MIS 3302 - Ch 8 Notes

Multi-channel

A customer uses one channel of a given business to purchase an item, including in-store, on a cell phone, on the company's Web site, social media channels, comparison shopping engines, third-party marketplaces, other companies' Web sites, and so forth.

Cross-channel

A customer uses several channels in order to buy an item

Explain social media information systems.

A social media information system (SMIS) is an information system that includes all the components like other information systems (discussed in Module 1) such as hardware, software, people, and procedures that support content sharing among its members or users. Three additional components of a SMIS include application (app), user communities, and sponsors.

All of the following are among the components of a social media information system except: Application (app) providers Sponsors User communities All of the above

All of the above

Define e-commerce and describe its advantages, disadvantages, and business models.

E-commerce is buying and selling goods and services over the Internet. E-business encompasses all the activities a company performs in selling and buying products and services using computers and communication technologies. Some of the advantages of e-commerce include creating better relationships with suppliers, customers, and business partners and creating "price transparency."

Webrooming is when consumers physically inspect a product in a store to get a look and feel for it—and then buy it from an online store because it is cheaper to do so. True or False?

False

All of the following could further expand voice-based e-commerce except: Alexa (Amazon) Cortana (Microsoft) Firefox (Mozilla) Assistant (Google)

Firefox

Explain hypersocial organizations and their growing popularity.

Hypersocial organizations are companies that leverage social media in order to turn the business into a social process and, as a result, are better able to connect with their customers and sell more products and services. Hypersocial organizations share information through many different avenues. The most popular is direct social media interaction, such as Facebook posts, Twitter pages, and Instagram.

Describe mobile-based and voice-based e-commerce.

Mobile commerce (m-commerce) is using handheld devices, such as smartphones or wireless devices, to conduct business transactions. Voice-based e-commerce relies on voice recognition and text-to-speech technologies.

Explain social commerce and the reasons for its popularity.

Social commerce is a subset of e-commerce that is influenced by social networks and other online media. The reason for its popularity are because more than two billion consumers are using social networks such as Facebook, Instagram, Twitter, Pinterest, and Tumblr, and this number increases daily.

Explain four supporting technologies for e-commerce.

They include electronic payment systems, Web marketing, mobile marketing, and search engine optimization.

Describe the five major activities of the business-to-consumer e-commerce cycle

They include information sharing, ordering, payment, fulfillment, and service and support.

Summarize the four major models of business-to-business e-commerce.

They include seller-side marketplace, buyer-side marketplace, third-party exchange marketplace, and trading partner agreements.

Omnichannel

This strategy seeks to integrate the physical stores, the Internet, and mobile technologies.

Access through mobile devices is among the features of a successful government Web site. True or False?

True

The merchant model transfers the old retail model to the e-commerce world by using the medium of the Internet. True or False?

True

Search engine optimization (SEO)

a method for improving the volume or quality of traffic to a Web site. A higher ranking in search results should generate more revenue for a Web site.

E-cash

a secure and convenient alternative to bills and coins, complements credit, debit, and charge cards and adds convenience and control to everyday cash transactions.

Value chain

a series of activities designed to meet business needs by adding value (or cost) in each phase of the e-commerce process.

Advertising model

an extension of traditional advertising media, such as radio and television. Directories such as Yahoo! provide content (similar to radio and TV) to users for free. By creating more traffic with this free content, they can charge companies for placing banner ads or leasing spots on their sites.

Trading partner agreements

automate negotiating processes and enforce contracts between participating businesses.

Brokerage model

brings sellers and buyers together on the Web and collects commissions on transactions between these parties.

Business-to-consumer (B2C)

companies sell directly to consumers.

Hypersocial organizations

companies that leverage social media to better connect with customers and increase sales through the social process.

Horizontal market

concentrates on a specific function or business process and automates this function or process for different industries.

Vertical market

concentrates on a specific industry or market. The utilities industry, the beef and dairy industries, and the sale of medical products are examples of vertical markets.

All of the following are among the most popular mobile marketing strategies except: App-based marketing In-game mobile marketing Location-based marketing Customer-based marketing

customer based marketing

Consumer-to-consumer (C2C)

e-commerce involves business transactions between users, such as consumers selling to other consumers via the Internet.

Business-to-business (B2B)

e-commerce involves electronic transactions between businesses.

Consumer-to-business (C2B)

e-commerce involves people selling products or services to businesses, such as when a consumer creates online surveys for a company to use.

Infomediary model

e-commerce sites collect information on consumers and businesses and then sell this information to other companies for marketing purposes.

Subscription model

e-commerce sites sell digital products or services to customers.

E-business

encompasses all the activities a company performs in buying and selling products and services using computers and communication technologies.

Organizational (intrabusiness) e-commerce

involves e-commerce activities that take place inside an organization, typically via the organization's intranet. These activities can include the exchange of goods, services, or information among employees.

Click-and-brick e-commerce

mixes traditional commerce and e-commerce. It capitalizes on the advantages of online interaction with customers yet retains the benefits of having a physical store location.

Third-party exchange marketplace

model is not controlled by sellers or buyers. Instead, it is controlled by a third party, and the marketplace generates revenue from the fees charged for matching buyers and sellers.

Seller-side marketplace

model occurs most often. In this model, sellers who cater to specialized markets, such as chemicals, electronics, and auto components, come together to create a common marketplace for buyers—sort of a one-stop shopping model.

Mixed model

refers to generating revenue from more than one source.

E-check

the electronic version of a paper check, offers security, speed, and convenience for online transactions.

Merchant model

transfers the old retail model to the e-commerce world by using the medium of the Internet.

Web marketing

uses the Web and its supporting technologies to promote goods and services.

Digital wallet

which is available for most handheld devices, offers a secure, convenient, and portable tool for online shopping. They store personal and financial information, such as credit card numbers, passwords, and PINs.