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14 Cards in this Set
- Front
- Back
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Name some major trends in online retail 2012-2013.
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Mobile commerce nearly doubles
Rapid growth in social commerce Online retail still the fastest growing retail channel Buying online a normal, mainstream experience Selection of goods increases, includes luxury goods Informational shopping for big-ticket items expands Specialty retail sites show rapid growth Integration of multiple retailing channels |
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Describe the vision of e-commerce retail.
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1. Reduced search and transaction costs; customers able to find lowest prices
2. Lowered market entry costs, lower operating costs, higher efficiency 3. Traditional physical store merchants forced out of business 4. Some industries would be disintermediated |
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Explain what is meant by multi-channel integration.
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Integrating Web operations with traditional physical store operations
- Provide integrated shopping experience - Leverage value of physical store |
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Describe three types of integration.
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Online order, in-store pickup
Web promotions to drive customers to stores Gift cards usable in any channel |
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Give examples of all e-tailing business models.
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1. Virtual merchant: Amazon
2. Bricks and clicks: Walmart 3. Catalog merchant: Victoria's Secret 4. Manufacturer-direct: Dell |
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Name some common themes in online retailing.
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Online retail fastest growing channel on revenue basis
Profits for startup ventures have been difficult to achieve Disintermediation has not occurred Established merchants need to create integrated shopping experience to succeed online Growth of online specialty merchants, e.g. Blue Nile Extraordinary growth of social, local, and mobile e-commerce |
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Name the major service industry groups.
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Finance
Insurance Real estate Travel Professional services—legal, accounting Business services—consulting, advertising, marketing, etc. Health services Educational services |
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What are the two important global trends in financial service industry?
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Industry consolidation
- Financial Reform Act of 1998 amended Glass- Steagall Act and allows banks, brokerages, and insurance firms to merge Movement toward integrated financial services - Financial supermarket model |
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Why is travel an ideal service/product for Internet?
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Information-intensive product
Electronic product—travel arrangements can be accomplished for the most part online Does not require inventory Does not require physical offices with multiple employees Suppliers are always looking for customers to fill excess capacity Does not require an expensive multi-channel presence |
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Name the four major sectors of the online travel market.
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Airline tickets
Hotel reservations Car rentals Cruises/tours |
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What is meant by cannibalization and complementary?
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Does time on Internet reduce time spent with other media?
Books, newspapers, magazines, phone, radio |
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What is DRM?
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Digital Rights Management: Technical and legal means to protect digital content from unlimited reproduction and distribution
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Explain media convergence.
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Technological convergence:
- Hybrid devices Content convergence: - Three aspects: Design, production, distribution - New tools for digital editing and processing Industry convergence: - Merger of media enterprises into firms that create and cross-market content on different platforms |
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What are the four factors required to charge for online content?
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Focused market
Specialized content Sole source monopoly High perceived net value - Portion of perceived customer value that can be attributed to fact that content is available on the Internet |
