Test 4 Study Guide

Advertising

users are exposed to advertisements on the web

Affiliate

receive a referral fee % of the sale/revenue when they refer a visitor to another site

Analytical CRM

supports back-office operations and strategic analysis and includes all systems that do not deal directly with the customers

Anti-malware software

prevents, detects, and removes malware, including computer viruses, computer worms, Trojan horses, spyware, and adware

Authentication

The ability to know that a person is who he or she claims to be.
-a method of confirming users identities.

Authorization

determines which actions, rights, or privileges the person has, based on his or her verified identity

Automation call distribution

a phone switch routes inbound calls to available agents

B2C

businesses sell to consumers

Banner ads

a box running across a web page with an advertisement and link to a company’s web site

Best Practices

the most successful solutions or problem-solving methods for consistently and effectively achieving a business objective

Biometrics

Systems that read and interpret individual human traits to enhance security measures.

Blockchain

A type of distributed ledger, consisting of blocks of data that maintain a permanent and tamper-proof record of transactional data

Brick and mortar

operates in a physical store without an Internet presence (B2C)

Bullwhip effect

occurs when distorted product-demand information ripples from one partner to the next throughout the supply chain

call scripting systems

access organizational databases that track similar issues or questions and automatically generate the details to the customer service rep who can then relay them to the customer

Clicks and bricks

traditional pure-play (online only) companies that are trying to capture the advantages of face-to-face commerce in small, cost-effective physical locations

Clicks and mortar

a business that operates both physically and and online

Cloud computing security

accountability and responsibility for privacy and security reside with the Cloud user, although the Cloud provider is actually doing the hosting

Cognitive Password (security question )

Requires user to answer a question to verify their identity.

Community provider

provides an on-line meeting place where people with similar interests can communicate and find useful information

Content provider

provides digital content such as news, music, other types of intellectual property

cost transparency

the ability to find out the actual cost to the merchant

Cross selling

selling additional(complementary) products or services to an existing customer

Crowd-funding

organized web sites where individuals can ask for direct financial contributions from family, friends, and others to help fund some type of venture

Crowdsourcing

where firms offer incentives to customers for solving a problem or coming up with an idea

customer lifetime value

Difference between revenues produced by a specific customer and the expenses for acquiring and servicing that customer minus the cost of promotional marketing over the lifetime of the customer relationship

Customers touch points

a method of interaction with a customer (phone, email,)

Digital certificate

Data file or electronic document used to establish the identity of users and electronic assets for protection of online transactions

Disintermediation

the removal of organizations or business process layers responsible for certain intermediate steps in a value chain

Downstream

Organizations and process responsible for delivering products to customers.

Dynamic pricing

pricing of items based on real-time interactions between buyers and sellers that determine what an item is worth at any particular moment

E-commerce

use of the internet and web to transact business

E-goverment

involves the use of internet technologies to transform government by improving the delivery of services and enhancing the quality of interaction between the citizen consumer and the various branches of government.

e-mall

consists of a number of e-shops; serves as a gateway (portal) through which a consumer can access multiple e-shops

Encryption

Process of converting readable data into unreadable characters to prevent unauthorized access.

Enterprise applications

systems that span functional areas, focus on executing business processes across the business firm, and include all levels of management

Enterprise resource planning systems (ERP)

integrate all departments and functions throughout an organization into a single IT system (or integrated set of IT systems) so that employees can make enterprise wide decisions by viewing enterprise wide information on all business operations

ERP Software

built around thousands of predefined business processes that reflect best practices

E-shop

an online store

e-TAILER

on line retailer, sells products

Fault-tolerant computer systems

Systems redundant hardware, software and power supply components that create and environment that provides continuous uninterrupted service

Firewall

hardware and software placed between an organization's internal network and an external network to prevent outsiders from invading private networks

Forward auction

Sellers use the site as a selling channel to many buyers and the highest bid wins

Free/Fremium

offer basic services or content for free, but charge a premium for advanced or special features

identity management Systems

-Support the or ganizations security and suthorizations policies.
-Include business process and technologies for identifying valid users of systems & what they are allowed to access/change.

