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Description
Flashcards by Suellen Cavalheiro, updated more than 1 year ago
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Created by Suellen Cavalheiro
over 6 years ago
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| Question | Answer |
| Digital Technologies | 'a technology that changes the bases of competition by changing the performance metrics along which firms compete.' |
| Inbound Marketing | describes the use of integrated content, social media and search marketing to influence consumers as they select products, referred to as the Zero Moment of Truth |
| Zero Moment of Truth | A summary of today’s multichannel consumer decision‑ making for product purchase where they search, review ratings, styles, prices and comments on social media before visiting a retailer. |
| Content Marketing | the management of text, rich media, audio and video content aimed at engaging customers |
| Search Marketing | companies seek to improve their visibility in search engines for relevant search terms by increasing their presence in the search engine results pages |
| Social Media Marketing | monitoring and facilitating customer-to-customer interaction and participation throughout the web to encourage positive engagement with a company and its brands |
| m-Commerce | electronic transactions and communications conducted using mobile devices, with a wireless connection |
| Buy Side e-Commerce | involves all electronic business transactions between an organisation and its suppliers |
| Sell‑Side e‑Commerce | involves all electronic business transactions between an organisation and its customers |
| e-Business (similar Digital Business) | the transformation of key business processes through the use of Internet technology |
| Intranet | A private network within a single company using Internet standards to enable employees to access and share information using web publishing technology |
| Extranet | If access to an organisation’s web services is extended to some others (e.g., suppliers, customers and collaborators), but not everyone beyond the organisation, this is an extranet |
| Five types of Sell-Side e-Commerce | 1. Transactional e-Commerce 2. Services-oriented relationship-building 3. Brand-building sites 4. Publisher or media 5. Social network |
| Transactional e-Commerce | the main business contribution of the site is through the sale of products |
| Services-oriented relationship-building | Provide information to stimulate purchase and build relationships, particularly where products are not suitable for sale online |
| Brand-building | Provide an experience to support the brand and products are not typically available online |
| Publisher or media | Provide information, news or entertainment about a range of topics |
| Social network sites | The influence of SNS on company and customer communications forms a separate category |
| Digital Marketing | management and execution of marketing using electronic media and mobile media in conjunction with digital data about customers |
| Paid Media | bought media where there is investment to pay for visitors, reach or conversions through search, display advertising networks or affiliate marketing |
| Earned Media | publicity generated through e.g., Word-of-Mouth targeting influencers to increase awareness about a brand |
| Owned Media | media owned by the brand in both online and offline (company’s own websites, blogs, email list, mobile apps or their social presence on SNS, brochures or retail stores) |
| six types of digital media channels | 1. Search Engine Marketing 2. Online PR 3. Online Partnerships 4. Interactive Advertising 5. Opt-in Email Marketing 6. Social Media Marketing |
| SEO | search engine optimisation is a structured approach used to increase the position of a company or its products in search engine |
| Omnichannel | references the importance of social media and mobile based interactions in informing purchase |
| Multichannel Marketing Strategy [MMS] | defines how different marketing channels should integrate and support each other in terms of their proposition development and communications based on their relative merits |
| Gaining online customers | - Characteristics and behaviour - What they value - What keeps them loyal - Delivering tailored, relevant web and email communications |
| Web 2.0 | A collection of web services that facilitate interaction of web users with sites to create user generated content |
| Supply Chain Management (SCM) | is the coordination of all supply activities of an organisation from its suppliers and delivery of products to its customers |
| Value chain | is a model for analysis of how supply chain activities can add value to products and services delivered to the customer |
| Value Network | manage many interrelated value chains |
| internal value chain | within the boundaries of an organisation |
| external value chain | activities which are performed by partners |
| Benefits of Digital Business [main business drivers] | 1. Increased revenues [reach of a larger customer-base and encouraging loyalty] 2. Cost reduction |
