condensed notes test 1

condensed notes test 1 - Chapter 1 o Marketingthe process...

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Chapter 1 o Marketing the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services that create exchanges that satisfy individual and organizational need o Relationship marketing implies that businesses undertake strategies that will hold desirable customers over a long time period o E-marketing the use of information technology to create, communicate, and deliver value to customers; and for managing customer relationships to benefit the organization o E-business the continuous optimization of a firm’s business activities through digital technology o E-commerce the subset of e-business focused on transactions o E-marketing a part of e-business (defined above) o Changes in E-business Customized production Increasing price pressure resulting in lowering prices Shorter channels of distribution dominated by facilitators Non-linear promotions (tons of info can be collected and managed on the internet) Electronic transfer of funds Database information management systems (the consumer can control when they see the ads and can chose to interact with them; unlike tv or radio)
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o Business model aka commerce model; a way you can increase the contribution margin (increase revenue or decrease cost); The basic process flow indicating how a business operates. It indicates how business functions are linked together and how the firm will sustain operations Brick and mortar tangible assets of businesses (buildings, warehouses, etc) o Brochure sites sets up a web page to promote a business; can also allow contacts through email and simple product ordering (low cost) o E-commerce allows for purchasing online with automated credit card clearance and links to inventory through databases (medium cost) o E-business refocuses business practice to take advantage of new technologies to lower costs, improve value, and respond quickly to environmental change (high cost) o Moore’s law computing power doubles and costs are cut in half every 18 months o Metcalfe’s law power of the network increases exponentially with each new connection Metcalfe developed the first network card All computers are linked to each other o Eras in the evolution of the web Web 1.0 First generation online experience Tremendous explosion in access to content Realization of online marketplace Web 2.0 Changing trends in use of WWW technology and web design to enhance: Creativity, communications, secure information sharing, collaboration and functionality on the web
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Led to the development and evolution of web culture communities and hosted services (ex: social networks) 4 hierarchy levels described by Tim O’Reilly Level-3: exists only on the internet, deriving effectiveness from the interpersonal connections and network effects Level-2: can operate offline but gain advantages from going online (Flickr uses shared photo-database and community-generated
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condensed notes test 1 - Chapter 1 o Marketingthe process...

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