AMD 375 Exam 1

Define mobile platform and cloud computing; Identify their impact on apparel, hospitality, and events industries. pg.126

-Cloud Computing: model of computing in which computer processing, storage, software, and other services are provided as a shared pool of virtualized resources over the internet -Mobile Platform: influences how, where and when consumers shop and buy

Define and recognize the different types of e-commerce business models. pg.74

-E-tailor: online business store -Community Provider: creates an online environment where people with similar interests can transact(buy and sell goods), share interests, photos and videos; communicate with like minded people; and receive interest-related information ex-facebook, linkedin, pinterest ec -Content Provider: distributes information content, such as digital news, music, photos, video, and artwork -Portal: offers users powerful search tools as well as an integrated package of content and services in one place ex. yahoo, msn, aol -Transaction Broker: processes transactions for consumers that are normally handled in person, by phone, or by mail -Market Creator: builds a digital environment where buyers and sellers can meet, display products, search for products, and establish a price for products -Service Provider: offers services online

Explain the current structure of Internet technologies and identify the limitation of current Internet technologies. pg.182

-The main structural elements of the Internet are the backbone (composed primarily of high-bandwidth fiber optic cable), IXPs (hubs that use high-speed switching computers to connect to the backbone), CANs (campi corporate area networks), ISPs (which deal with Internet access of service to homes and offices), and the mobile platform, which provides Internet access via cellular telephone networks and Wi-Fi networks. -The Internet of Things (IoT) builds on a foundation of existing technologies, such as RFID tags, low-cost ser sors, inexpensive data storage, big data analytics software, and IPv6, to power the development of a host of smart connected "things." -Governing bodies, such as IAB, ICANN, IESG, IETE, ISOC, and W3C, have influence over the Internet and m tor its operations, although they do not control it.

Identify and define the eight features of Internet technology and discuss the significance of each feature in apparel, hospitality, and events business. pg.17, 51

-Ubiquity: available just about everywhere, at all times. -Global reach: the total number of users or customers an e-commerce business can obtain -Universal Standards: standards that are shared by all nations around the world -Richness: the complexity and content of a message -Interactivity: technology that allows for two-way communication between merchant and consumer -Information Density: the total amount and quality of information available to all market participants -Personalizations and Customization: the targeting of marketing messages to specific individuals by adjusting the message to a persons name, interests, and past purchases; changing the delivered product or service based on a users preferences or prior behavior -Social Technology:

Understand and identify the eight key elements of a successful business model. pg.58

-Value Proposition: how a companies product or service fulfills the needs of the customer -Revenue Model- how the firm will earn revenue, produce profits, and produce a superior return on invested capitol -Market Opportunity: the companies intended marketspace and the overall potential financial opportunities available to the firm in that marketspace -Competitive Environment: refers to the other companies operating in the same marketspace selling similar products -Competitive Advantage: achieved by a firm when it can produce a superior product and/or bring the product to market at a lower price than most, or all, of its competitors -Market Strategy- the plan you put together that details exactly how you intend to enter a new market and attract new customers -Management Team: employees of the company responsible for making the business model work

Define and differentiate e-commerce and e-business. Discuss the significance of e-commerce in apparel, hospitality and events business. pg.9

-e-commerce: the use of the internet, the web, and mobile apps and browsers running on mobile devices to transact business. more formally, digitally enabled commercial transactions between and among organizations and individuals. -e-business: the digital enabling of transactions and processes within a firm, involving information systems under the control of the firm. -

Portals primarily generate revenue in all of the following ways except: -charging advertisers for ad placement. -collecting transaction fees. -sales of goods. -charging subscription fees.

-sales of goods.

Retail chains account for around ________ % of online retail firm revenues.

35%

Which of the following is not considered a portal?

Amazon

________ create and sell access to digital markets.

E-procurement firms

Which of the following describes the basic Web policy of large firms during the Invention period?

Maintain a basic, static Web site.

Define and differentiate a market space and a market opportunity.

Market opportunity is a business possibility for a product due to favorable combination ofcircumstances in which a business can capitalize on increasing demand of that product. Amarketspace is a virtual marketplace where sellers and buyers meet.

A(n) ________ occurs when everyone in a group receives value because all participants use the same tool or product.

Network Effect

The targeting of marketing messages to specific individuals by adjusting the message to a person's name, interests, and past purchases is called ________.

Personalization

Which of the following is not a community provider?

Priceline

________ technologies are technologies that enable the incremental improvement of products and services.

Sustaining

The Reinvention period of e-commerce is as much a sociological phenomenon as it is a technological or business phenomenon.

True

Web 2.0 describes a set of applications and technologies that encourage and rely on user- and consumer-generated interactivity and content.

True

E-commerce is available just about everywhere and anytime. This is known as ________.

Ubiquity

Identify the unique features of e-commerce technologies changed the business structures of apparel, hospitality, and events industries?

Ubiquity, Global reach, Universal standards, Social technology, Personal customization, Information density, Interactivity, and Richness

Network externalities are related to which of the following features of e-commerce technology?

Universal Standards

A ________ marketplace supplies products and services of interest to particular industries.

Vertical

Recognize different Web2.0 applications and the implications in retail and marketing. pg.31

Web 2.0- set of applications and technologies that enable user-generated content such as that posted on online social networks, blogs, wikis, and video/photo sharing websites and apps; widespread adoption of mobile devices such as smartphones and tablet computers; the expansion of e-commerce to include local goods and services; and the emergence of an on-demand service economy enabled by millions of apps on mobile devices and cloud computing.

Packet Switching pg.120

a method of slicing digital messages into packets, sending the packets along different communication paths as they become available, and then reassembling the packets once they arrive at their desination

Client/Server technology pg.124

a model of computing in which client computers are connected in a network together with one or more servers

Which of the following is an example of the subscription revenue model?

eHarmony

TCP pg.122

establishes connections among sending and receiving computers and handles assembly and reassembly of packets

A ________ specifically details how you plan to find customers and to sell your product.

market strategy

Recognize the challenges for future e-commerce

pg.32

Define and recognize the different types of e-commerce revenue models.

product and information sales, affiliate marketing, online advertising, subscription services, and transaction fees

IP pg.122

provides the internet addressing scheme and is responsible for delivery of packets

A firm's ________ describes how a firm will produce a superior return on invested capital.

revenue model

E-commerce technologies have changed the traditional tradeoff between the richness and reach of a marketing message. Prior to the development of the Web:

the larger the audience reached, the less rich the message.

E-commerce can be defined as:

the use of the Internet, the Web, and mobile apps to transact business.

A perfect market is one in which

there are no competitive advantages or asymmetries because all firms have equal access to all the factors to production.