Podcast
Questions and Answers
When people see something they like on the web or on their mobile phones, they share it with others. This illustrates the basic concept of:
When people see something they like on the web or on their mobile phones, they share it with others. This illustrates the basic concept of:
- Really simple syndication
- Collaborative filtering
- Positive network effect
- Viral marketing (correct)
Tinker Inc. is a firm that provides its search engine technology to many branded search engine sites. Which of the following roles does Tinker Inc. play?
Tinker Inc. is a firm that provides its search engine technology to many branded search engine sites. Which of the following roles does Tinker Inc. play?
- Optimizer
- Originator (correct)
- Contactor
- Distributor
_____ involves the sale of the same good—typically an informational good—to many customers, who then combine it with information from other sources and distribute it.
_____ involves the sale of the same good—typically an informational good—to many customers, who then combine it with information from other sources and distribute it.
Syndication
In e-commerce business models, a(n) _____ refers to a website that provides news articles in electronic form and delivers them to other sites, each of which appeals to a different target audience.
In e-commerce business models, a(n) _____ refers to a website that provides news articles in electronic form and delivers them to other sites, each of which appeals to a different target audience.
The characteristic of a new product becoming more valuable with an increase in the number of users within informational networks is referred to as _____.
The characteristic of a new product becoming more valuable with an increase in the number of users within informational networks is referred to as _____.
Collaborative filtering:
Collaborative filtering:
_____ techniques, which are user-driven instead of marketer-driven, allow customers to specify the nature of what is offered to them.
_____ techniques, which are user-driven instead of marketer-driven, allow customers to specify the nature of what is offered to them.
Quickbeats.com is an online music seller that allows customers to order personalized CDs that contain only the songs chosen by the customers. Which of the following personalization techniques does Quickbeats use?
Quickbeats.com is an online music seller that allows customers to order personalized CDs that contain only the songs chosen by the customers. Which of the following personalization techniques does Quickbeats use?
The Internet makes it possible for marketers to reach customers directly, without the expense or complication of distribution channels. This phenomenon is known as _____.
The Internet makes it possible for marketers to reach customers directly, without the expense or complication of distribution channels. This phenomenon is known as _____.
Flick Software lets its customers download its products directly from its website. Online support is also available round the clock, creating great value to customers everywhere. This illustrates that:
Flick Software lets its customers download its products directly from its website. Online support is also available round the clock, creating great value to customers everywhere. This illustrates that:
According to the first-mover advantage, success of a firm depends on being the first to:
According to the first-mover advantage, success of a firm depends on being the first to:
Which of the following is true of firms with a first-mover advantage?
Which of the following is true of firms with a first-mover advantage?
In which of the following stages of customer experience process does cash flow from customer to producer?
In which of the following stages of customer experience process does cash flow from customer to producer?
In which stage of the consumer experience process does cash flow from the producer to the consumer?
In which stage of the consumer experience process does cash flow from the producer to the consumer?
Which of the following is the first stage of the customer experience process?
Which of the following is the first stage of the customer experience process?
In which of the following stages of the customer experience process does information flow from the producer to the customer?
In which of the following stages of the customer experience process does information flow from the producer to the customer?
In which stage of the consumer experience process is information about price, terms, delivery, warranty, etc. shared between both the producer and the consumer?
In which stage of the consumer experience process is information about price, terms, delivery, warranty, etc. shared between both the producer and the consumer?
If the customer likes an offering, a(n) _____ ensues, requiring that information about pricing, terms, delivery, and so on flows to the customer, and cash—either now or upon delivery—flows the other way.
If the customer likes an offering, a(n) _____ ensues, requiring that information about pricing, terms, delivery, and so on flows to the customer, and cash—either now or upon delivery—flows the other way.
In which of the following stages of the customer experience process do firms obtain data from social networking sites and instant messaging?
In which of the following stages of the customer experience process do firms obtain data from social networking sites and instant messaging?
Which controversial system gauges a customer's desire to buy, measures his means, and sets the price accordingly?
Which controversial system gauges a customer's desire to buy, measures his means, and sets the price accordingly?
_____ involves companies carefully considering which burdens they can remove from the customer, using digital technologies, and which customers can perform, assessing costs and benefits to both parties.
_____ involves companies carefully considering which burdens they can remove from the customer, using digital technologies, and which customers can perform, assessing costs and benefits to both parties.
Study Notes
Viral Marketing and Network Effects
- When people share something they like on the web or mobile phones, it illustrates the concept of viral marketing.
- Positive network effect occurs when a product or service becomes more valuable with an increase in the number of users within informational networks.
Roles in the Digital Economy
- An originator is a firm that creates content or information.
- A syndicator is a firm that sells the same good (typically an informational good) to many customers, who may then combine it with information from other sources and distribute it.
- A distributor is a firm that provides news articles in electronic form and delivers them to other sites, each of which appeals to a different target audience.
Personalization Techniques
- Collaborative filtering enables firms to recommend personalized purchase options by comparing a consumer's past purchases.
- Mass customization allows customers to specify the nature of what is offered to them.
- Rules-based personalization uses formal decision rules to offer personalized products or services.
Disintermediation and First-Mover Advantage
- Disintermediation is the phenomenon where the Internet makes it possible for marketers to reach customers directly, without the expense or complication of distribution channels.
- First-mover advantage is the success of a firm that depends on being the first to establish a significant presence in each market niche.
- First movers must continue to innovate to maintain their differential advantage.
Customer Experience Process
- The customer experience process involves stages such as customer insight, production promotion, customer acquisition, and brand building, product delivery, customer support and service, and product return or disposal.
- In the transaction stage, information about pricing, terms, delivery, warranty, etc. is shared between the producer and the consumer, and cash flows from the consumer to the producer.
Other Concepts
- Aggregation involves the sale of the same good (typically an informational good) to many customers, who may then combine it with information from other sources and distribute it.
- Coproduction involves companies carefully considering which burdens they can remove from the customer, using digital technologies, and which customers can perform, assessing costs and benefits to both parties.
- Dynamic pricing is a controversial system that gauges a customer's desire to buy, measures their means, and sets the price accordingly.
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Description
Test your understanding of market-oriented perspectives and successful corporate strategies. This quiz covers concepts such as viral marketing, collaborative filtering, and more.
