Flashcards
information systems-chapter 10
Cards in this deck (45)
- 1market spacea marketplace extended beyond traditional boundaries and removed from a temporal and geographic location
- 2transaction coststhe costs of participating in a market, these have lowered since the introduction/availability of the internet
- 3search coststhe effort required to find suitable products
- 4richnessrefers to the complexity and content of a message
- 5information densitythe total amount and quality of information available to all market participants, consumers, and merchants alike
- 6price transparencyrefers to the ease with which consumers can find out the variety of prices in a market
- 7cost transparencyrefers to the ability of consumers to discover the actual costs merchants pay for products
- 8price discriminationselling the same goods, or nearly the same goods, to different targeted groups at different prices
- 9personalizatione-commerce technologies permit _________. Merchants can target their marketing messages specific to individuals.
- 10customizationchanging the delivered product or service based on a user's preferences or prior behavior
- 11information asymmetryexists when one party in a transaction has more information that is important for the transaction than the other party
- 12menu costsmerchants costs of changing prices
- 13dynamic pricingthe price of a product varies depending on the demand characteristics of the customer or the supply situation of the seller
- 14disintermediationthe removal of organizations or business
- 15digital goodsthings that can be delivered over a network marketspace
- 16mobile commerce or m-commerceuse of handheld wireless devices for purchasing goods and services from any locations is termed _______________
- 17e-tailersonline retail stores
- 18intellectual propertyrefers to tangible and intangible products of the mind for which the creator claims a property right
- 19podcastinga method of publishing audio or video broadcasts through the Internet, allowing subscribing users to download audio or video files onto their personal computers, smartphones, tablets, or portable music players
- 20streaminga 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
- 21market creatorsbuild a digital environment in which buyers and sellers can meet, display products, search for products, and establish prices
- 22community providerssites that create a digital online environment where people with similar interest 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
- 23advertising revenue modela website generates revenue by attracting a large audience of visitors who can then be exposed to advertisements
- 24micropayment systemsprovide content providers with a cost-effective method for processing high volumes of very small monetary transactions (anywhere from 25 cents to 5.00 per transaction)
- 25subscription revenue modela website offering content or services charges a subscription fee for access to some or all of its offerings on an ongoing basis
- 26free/freemium revenue modelfirms offer basic services or content for free and charge a premium for advanced or special features
- 27transaction fee revenue modelcompany receives a fee for enabling or executing a transaction
- 28affiliate revenue modelwebsites send visitors to other websites in return for a referral fee or percentage of the revenue from any resulting sales
- 29long tail marketingthe internet allows marketers to find potential customers inexpensively for products where demand is very low (white, long stem roses)
- 30behavioral targetingrefers to tracking the clickstreams (history of clicking behavior) of individuals on thousands of websites to understand their interests and intentions and expose them to advertisement that are uniquely suited to their online behavior
- 31social shoppingpinterest, swap shopping ideas with friends
- 32wisdom of crowdssome argue 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
- 33crowdsourcingbeyond merely soliciting advice, firms can be actively helped in solving some business problems by using ______________
- 34electronic data interchange (EDI)enables the computer to computer exchange between two organizations so standard transactions such as invoices, bills of lading, shipment schedules, or purchase orders
- 35private industrial networkstypically consist of a large firm using a secure website to link to its suppliers and other key business partners
- 36private exchangeanother term for a private industrial network
- 37net marketplacessometimes called e-hubs, provide a single, digital marketplace based on Internet technology for many buyers and sellers
- 38direct goodsgoods used in a production process, such as sheet steel for auto body production
- 39indirect goodsall other goods not directly involved in the production process, such as office supplies or products for maintenance and repair
- 40exchangesindependently owned third-party Net marketplaces that connect thousands of suppliers and buyers for spot purchasing
- 41location-based servicesinclude geosocial, geoadvertising, and geoinformation services. seventy-four percent of smartphone owners use __________________
- 42geosocial servicecan tell you where your friends are meeting
- 43geoadvertising servicescan tell you where to find the nearest italian restaurant
- 44geoinformation servicscan tell you the price of a house you are looking at or about special exhibits at a museum you are passing
- 45—
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- Flashcards on information systems-chapter 10, created by Kamron White on 17/11/2017.
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- Kamron White
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