Exam 1 Intro to Mrkt Study Guide Ch1-4

Business us govt regulation antimonopoly period

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business U.S. Gov’t Regulation Antimonopoly Period, Protection of competitors, consumer protection, & industry regulation Newest frontier is cyberspace 4 Stages of Business Cycle Prosperity, recession, depression, & recovery 4 Consumer Rights The right to choose freely, the right to be informed, the right to be heard, the right to be safe 5 Areas of Ethical Concern Marketing Research, Product Strategy, Distribution, Promotion, & Pricing Chapter 4 Worldwide, there are 1.5 billion Internet users U.S. with 218 million Typical Internet users are from 35-64 and spend 66 hours a month
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E-business: involves targeting customers by collecting & analyzing business information, conducting customer transactions, and maintaining online relationships with customers by Internet E-Marketing: the strategic process of creating, distributing, promoting, and pricing goods and services to target market over the Internet Benefits: elimination of geographical boundaries, personalized marketing, interactive marketing, right-time marketing, and integrated marketing Corporate Web sites - designed to increase the firms’ visibility, promote their offerings, and provide information to interested parties Marketing Web sites - main purpose is to increase purchases by site visitors Major forms of B2B e-marketing B2B Marketing- the process of selling goods and services through online transactions (business-to-business) Includes product information: ordering, invoicing, and payment processes; and customer service E-business uses Internet technology to conduct transactions between two organizations B2C Marketing - uses the Internet to connect companies directly with consumers Business-to-consumer Major Forms of B2C online sales channel E-tailing & electronic storefronts Benefits: competitive prices, increased access & convenience, personalized service Challenges to Online Safe online payment methods; use SSL to encrypt information Fraud, poor website design & service, unreliability EDI- all parties must use the same computer operating system Web services - allow parties to communicate and exchange data regardless of the computer operating system they used E-Procurement : web-based systems that enable all types of organizations to improve the efficiency of their bidding and purchasing processes Phishing - a scam that uses email or pop-ups that claim to be from familiar banks or other organizations asking for personal information Vishing - uses voice message or email telling the user to make a phone call designed to elicit credit card info Channel Conflicts - conflict among manufacturers, wholesalers, and retailers created by Internet Example: when a manufacturer sells its products online & competes with its retail partners Click-Through Rate - the percentage of viewers who, when presented with a banner ad, click on it Conversion Rate - the percentage of visitors to a web site who actually make purchases
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Engagement - measures how long a user spends on a site instead of how many pages he or she views
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