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Terms in this set (46)
implies that organizations that cannot adapt to the new demands placed on them for surviving in the information age are doomed to extinction.
-a new way of doing things that initially does not meet the needs of existing customers.
-tends to open new markets and destroy old ones
-produces an improved product customers are eager to buy, such as a faster car or larger hard drive.
-tends to provide us with better, faster, and cheaper products in established markets.
"The Innovators Dilemna"
-a book by Clayton M. Christensen, discusses how established companies can take advantage of disruptive technologies without hindering existing relationships with customers, partners, and stakeholders.
-a massive network that connects computers all over the world and allows them to communicate with one another.
Web 1.0 (or Business 1.0)
is a term to refer to the World Wide Web during its first few years of operation between 1991 and 2003
-is the buying and selling of goods and services over the Internet.
-refers only to online transactions.
includes ecommerce along with all activities
-occurs when a new, radical form of business enters the market that reshapes the way companies and organizations behave.
-Ebusiness created a paradigm shift, transforming entire industries and changing enterprise wide business processes that fundamentally rewrote traditional business rules.
-expanding global reach
- opening new costs
- reducing costs
- improving effectiveness
enhance productivity, maximize convenience, and improve communications
-refers to the depth and breadth of details contained in a piece of textual, graphic, audio, or video information
-buyers need this
-measures the number of people a firm can communicate with all over the world
-seller need this
-The ability of an organization to tailor its products or services to the customers' specifications.
- Ex. customers can order M&M's in special colors or with customized sayings such as "Marry Me."
-occurs when a company knows enough about a customer's likes and dislikes that it can fashion offers more likely to appeal to that person, say by tailoring its website to individuals or groups based on profile information, demographics, or prior transactions.
-referring to the tail of a typical sales curve. This strategy demonstrates how niche products can have viable and profitable business models when selling via ebusiness.
-are agents, software, or businesses that provide a trading infrastructure to bring buyers and sellers together.
-occurs when a business sells directly to the customer online and cuts out the intermediary
Steps are added to the value chain as new players find ways to add value to the business process.
-refers to the creation of new kinds of intermediaries that simply could not have existed before the advent of ebusiness, including comparison-shopping sites such as Kelkoo and bank account aggregation services such as Citibank
-measures advertising effectiveness by counting visitor interactions with the target ad, including time spent viewing the ad, number of pages viewed, and number of repeat visits to the advertisement.
-observe the exact pattern of a consumer's navigation through a site. Clickstream metrics can include the length of stay on a website, number of abandoned registrations, and number of abandoned shopping carts.
A business model
-a plan that details how a company creates, delivers, and generates revenues.
An ebusiness model
-a plan that details how a company creates, delivers, and generates revenues on the Internet.
-Ebusiness models fall into one of the four categories: (1) business-to-business, (2) business-to-consumer,
(3) consumer-to-business, and (4) consumer-to-consumer
-he original term for a company operating on the Internet.
-applies to businesses buying from and selling to each other over the Internet. Examples include medical billing service, software sales and licensing, and virtual assistant businesses.
-B2B relationships represent 80 percent of all online business and are more complex with greater security needs than the other types.
-applies to any business that sells its products or services directly to consumers online.
-Carfax offers car buyers detailed histories of used vehicles for a fee.
-An eshop, sometimes referred to as an estore or etailer, is an online version of a retail store where customers can shop at any hour. It can be an extension of an existing store such as The Gap or operate only online such as Amazon.com.
-There are three ways to operate as a B2C: brick-and-mortar, click-and-mortar, and pure play
-A business that operates in a physical store without an internet presence.
Click- and-Mortar Business
-A business that operates in a physical store and on the Internet.
-Barnes and Noble
Pure- Play (Virtual) Business
-A business that operates on the Internet only without a physical store.
-applies to any consumer who sells a product or service to a business on the Internet.
- Ex. customers of Priceline.com, who set their own prices for items such as airline tickets or hotel rooms and wait for a seller to decide whether to supply them
-applies to customers offering goods and services to each other on the Internet.
- Ex. an auction where buyers and sellers solicit consecutive bids from each other and prices are determined dynamically.
-is website software that finds other pages based on keyword matching similar to Google.
search engine ranking
-evaluates variables that search engines use to determine where a URL appears on the list of search results
Search engine optimization (SEO)
-combines art with science to determine how to make URLs more attractive to search engines resulting in higher search engine ranking.
-The better the SEO, the higher the ranking for a website in the list of search engine results
Websites can generate revenue through:
-Pay-per-click: Generates revenue each time a user clicks a link to a retailer's website.
-Pay-per-call: Generates revenue each time a user clicks a link that takes the user directly to an online agent waiting for a call.
-Pay-per-conversion: Generates revenue each time a website visitor is converted to a customer.
-keywords that advertisers choose to pay for and appear as sponsored links on the Google results pages. -Keywords are chosen by the advertiser and are displayed on the results pages when the search keywords match the advertiser's keywords. The advertiser then pays a fee to Google for the search display
Six Ebusiness tools:
2. Instant messaging
5. Web conferencing
6. Content Management System
An Internet service provider (ISP)
-a company that provides access to the Internet for a monthly fee.
-Major ISPs in the United States include AOL, AT&T, Comcast, Earthlink, and Netzero.
-occurs when a system updates information at the same rate it receives it.
Instant messaging (IMing)
-is a service that enables instant or real-time communication between people.
-converts an audio broadcast to a digital music player
-allows people at two or more locations to interact via two-way video and audio transmissions simultaneously as well as share documents, data, computer displays, and whiteboards.
-Point-to-point videoconferences connect two people, and multipoint conferences connect more than two people at multiple locations.
Web conferencing or a webinar
-blends videoconferencing with document sharing and allows the user to deliver a presentation over the web to a group of geographically dispersed participants.
content management systems (CMS)
-help companies manage the creation, storage, editing, and publication of their website content.
-CMSs are user-friendly; most include web-based publishing, search, navigation, and indexing to organize information; and they let users with little or no technical expertise make website changes.
-is the scientific classification of organisms into groups based on similarities of structure or origin.
-Taxonomies are also used for indexing the content on the website into categories and subcategories of topics.
Challenges Facing Ebusiness
-Identifying Limited Market Segments
-Managing Consumer Trust
-Ensuring Consumer Protection
-Adhering to Taxation Rules
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