MIS 304 EXAM 2 STUDY GUIDE
disintermediation - Answer -cutting out the middleman and reaching customers more
directly and efficiently.
reintermediation - Answer -reintroduce middle men in order to reduce the chaos
brought on by disintermediation.
Mas customization - Answer -helps firms tailor their p/s to meet a customers particular
needs on a large scale.
still allows for economies of scale
ex. dell lets you design a computer
nike lets you make custom tennis shoes
group buying - Answer -groupon or living social negotiate special volume discounts with
local businesses and offer them to members in form of daily deals.
can help get customers in the door, but the significant discounts can be costly
the long tail - Answer -catering to niche markets in addition to purely selling to
mainstream products.
online markets mean you don't have to pay to have self space in brick and mortar so
you can still make money off of a movie even if you only sell a few
attracting and maintaining customers online - Answer -1. offer something unique
2. motivate people to visit, stay and return. (Whats you're USP)
3. advertise your presence on the web (Use QR codes)
4. learn from your website (exit rate, bounce rate, web analytics)
online consumers hierarchy of needs (3 of them) - Answer -representational delight
functional convenience
structural firmness
representational delight - Answer -aesthetically pleasing.
nice to look at.
the better looking, the more likely they are to visit, stay and return.
functional convenience - Answer -easy to use.
if visitors have trouble finding things on the site they are unlikely to make transaction or
return.
also includes one-click ordering, allowing variety of payment methods, order tracking
options
structural firmness - Answer -(most important)
function well.
no bad links, provide understandable error messages
, ensure privacy and security.
it is fast.
search marketing - Answer --paid search: Pay-per-click, google adwords
-search engine optimization: having other pages link to you, having updated content,
include key words
display adds - Answer -banner adds, often combined with contextual advertising that
way you are paying to be seen infront of your target markets
social media marketing - Answer -offering free online goodies to your followers
used to gather public opinions as well as boost positive word of mouth
mobile marketing - Answer -in-app adds, location based adds.
menu driven pricing - Answer -companies set the prices that consumers pay for
products
reverse pricing model - Answer -name your own price
internet tax freedom act - Answer -sales on the internet are treated the same way as
mail order s ales. co is required to collect sales tax only from customers residing in a
state where the business had a substantial presence.
digital rights mgmt (DRM) - Answer -making it harder to steal digital media
watermarking things ,restriction what devices it will play on, or how many devices.
virtual teams - Answer -comprised of members from different geographic areas,
assembled as needed to collar on certain projects. things are fluid, people come and go
synchronous - Answer -at the same time
chatting online, or talking on the phone, video conferencing.
asynchronous - Answer -not coordinated in time
email, online discussion boards
groupware - Answer -class of software that enables people to work together more
effectively.
are you working face to face or distributed? are you working together or at different
times?
intranet and employee portals - Answer -intranet is a private network using web tech.
its used to facilitate the secured transmission of info within an org. looks and acts just
like a publicly accessible website, uses same software and hardware
disintermediation - Answer -cutting out the middleman and reaching customers more
directly and efficiently.
reintermediation - Answer -reintroduce middle men in order to reduce the chaos
brought on by disintermediation.
Mas customization - Answer -helps firms tailor their p/s to meet a customers particular
needs on a large scale.
still allows for economies of scale
ex. dell lets you design a computer
nike lets you make custom tennis shoes
group buying - Answer -groupon or living social negotiate special volume discounts with
local businesses and offer them to members in form of daily deals.
can help get customers in the door, but the significant discounts can be costly
the long tail - Answer -catering to niche markets in addition to purely selling to
mainstream products.
online markets mean you don't have to pay to have self space in brick and mortar so
you can still make money off of a movie even if you only sell a few
attracting and maintaining customers online - Answer -1. offer something unique
2. motivate people to visit, stay and return. (Whats you're USP)
3. advertise your presence on the web (Use QR codes)
4. learn from your website (exit rate, bounce rate, web analytics)
online consumers hierarchy of needs (3 of them) - Answer -representational delight
functional convenience
structural firmness
representational delight - Answer -aesthetically pleasing.
nice to look at.
the better looking, the more likely they are to visit, stay and return.
functional convenience - Answer -easy to use.
if visitors have trouble finding things on the site they are unlikely to make transaction or
return.
also includes one-click ordering, allowing variety of payment methods, order tracking
options
structural firmness - Answer -(most important)
function well.
no bad links, provide understandable error messages
, ensure privacy and security.
it is fast.
search marketing - Answer --paid search: Pay-per-click, google adwords
-search engine optimization: having other pages link to you, having updated content,
include key words
display adds - Answer -banner adds, often combined with contextual advertising that
way you are paying to be seen infront of your target markets
social media marketing - Answer -offering free online goodies to your followers
used to gather public opinions as well as boost positive word of mouth
mobile marketing - Answer -in-app adds, location based adds.
menu driven pricing - Answer -companies set the prices that consumers pay for
products
reverse pricing model - Answer -name your own price
internet tax freedom act - Answer -sales on the internet are treated the same way as
mail order s ales. co is required to collect sales tax only from customers residing in a
state where the business had a substantial presence.
digital rights mgmt (DRM) - Answer -making it harder to steal digital media
watermarking things ,restriction what devices it will play on, or how many devices.
virtual teams - Answer -comprised of members from different geographic areas,
assembled as needed to collar on certain projects. things are fluid, people come and go
synchronous - Answer -at the same time
chatting online, or talking on the phone, video conferencing.
asynchronous - Answer -not coordinated in time
email, online discussion boards
groupware - Answer -class of software that enables people to work together more
effectively.
are you working face to face or distributed? are you working together or at different
times?
intranet and employee portals - Answer -intranet is a private network using web tech.
its used to facilitate the secured transmission of info within an org. looks and acts just
like a publicly accessible website, uses same software and hardware