| Risks of Digital Business | Some companies have invested in digital business without achieving the hoped-for returns, either because the execution of the plan was flawed, or simply because the approaches were inappropriate |
| Benefits of Online Services | Content Customisation Community Convenience |
| Barriers to Consumer Internet Adoption | – No perceived benefit – Lack of trust – Security problems (fears) – Lack of skills – Cost of access |
| Question: Using smartphones or tables while watching TV, the process known as | Multi-Screening |
| Question: ------------------- is the coordination of all supply activities of an organisation from its suppliers and delivery of products to its customers. | Supply Chain Management |
| Question: ------- describes the different value-adding activities that connect a company’s supply side with its demand side | Value Chain |
| Question: ------------ links between an organisation and its strategic and non‑strategicpartners. | Value Networks |
| Question: ---------- involves all electronic business transactions between an organisation and its customers. | Sell-Side e-Commerce |
| Question: --------- involves all electronic business transactions between an organisation and its suppliers. | Buy-Side e-Commerce |
| On the Internet, it is often the customer initiates contact and is seeking information through searching on a website, this is referred to as: | Pull mechanism |
| Question: ---- is the capacity to respond to the environmental opportunities and threats. | Strategic Agility |
| multi-screening | Using smartphones or tablets while watching TV |
| Online intermediaries | Websites which help connect web users with content they are seeking on destination sites |
| Situation analysis | collection and review of information about an organisation’s external environment and internal processes and resources in order to inform its strategies |
| environmental scanning | Process to continually monitor the environment and events and responding accordingly |
| Strategic Agility | capacity to respond to the environmental opportunities and threats (selecting the appropriate strategy) |
| Click Ecosystem | Describes the customer behaviour or flow of online visitors between search engines, media sites, other intermediaries to an organisation and its competitors |
| Online Business Model | - how a company will generate a profit - core product or service value proposition - target customers |
| Revenue Model: Online Publisher and Intermediary | • CPM (cost-per-thousand) • CPC ( cost-per-click) • CPA ( cost-per-acquisition) • Transaction fee revenue • Subscription access to content or services |
| Canvas building blocks | 1. Value Proposition 2. Customer Segment 3. Customer Relationships 4. Channels 5. Key Partners 6. Activities 7. Resources 8. Cost Structure 9. Revenue Stream |
| Digital Business Infrastructure | hardware and the software applications used to deliver services [desktop and mobile platforms] |
| Mobile Platforms C0mponents | 1. Mobile operating system and browser 2. Mobile applications |
| Management Issues for Digital Strategy | - Domain - hosting services, including cloud providers - SaaS (Software-as-a-Service) platform |
| URL | Uniform (universal) resource locator(URL) |
| Integrating of different applications through ERP (enterprise resource planning) | – digital business applications must facilitate the integration of the whole supply chain and value chain |
| Infrastructure as a Service (IaaS) | hardware used to provide support for end-user applications is outsourced and paid for according to level of usage |
| Semantic Web | is a concept to improve upon the capabilities of the current World Wide Web (meaning of words) |
| Software as a Service (SaaS) | providers are increasingly important as businesses look to reduce infrastructure costs and improve service delivery |
| macro-environmental forces [SLEPT] | 1. Social factors 2. Legal and ethical factors 3. Economic factors 4. Political 5. Technological factors |
| different factors that affect how many people actively use the Internet | – Cost of access – Value proposition – Ease of use – Security – Fear of the unknown |
| customers’ online buyer behaviour | 1. Research (Information acquisition) 2. Communication (Socialisation) 3. Surfing (Entertainment) 4. Shopping |
| Variation in B2B | 1. Size of company (employees or turnover) 2. Industry sector and products 3. Organisation type (private, public, government, not-for-profit) 4. Division 5. Country and region |
| Ethical issues e-commerce | 1. Privacy 2. Accuracy 3. Property 4. Accessibility |
| Identity theft | the misappropriation of the identity of another person without their knowledge or consent |
| IPR | Intellectual Property Rights |
| Gartner Hype Cycle | 1. Technology trigger 2. Peak of inflated expectations 3. Trough of disillusionment 4. Slope of enlightenment 5. Plateau of productivity |
| Rapid variation | technology requires constant monitoring of adoption of the technology by customers, competitors and appropriate responses |
| different levels of strategy | • Corporate strategy • Business unit strategy • Operational strategies • Functional strategies |
