop and sell additional products
Identify profitable customers
Optimize service delivery, and so on

A

Customer data used to:

221
Q

Use ____ to measure ad campaign

A

ROI (return on investment)

222
Q

Pricing models of online advertising

A

Barter, cost per thousand (C P M), cost per click (C P C), cost per action (C P A), hybrid, sponsorship

223
Q

Correlating online marketing to online or offline sales
In general, online marketing is more expensive on C P M basis, but more efficient in producing sales
Effective cost-per-thousand (e C P M)

A

Measuring issues of online advertising

224
Q

Software that analyzes data at each stage of the customer conversion process

Helps managers
Optimize R O I on website and marketing efforts
Build detailed customer profiles
Measure impact of marketing campaigns

A

Marketing Analytics

College (19 decks)

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