Flashcards
Digital Business and E-Commerce Management
Flashcards do conjunto (180)
- 1Digital Technologies'a technology that changes the bases of competition by changing the performance metrics along which firms compete.'
- 2Inbound Marketingdescribes 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
- 3Zero Moment of TruthA 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.
- 4Content Marketingthe management of text, rich media, audio and video content aimed at engaging customers
- 5Search Marketingcompanies seek to improve their visibility in search engines for relevant search terms by increasing their presence in the search engine results pages
- 6Social Media Marketingmonitoring and facilitating customer-to-customer interaction and participation throughout the web to encourage positive engagement with a company and its brands
- 7m-Commerceelectronic transactions and communications conducted using mobile devices, with a wireless connection
- 8Buy Side e-Commerceinvolves all electronic business transactions between an organisation and its suppliers
- 9Sell‑Side e‑Commerceinvolves all electronic business transactions between an organisation and its customers
- 10e-Business (similar Digital Business)the transformation of key business processes through the use of Internet technology
- 11IntranetA private network within a single company using Internet standards to enable employees to access and share information using web publishing technology
- 12ExtranetIf 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
- 13Five types of Sell-Side e-Commerce1. Transactional e-Commerce
2. Services-oriented relationship-building
3. Brand-building sites
4. Publisher or media
5. Social network - 14Transactional e-Commercethe main business contribution of the site is through the sale of products
- 15Services-oriented relationship-buildingProvide information to stimulate purchase and build relationships, particularly where products are not suitable for sale online
- 16Brand-buildingProvide an experience to support the brand and products are not typically available online
- 17Publisher or mediaProvide information, news or entertainment about a range of topics
- 18Social network sitesThe influence of SNS on company and customer communications forms a separate category
- 19Digital Marketingmanagement and execution of marketing using electronic media and mobile media in conjunction with digital data about customers
- 20Paid Mediabought media where there is investment to pay for visitors, reach or conversions through search, display advertising networks or affiliate marketing
- 21Earned Mediapublicity generated through e.g., Word-of-Mouth targeting influencers to increase awareness about a brand
- 22Owned Mediamedia 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)
- 23six types of digital media channels1. Search Engine Marketing
2. Online PR
3. Online Partnerships
4. Interactive Advertising
5. Opt-in Email Marketing
6. Social Media Marketing - 24SEOsearch engine optimisation is a structured approach used to increase the position of a company or its products in search engine
- 25Omnichannelreferences the importance of social media and mobile based interactions in informing purchase
- 26Multichannel 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
- 27Gaining online customers- Characteristics and behaviour
- What they value
- What keeps them loyal
- Delivering tailored, relevant web and email communications - 28Web 2.0A collection of web services that facilitate interaction of web users with sites to create user generated content
- 29Supply Chain Management (SCM)is the coordination of all supply activities of an organisation from its suppliers and delivery of products to its customers
- 30Value chainis a model for analysis of how supply chain activities can add value to products and services delivered to the customer
- 31Value Networkmanage many interrelated value chains
- 32internal value chainwithin the boundaries of an organisation
- 33external value chainactivities which are performed by partners
- 34Benefits of Digital Business [main business drivers]1. Increased revenues [reach of a larger customer-base and encouraging loyalty]
2. Cost reduction - 35Risks of Digital BusinessSome 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
- 36Benefits of Online ServicesContent
Customisation
Community
Convenience - 37Barriers to Consumer Internet Adoption– No perceived benefit
– Lack of trust
– Security problems (fears)
– Lack of skills
– Cost of access - 38Question: Using smartphones or tables while watching TV, the process known asMulti-Screening
- 39Question: ------------------- is the coordination of all supply activities of an organisation from its suppliers and delivery of products to its customers.Supply Chain Management
- 40Question: ------- describes the different value-adding activities that connect a company’s supply side with its demand sideValue Chain
- 41Question: ------------ links between an organisation and its strategic and non‑strategicpartners.Value Networks
- 42Question: ---------- involves all electronic business transactions between an organisation and its customers.Sell-Side e-Commerce
- 43Question: --------- involves all electronic business transactions between an organisation and its suppliers.Buy-Side e-Commerce
