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mana 4345
first test vocab ch 1-2
| Term | Definition |
|---|---|
| The use of the internet and the web to transact business and an exchange of value occurs is called ____ | e-commerce |
| ______ is the digital enabling of transactions and processes within a firm, involving internal systems with no exchange of value taking place | e-business |
| ____ is any disparity in relevant market information among parties in a transaction. | information asymmetry |
| _____ is known as a physical space you visit in order to transact. | marketplace |
| ______ is the ability to be available just about everywhere at all times. | ubiquity |
| _____is a marketplace extended beyond traditional boundaries and removed from a temporal and geographic location. | marketspace |
| The total number of users or customers an e-commerce business can obtain is called its ____? | reach |
| _______ are standards that are shared by all nations around the world. | universal standards |
| The complexity and content of a message is called its_____ | richness |
| Technology allowing two-way communication between merchant and consumer is _____. | interactivity |
| The ______ is the total amount and quality of information available to all market participants. | information density |
| _______ is the targeting of marketing messages to specific individuals by adjusting the message to a persons name, interest, and past purchases. | personalization |
| _______ is changing the delivered product or service based on a users preferences or prior behavior. | customization |
| A set of applications and technologies that allows users to create, edit, and distribute content is referred to as _____. | Web 2.0 |
| ______ is online businesses selling to individual consumers. | Business-to-Consumer (B2C) e-commerce |
| _____ is online businesses selling to other business and is the largest form of e-commerce. | Business-to-Business (B2B) e-commerce |
| EBay and craigslist are considered ________ with consumers selling to other consumers. | Consumer-to-Consumer (C2C) e-commerce |
| _____ is the use of “______” technology, which enables internet users to share files and computer resources directly without having to go through a central server. | “Peer-to-Peer (P2P)” e-commerce |
| _____ is possible with the use of wireless digital devices to enable transactions on the web. | mobile commerce (m-commerce) |
| ____ is the worldwide network of computer networks built on common standards. | Internet |
| _____ is the most popular service that runs on the internet, provides easy access to pages. | World Wide Web (Web) |
| The displacement of market middlemen who traditionally are intermediaries between producers and consumers by a new direct manufacture to consumer. | disintermediation |
| Vision of commerce in which information is equally distributed, transaction cost are low… unfair competitive advantages are eliminated. | friction-free commerce |
| _____ is a firm that is first to market in a particular area and that moves quickly to gather market share. | first mover |
| _____ occurs where users receive value from the fact that everyone else uses the same tool or product. | network effect |
| The set of planned activities designed to result in a profit in a marketplace is the _____. | business model |
| _____is a document that describes a firms business model. | business plan |
| ________ is a business model that aims to use and leverage the unique qualities of the internet and the www. | e-commerce business model |
| The _____ defines how a company’s product or service fulfills the needs of customers. | value proposition |
| _____ describes how the firm will earn revenue, produce profits, and produce a superior return on invested capital. | revenue model |
| A company who provides a forum for advertisements and receives fees from advertisers are using a ______. | advertising revenue model |
| Offering users content or services and charging a subscription fee for access to some or all of its offerings is called _____. | subscription revenue model |
| A company that receives a fee for enabling or executing a transaction is using a _____. | transaction fee revenue model |
| _____is a company model that derives revenue by selling goods, information or services. | sales revenue model |
| A company that steers business to an affiliate and receives a referral fee or percentage of revenue from sales is using a ____. | affiliate revenue model |
| _____ refers to the company’s intended marketspace and the overall potential financial opportunities available in that marketspace. | market opportunity |
| _____ is the area of actual or potential commercial value in which a company intends to operate. | marketspace |
| _____ refers to the other companies operating in the same marketspace selling similar products. | competitive environment |
| A firm achieves _____ when it can produce and/or bring the product to market at a lower price than most or all competitors. | competitive advantage |
| _____ exists when one participant in a market has more resources than other participants. | asymmetry |
| ____ is a competitive market advantage for a firm that results from being the first into a marketplace with a serviceable product or service. | first-mover advantage |
| _____ are resources and assets not directly involved in the production of the product but required for success, i.e. marketing, assets, reputation. | complementary resources |
| _____ occurs when one firm develops an advantage based on a factor that other firms cannot purchase. | unfair competitive advantage |
| _____ is a market in which there are no competitive advantages or asymmetries because all firms have equal access to all factors of production. | perfect market |
| ____ is when a company uses its competitive advantages to achieve more advantage in surrounding markets. | leverage |
| _______is the plan you put together that details exactly how you intend to enter a new market and attract new customers. | market strategy |
| ____ is a plan that describes how the company will organize the work that needs to be accomplished. | organizational development |
| _____ are the employees of the company responsible for making the business model work. | management team |
| ____ offers users powerful web search tools as well as an integrated package of content and services all in one place. | portal |
| _____ is an online retail store and include the bricks-and-clicks businesses. | e-tailer |
| ____ are the total cost of entering a new marketplace. | barriers to entry |
| _____ refers to all forms of human expression that can be put into tangible medium such as text, cd, or on the web. | intellectual property |
| _____ distributes information content, such as digital news, music, photos, video, and artwork over the web. | content provider |
| _____ are sites that processes transactions for consumers that are normally handled in person, by phone or by mail. | transaction broker |
| _____ builds a digital environment where buyers and sellers can meet, display products, search for products, and establish a price for products. | market creator |
| ____are companies that offer services online. | service provider |
| ____ are sites that create a digital online environment where people with similar interest can transact, share interest and communicate with like-minded people. | community provider |
| ____ is a company that supplies products and services directly to individual businesses. | e-distributor |
| ____ creates and sells access to digital electronic markets. | e-procurement firm |
| ______ sells business services to other firms. | B2B service provider |
| _______ is a company that sells access to internet based software applications to other companies. | application service provider (ASP) |
| _____ are efficiencies that arise from increasing the size of a business. | scale economies |
| ____ is an independent digital electronic marketplace where suppliers and commercial purchasers can conduct transactions. | exchange |
| _____ industry owned vertical marketplaces that serve specific industries. | industry consortia |
| ______ digital network designed to coordinate the flow of communication among firms engaged in business together. | private industrial networks |
| _____ refers to the nature of the players in an industry and their relative bargaining power. | industry structure |
| _____ an effort to understand and describe the nature of substitute products, the barriers to entry, and the relative strength of consumers and suppliers. | industry structural analysis |
| ____ is the set of activities performed in an industry or in a firm that transforms raw inputs into final products and services. | value chain |
| _____ is the set of activities a firm engages in to create final products from raw inputs. | firm value chain |
| ____ is the networked trans-business system that coordinates the value chains of several firms. | value web |
| ____ a set of plans for achieving superior long-term returns on the capital invested in a business firm. | business strategy |
| ____ is the difference between the price a firm is able to charge for itsd products and the cost of producing and distrubting goods. | profit |
| _____ refers to all the ways producers can make their products unique and different to distinguish them from those of competitors. | differentiation |
| _____ a situation where there are no differences among products or services, and the only basis of choosing products is price. | commoditization |
Created by:
romoore245
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