| Failure in Digital Business Strategy | - Missed opportunities - Inappropriate direction - Limited integration - Resource wastage |
| Digital e-Channel Strategies | Multichannel strategy Mobile Commerce strategy Social Media strategy Social CRM strategy Supply Chain or (ERP) strategy e-Procurement strategy |
| Omnichannel | references the importance of customer touchpoints on social media and mobile platforms |
| strategy process model | provides a framework that gives a logical sequence to follow to ensure inclusion of all key activities of digital business strategy development |
| PSA - Prescriptive strategy approach | analysis is used to develop a strategy, and it is then implemented (in other words, the strategy is prescribed in advance) |
| ESA - Emergent strategy approach | strategic development and strategy implementation are interrelated |
| micro-environment | including customer demand and behaviour, competitor activity, marketplace structure and relationships with suppliers, partners and intermediaries |
| macro-environment | in which a company operates (this includes the social, legal, economic and political factors) |
| benchmarking | In the process of best practice benchmarking, management identifies the best firms in their industry, or in another industry where similar processes exist, and compares the results and processes of those studied (the "targets") to one's own results and processes |
| SWOT | Helps organisations analyse their internal resources in terms of strengths and weaknesses and match them against the external environment in terms of opportunities and threats |
| Resource Analysis | Human resources Financial resources |
| Competitive Threats Michael Porter (1990) | – Bargaining power of buyers – Bargaining power of suppliers – Threats of substitute products and services – Barriers to entry – Rivalry amongst existing competitors |
| suppliers tool EDI (electronic data interchange) | to process orders reducing cost and increasing supply chain efficiency |
| mission and vision | Business scope (where?) Unique competencies (how?) Values (why?) |
| Digital business objectives | Efficiency is ‘doing the thing right’ Effectiveness is ‘doing the right thing’ |
| SMART Framework | Specific Measurable Actionable Relevant Time‑related |
| ORC | online revenue contribution ORC states the percentage of company revenue directly generated through online transactions |
| 8 key digital business strategic decisions | Decision 1: Digital Business Channel Priorities Decision 2: Market and Product Development Strategies 1- Market Penetration 2- Market Development 3- Product Development 4- Diversification Decision 3: Positioning Differentiation Strategies Decision 4: Business, Service and Revenue Models Decision 5: Marketplace Restructuring Decision 6: Supply Chain Management Capabilities Decision 7: Internal Knowledge Management Capabilities Decision 8: Organizational Resourcing and Capabilities |
| classic mistakes for igital business strategy | Situation analysis Objective setting Strategy definition Implementation |
| Digital Business Strategy Success Factors | 1. Content 2. Convenience 3. Control 4. Interaction 5. Community 6. Price sensitivity 7. Brand image 8. Commitment 9. Partnership 10. Process improvement 11. Integration |
| Question: is a software application designed for use on a mobile phone, typically downloaded from App stores | Mobile Application |
| Question: applications are software providing integrated functions for major business functions such as production, distribution, sales, finance and human resources management. | Enterprise resource planning (ERP) |
| Question: refers to hardware used to provide support for end-user applications which is outsourced and paid for according to level of usage. | Infrastructure as a Service (SaaS) |
| Question: refers to the combination of networking and data storage hardware and software hosted externally to a company | Cloud Computing |
| Question: refers to the principle of provision of equal access to different Internet services by telecommunications service providers | Net neutrality |
| Question: refers to the misappropriation of the identity of another person without their knowledge or consent | Identity theft |
| Question: Tailoring e-commerce services for individual countries or regions is referred to | localisation |
| Question: refers to the move towards international trading in a single global marketplace | Globalisation |
| ECR | Efficient Consumer Response |
| Inventory Turnover | measure of the number of times inventory is sold or used |
| Supply Chain Management (SCM) | is the coordination of all supply activities of an organisation from its suppliers and partners to its customers |
| Upstream supply chain | transactions between an organisation and its suppliers and intermediaries, equivalent to Buy-side e-Commerce |
| Downstream supply chain | transactions between an organisation and its customers and intermediaries, equivalent to Sell-side e-Commerce |
| Inbound logistics | is the management of material and resources entering an organisation from its suppliers and other partner |
| Outbound logistics | - the management of resources supplied from an organisation to its customers and intermediaries |