- 44On 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
- 45Question: ---- is the capacity to respond to the environmental opportunities and threats.Strategic Agility
- 46multi-screeningUsing smartphones or tablets
while watching TV - 47Online intermediariesWebsites which help connect web users with content they are seeking on destination sites
- 48Situation analysiscollection and review of information about an organisation’s external environment and internal processes and resources in order to inform its strategies
- 49environmental scanningProcess to continually monitor the environment and events and responding accordingly
- 50Strategic Agilitycapacity to respond to the environmental opportunities and threats
(selecting the appropriate strategy) - 51Click EcosystemDescribes the customer behaviour or flow of online visitors between search engines, media sites, other intermediaries to an organisation and its competitors
- 52Online Business Model- how a company will generate a profit
- core product or service value proposition
- target customers - 53Revenue 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 - 54Canvas building blocks1. Value Proposition
2. Customer Segment
3. Customer Relationships
4. Channels
5. Key Partners
6. Activities
7. Resources
8. Cost Structure
9. Revenue Stream - 55Digital Business Infrastructurehardware and the software applications
used to deliver services
[desktop and mobile platforms] - 56Mobile Platforms C0mponents1. Mobile operating system and browser
2. Mobile applications - 57Management Issues for Digital Strategy- Domain
- hosting services, including cloud providers
- SaaS (Software-as-a-Service) platform - 58URLUniform (universal) resource locator(URL)
- 59Integrating of different applications through ERP (enterprise resource planning)– digital business applications must facilitate the integration of the whole supply chain and value chain
- 60Infrastructure as a Service (IaaS)hardware used to provide support for end-user applications is outsourced and paid for according to level of usage
- 61Semantic Webis a concept to improve upon the capabilities of the current World Wide Web
(meaning of words) - 62Software as a Service (SaaS)providers are increasingly important as businesses look to reduce infrastructure costs and improve service delivery
- 63macro-environmental forces [SLEPT]1. Social factors
2. Legal and ethical factors
3. Economic factors
4. Political
5. Technological factors - 64different factors that affect how many people actively use the Internet– Cost of access
– Value proposition
– Ease of use
– Security
– Fear of the unknown - 65customers’ online buyer behaviour1. Research (Information acquisition)
2. Communication (Socialisation)
3. Surfing (Entertainment)
4. Shopping - 66Variation in B2B1. 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 - 67Ethical issues e-commerce1. Privacy
2. Accuracy
3. Property
4. Accessibility - 68Identity theftthe misappropriation of the identity of another person without their knowledge or consent
- 69IPRIntellectual Property Rights
- 70Gartner Hype Cycle1. Technology trigger
2. Peak of inflated expectations
3. Trough of disillusionment
4. Slope of enlightenment
5. Plateau of productivity - 71Rapid variationtechnology requires constant monitoring of adoption of the technology by customers, competitors and appropriate responses
- 72different levels of strategy• Corporate strategy
• Business unit strategy
• Operational strategies
• Functional strategies - 73Failure in Digital Business Strategy- Missed opportunities
- Inappropriate direction
- Limited integration
- Resource wastage - 74Digital e-Channel StrategiesMultichannel strategy
Mobile Commerce strategy
Social Media strategy
Social CRM strategy
Supply Chain or (ERP) strategy
e-Procurement strategy - 75Omnichannelreferences the importance of customer touchpoints on social media and mobile platforms
- 76strategy process modelprovides a framework that gives a logical sequence to follow to ensure inclusion of all key activities of digital business strategy development
- 77PSA - Prescriptive strategy approachanalysis is used to develop a strategy, and it is then implemented (in other words, the strategy is prescribed in advance)
- 78ESA - Emergent strategy approachstrategic development and strategy implementation are interrelated
- 79micro-environmentincluding customer demand and behaviour, competitor activity, marketplace structure and relationships with suppliers, partners and intermediaries
- 80macro-environmentin which a company operates (this includes the social, legal, economic and political factors)
- 81benchmarkingIn 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
- 82SWOTHelps organisations analyse their internal resources in terms of strengths and weaknesses and match them against the external environment in terms of opportunities and threats
- 83Resource Analysis Human resources
Financial resources - 84Competitive 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 - 85suppliers tool EDI (electronic data interchange)to process orders reducing cost and increasing supply chain efficiency
- 86mission and vision Business scope (where?)
Unique competencies (how?)
