1. Why did most communities in the early days of e-commerce fail? What factors enable some online social networks to prosper today?
2. How does a social network differ from a portal? How are the two similar?
Portals began as search engines and then added content, internet, and e-commerce services. Social networks were meant to be social sites with chat groups, bulletin boards, and so on
3. What is personalization, or personal value pricing, and how can it be used at the beginning of a product’s life cycle to increase revenues?
Personalization adjusts price based on the merchants' estimate of how much the customer truly values the product.
4. List and briefly explain three of the benefits of auction markets.
Liquidity: sellers and buyers are able to find each other quick and easy. Price Discovery: Buyers and sellers can quickly and efficiently develop prices for items that are difficult to assess. Price Transparency: Everyone in the world can see the asking and bidding prices for items.
5. What are the four major costs to consumers of participating in an auction?
Delayed Consumption Cost, Monitoring Cost, Equipment Cost, and Fulfillment Cost
6. What is an auction aggregator and how does it work?
Aggregators use computer programs to search thousands of web auction sites, and aggregate information on products, bids, auction duration, and bid increments.
7. What three characteristics define a portal site today?
8. List and briefly explain the main revenue sources for the portal business model.
ISP Services: provide web access and email services for a monthly fee
General Advertising: Charging for impressions delivered
Tenancy Deals: Fixed charge for guaranteed number of impressions
Commissions on sales: Revenue based on sales at the site by independent providers
Subscription Fees: Charging for premium content
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