Shared Flashcard Set

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K321
Chap 9
47
Business
Undergraduate 4
11/30/2013

Additional Business Flashcards

 


 

Cards

Term
Advertising revenue model
Definition
A Web site generates revenue by attracting a large audience of visitors who can then be exposed to advertisements.
Term
Affiliate revenue model
Definition
An e-commerce revenue model in which Web sites are paid as "affiliates" for sending their visitors to other sites in return for a referral fee.
Term
Behavioral marketing (targeting)
Definition
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.
Term
Business-to-business (B2B) electronic commerce
Definition
Electronic sales of goods and services among businesses.
Term
Business-to-consumer (B2C) electronic commerce
Definition
Electronic retailing of products and services directly to individual consumers.
Term
Co-location
Definition
a kind of Web site hosting in which firm purchase or rent a physical server computer at a hosting company's location in order to operate a Web site.
Term
Community providers
Definition
a Web site business model that creates a digital online environment where people with similar interests can transact (buy and sell goods);share interests, photos, videos; communicate with like-minded people; receive interest-related information; and even play out fantasies by adopting online personalities called avatars.
Term
Consumer-to-consumer (C2C) electronic commerce
Definition
consumers selling goods and services electronically to other consumers.
Term
Cost transparency
Definition
the ability of consumers to discover the actual costs merchants pay for products.
Term
Crowdsourcing
Definition
using large Internet audiences for advice, market feedback, new ideas and solutions to business problems. Related to the 'wisdom of crowds' theory.
Term
Customization
Definition
the modification of a software packge to meet an organization's unique requirements without destroying the package software's integrity.
Term
Digital goods
Definition
goods that can be delivered over a digital network
Term
Disintermediation
Definition
the removal of organizations or business process layers responsible for certain intermediary steps in a value chain.
Term
Dynamic pricing
Definition
pricing of items based on real-time interactions between buyers and sellers that determine what an item is worth at any particular moment.
Term
Electronic data interchange (EDI)
Definition
the direct computer-to-computer exchange between two organizations of standard business transactions, such as orders, shipment instructions, or payments.
Term
E-tailer
Definition
online retail stores from the giant Amazon to tiny local stores that have Web sites where retail goods are sold.
Term
Exchanges
Definition
Third-party Net marketplaces that are primarily transaction oriented and that connects many buyers and suppliers for spot purchasing.
Term
Free/freemium revenue model
Definition
an e-commerce revenue model in which a firm offers basic services or content for free, while charging a premium for advanced or high value features.
Term
Information asymmetry
Definition
situation where the relative bargaining power of two parties in a transaction s is determined by one party in the transaction possessing more information essential to the transaction that the other party.
Term
Information density
Definition
the total amount and quality of information available to all market participants, consumers, and merchants.
Term
Intellectual property
Definition
intangible property created by individuals or corporations that is subject to protections under trade secret, copyright, and patent law.
Term
Long tail marketing
Definition
refers to the ability of firms to profitably market goods to very small online audiences, largely because of the lower costs of reaching very small market segments (people who fall into the long tail end of a Bell curve).
Term
Market creator
Definition
an 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.
Term
Market entry costs
Definition
the cost merchants must pay simply to bring their goods to market.
Term
Marketspace
Definition
a marketplace extended beyond traditional boundaries and removed from a temporal and geographic location.
Term
Menu costs
Definition
merchants' costs of changing prices
Term
Micropayment systems
Definition
provide content providers with cost-effective method for processing high volumes of very small monetary transactions (between .25- to $5.00 per transaction)
Term
Mobile commerce (m-commerce)
Definition
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.
Term
Net marketplaces
Definition
digital marketplaces based on Internet technology linking many buyers to many sellers.
Term
Personalization
Definition
ability of merchants to target their marketing messages to specific individuals by adjusting the message to a person's name, interests, and past purchases.
Term
Podcasting
Definition
method of publishing audio broadcasts via the Internet, allowing subscribing users to download audio files onto their personal computers or portable music players.
Term
Prediction market
Definition
an analysis of the portfolio of potential applications within a firm to determine the risks and benefits, and to select among alternatives for information systems.
Term
Price discrimination
Definition
selling the same goods, or nearly the smae goods, to different targeted groups at different prices.
Term
Price transparency
Definition
the ease with which consumers can find out the variety of prices in a market.
Term
Private exchange
Definition
another term for a private industrial network.
Term
Private industrial networks
Definition
Web-enabled networks linking systems of multiple firms in an industry for the coordination of trans-organizational business processes.
Term
Revenue model
Definition
a description of how a firm will earn revenue, generate profits, and produce a return on investment.
Term
Richness
Definition
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.
Term
Sales revenue model
Definition
companies derive revenue by selling goods, information, or services to customers.
Term
Search costs
Definition
the time and money spent locating a suitable product and determining the best price for that product
Term
Social graph
Definition
map of all significant online social relationships, comparable to a social network describing offline relationships.
Term
Social shopping
Definition
use of Web sites featuring user-created Web pages to share knowledge about items of interest to other shoppers.
Term
Streaming
Definition
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.
Term
Subscription revenue model
Definition
a Web site offering content or services charges a subscription fee for access to some or all of its offerings on an ongoing basis
Term
Transaction costs
Definition
the costs of participating in a market
Term
Transaction fee revenue model
Definition
an online e-commerce revenue model where the firm receives a fee for enabling or executing transactions
Term
Wisdom of crowds
Definition
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 (first proposed in a book by James Surowiecki)
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