Values (why?) - 87Digital business objectivesEfficiency is ‘doing the thing right’
Effectiveness is ‘doing the right thing’ - 88SMART FrameworkSpecific
Measurable
Actionable
Relevant
Time‑related - 89ORConline revenue contribution
ORC states the percentage of company revenue directly generated through online transactions - 908 key digital business strategic decisionsDecision 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 - 91classic mistakes for igital business strategy Situation analysis
Objective setting
Strategy definition
Implementation - 92Digital Business Strategy Success Factors1. Content
2. Convenience
3. Control
4. Interaction
5. Community
6. Price sensitivity
7. Brand image
8. Commitment
9. Partnership
10. Process improvement
11. Integration - 93Question: is a software application designed for use on a mobile phone, typically downloaded from App storesMobile Application
- 94Question: applications are software providing integrated functions for major business functions such as production, distribution, sales, finance and human resources management.Enterprise resource planning (ERP)
- 95Question: 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)
- 96Question: refers to the combination of networking and data storage hardware and software hosted externally to a companyCloud Computing
- 97Question: refers to the principle of provision of equal access to different Internet services by telecommunications service providersNet neutrality
- 98Question: refers to the misappropriation of the identity of another person without their knowledge or consentIdentity theft
- 99Question: Tailoring e-commerce services for individual countries or regions is referred tolocalisation
- 100Question: refers to the move towards international trading in a single global marketplaceGlobalisation
- 101ECREfficient Consumer Response
- 102Inventory Turnovermeasure of the number of times inventory is sold or used
- 103Supply Chain Management (SCM)is the coordination of all supply activities of an organisation from its suppliers and partners to its customers
- 104Upstream supply chaintransactions between an organisation and its suppliers and intermediaries, equivalent to Buy-side e-Commerce
- 105Downstream supply chaintransactions between an organisation and its customers and intermediaries, equivalent to Sell-side e-Commerce
- 106Inbound logisticsis the management of material and resources entering an organisation from its suppliers and other partner
- 107Outbound logistics- the management of resources supplied from an organisation to its customers and intermediaries
- 108push models push orientedsupply chain that emphasises distribution of a product to passive customers
- 109pull model pull‑orientedsupply chain that utilises the supply chain to deliver value to customers who are actively involved in product
- 110Value ChainThe value chain is a model that describes different value adding activities that connect a company’s supply side with its demand side
- 111Procurementrefers 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
- 112e-Procurementelectronic integration of all procurement activities. It's intended to achieve reduced purchasing cycle time and cost savings
- 113Procurement1. 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 - 1145 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 - 115manufacturing of productsproduction related procurement
- 116Operating or non-production relatedprocurement that supports the operations of the whole business includes
- 117Eight types of intermediary e-Procurement strategy1. 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 - 118five key drivers or suppliers’ selection criteria for e-Procurement adoption1. Control
2. Cost
3. Process
4. Individual performance
5. Supplier management - 119e-Procurement: Process Efficiency and Strategic Benefits1. Planning
2. Development
3. Production
4. Inbound
5. Outbound
6. vendor managed inventory (VMI) - 120Digital marketingis focussed on how a company and its brands use its website together with other digital platforms and media
- 121Three main operational processes1. Customer Acquisition
2. Customer Conversion
3. Customer Retention and Growth - 122align digital marketing strategy with the business strategy1. Cost reduction and value chain efficiencies
2. Revenue generation
3. Channel partnership
4. Communications and branding - 123Marketingis the management process responsible for identifying, anticipating and satisfying customer requirements profitability
- 124How Do e-Tools Support Marketing? Identifying
Anticipating
Satisfying - 125Feedback Tools1. 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 - 126 Digital marketinghave a broader scope since it refers to any use of technology to achieve marketing objectives
Sell side e Commerce - 127 Inbound MarketingThe consumer is proactive in actively seeking out information for their needs and interactions with brands - content, search and social media marketing
- 128competitor benchmarkingbenchmarking is not a one-off activity while developing a strategy, but needs to be continuous
- 129Disintermediationopportunity to sell direct
- 130Re-intermediationPurchasers of products still needed assistance in the selection of products
- 131Strategies for Target MarketThe strategy element of a digital marketing plan defines how digital marketing objectives will be achieved
- 132Marketing Mix Tactics– Product, Price, Place and Promotion
» People
» Processes
» Physical - 133Counter-mediationCounter-mediation can be defined as “creation of a new intermediary by an established company.”