| push models push oriented | supply chain that emphasises distribution of a product to passive customers |
| pull model pull‑oriented | supply chain that utilises the supply chain to deliver value to customers who are actively involved in product |
| Value Chain | The value chain is a model that describes different value adding activities that connect a company’s supply side with its demand side |
| Procurement | refers to all activities involved with obtaining items from a supplier, including purchasing, also inbound logistics such as transportation, goods in and warehousing before the item is used |
| e-Procurement | electronic integration of all procurement activities. It's intended to achieve reduced purchasing cycle time and cost savings |
| Procurement | 1. searching and specification of product by the end user 2. purchasing by the buyer 3. payment by an accountant 4. receipt and distribution of goods within a warehouse |
| 5 Rights of e-Procurement | • At the right price • Delivered at the right time • Of the right quality • Of the right quantity • From the right source |
| manufacturing of products | production related procurement |
| Operating or non-production related | procurement that supports the operations of the whole business includes |
| Eight types of intermediary e-Procurement strategy | 1. Traditional Manufacturers 2. Direct Sales Manufacturers 3. Value-Added Procurement Partners 4. Online Hubs 5. Knowledge Experts 6. Online Information Services 7. Online Retailers 8. Portal Communities |
| five key drivers or suppliers’ selection criteria for e-Procurement adoption | 1. Control 2. Cost 3. Process 4. Individual performance 5. Supplier management |
| e-Procurement: Process Efficiency and Strategic Benefits | 1. Planning 2. Development 3. Production 4. Inbound 5. Outbound 6. vendor managed inventory (VMI) |
| Digital marketing | is focussed on how a company and its brands use its website together with other digital platforms and media |
| Three main operational processes | 1. Customer Acquisition 2. Customer Conversion 3. Customer Retention and Growth |
| align digital marketing strategy with the business strategy | 1. Cost reduction and value chain efficiencies 2. Revenue generation 3. Channel partnership 4. Communications and branding |
| Marketing | is the management process responsible for identifying, anticipating and satisfying customer requirements profitability |
| How Do e-Tools Support Marketing? | Identifying Anticipating Satisfying |
| Feedback Tools | 1. Website feedback tools 2. Site user intent-satisfaction surveys 3. Crowdsourcing product opinion software 4. Simple page or concept feedback tools 5. General online survey tools |
| Digital marketing | have a broader scope since it refers to any use of technology to achieve marketing objectives Sell side e Commerce |
| Inbound Marketing | The consumer is proactive in actively seeking out information for their needs and interactions with brands - content, search and social media marketing |
| competitor benchmarking | benchmarking is not a one-off activity while developing a strategy, but needs to be continuous |
| Disintermediation | opportunity to sell direct |
| Re-intermediation | Purchasers of products still needed assistance in the selection of products |
| Strategies for Target Market | The strategy element of a digital marketing plan defines how digital marketing objectives will be achieved |
| Marketing Mix Tactics | – Product, Price, Place and Promotion » People » Processes » Physical |
| Counter-mediation | Counter-mediation can be defined as “creation of a new intermediary by an established company.” |
| Branding | is successful when the buyer or user perceives relevant unique added values which match their needs most closely |
| characteristics of a successful brand | 1. dependent on customer perception 2. perception is influenced by the added-value characteristics of the product 3. the added-value characteristics need to be sustainable |
| ‘6 Is’ of digital marketing | 1. Interactivity 2. Intelligence 3. Individualisation 4. Integration 5. Industry Restructuring 6. Independence of Location |
| 1. Interactivity | The Internet should be used to encourage two-way communication |
| 2. Intelligence | Internet can be used as a relatively low-cost method of collecting marketing information |
| 3. Individualization | The interactive marketing communications can be tailored to the individuals |
| 4. Integration | Internet provides further scope for integrated marketing communications |
| 5. Industry Restructuring | – it becomes very important to consider the company’s representation on these intermediary sites |
| 6. Independence of Location | Electronic media also introduce the possibility of increasing the reach of company communications to the global market |
| Marketing objective | defined as the management process responsible for identifying, anticipating and satisfying customer requirements profitably |
| Situation analysis | involves a consideration of the external environment with the emphasis on levels of customer access to the Internet, benchmarking of competitors and new entrants |
