Module 5 & 6
Module 5 & 6 MIS 441
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This 4 page Class Notes was uploaded by Becca Savino on Friday February 6, 2015. The Class Notes belongs to MIS 441 at Washington State University taught by Mr. Vithayathil in Winter2015. Since its upload, it has received 130 views. For similar materials see Global eCommerce in Computer Science and Engineering at Washington State University.
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Date Created: 02/06/15
Module 5 Understand Digital Technologies 0 The Binary System 0 Only use 1 s and 0 s 0 Onoff 01 0 Base number is 2 when taking binary code and converting it to number 0 In decimal take the number take it 10 to the power of 1current position 1787 take 7 10quotO There are 16 total numbers you can represent 0 It s easier to represent two states in electronics Ex Light onoff o BitByte Bit is a 0 or 1 Byte is how many spaces Digital vs Information good covered in last class Bundling and Versioning WTP Willingness to pay 0 Based on utility 0 Most dif cult factor to determine 0 Use internet marketing techniques to nd 0 Customer surplus difference between willingness to pay and price charged 0 As an ecommerce merchant you would like the consumer surplus to be as small as possible 0 Apple is quotThe Masterquot at doing this 0 Maybe Microsoft market share What is bundling Selling products together at a lesser price 0 What is versioning Creating multiple versions of the same product at different prices One way to segment the population BundHng Customer 1 2 3 4 Surplus A x x 1 5 Surplus B x x 1 5 0 Bundling utility may be less than the added utility of both products separately 0 If you can gure out everyone s WTP then you can minimize the consumer surplus by choosing a price that will make the most pro t Versioning Same product with a different set of features 0 Prices Base version 5 Enhanced version Features are what distinguishes products It s easier to downgrade a product by turning off features than adding features to products Slide 8 Enhanced Surplus C1 1 7 x price Surplus C2 2 14 x price Price enhanced at base5 and enhanced12 If surplus is the same for base version and enhanced version an assumption would be that they would buy the enhanced version Base 0000 Module 6 Beacon pieces of software on computer that gives people information aboutyou Opt inopt out default opt in you have to manually opt out In Europe They want to limit the information collected on consumers The Right to be Forgotten 0 Want to force companies to delete les Databases why would we discuss in marketing Because marketers use the information on these databases to track you The ability to store the data expands as the internet expands Data is stored in a table WSUAmazon big corporations has thousands of tables of data Basic two elements to calculate revenue 0 What you sold how many units amp How much per unit You don t use revenue as a table because you use other information to calculate the revenue The biggest factor in getting valuable data 0 Know what your looking for what s going to help you run your business better 0 Demographics browsing history psychological pro le ect Data Warehouses Collect firm s data customer and transactional and store in a single location 0 When you store data Be mindful of what you are legally obligated to store 0 Make sure it s backed up somewhere 0 Disaster Recovery having a backup in case something happens to your storage 0 Mirroring Having your data warehouse replicated somewhere else Data Mining 0 Analytical techniques to nd patterns in data model behavior of customers develop customer pro les 0 Unstructured data Amazon reviews you can t put anything tangible to it such as numbers dif cult to analyze Qualitative not quantitative When you see quotWhat s Trendingquot 0 Query driven o Modeldriven o Rulebased Locating servers data centers near where there are cheap power sources 0 quotBig Dataquot 0 Web Traf c email social media content 0 Traditional Doesn t work well with unstructured data 0 Hadoop Open source software solution Customer Relationship Management CRM Salesforcecom was the rst to do CRM 0 Create customer pro les 0 Track product and usage data 0 Demographic and psychographic o Pro table measures 0 Contact history 0 Marketing and sales information 0 Customer data is used to 0 Develop and sell additional product 0 Identify pro table customers 0 Optimize Service delivery Traditional Online Marketing Toos Search Engine Marketing 0 Using your key words in search to pull up the rst results 0 Figuring out how your site can make it up the list on search engine results 0 How networked your site is link to many different pages 0 Organic vs Sponsored 0 Display ad marketing 0 Email Marketing 0 Affiliate Marketing 0 Lead generation marketing Sponsorship marketing Social Marketing Fastest growing tupe of online marketing 0 Four features driving growth 0 Social sign on 0 Collaborative Shopping 0 Network noti cation If you notify someone in your network about a purchase you get coupons 0 Social Search recommendation Twitter Marketing 0 You can pay to have your tweet be high on the search list sponsored Blog Marketing 0 43 Companies use bogs for marketing Idea for starting viral campaigns 0 Should CEO s biog o In the music industry bogging is helpful Be aware of QR Code 2 dimensional bar code 0 Anyone can do it now Couponing Pricing What do you need to know if terms of pricing 0 WTP 0 Cost 0 Competitive pricing
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