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MIS Chapter 9 & 10
Terms in this set (67)
Customer relationship management applications dealing with the analysis of customer data to provide information for improving business performance
Distortion of information about the demand for a product as it passes from one entity to the next across the supply chain
Measurement of the number of customers who stop using or purchasing products or services from a company. Used as an indicator of the growth or decline of a firm's customer base.
Marketing complementary products to customers
Customer Lifetime value
Difference between revenues produced by a specific customer and the expenses for acquiring and servicing that customer minus the cost of promotional marketing over the lifetime of the customer relationship, expressed in today's dollars.
determining how much product a business needs to make to satisfy all its customers' demands
Employee Relationship Management (ERM)
Software dealing with employee issues that are closely related to CRM, such as setting objectives, employee performance management, performance-based compensation, and employee training.
built around thousands of predefined business processes that reflect best practices
Scheduling system for minimizing inventory by having components arrive exactly at the moment they are needed and finished goods shipped as soon as they leave the assembly line.
Customer-facing applications such as sales force automation, call center and customer service support, and marketing automation
Partner Relationship Management (PRM)
automation of the firm's relationships with its selling partners using customer data and analytical tools to improve coordination and customer sales
Supply chain driven by actual customer orders or purchases so that members of the supply chain produce and deliver only what customers have ordered.
Supply chain driven by master production schedules based on forecasts or best guesses of demand for products; products are pushed to customers.
Sales Force Automation
help sales staff increase productivity by focusing sales efforts on the most profitable customers, those who are good candidates for sales and services.
tools enabling a business to link customer conversations, data, and relationships from social networking sites to CRM processes
Network of organizations and business processes for procuring materials, transforming raw materials into intermediate and finished products, and distributing the finished products to customers.
Supply Chain Execution Systems
Systems to manage the flow of products through distribution centers and warehouses to ensure that products are delivered to the right locations in the most efficient manner.
Supply Chain Planning Systems
systems that enable a firm to generate demand forecasts for a product and to develop sourcing and manufacturing plans for that product
Method of firm interaction with a customer, such as a telephone, email, customer service desk, conventional mail, or point of purchase
Advertising Revenue Model
website generating revenue by attracting a large audience
Affiliate Revenue Model
E-commerce revenue mode in which websites are paid as affiliates for sending their visitors to other sites in return for a referral fee
tracking the click-streams (history of clicking behavior) of individuals across multiple Web sites for the purpose of understanding their interests and intentions, and exposing them to advertisements which are uniquely suited to their interests
Electronic sales of goods and services among businesses.
Electronic retailing of products and services directly to individual consumers.
website business model that creates a digital online environment in which people with similar interests can transact; share interests, photos, and videos; and receive interest-related information
Consumers selling goods and services electronically to other consumers.
The ability of consumers to discover the actual costs merchants pay for products.
using large internet audiences for advice, market feedback, new ideas and solutions to business problems. related to the wisdom of crowds theory
in e-commerce, changing a delivered product or service based on a user's preferences or prior behavior
goods that can be delivered over a digital network
the removal of organizations or business process layers responsible for intermediary steps in a value chain
pricing of items based on real-time interactions between buyers and sellers that determine what an item is worth at any particular moment
Electronic Data Interchange (EDI)
the direct computer-to-computer exchange between two organizations of standard business transactions, such as orders, shipment instructions, or payments
online retail stores from the giant Amazon to tiny local stores that have websites where retail goods are sold
Third-party Net marketplaces that are primarily transaction oriented and that connect many buyers and suppliers for spot purchasing.
Free-freemium revenue model
E-commerce revenue mode in which a firm offers free basic services or content while charging a premium for advanced or high-value features
delivering ads to users based on their GPS location
all other goods not directly involved in the production process
situation when 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
the total amount and quality of information available to all market participants, consumers, and merchants
Intangible property created by individuals or corporations that is subject to protections under trade secret, copyright, and patent law
GPS map services available on smartphones
Long tail marketing
ability of firms to market goods profitably to very small online audiences, largely because of the lower costs of reaching very small market segments
E-commerce business model in which firms provide a digital online environment where buyers and sellers can meet, search for products, and engage in transactions
Market entry costs
the cost merchants must pay simply to bring their goods to market
a marketplace extended beyond traditional boundaries and removed from a temporal and geographic location
Merchants costs of changing prices
Systems that facilitate payment for a very small sum of money, often less than $10.
Mobile commerce (m-commerce)
The use of wireless devices, such as cell phones or handheld digital information appliances, to conduct both business-to-consumer and business-to-business e-commerce transactions over the Internet.
Digital marketplaces based on Internet technology linking many buyers to many sellers.
ability of merchants to target their marketing messages to specific individuals by adjusting the message to a person's name, interests, and past purchases
Method of publishing audio broadcasts via the Internet, allowing subscribing users to download audio files onto their personal computers or portable music players
selling the same goods, or nearly the same goods, to different targeted groups at different prices
the ease with which consumers can find out the variety of prices in a market
Another term for a private industrial network
Private industrial networks
Web-enabled networks linking systems of multiple firms in an industry for the coordination of trans-organizational business processes
a description of how a firm will earn revenue, generate profits, and produce a return on investment
measurement of the depth and detail of information that a business can supply to the customer as well as information the business collects about the customer
Sales revenue model
selling goods, information, or services to customers as the main source of revenue for a company
the time and money spent locating a suitable product and determining the best price for that product
map of all significant online social relationships, comparable to a social network describing offline relationships
Use of websites featuring user-created web pages to share knowledge about items of interest to other shoppers.
a publishing method for music and video files that flows a continuous stream of content to a user's device without being stored locally on the device
Subscription Revenue Model
website charging a subscription fee for access to some or all of its content or services on an ongoing basis
the costs of participating in a market
Transaction fee revenue model
e-commerce revenue model in which the firm receives a fee for enabling or executing transactions
Wisdom of crowds
the belief that large numbers of people can make better decisions about a wide range of topics or products than a single person or even a small committee of experts
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