MIS 304 Exam 2| 73 Questions and Answers(A+ Solution guide)

disintermediation - cutting out the middleman and reaching customers more directly and efficiently. reintermediation - reintroduce middle men in order to reduce the chaos brought on by disintermediation. Mas customization - helps firms tailor their p/s to meet a customers particular needs on a large scale. still allows for economies of scale ex. dell lets you design a computer nike lets you make custom tennis shoes group buying - groupon or living social negotiate special volume discounts with local businesses and offer them to members in form of daily deals. can help get customers in the door, but the significant discounts can be costly the long tail - catering to niche markets in addition to purely selling to mainstream products. online markets mean you don't have to pay to have self space in brick and mortar so you can still make money off of a movie even if you only sell a few attracting and maintaining customers online - 1. offer something unique 2. motivate people to visit, stay and return. (Whats you're USP) 3. advertise your presence on the web (Use QR codes) 4. learn from your website (exit rate, bounce rate, web analytics) online consumers hierarchy of needs (3 of them) - representational delight functional convenience structural firmnessrepresentational delight - aesthetically pleasing. nice to look at. the better looking, the more likely they are to visit, stay and return. functional convenience - easy to use.