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Exam #2 Chap. 4 & 5

Terms in this set (145)

disruptive technology
new way of doing things that initially does not meet the needs of existing customers
sustaining technology
produces an improved product customers are eager to buy, such as a faster car or larger hard drive
internet
massive network that connects computers all over the world and allows them to communicate with one another
ecommerce
buying and selling of goods and services over the internet
ebusiness
includes ecommerce along with all activities related to internal and external business operations such as servicing customer accounts, collaborating with partners, and exchanging real-time information
paradigm shift
occurs when a new, radical form of business enters the market that reshapes the way companies and organizations behave
information richness
refers to the depth and breadth of details contained in a piece of textual, graphic, audio, or video information
information reach
measures the number of people a firm can communicate with all over the world
mass customization
the ability of an organization to tailor its products or services to the customers' specifications
personalization
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
long tail
referring to the tail of a typical sales curve
intermediaries
agents, software or businesses that provide a trading infrastructure to bring buyers and sellers together
disintermediation
occurs when a business sells directly to the customer online and cuts out the intermediary
reintermediation
steps are added to the value chain as new players find ways to add value to the business process
cybermediation
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
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