| Objective setting | a key objective is setting the online revenue contribution or the percentage of sales that will be achieved online |
| Control | can be achieved through monitoring customer satisfaction and channel performance via the website and traditional channels |
| Customer Relationship Management (CRM) | is the key element of digital business success long-term relationship sustainable business profitability |
| Customer acquisition | refers to marketing activities intended to form relationships with new customers while minimising acquisition costs and targeting high-value customers |
| Upselling | is a sales technique whereby a seller induces the customer to purchase more expensive items |
| cross-selling | a seller tries to sell additional product or service |
| Customer selection | defining the types of customers that a company will market to |
| Customer life-cycle | describes the progression of steps a customer goes through when considering, purchasing, using, and maintaining loyalty to a product or service |
| Customer retention | refers to the marketing activities taken by an organisation to keep its existing customers |
| Customer extension | refers to increasing the depth or range of products that a customer purchases from a company, also referred to as customer development |
| Sales force automation (SFA) | sales representatives are supported in their account management through tools to arrange and record customer visits |
| e-CRM | – Customer databases provide a foundation for storing information about the relationship and providing information to strengthen relationship by improved and personalised services |
| Personalisation | delivering customised content for the individual through web pages, email or push technology |
| Mass customisation | the creation of tailored marketing messages or products for individual customers or groups of customers |
| Social CRM | the process of managing C2C conversations to engage existing customers, prospects and other stakeholders with a brand to enhance CRM |
| Customer centric marketing | this is based on customer behaviour within the target audience and then seeks to fulfil the needs and wants of each individual customer |
| Customer Engagement | Repeated interactions that strengthen the emotional, psychological or physical investment a customer has in a brand Enhancing the level of involvement, interaction, intimacy, and influence an individual has with a brand over time |
| Permission Marketing | seeking the customer’s permission before engaging them in a relationship and providing something in exchange |
| Customer Profiling | It is essential to build a customer profile that details each customer’s product interest, demographics or role in the buying decision |
| Conversion marketing | Using marketing communications to maximise conversion of potential customers to actual customers and existing customers to repeat customers |
| Conversion marketing | 1. Reach: 2. Act: 3. Convert: 4. Engage: |
| Customer Acquisition Management | 1. the use of the website to acquire new customers 2. encouraging existing customers to migrate |
| Social media marketing | – Involves encouraging customer to communicate through a company’s own site, or social presences such as Facebook or Twitter |
| Introduction of digital business | requires company staff to learn how to use new internal Information Systems, and new methods of working |
| Key Change Management Issues | Scheduling Budgeting Resources needed Organisational structures Managing the human impact of change Technologies to support digital business change Risk management |
| Incremental change | involves relatively small adjustments required by changes in the business environment |
| Discontinuous change or transformational change | involves a major change in the business environment which changes the basis for competition |
| Business process re-engineering (BPR): | identifying radical, new ways of carrying out business operations, often enabled by new IT capabilities |
| Planning Change | Initiation Feasibility analysis Analysis and design phases Final Stage |
| Ad hoc activity | at this stage there is no formal unit related to e‐Commerce and the skills are dispersed around the organisation |
| Focussing the effort | at this stage, efforts are made to introduce a controlling mechanism for Internet marketing |
| Formalisation | at this stage Internet marketing will have reached a critical mass and there will be a defined group or separate business unit within the company which manages all digital marketing |
| Institutionalising capability | this stage also involves a formal grouping within the organisation, with formal links created between digital marketing and a company’s core activities |
| Explicit | details of processes and procedures |
| Tacit | less tangible than explicit knowledge, this is experience on how to react to a situation when many different variables are involved |
| Risk Management | Identify risks including their probabilities and impacts – Willingness to share knowledge – Rate of expansion – Identify possible solutions to these risks |
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