Information Asymmetry

exists when one party in a transaction has more information that is important for the transaction than the other party

Information Density

the total amount and quality of information available to all market participants

Interactive voice response

directs customers to use touch-tone phones or keywords to navigate or provide information

Intrusion detection systems

Monitor hot spots on corporate networks to detect and deter intruders.
Examine events as they are happening to discover attacks in progress.

Just in Time strategy

Components arrive as they are needed
Finished goods shipped after leaving assembly line

Legacy System

A system that has been in existence for a long time and that continues to be used to avoid the high cost of replacing or redesigning it.

Market creator

creates a digital environment where buyers and sellers can meet, display products, search for products, and establish prices

market entry costs

costs merchants must pay to bring goods to market

M-comerce

use of wireless mobile devices for purchasing goods and services

Menu Costs

cost to the merchant/seller to change prices or offerings.

menu driven pricing

company sets the price that customers pay

Mobile App Payment Systems

mobile apps are used to replace credit cards and traditional banking services

Near Field Communication (NFC)-driven payment systems

enable smartphones and other mobile devices to make contactless payments

Operational CRM

Customer-facing applications such as sales force automation, call center and customer service support, and marketing automation

Passphrase

Series of characters that is longer than a password but is still easy to memorize.

Password

Combination of numbers, characters and symbols used to authenticate a user and allow access to specified system recourses.

Password management applications

Allow users to store username and password,along with other account details.

Peer-to-peer (P2P) payment systems

transfer money among participants through a trusted 3rd party vendor app
•Zelle, Venmo

Persoanlization

when a company knows enough about a persons likes and dislikes that it can fashion offers that are more likely to appeal to that person.

Pop-under ad

a form of pop-up ad that users do not see until they close the current web screen

Pop-up ad

a small web page or box containing an ad that appears over the page you are viewing

Portal

provides initial entry point to the web along with specialized content and other services

Prediction markets

peer-to-peer betting markets on specific outcomes (elections, sales figures, designs for new products) – customer places bets or votes for or against specific outcomes

Predictive dialing

automatically dials outbound calls and when someone answers, the call is forwarded to an available agent

price discrimination

selling the same good at different prices to different buyers

price transparency

the ease with which consumers can find out the variety of prices in a market

Public key infrastructure

The use of public key encryption

Pull-based model

Customer orders trigger events in supply chain

Pure play

a business that operates on the internet only

Push based model

Schedules based on forecasts or best guesses of demand

-products are pushed to customers

QR Code payment systems

use a contactless payment method where a payment is conducted by scanning a QR Code using a mobile app on the user’s smartphone

Reverse pricing

consumer specifies the price he/she is willing to pay, the company can accept or reject it

Sales

earn income by selling goods, information or services

Search Costs

the effort required to find suitable products

Security of mobile computing devices

must be secured like other in-house, non-mobile resources against malware, theft, accidental loss, unauthorized access, and hacking attempts

Security outsourcing

using managed security service providers (MSSPs)

Service provider

sells services on line

showrooming

Checking out merchandise and prices in a retail showroom but buying from an online-only

Smart Card

A device that is around the same size as a credit card, containing embedded technologies that can store information and small amounts of software to perform some limited processing

Sponsored links

links that appear at the top or side of search engine results that are paid for by a company

Spot leasing

a space on a web site or search engine that is leased for a specific amount of time to show an ad to anyone who visits that page

Subcription

charge a subscription fee for access to material or charge for a membership.

Supply Chain

an integrated network consisting of an organization, its suppliers, transportation companies, and brokers used to deliver goods and services to customers

Supply chain visibility

the ability to view all areas up and down the supply chain in real time

Terminal resource security

Software feature that erases the screen and signs the user off automatically after a specified length of inactivity

Token

small electronic devices that change user passwords automatically

Transaction broker

processes on-line sales transactions in return for a fee

Transaction Costs

the costs of participating in a market

Transaction fee

A company receives a fee for executing a transaction

Transformation -Company internal supply chain

processing of materials/resources into semi-finished and finished products/services thru your organizations own production process.

Two factor authentication

User must provide two means of identification such as a physical token plus a data item

Unified threat management systems

Combination of security tools including firewalls, intrusion detection systems, VPN's, web content filtering, and anti-spam SW

UP-selling

increasing the value of the sale

Upstream

a firms supplies, suppliers suppliers, processes for managing relationships with them

User ID

Combination of numbers, characters and symbols used to identify a person as a legitimate user of a system