PHIL 100 Lecture Notes - Lecture 19: Institute For Operations Research And The Management Sciences, Procter & Gamble, Social Proof
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. Leverage data to increase revenue and become large
. Caesars Total Rewards Loyalty Card System
- Card used all the time → Slot machines, valet, restaurant
- Gathers demographic as well as transactional data
- Incentivized → Gold, Diamond, Platinum
. Find out who spends most money and which customers are worth increased marketing
. What market tactics are appropriate for which customers
. Identify valuable customers and increase company revenue
• Google (and its digital properties)
. Google dominates Internet search volume and controls the lion’s share of the Internet
search advertising business and online advertising dollars. The firm also earns more total
advertising revenue than any other firm, online or off.
. Ranked search results are often referred to as organic or natural search results.
PageRank is Google’s algorithm for ranking search results. PageRank orders organic
search results based largely on the number of websites linking to them, and the “weight”
of each page as measured by its “influence.”
. Google operates from a massive network of server farms containing hundreds of
thousands of servers built from standard, off-the-shelf parts. The cost of the operation is a
significant barrier to entry for competitors. Google’s share of search suggests the firm
realizes economies of scale over rivals required to make similar investments while
delivering fewer results (and hence ads).
. Google uses IP addresses to target ads.
. Geotargeting can also be enabled by the satellite-based global positioning system (GPS)
or based on estimating location from cell phone towers or Wi-Fi hotspots.
• Rent the Runway
. Rent the Runway is NOT a highlight of the sharing economy, enabling consumers to rent
designer dresses at a fraction of the cost. Rent the Runway is NOT the sharing economy --
Piety even said he made a mistake by making us think it was. The sharing economy is
largely P2P, but built on a platform. For instance, Uber provides a platform for P2P (Peer to
Peer) ride sharing -- that is the sharing economy. Sharing economies have the peers in the
P2P relationship owning the assets, not like rent the runway. The book quotes “Rent the
Runway is a highlight of the sharing economy” should we follow the book or what he said
in lecture. In my section he said it’s a sharing economy. So I am lost… I heard this as well-
I’m banking on the fact that it IS sharing economy
In the review just now he said it is NOT so I would bank on that
(well he cannot wait until now to say something else... I will
email him to let him know that if we have a question about that
he should give us full credit… Thanks for letting us know)
. Mobile is an always-on store that encourages users to browse and engage with the
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