MIS Test 3 (Chapter 9) Flashcards
What is business-to-consumer e-commerce?
Involves selling products and services to individual shoppers
What is business-to-business e-commerce?
Involves selling products and services among businesses
What is consumer-to-consumer e-commerce?
Involves consumers selling directly to consumers
What is information asymmetry?
situation where the relative bargaining power of two parties in a transaction is determined by one party in the transaction possessing more information essential to the transaction than the other party.
What are transaction costs?
the costs involved in buying or selling a product; this includes costs associated with searching for a product
What are menu costs?
the costs involved in changing prices
What is price discrimination?
the practice of selling goods or services at different prices to different buyers, even though sales costs are the same for all the transactions.
What is dynamic pricing?
varying the price of the product depending on the demand characteristics
What is Disintermediation?
the removal of organizations or business process layers responsible for certain intermediary steps in a value chain
What is a digital good?
Goods that can be delivered over a digital network (music, video, software, newspapers, etc.)
What is e-commerce marketing?
Internet provides marketers with new ways of identifying and communicating with customers.
What is long tail marketing?
ability to reach a large audience inexpensively.
What is behavioral targeting?
tracking the online behavior of individuals at one or thousands of Web sites in order to better understand interests and intentions.
What are advertising networks?
- Connect online marketers with publishers by displaying ads to consumers based on detailed customer information
- Ads are selected based on clickstream behavior, demographics, prior searches, memberships, location, interests, etc.
What is search engine marketing?
One of fastest growing and most effective forms of online marketing communications (46.5% of online ad spending in 2012)
What are display ads?
Banners, pop-ups and pop-unders
What is rich media / video ads?
Employ Flash, Java, streaming audio and/or video
What is email marketing?
E-mail sent directly to interested consumers who expressed an interest in receiving messages from the advertiser (an “opt-in” audience of consumers)
What is social network advertising?
Advertising via Facebook, Twitter, YouTube, etc.
What is electronic data interchange (EDI)?
Uses a private network to automate the exchange of documents such as purchase orders, invoices, and shipping notices.
What is procurement?
Businesses can now use Internet to locate low-cost suppliers, search online catalogs of supplier products, negotiate with suppliers, place orders, and so on
What is the private industrial network (private exchange)?
Web-enabled networks linking systems of multiple firms in an industry for the coordination of transorganizational business processes.
What are net marketplaces?
Digital marketplaces based on Internet technology linking many buyers to many sellers
What is negotiation?
Selling to another business may require you to haggle over prices, delivery and product specifications.
What is integration?
Selling to another business may require you to integrate your system with theirs
