COMMERCE 2KA3 Lecture Notes - Lecture 10: Unstructured Data, Data Mining, Outsourcing
19 Jun 2015
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Document Summary
Chapter 10: e-commerce: focusing on e-commerce websites and their functions, case study: groupon, using social capital and a community pool, losing money. Solution of branding and dominating the market in the new idea: paypal advice, 1. Reduce e-commerce risks (people afraid of credit card info) Internet began in 1995: increasing use-cloud computing, mobile, etc. in e-commerce, technology growing rapidly, features of e-commerce, interactivity, available anywhere, universal standards. Previously of networking only within an organization: richness. Idea of future developments of touch and smell functions: information density, personalization, social technology. Research project small world: connection between any 2 people in the world = 7 people, 1. Idea of having access to different information on different sites. Internet reduces this asymmetry-access to research: consumers can reach and decide on product purchases from online research, 2. Brick and mortar commerce faces costs in changing their prices: 3. Idea of learning customer segments and selling more to the higher income consumer.
