List and describe five types of data used by B2C retailers
Not what you're looking for?
List five types of data that might be collected and used by a B2C retailer. Answer the following for each of the types of data.
Briefly define the category. Avoid using specific attributes; rather use broad categories. For example, instead of saying customer's address or phone number, you would say "demographics" which includes a wide range of customer specific attributes.
Provide an example of the data.
Provide an example of how an e-commerce company might use the data.
Describe challenges to collecting and legitimately using the data.
List three business functions that rely on collecting a range of customer, inventory, market, and technological data. For each, briefly describe a financial benefit of applying this data.
How does e-commerce (vs. brick and mortar) facilitate the collection and use of relevant data?
Visit four e-commerce sites you are familiar with and read the privacy policy on each. What sort of verbiage is common among them? Do they tend to be clear and concise? Do they address common privacy fears? What role does the privacy policy play in collecting and using data?
This assignment is to be put into a memo for management.
Purchase this Solution
Solution Summary
The solution lists and describes five types of data used by B2C retailers. The category is briefly defined.
Solution Preview
ANSWERS
You may include the following information on the memo.
1. Purchase transaction information. This data includes the specific products customer bought over time. An example of this information is the product's stock keeping units or SKU. This information can be used by the B2C in identifying how to market new products to existing customers. A company without a data collection system would have to rely on other parties to supply this information. Moreover, the way the company collects such data (i.e. Internet cookies) might become questionable as an invasion of privacy.
2. Customer visit information. An example of this data is how many minutes a customer stayed. This information tracks how the customer used the B2C's platform. The company might use this data in designing a more effective marketplace (higher sales per customer visit). Again, like in collecting purchase transaction information, cookies used to collect this data might be questionable.
3. Customer demographics including customer ...
Purchase this Solution
Free BrainMass Quizzes
Six Sigma for Process Improvement
A high level understanding of Six Sigma and what it is all about. This just gives you a glimpse of Six Sigma which entails more in-depth knowledge of processes and techniques.
Basics of corporate finance
These questions will test you on your knowledge of finance.
Organizational Leadership Quiz
This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.
Business Processes
This quiz is intended to help business students better understand business processes, including those related to manufacturing and marketing. The questions focus on terms used to describe business processes and marketing activities.
Paradigms and Frameworks of Management Research
This quiz evaluates your understanding of the paradigm-based and epistimological frameworks of research. It is intended for advanced students.