lecture 4

Question 1

What is Web 2.0?

Answer 1

Web 2.0 is a loose collection of information technologies and applications, and the websites that use them

Question 2

what is the diff between web 2.0 and web 1.0

Answer 2

Internet services that foster collaboration and information sharing; characteristics that distinctly set “Web 2.0” efforts apart from the static, transaction-oriented Web sites of “Web 1.0”

Question 3

web 2.0 is often applied to what

Answer 3

Often applied to Web sites and Internet services that foster social media or other sorts of peer production

Question 4

at is Web 2.0’s most powerful feature

Answer 4

Peer production

Question 5

what is Peer production

Answer 5

When users collaboratively work to create content, products, and services

Question 6

Peer-produced services have the ability to do what

Answer 6

save their sponsors the substantial cost of servers, storage, and bandwidth

Question 7

Peer production is leveraged to do what

Answer 7

create much of the open source software that supports many of the Web 2.0 efforts

Question 8

what is Crowdsourcing

Answer 8

a type of peer production where initially undefined groups of users band together to solve problems, create code, and develop services

Question 9

what are Web-based efforts that foster peer production

Answer 9

Social media or user-generated content sites

Question 10

what is Social media:

Answer 10

Content that is created, shared, and commented on by a broader community of users

Services that support the production and sharing of social media include blogs, wikis, video sites like YouTube, and most social networks

Question 11

what are the social Media Properties

Answer 11

 Reach
 Accessibility  Usability
 Recency
 Permanence

Question 12

what is the acronym for Social Media Awareness and Response Team

Answer 12

S.M.A.R.T

Question 13

what is included when you Set a Social Media Policy

Answer 13

Explicit guidelines (honesty, transparency, caution in representing firm, legal issues), Positive Examples, Case studies showing potentially damaging consequences

Question 14

how to Monitor (external & internal) social media

Answer 14

Tools (Google Alerts, Twitter Clients, Facebook Insights), ORM Agencies (online rep. mgmt), Deputies (reveal dark web)

Question 15

how to engage social media

Answer 15

Create points of contact w/trained staff; craft a compelling social media voice; liaison to internal communities

Question 16

what re the parts of monitoring social media

Answer 16

Set a social media policy
Monitor
Engage
Establish First-Responders Network

Question 17

how to Establish First-Responders Network

Answer 17

Train; ‘War-game’ scenarios; Escalation path to bring in experts (engineers, sr. executives, support specialists); Deeply involve customer service, PR, legal, tech staff.

Question 18

what is E-Commerce

Answer 18

Focus on the transaction: adding revenue streams using the web or the Internet to build/enhance relationship with clients & partners
 Buying & selling of products or services over electronic systems such as the Internet
 The marketing, buying, selling and support of products and services via computer networks including the Internet

Question 19

what are the 2 types of ecommerce classifications

Answer 19

Based on degree of digitization involved

Based on type of provider and consumer involved

Question 20

e-commerse classification: Based on degree of digitization involved (in the nature of product, and production and delivery process), firms can be classified as: (3 things)

Answer 20

– bricks-and-mortar

– clicks-and-mortar (or hybrid)

– pure-play (or pure-click, pure digital or virtual)

Question 21

whats bricks-and-mortar

Answer 21

 e.g., A traditional grocery store, or car repair shop

Question 22

what is – clicks-and-mortar (or hybrid)

Answer 22

 e.g., Amazon.com; Staples.com; Bestbuy.com

Question 23

what is – pure-play (or pure-click, pure digital or virtual)

Answer 23

 e.g., Buy.com, iTunes, ebay.com

Question 24

ecommerce classificaton: based on type of provider and consumer involved: what are they

Answer 24

– B2C (business-to-consumer)
– B2B (business-to-business)
– C2C (consumer-to-consumer) – B2E (business-to-employee)
– G2B (government-to-business)

Question 25

what is mCommerce

Answer 25

transactions are conducted using a mobile device (e.g., smartphone). a new category go ecommerce

Question 26

what is a Business Model

Answer 26

A business model is the method by which a company generates revenue to sustain itself.

Question 27

eCommerce reinvents tried-and-true models and foster new what

Answer 27

kinds of business models

Question 28

Internet popularized what business model

Answer 28

the auction model

Question 29

how did Internet popularized the auction model

Answer 29

– broadened its applicability to a wide array of goods/services – provides an efficient infrastructure for conducting auctions  lower administrative costs  many more involved buyers and sellers – Forward and Reverse Auctions

