Social Media, Peer Production, Web 2.0 Flashcards
What does Social media do for average Joe
it democartaizes access to influence, and technology
What si the most valuable brand
yourself
what si WEb 2.0
fosters User praticipation, collaboration and info sharing, as contrasted with the static transaction oriented Web 1.0
What is Peer Production
when users collaboratively work together to create content products and services
What is social media
content htat is created shared commented on by a broader community of users sometimes called UGC sites (User genrated content sites)
Is SOcial media a blue ocean?
nope. saturation = red ocean
What are the 4 kinds of Web 2.0 services
Blogs(online diary) Wikis (anyone can edit from their web browser collaborate online to compelte tasks/creat knowledge database) Electronic SOcial Networks (discoer and reinforce affilitations ex:FB Linked in) Microblogging (short messages that can be time senstitive, no folow back needed)
What can companies sue social media to do?
learn from customers, show good comments to other custoemrs, create a feeling of communtiy amoung custoerms
What is SMART
Social MEdia Awareness And REsponse Team
What is Wisdom of the Crowds
the idea that a group of untrained amateurs can do things better than a small group of experts
What is needed for a crowd t be smart
diverse, decentralized, Offer a collective verdict, independent
What is a prediction market
polling a diverse crowd and aggregating opinions in order to form a forcast of an eventual outcome
How did Whinston and Winkler use TWTR as a prediction market to see if a brand is ascending of decending?
listening to custoemrs, indentifying the leaders, and montioring shifts in opinion
What is crowde sourceinfg and what are some examples of it
a call to a large group to do a task ex: Amzn mechanical turk, NFLX prize, GE Ecomagination Challenge
What is crowdfunding
ppl give you $ to start your busienss and you dint have togive up any equity
