Question

In: Computer Science

2. How has e-business transformed marketing? a. Explain how social networking and the "wisdom of crowds”...

2. How has e-business transformed marketing? a. Explain how social networking and the "wisdom of crowds” help companies improve their marketing. b. Define how behavioral targeting and explain how it works at individual Web sites and on advertising networks. c. Define the social graph and explain how it is used in e-commerce marketing.

Solutions

Expert Solution

2.

Solution:

The e-commerce change the market in the following ways:

Easy to start a business:

  • From anywhere, anyone can start its business. The product can be sell globally by the websites. Any kind of product such as clothing, furniture, plants, tools etc can be sell by online stores.
  • For developing an online business, it is very easy. Only a need of a e-commerce website, a theme and the content.
  • It beings the ease of creating and doing the business.

Personalized experience:

  • E-commerce provide the customer to personalize their requirements and as per their requirements internet shows the results.
  • The internet know what you want and what best fits for you.
  • There is no need to take the suggestions from anyone to buy something.
  • As per the choice, the internet will help.
  • Along with the product, the internet explains all the specifications of the product and what best fits for the customer.

Price of the products:

  • E-commerce also affects the price of the products. The price of the online products are much cheaper than the offline products.
  • Also, the customer has the option to browse many websites to get to know about the prices of the product.
  • At the end, prices are the most for the people, so they buy with the online sits since, they provide the products in a less price.

So, the above are some points that describes that e-commerce change the market.

a.

Solution:

  • With the help of the social networking sites, thousands of people are able to see and interact with the business firms easily.
  • They are also able to give the feedback of the product and services of the firm.
  • The customers are able to provide their likes and dislikes for the products of the firm.
  • Also, the products and the services of the business can be advertise with the help of social sites.
  • Wisdom of crowds: A large number of people are able to give the better decisions for the products rather than a single person.
  • By actively looking to the feedback of the customers, this makes feel like the company care about them and the advice of the customer are also being taken care of.

b.

Solution:

  • Behavioural targeting refers to observing the interest and the intentions of the individuals.
  • The websites grabs the data of the visitor browser and store it in its database.
  • With the help of the gathered data, the firm tries to get to know about the customer interests and develop the precise profits.

c.

Solution:

  • A social graph refers to the graph that depicts about all the people you know and the people they know.
  • A digital graph refers to the graph that is a mapping of all online social relationships which are significant.
  • It is being observer that everyone is related to at most 6 links. Hence, any of product purchased by a person, influence the product you friends and the purchase of family and vice-versa.

venereology answered 1 year ago
Next > < Previous

Related Solutions

Explain current trends in business ethics and social responsibility. Explain how social media and marketing exposure...
Explain current trends in business ethics and social responsibility. Explain how social media and marketing exposure have impacted existing digital ethics and social responsibility policies. Think of globalization as you prepare your response. Include examples from a company outside the United States. Discuss how you would incorporate business ethics and social responsibility into research that you conduct within your specialization. Recommend ethical standards as though you were running the organization.
Identify how technology applications such as e-mail, the Internet, telecommunications, and social networking can both facilitate...
Identify how technology applications such as e-mail, the Internet, telecommunications, and social networking can both facilitate and hinder personal time management.
Identify how technology applications such as e-mail, the Internet, telecommunications, and social networking can both facilitate...
Identify how technology applications such as e-mail, the Internet, telecommunications, and social networking can both facilitate and hinder personal time management
How are apps, Skype, tweets, social networking, and virtual meetings changing business? How might apps and...
How are apps, Skype, tweets, social networking, and virtual meetings changing business? How might apps and Skype be employed for internal and external communication? How are telecommuting situations, where your first meeting takes place over email, and you never meet in person, changing business interaction? How does this change “the stakes” of your first email and subsequent emails? Is it really possible to form a professional relationship over email? Have you ever experienced a business relationship like this? Was it...
Suppose the marketing research firm would like to examine if the social networking site that a...
Suppose the marketing research firm would like to examine if the social networking site that a person primarily uses is influenced by his or her age. In a randomly drawn sample, 530 social network users were asked which site they primarily visited. These data are presented in the following table along with each person's age group: Social Media Age (years) Facebook Twitter LinkedIn 10-17 21 18 12 18-34 41 66 44 35-54 62 63 61 55 and older 61 43...
Suppose a marketing research firm would like to examine if the social networking site that a...
Suppose a marketing research firm would like to examine if the social networking site that a person primarily uses is influenced by his or her age. In a randomly drawn​ sample, 344 social network users were asked which site they primarily visited. These data are presented in the following table along with each​ person's age group. Age Group Site A Site B Site C 2-17 26 14 2 18-34 90 35 12 35-54 92 19 18 55+ 27 3 6...
Suppose a marketing research firm would like to examine if the social networking site that a...
Suppose a marketing research firm would like to examine if the social networking site that a person primarily uses is influenced by his or her age. In a randomly drawn​ sample, 361 social network users were asked which site they primarily visited. These data are presented in the following table along with each​ person's age group. Complete parts a. through c. below. Alpha = .05 Social Networking Site Age_Group Site_A Site_B Site_C 2–17 27 16 1 18–34 110 25 11...
Question 01: How are apps, Skype, tweets, social networking, and virtual meetings changing business? How might...
Question 01: How are apps, Skype, tweets, social networking, and virtual meetings changing business? How might apps and Skype be employed for internal and external communication? Question 02: How are telecommuting situations, where your first meeting takes place over email, and you never meet in person, changing business interaction? Question 03: How does this change “the stakes” of your first email and subsequent emails? Is it really possible to form a professional relationship over email? Question 04: Have you ever...
Wisdom Learning is an e-learning business that specialises in providing online learning resources in accounting, economics,...
Wisdom Learning is an e-learning business that specialises in providing online learning resources in accounting, economics, and marketing management. The adjusted trial balance of Wisdom Learning as at 30 June 2019 as follows. Debit $ Credit $ Cash at Bank 17200 Accounts Receivable 3900 Office Supplies 900 Prepaid Rent 3000 Equipment 60000 Accumulated Depreciation - Equipment 300 Furniture 27000 Accumulated Depreciation - Furniture 450 Accounts Payable 12300 Salary Payable 1350 Interest Payable 150 Unearned Service Revenue 2400 Loan Payable 60000...
Wisdom Learning is an e-learning business that specialises in providing online learning resources in accounting, economics,...
Wisdom Learning is an e-learning business that specialises in providing online learning resources in accounting, economics, and marketing management. The adjusted trial balance of Wisdom Learning as at 30 June 2019 as follows. Wisdom Learning is an e-learning business that specialises in providing online learning resources in accounting, economics, and marketing management. The adjusted trial balance of Wisdom Learning as at 30 June 2019 as follows. Debit $ Credit $ Cash at Bank 17200 Accounts Receivable 3900 Office Supplies 900...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT