Free Essay

E Com

In: Computers and Technology

Submitted By nanawi
Words 1891
Pages 8
E-commerce 2014 business. technology. society. tenth edition

Kenneth C. Laudon Carol Guercio Traver

Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall

Chapter 11
Social Networks, Auctions, and Portals

Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall

1

Social Networks and Online Communities
Internet began as communications medium for scientists Early communities were bulletin boards, newsgroups (e.g., the Well) Today social networks, photo/video sharing, blogs have created new era of online socializing Social networks now one of most common Internet activities
Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall Slide 11-3

What Is an Online Social Network?
Working definition
Group of people Shared social interaction Common ties Sharing an area for period of time

Portals and social networks:
Moving closer together Community sites adding portal-like services Searching, news, e-commerce services

Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall

Slide 11-4

2

The Growth of Social Networks and Online Communities
Top 10 social networks account for more than 90% social networking activity Facebook users: More than 50% are 35+ Unique audience size:
Top four U.S. social networks: 270 million Top four portal/search engines: 680 million

Annual advertising revenue
U.S. social network sites: $4.45 billion Top four portal/search engines: $22 billion

Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall

Slide 11-5

Top 10 Social Network Sites 2013

Figure 11.1, Page 696
Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall

SOURCES: Based on data comScore, 2013b Slide 11-6

3

Turning Social Networks into Businesses
Social networks monetizing audiences through advertising Business use of social networks
Marketing and branding tool

Slide 11-7 Slide 11-8

Facebook pages, fans Twitter feeds

Reaching younger audience than Web sites and e-mail Listening tool
Monitoring online reputation

Extension of CRMs
Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall

Insight on Society: Class Discussion

The Dark Side of Social Networks
How can businesses accurately judge whether negative comments are trolling or have merit and should be responded to? Have you ever left a negative comment about a product or business? Have others’ ’ negative comments influenced a purchase? Should a business have any say in how an employee uses social networks outside of the office?
Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall



4

Types of Social Networks and Their Business Models
General communities:
Offer opportunities to interact with general audience organized into general topics Advertising supported by selling ad space on pages and videos

Practice networks:
Offer focused discussion groups, help, and knowledge related to area of shared practice May be profit or nonprofit; rely on advertising or user donations
Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall Slide 11-9

Types of Social Networks and Their Business Models (cont.)
Interest-based social networks:
Offer focused discussion groups based on shared interest in some specific subject Usually advertising supported

Affinity communities:
Offer focused discussion and interaction with other people who share same affinity (self or group identification) Advertising and revenues from sales of products

Sponsored communities:
Created by government, nonprofit, or for-profit organizations for purpose of pursuing organizational goals

Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall

Slide 11-10

5

Social Network Features and Technologies
Profiles Friends network Network discovery Favorites Games, widgets, apps E-mail Storage
Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall

Instant messaging Message boards Online polling Chat Discussion groups Experts online Membership management tools
Slide 11-11

The Future of Social Networks
Facebook’s growth has slowed ’ Growth of social networks focused on specific shared interests Network fatigue
Reuter study shows Facebook users spending less time on the site

Financial future
Relationship between sales and Likes unclear
Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall Slide 11-12

6

Insight on Technology: Class Discussion

Facebook Has Friends
What does Mark Zuckerberg, Facebook’s CEO, ’ mean by the “social graph”? ” Why have Facebook applications become so popular? Do they have any limitations? What are the core differences between Google+ and Facebook? Does Google+ offer significant advantages? How has Microsoft responded? Is Tumblr a significant competitor? Why or why not?
Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall Slide 11-13

Online Auctions
Online auction sites are among the most popular C2C sites on the Internet eBay: Market leader Several hundred different auction sites in United States alone Established portals and online retail sites increasingly are adding auctions to their sites
Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall Slide 11-14

7

Defining and Measuring the Growth of Auctions and Dynamic Pricing
Dynamic pricing
Airline tickets, coupons, college scholarships Prices based on demand characteristics of customer and supply situation of seller

Many types of dynamic pricing
Bundling Trigger pricing Utilization pricing Personalization pricing

Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall

Slide 11-15

Defining and Measuring the Growth of Auctions and Dynamic Pricing (cont.)
Auctions: Type of dynamic pricing
C2C auctions
Auction house an intermediary

B2C auctions
Business owns assets; often used for excess goods

Can be used to
Sell goods and services Allocate resources Allocate and bundle resources
Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall Slide 11-16

8

Benefits of Auctions
Liquidity Price discovery Price transparency Market efficiency Lower transaction costs Consumer aggregation Network effects
Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall Slide 11-17

Risks and Costs of Auctions for Consumers and Businesses
Delayed consumption costs Monitoring costs
Possible solutions include:
Fixed pricing Watch lists Proxy bidding

Equipment costs Trust risks
Possible solution—rating systems

Fulfillment costs
Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall Slide 11-18

9

Market-Maker Benefits
No inventory No fulfillment activities
No warehouses, shipping, or logistical facilities

eBay makes money from every stage in auction cycle
Transaction fees Listing fees Financial services fees Advertising or placement fees

Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall

Slide 11-19

Internet Auction Basics
Different from traditional auctions
Last much longer (usually a week) Variable number of bidders who come and go from auction arena

Market power and bias in dynamically priced markets
Neutral: Number of buyers and sellers is few or equal Seller bias: Few sellers and many buyers Buyer bias: Many sellers and few buyers

Fair market value
Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall Slide 11-20

10

Internet Auction Basics (cont.)
Price Allocation Rules
Uniform pricing rule: Multiple winners who all pay the same price Discriminatory pricing rule: Winners pay different amount depending on what they bid

Public vs. private information
Prices bid may be kept secret
Bid rigging

Open markets
Price matching
Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall Slide 11-21

Bias in Dynamically Priced Markets

Figure 11.3, Page 715
Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall Slide 11-22

11

Types of Auctions
English auctions:
Single item up for sale to single seller Highest bidder wins

Traditional Dutch auction:
Uses a clock that displays starting price Clock ticks down price until buyer stops it

Dutch Internet auction:
Public ascending price, multiple units Final price is lowest successful bid, which sets price for all higher bidders
Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall Slide 11-23

Types of Auctions (cont.)
Name Your Own Price Auctions
Users specify what they are willing to pay for goods or services and multiple providers bid for their business Prices do not descend and are fixed
Consumer offer is commitment to buy at that price

Enables sellers to unload unsold excess capacity Example: Priceline

Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall

Slide 11-24

12

Types of Auctions (cont.)
Group buying auctions (demand aggregators)
Group buying of products at dynamically adjusted discount prices based on high volume purchases Two principles
Sellers more likely to offer discounts to buyers purchasing in volume Buyers increase their purchases as prices fall

Professional service auctions
Example: Elance.com

Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall

Slide 11-25

Factors to Consider When Choosing Auctions
CONSIDERATIONS Type of product Stage of product life cycle Channel-management issues Type of auction Initial pricing Bid increment amounts Auction length Number of items Price-allocation rule Information sharing
Table 11.9, p 721
Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall Slide 11-26

DESCRIPTION Rare, unique, commodity, perishable Early, mature, late Conflict with retail distributors; differentiation Seller vs. buyer bias Low vs. high Low vs. high Short vs. long Single vs. multiple Uniform vs. discriminatory Closed vs. open bidding

13

Seller and Consumer Behavior at Auctions
Seller profit: Arrival rate, auction length, and number of units at auction Auction prices not necessarily the lowest
Herd behavior

Unintended results of participating in auctions:
Winner s regret Seller s lament Loser s lament

Consumer trust an important motivating factor in auctions
Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall Slide 11-27

Figure 11.4, Page 725

Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall



’ ’

Auction Profits

SOURCE: Based on data from Vakrat and Seidmann, 1998.
Slide 11-28

14

When Auction Markets Fail: Fraud and Abuse in Auctions
Markets fail to produce socially desirable outcomes in four situations:
1. 2. 3. 4.

Information asymmetry Monopoly power Public goods Externalities

In 2012, Internet auction fraud is 10% of total Internet fraud
Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall Slide 11-29

E-commerce Portals
Most frequently visited sites on Web Original portals were search engines
As search sites, attracted huge audiences

Today provide:
Navigation of the Web Commerce Content (owned and others )

Compete on reach and unique visitors Enterprise portals
Help employees find important organizational content

Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall



Slide 11-30

15

Top Five Portal/Search Engines in United States

Figure 11.5, Page 728
Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall

SOURCE: Based on data from comScore, 2011.
Slide 11-31

Insight on Business: Class Discussion

The Transformation of AOL What types of decisions have led to AOL’s decline in popularity? ’ What are AOL’s current strategies? ’ Do you think its new strategies will succeed? Have you engaged in any social video interaction similar to HuffPost Live discussions?
Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall Slide 11-32

16

Types of Portals
General purpose portals:
Attempt to attract very large general audience Retain audience by providing in-depth vertical content channels Example: Yahoo, MSN

Vertical market portals:
Attempt to attract highly-focused, loyal audiences with specific interest in:
Community (affinity group): for example, iVillage Focused content: for example, ESPN.com
Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall Slide 11-33

Two General Types of Portals: General Purpose and Vertical Market Portals

Figure 11.6, Page 732
Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall Slide 11-34

17

Portal Business Models
General advertising revenue Tenancy deals
Fixed charge for number of impressions, exclusive partnerships, “sole providers”

Commissions on sales Subscription fees
Charging for premium content

Applications and games

Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall

Slide 11-35

Revenue per Customer and Market Focus

Figure 11.7, Page 733
Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall Slide 11-36

18

Copyright © 2014 Pearson Education, Inc. Publishing as Prentice Hall

Slide 11-37

19…...

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E-Bay

...Victor Markovski March 5, 2012 Professor Fitzpatrick e-Bay AuctionWeb soon took over Pierre's entire domain, www.ebay.com, short for Echo Bay, which was the name of his consulting firm at the time. When the eBay had taken off, Pierre realized eBay became very time consuming task. Pierre then came up with the idea to charge a fee of twenty-five cents to slow the use of the website. Pierre’s idea was unsuccessful; Pierre then hired someone to open all of the envelopes that were coming in. Pierre then quit his job and began his new venture. Pierre soon realized he could not expand the company alone. Chris Agarpao was hired as eBay's first employee and Jeffrey Skoll was hired as the first president of the company in early 1996. In November 1996, eBay entered into its first third-party licensing deal, with a company called Electronic Travel Auction to use SmartMarket Technology to sell plane tickets and other travel products. Growth was phenomenal; in January 1997 the site hosted 2,000,000 auctions, compared with 250,000 during the whole of 1996. The company officially changed the name of its service from AuctionWeb to eBay in September 1997. Originally, the site belonged to Echo Bay Technology Group, Omidyar's consulting firm. Omidyar had tried to register the domain name echobay.com, but found it already taken by the Echo Bay Mines, a gold mining company, so he shortened it to his second choice, eBay.com. As the amount of auctions grew dramatically within a year, eBay......

Words: 1218 - Pages: 5

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