A
What is Network Effects?
When a network effect is present, the value of a product or service increases according to the number of others using it.
In advertising business, what do the companies do to defend their values?
User profiling
How many levels of digital marketing maturity?
Nascent, Emerging, Connected, Multimoment
Definition of Business Model?
Business Model defines the way a firm creates, delivers, and captures (and defends) value.
What is the difference between Omnichannel and Multi-Channel?
the key to omnichannel transition is to think of different channels as complements, not as substitutes
Six Enablers of Digital Marketing Maturity?
Technical Enablers: Connected Data, Automation & Integrated Tech, Actionable Measurement
Organizational Enablers: Specialist Skills, Strategic Partnerships, & Agile Teaming/Fail-fast culture
What are the main factors of re-examining the essence of the business?
Scope
Business Model
Platform
What is User-led Innovation Model?
To emphasize the important role of users in developing and modifying the products
What is Open Innovation?
as product lifecycles become shorter and R&D costs continue to increase.
What do you know about Asymmetric Business Model?
- A company identifies a complement in different industry
- Value is created by commoditizing that complement
- The complement is bundled with the core product of the company, where profits are generated
As data and customers become critical assets of a company, firms must think about consumers’...........and how competencies can help serve those consumer need.
consumers' point of view
What are three types of 2-sided network effects?
Marketplace (2-sided) (Audience & Advertisers)
Platform (2-sided) (Engineers/Developers - Users)
Asymptotic Marketplace (2-sided) (Value of Supply Increases up to a Point then diminishes)
Instant Messaging: Whatsapp, Slack, Facebook Messenger are examples of which NFX?
Personal Utility
According to SEA report, how many percent of new digital consumers out of total service consumers?
36%
How many types of Network Effect? List them out.
Physical (e.g. landline telephones)
Protocol (e.g. Ethernet)
Personal Utility (e.g. iMessage, WhatsApp)
Personal (e.g. Facebook)
Market Network (e.g. HoneyBook, AngelList)
Marketplace (e.g. eBay, Craigslist)
Platform (e.g. Windows, iOS, Android)
Asymptotic Marketplace (e.g. Uber, Lyft)
Data (e.g. Waze, Yelp!)
Tech Performance (e.g. Bittorrent,Skype)
Language (e.g. Google, Xerox)
Belief (currencies, religions)
Bandwagon (e.g. Slack, Apple)