Bis 270 Exam 1 - Milan Dhir
Marketing through social media
- can launch businesses into new levels of success - valuable way of following market trends - popular sites provide ways to connect with experts in the field
kilo
2^10
mega
2^20
Giga
2^30
Peta
2^50
Byte
8 bits
Microblogging
A form of blogging that allows users to write short messages (or capture an image or embedded video) and publish them.
Cinematch advantages
A map of user ratings to steer users towards titles preferred by people with similar tastes
Social Networks
Allow users to establish a personal profile and communicate with others
Porter's Five Forces Model
Bargaining power of customers, threat of substitutions, bargaining power of suppliers, threat of new entrants, rivalry
Amazon Web Services (AWS)
Basic infrastructure that Amazon employs to make the contents of its online catalog available to other Web sites or software applications
content adjacency
Concern that an advertisement will run near offensive material, embarrassing an advertiser and/or degrading their products or brands.
Windowing concept
Content is available to a given distribution channel for a specified time window
Competitive advantage of Facebook
Grounded in Network effects and switching costs
Powerful Resources
Imitation-resistant value chains, brand, scale, switching costs and data, differentiation, network effects, distribution channels, patents
Long tail phenomenon
In this context, refers to an extremely large selection of content or products
Web 2.0
Internet services that foster collaboration and information sharing
Competitive advantages of Netflix
Largest selection Largest Customer base Largest network of distribution centers
Two-sided market
Network markets comprised of two distinct categories of participant, both of which that are needed to deliver value for the network to work (e.g., video game console owners and developers of video games).
Strategic Positioning
Performing different tasks than rivals, or the same tasks in a different way.
Complementary Benefits
Products or services that add additional value to the primary product or service that makes up a network.
Agency pricing
Publisher sets the price and the reseller gets a cut
Amazon competitive advantage
Range, price, and convenience
Disintermediation
Removing an organization from a firm's distribution channel. Collapses the path between supplier and customer.
social graph
The global mapping of users and organizations and how they are connected.
Value chain model
The set of activities through which a product or service is created and delivered to customers.
SMART
The social media awareness and response team. A group tasked with creating policies and providing support, training, guidance, and development expertise for and monitoring of a firm's social media efforts.
Wikis
Website, that can be modified by anyone directly within a web browser, that serves as a shared knowledge repository
Straddling
When a firm attempts to match the benefits of a success position while maintaining its existing position
congestion effects
When increasing numbers of users lower the value of a product or service.
network effects
When the value of a product or service increases as its number of users expands
One-sided market
a market that derives most of its value from a single class of users
Scale Advantage
advantages related to size
switching costs
costs that make customers reluctant to switch to another product or service
e-waste
discarded electronic equipment such as computers, cell phones, television sets, etc.
Solutions Netflix offers
exclusive content greater selection ease of use
Resource-based thinking
helps to avoid entering markets simply because growth is spotted
Pillars of Amazon's business
large selection, customer experience, lower prices
Operational Effectiveness
performing the same tasks better than rivals perform them
Web 1.0
static, transaction-oriented web sites
Moore's Law
the observation that computing power roughly doubles every two years.
Bit
the single unit of information in a computer, typically represented as a 0 or 1.
Peer Production
when users collaboratively work to create content, products, and services
Solid state devices
Semi-conductor based devices. Often suffer fewer failures and require less energy
Open source software
Software that is free and where anyone can look at and potentially modify the code.
Grid computing
Special software to enable several computers to work together on a common problem
volatile memory
Storage that is wiped clean when power is cut off from a device