Question 30

what are the internet business models

Answer 30

``` Online Sales Model Brokerage (market-makers) Infomediary Advertising Affiliate Subscription Utility ```

Question 31

what is Online Sales Model

Answer 31

Click and Mortar; Pure play (or pure click)

Question 32

what is Brokerage (market-makers)

Answer 32

– Auction Broker: ebay.com – Payment or Transaction Broker: paypal.com – Name-your-price (Demand Collection System): Priceline.com – Virtual Marketplace: Alibaba

Question 33

what is Infomediary:

Answer 33

Similar to Brokerage ; Deal with information: Edmunds.com

Question 34

what is Advertising

Answer 34

(Content Publishers/Portals): Yahoo, NYT.com, Google Adwords

Question 35

what is  Affiliate

Answer 35

(Pay-per-click; Pay–per- action/sale): Amazon

Question 36

what is  Subscription:

Answer 36

FT.com, Netflix

Question 37

what is  Utility:

Answer 37

(Metered Usage): Digital Ocean, Amazon AWS | 22

Question 38

what is B2C E-Commerce

Answer 38

Focusing on online sales business model

Question 39

for B2C E-Commerce (Focusing on online sales business model), Based on the level of transactions related features available on seller’s website, a seller’s website can be classified as:

Answer 39

 E-Brochure: Billboard/catalog; Up-to-Date Info  E-Promotion: Product Info; Consumer Services  E-Sales: Orders and Full Transactions

Question 40

what are issues in B2C

Answer 40

 Long Tail  Channel conflict –  Order fulfillment

Question 41

what are types of Channel conflict –

Answer 41

Disintermediation – Cannibalization

Question 42

what are types of Order fulfillment

Answer 42

– More difficult in B2C as compared to B2B

Question 43

what is Disintermediation (conflict with channel partners)

Answer 43

– Manufacturers disintermediate their channel partners by selling their products directly to consumers – Often replaces one intermediary (retailer) with another (FedEx or UPS)

Question 44

what is Cannibalization (conflict within own distribution channels

Answer 44

– logistic services, pricing | – Separate offline and online businesses or adopt multichanneling strategy

Question 45

what is Order fulfillment issues

Answer 45

 More complicated in B2C e-commerce as compared to B2B commerce – transactions are much smaller but are larger in number. ```  Problems especially during the holiday season – late deliveries, – delivering wrong items, – high delivery cost, and – compensation to unhappy customers ```

Question 46

B2B e-commerce is simply defined as what

Answer 46

e- commerce between companies (i.e., buyers and sellers are organizations).

Question 47

what is Electronic data interchange (EDI)

Answer 47

the transfer of structured data, by agreed message standards, from one computer system to another (used most in B2B)

Question 48

what are EDI Advantage:

Answer 48

reduces the handling costs of manually processing of paper documents, reduces errors, reduces cycle times

Question 49

what are EDI Disadvantage:

Answer 49

cost (dedicated point-to-point), inflexible, many standards, needs restructuring, long startup period

Question 50

how to Use Internet for B2B commerce

Answer 50

Web-Based EDI | B2B e-Marketplaces

Question 51

whats Web-Based EDI

Answer 51

– Allows processing of electronic documents using just a web browser instead of implementing a complex EDI infrastructure

Question 52

what is B2B e-Marketplaces

Answer 52

– trading platform for conducting business among many buyers, sellers and trading partners – without complications or significant costs – the infrastructure of the Internet provides the platform – allows real time transactions, allowing participants to communicate immediately, frequently and accurately 31

Question 53

what are the two types of E-MarketPlace

Answer 53

vertical and horizontal

Question 54

what is Vertical E-MarketPlace

Answer 54

– Direct/Manufacturinginputs – Connects buyers and sellers in a given industry – Quality, specification and delivery are important (winery example; instead of having different company for grapes, making, packaging, etc... they just do it all themselves or buy the places that do)

Question 55

what is Horizontal e market place

Answer 55

``` – Maintenance/Repair/Opera tion (MRO) input – Connects buyers and sellers across many industries – Price, delivery and ease of ordering are primary considerations. ```

Question 56

further explain Vertical E-Marketplace

Answer 56

 Very specialized in terms of products,  Deep knowledge about the products and how the industry operates  Using long-term contracts with written agreements; negotiated prices

Question 57

further explain Horizontal E-Marketplace

Answer 57

 Every business needs MRO inputs  Can be shipped through 3rd party logistics providers  Simplify/streamline the purchase process for MRO products; reduce admin and product cost  Access to wide variety of products, large number of suppliers, as well as support for auction mechanisms to help larger buyers (or an aggregation of small buyers)

Question 58

what are benefits of Public E-Marketplaces

Answer 58

 Greater liquidity (ease, speed, and volume of transactions)  Reduces marketplace friction

Question 59

what are Private E-Marketplaces

Answer 59

Formed by a single company to trade with its business partners (buyers and/or suppliers)

Question 60

what are the 2 sides of private e marketplaces

Answer 60

buy-side | sell-side

Question 61

what is buy-side of private e marketplaces

Answer 61

Key mechanism: reverse auctions, group | purchasing

Question 62

what is sell-side of private e marketplaces

Answer 62

Key mechanisms: electronic catalogs and forward auctions

Question 63

what are the Benefits to Consumers of private e market places

Answer 63

 Much more choices, and in some cases, especially with digitized products, allows for quick delivery.  Enables customers to shop and do transactions 24 hours a day, 7 days a week and 365 days a year.  Allows customers to receive relevant and detailed information much faster  Enables consumers to get customized products/services.

Question 64

what are the Benefits to Organizations for private e market places

Answer 64

 Decreases cost of creating, processing, distributing, storing and retrieving paper- based information:  Allows reduced inventories and overhead: EC can minimize supply chain inefficiencies (excessive inventories or delivery delays).  Helps small businesses to compete with larger companies  Enables organizations to reach customers outside their immediate area at minimum cost.

Question 65

what are the Benefits to Society for private e marketplaces

Answer 65

 More individuals can work at home.  Some merchandise can be sold at lower prices, allowing less affluent people to buy more and increase their standard of living.  People in less developed countries and rural areas have access to products and services that otherwise are unavailable.  Public services can be delivered at a reduced cost and improved quality.

Question 66

what are the Limitations for private e marketplaces

Answer 66

Technical  Lack of universally accepted security standards  Insufficient telecommunications bandwidth  Expensive accessibility Non-technical  Perception that EC is unsecure  Unresolved legal issues  Lacks a critical mass of sellers and buyers  Internet access is still expensive and inconvenient for many potential customers.  Psychological issues involved – touch/feel; face-to-face.  In many areas there is not enough critical mass for EC to be successful

Question 67

in summary, private market places are really is a question of...

Answer 67

 Credibility  Accuracy  Timeliness  Reliability