Chapter 3: E-business: Electronic Business Value Flashcards
Digital Darwinism
implies that organizations which cannot adapt to the new demands placed on them for surviving in the information age are doomed to extinction
ex. Polaroid
Disruptive Technology
a new way of doing things that initially does not meet the needs of existing customers
ex. 3D printing
Sustaining Technology
- produces an improved product customers are eager to buy
- better, faster, and cheaper
ex. Apple
World Wide Web (WWW)
provides access to internet information through documents including text, graphics, audio, and video files that use a special formatting language called HTML
Internet
- computer networks that pass information from one to another using common computer protocols
- originally an emergency military communications system operated by the U.S
Mass customization
is the ability of an organization to tailor its products or services to the customers’ specifications
ex. customers can order M&M’s in special colours or with customized sayings such as “Marry Me”
Personalization
- occurs when a company knows enough about a customer’s likes and dislikes that it can fashion offers more likely to appeal to that person
- tailoring its website to individuals or groups based on profile information, demographics, or prior transactions
ex. Netflix suggestions
Business-to-Business (B2B)
applies to businesses buying from and selling to each other over the Internet
ex. software companies selling to other companies
Business-to-Consumer (B2C)
applies to any business that sells its products or services directly to consumers online
ex. Best Buy to customers
Consumer-to-Business (C2B)
applies to any consumer who sells a product
or service to a business on the Internet
ex. people selling their plane tickets
Consumer-to-Consumer (C2C)
applies to customers offering goods and services to each other on the internet
ex. people selling on Amazon
