Lecture 10 Flashcards
Everledger business model: based on a blockchain technology application
Everledger collects data from miners, manufacturers, certification houses and retailers, enabling them to drive a positive social and environmental impact
Clients get a record viewer (on the blockchain data) to check the lifetime story of the diamond including claims made about origin sustainability or chain of custody
Everledger enables banks and insurance firms to offer personalized loans and policies
The three blockchain applications
Use bockchain technology to provide services for actors and consumers in the diamond industry
But have made different design choices for their applications
And induce different types of trust
The online retail sector consists of
7 segments
Each segment uses internet and IT for specific business model innovations
Key theme in online retail
Integration of online and offline operations
Retaiil
Personal consumption of goods and services
7 segments in the US retail industry
General merchandise
Speciality stores
Food and beverage
Gasoline and fuel
Online retail
consumer durables
Trends in online retail
Buying online is now a normal, mainstream experience
Mobile e-commerce in retail is still exploding
Online retail is still the fastest growing retail channel
Informational shopping for expensive goods expands
Speciality retail sites show rapid growth
Channel integration
Big data used for predictive marketing
Economic viability
Ability of firms to survive as profitable business firms during speicifed period
Two business analysis appraoches to evaluate economic viablity
Strategic analysis (porter)
Barriers to entry/power of suppliers/power of customers/substitute products/intra-competition
Changes in the inducstry value chain (intermediation)
Firm-value chain/core competencies/synergies/technology/social and legal challenges
Financial analysis, performance on
Revenues/cost of sales/ gross margin/ operating expenses/operating margin/net margin
Omni channel merchants
Have a network of physical stores as primary retail channel, but also have introduced online offerings (e.g. macy, walmart, sears)
Virtual merchants
Are single channel e-commerce firms that generate almost all revenues online (e.g. amazon)
Catalog merchants
Have a national offline catalog operation that is their largest retail channel, but also have online capabilities
Manufacturer direct
Are single or multi-channel manufacturers who sell directly online (e.g. apple, dell, HP)
Single channel firms
Customers experience a single type of touch point
Retailers have a single type of touch point
Multi channel firms
Customer sees multiple touch points acting independently
Retailers channel knoledge and operations exist in technical and functional silos
cross channel (aspiration)
Customer sees multiple touch points as part of the same brand
Retailers have a single view of the customer but operate in functional silos
Omni channel (nirvana)
Customers experience a brand not a channel within a brand
Retailers leverage their single views of the customer in coordinated and strategic ways
Omni channel integration
Integrating web operations with traditional physical store operations
Leverage value of physical store
Types of integration, e.g. online order, in store pickup
Social media e-commerce growth
Offerings via social media, influencer marketing etc.
Service sectore
Includes finance, insurance, real estate, travel, professional services (=legal, accounting, health, education, IT, etc)
Largest and most rapidly expanding part of economies of advanced industrial nations
Concerned with performing tasks in and around households, business firms, and institutions
Financial portals
Comparison shopping, services, independent financial advice, financial planning
Revenues from advertising, referrals, subscriptions
Account aggregation
Pulls together all of a customers financial data at a personalized website
Privacy concerns: control of personal data, security and so on
