MIS Quiz 5

monetize

A social media company's ability to make money from its application, service, or content.

ad-blocking software

A type of software that prevents ads from appearing on your computer screen

There is no formula for computing social capital a. True b. False

A. true

value of social capital

Value determined by the number of relationships in a social network, by the strength of those relationships, and by the resources controlled by those related.

conversion rate

measures the frequency that someone who clicks on an ad makes a purchase, "likes" a site, or takes some other action desired by the advertiser

Capital

money for investment

human capital

the skills and knowledge gained by a worker through education and experience

social network

the social ties radiating outward from the self that link people together

social media (sm)

the use of information technology to support the sharing of content among networks of users

B2C (business-to-consumer)

the process in which businesses sell to consumers

viral hook

An inducement that causes someone to share an ad, link, file, picture, movie, or other resource with friends and associates over the Internet.

social crm

CRM that includes social networking elements and gives the customer much more power and control in the customer/vendor relationship

social media providers

Companies that provide platforms that enable the creation of social networks. Facebook, Twitter, LinkedIn, and Google are all social media providers.

Content Data

In social media systems, data and responses to data that are contributed by users and SM sponsors.

content data

In social media systems, data and responses to data that are contributed by users and SM sponsors.

strength of a relationship

In social media, the likelihood that a person or other organization in a relationship will do something that will benefit the organization.

Users

Include both individuals and organizations that use SM sites to build social relationships

social media policy

Outlines the corporate guidelines or principles governing employee online communications

Influencers

People in an organization's buying center who affect the buying decision; they often help define specifications and also provide information for evaluating alternatives.

Social CRM

a dynamic, SM-based CRM process

Most social media companies earn revenue through advertising. a. True b. False

a. True

The primary difference between traditional CRM and social CRM is that social CRM is dynamic a. True b. False

a. True

Social Media Information System (SMIS)

an information system that supports the sharing of content among networks of users

The three primary social media roles are social media providers, users, and: a. Information Systems b. Communities c. Networks d. Decisions

b. Communities

Crowdsourcing is most common in B2B social media a. True b. False

b. False - (def:) dynamic social media process of employing users to participate in product design or product redesign

Social media has traditionally been most widely used in business-to-business (B2B) relationships a. True b. False

b. False - B2C

The investment of resources for future profit is known as social capital a. True b. False

b. False - Capital

Data about relationships is known as content data. a. True b. False

b. False - Connection data

The frequency with which someone clicks and makes a purchase is known as pay-per-click revenue model a. True b. False

b. False - Conversion rate

Offering certain services for free and then charging for premium services is known as the premium revenue model. a. True b. False

b. False - actually a Freemium

B2B (business-to-business)

the process of selling merchandise or services from one business to another

UGC (user generated content)

creative products, such as videos and music, generated by people who visit websites such as Facebook, YouTube, and Instagram

connection data

data about relationships

Communities

different populations that live together in a defined area

communities of practice

groups of employees who work together, learn from each other, and develop a common understanding of how to get work accomplished

crowd sourcing

inviting broad communities of people - customers, employees, independent scientists and researchers, and even the public at large - into the new product innovation process

social capital

the networks of relationships among people who live and work in a particular society, enabling that society to function effectively.

pay-per-click

revenue model in which advertisers display ads to potential customers for free and pay only when the customer clicks