- 134 Brandingis successful when the buyer or user perceives relevant unique added values which match their needs most closely
- 135characteristics of a successful brand1. 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 - 136‘6 Is’ of digital marketing1. Interactivity
2. Intelligence
3. Individualisation
4. Integration
5. Industry Restructuring
6. Independence of Location - 1371. InteractivityThe Internet should be used to encourage two-way communication
- 1382. IntelligenceInternet can be used as a relatively low-cost method of collecting marketing information
- 1393. IndividualizationThe interactive marketing communications can be tailored to the individuals
- 1404. IntegrationInternet provides further scope for integrated marketing communications
- 1415. Industry Restructuring– it becomes very important to consider the company’s representation on these intermediary sites
- 1426. Independence of Location Electronic media also introduce the possibility of increasing the reach of company communications to the global market
- 143 Marketing objectivedefined as the management process responsible for identifying, anticipating and satisfying customer requirements profitably
- 144 Situation analysisinvolves a consideration of the external environment with the emphasis on levels of customer access to the Internet, benchmarking of competitors and new entrants
- 145 Objective settinga key objective is setting the online revenue contribution or the percentage of sales that will be achieved online
- 146 Controlcan be achieved through monitoring customer satisfaction and channel performance via the website and traditional channels
- 147Customer Relationship Management (CRM)is the key element of digital business success
long-term relationship
sustainable business profitability - 148 Customer acquisitionrefers to marketing activities intended to form relationships with new customers while minimising acquisition costs and targeting high-value customers
- 149Upsellingis a sales technique whereby a seller induces the customer to purchase more expensive items
- 150cross-sellinga seller tries to sell additional product or service
- 151 Customer selectiondefining the types of customers that a company will market to
- 152 Customer life-cycledescribes the progression of steps a customer goes through when considering, purchasing, using, and maintaining loyalty to a product or service
- 153Customer retentionrefers to the marketing activities taken by an organisation to keep its existing customers
- 154 Customer extensionrefers to increasing the depth or range of products that a customer purchases from a company, also referred to as customer development
- 155 Sales force automation (SFA)sales representatives are supported in their account management through tools to arrange and record customer visits
- 156 e-CRM– Customer databases provide a foundation for storing information about the relationship and providing information to strengthen relationship by improved and personalised services
- 157 Personalisationdelivering customised content for the individual through web pages, email or push technology
- 158 Mass customisationthe creation of tailored marketing messages or products for individual customers or groups of customers
- 159 Social CRMthe process of managing C2C conversations to engage existing customers, prospects and other stakeholders with a brand to enhance CRM
- 160 Customer centric marketingthis is based on customer behaviour within the target audience and then seeks to fulfil the needs and wants of each individual customer
- 161Customer 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
- 162Permission Marketingseeking the customer’s permission before engaging them in a relationship and providing something in exchange
- 163Customer Profiling It is essential to build a customer profile that details each customer’s product interest, demographics or role in the buying decision
- 164 Conversion marketingUsing marketing communications to maximise conversion of potential customers to actual customers and existing customers to repeat customers
- 165 Conversion marketing1. Reach:
2. Act:
3. Convert:
4. Engage: - 166Customer Acquisition Management1. the use of the website to acquire new customers
2. encouraging existing customers to migrate - 167 Social media marketing– Involves encouraging customer to communicate through a company’s own site, or social presences such as Facebook or Twitter
- 168 Introduction of digital businessrequires company staff to learn how to use new internal Information Systems, and new methods of working
- 169Key Change Management Issues Scheduling
Budgeting
Resources needed
Organisational structures
Managing the human impact of change
Technologies to support digital business change
Risk management - 170 Incremental changeinvolves relatively small adjustments required by changes in the business environment
- 171 Discontinuous change or transformational changeinvolves a major change in the business environment which changes the basis for competition
- 172 Business process re-engineering (BPR):identifying radical, new ways of carrying out business operations, often enabled by new IT capabilities
- 173Planning Change Initiation
Feasibility analysis
Analysis and design phases
Final Stage - 174 Ad hoc activityat this stage there is no formal unit related to e‐Commerce and the skills are dispersed around the organisation
- 175 Focussing the effortat this stage, efforts are made to introduce a controlling mechanism for Internet marketing
- 176 Formalisationat 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
- 177 Institutionalising capabilitythis stage also involves a formal grouping within the organisation, with formal links created between digital marketing and a company’s core activities
- 178 Explicitdetails of processes and procedures
- 179 Tacitless tangible than explicit knowledge, this is experience on how to react to a situation when many different variables are involved
- 180Risk Management Identify risks including their probabilities and impacts
– Willingness to share knowledge
– Rate of expansion
– Identify possible solutions to these risks
Informações
- Descrição
- Implementation and Practice Sixth edition by Dave Chaffey
- Criado por
- Suellen Cavalheiro
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