Quiz 5: Consumer Markets and Buyer Behavior

Business

Electronic business: Electronic businesses are wide range of commercial activities that take place through internet applications (e-mail and virtual shopping carts). It involves carrying out online transactions with customers. Five categories of electronic business are as follows: 1. Electronic-tailing or virtual-stores on websites 2. Business-to-business transaction 3. Interchange of data electronically 4. E-mail, blogs, instant messaging, and other web-enabled communication tools 5. Gathering of demographic and other product information via internet

STEP BACK OF Z FROM SOCIAL SITE F Z is the major computer gaming company, which has developed many popular games for the social networking sites and mobiles. Now it has decided to step back from the social networking site F. It wants to initiate a gaming platform for its users to play games along with their friends online. Justification: Now the company has to operate on its own and attract customers and also need to retain existing customers. The company is protecting relationships with it users by the following tactics: • As an introductory system, they tend to give the leverage to the user whereby they can switch the platforms. • The users can play games, send gifts, and message their friends on a separate platform which is separated from social posts. • The people can get instant help from the other players by the feature "zfriends". The rankings are also provided for the persons who help their friends. • Apart from its own games, Z also offers the games which are created by the third parties by accepting some fee. Z is also popular in mobile gaming market. It is necessary for Z to concentrate on new profiles and make necessary changes in the business according to the customers. If it satisfies the existing customers, it can attract more customers.

SNIFN has always been exemplary in using the social media for its food and related shows. It has been selling content for quite some time now and it hits upon the concept that 'everybody eats' and that everybody wants to talk and share what they have prepared in their home, or have eaten out. This spreads the talk about the content of SNIFN as well. However, this strategy working for today may as well get obscure in future, something known as Marketing myopia; where a strategy is thought keeping in mind only today's situations, and not of the future changes in the situations and conditions. One threat to this strategy of using social media is that it makes the privacy of the individuals highly vulnerable. A lot of persons interact over the web space to socialize among friends and relatives and share personal information which is highly vulnerable lest it falls in the hands of unauthorized persons. In that case the strategy would backfire. Thus, in order to avoid another case of marketing myopia, they would require being extra cautious on this over usage of social media, and must keep the information highly subjective and confidential by efficient use of level-wise access control. A highly efficient Relational Database Management System managed by a well-qualified and competent Database Administrator would be a safeguard.