E-Commerce Ch 7-10
based on "E-commerce. business, technology, society" by Laudon and Traver. Chapters 7, 8, 9, 10.
Terms
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- closed loop marketing
- when marketers are able to directly influence the design of the core product based on market research and feedback from the market
- product advertising, financial services, scam/fraud, health remedies, pornography
- top 5 spam categories
- library effect
- an attempt to appeal to consumers on the basis of the total number of products offered
- augmented product
- a product with additional benefits to customers beyond the core benefits embodies in the actual product
- price dispersion
- the difference between the highest and lowest price in a market
- behavioral, demographic, pyschographic, technical, contextual, search
- types of online market segmentation
- design look, information design/structure, information focus, company motive, information usefulness
- top 5 factors in the credibility of web sites
- apparel/accessories, home and garden, food/beverages, office supplies, entertainment tickets
- top 5 things bought online (small ticket)
- e-mail and instant messaging, web surfing or browsing, reading news, hobbies, entertainment information, shopping and buying online
- top 6 most popular internet activities
- weblining
- charging some customers more money based on their profiles
- impressions
- number of times an ad is served
- clickstream behavior
- the transaction log that consumers establish as they move about the Web
- Law of One Price
- with complete price transparency in a perfect information marketplace, there will be one world price for every product
- save time by not going to store, can shop when stores are closed, avoid holiday crowds, might find better prices, can find products online more easily
- top 5 reasons for shopping online
- travel reservations, computer hardware, auto/auto parts, consumer electronics, jewelry/luxury goods
- top 5 things bought online (largeticket)
- rule-based data mining
- examines demographic and transactional data of groups and individuals at a Web site and attempts to derive general rules of behavior for visitors
- one-to-one marketing
- segmenting the market based on a precise and timely understanding of an individual's needs, targeting specefic marketing messages to these individuals, and then positioning the product vis-a-vis competitors to be truley unique
- security of credit card information, privacy of personal information, shipping costs, product quality, web site return policy
- top 5 concerns about purchasing online (in order)
- customer relationship management (CRM) system
- a repository of customer information that records all of the contacts that a customer has with a firm and generates a customer profile available to everyone in the firm with a need to "know the customer"
- transactive content
- results from the combination of traditional content, such as articles and product descriptions, with dynamic information culled from product databases, tailored to each user's profile
- organic search
- inclusion and ranking of sites depends on a more or less unbiased application of a set of rules imposed by the search engine
- working capital
- current assets - current liabilities
- collaborative filtering
- site visitors classify themselves into affinity groups characterized by common interests; products are then recommended based on what other members in the group have recently purchased