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<HTML> <HEAD> <!--SCRIPT LANGUAGE="JavaScript" SRC="http://a1835.g.akamai.net/f/1835/276/3h/www.netlibrary.com/include/js/dictionary_library.js"></SCRIPT> <SCRIPT LANGUAGE="JavaScript"> if (!opener){document.onkeyup=parent.turnBookPage;} </SCRIPT!--> <META HTTP-EQUIV="Cache-Control" CONTENT="no-cache"> <META HTTP-EQUIV="Pragma" CONTENT="no-cache"> <META HTTP-EQUIV="Expires" CONTENT="-1"><META http-equiv="Content-Type" content="text/html; charset=windows-1252"><SCRIPT>var PrevPage="Page_268";var NextPage="Page_270";var CurPage="Page_269";var PageOrder="277";</SCRIPT> <TITLE>Document</TITLE> </HEAD> <BODY BGCOLOR="#FFFFFF"><CENTER><TABLE BORDER=0 WIDTH=100% CELLPADDING=0><TR><TD ALIGN=CENTER> <TABLE BORDER=0 CELLPADDING=2 CELLSPACING=0 WIDTH=100%> <TR> <TD ALIGN=LEFT><A HREF='Page_268.html'>Previous</A></TD> <TD ALIGN=RIGHT><A HREF='Page_270.html'>Next</A></TD> </TR> </TABLE></TD></TR><TR><TD ALIGN=LEFT><P><A NAME='JUMPDEST_Page_269'/><A NAME='{918}'/><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH='100%'><TR><TD ALIGN=RIGHT><FONT FACE='Times New Roman, Times, Serif' SIZE=2 COLOR=#FF0000>Page 269</FONT></TD></TR></TABLE><A NAME='{919}'/><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0><TR> <TD ROWSPAN=5></TD> <TD COLSPAN=3 HEIGHT=12></TD> <TD ROWSPAN=5></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR><TD></TD> <TD><FONT FACE='Times New Roman, Times, Serif' SIZE=3>dealership I knew more about that truck than the salesman did. I knew what engine options, colors, power features, and configurations the SUV came in, far more than the salesman did. I had already done some comparisons of several SUVs and knew exactly what I was buying. The Web makes consumers very informed buyers—more knowledgeable at times about product and services features, options, selections, and pricing than the traditional sales personnel.</FONT></TD><TD></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR> <TD COLSPAN=3 HEIGHT=1></TD></TR></TABLE><A NAME='{91A}'/><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0><TR> <TD ROWSPAN=5></TD> <TD COLSPAN=3 HEIGHT=17></TD> <TD ROWSPAN=5></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR><TD></TD> <TD><FONT FACE='Times New Roman, Times, Serif' SIZE=3><B>The Product is the Message</B></FONT></TD><TD></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR> <TD COLSPAN=3 HEIGHT=1></TD></TR></TABLE><A NAME='{91B}'/><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0><TR> <TD ROWSPAN=5></TD> <TD COLSPAN=3 HEIGHT=12></TD> <TD ROWSPAN=5></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR><TD></TD> <TD><FONT FACE='Times New Roman, Times, Serif' SIZE=3>Unlike traditional retail channels, selling and buying on the Web truly take on the Marshall McLuhan adage, <I>"the medium is the message."</I> On the Web a digital product such as an e-mail message can contain as its content some digitized intelligence such as a company report, some market information or a stock quote, etc., and may be sold directly as a commodity or conversely used as a marketing component. On the Web "the message" can also be ''the product" of the transaction or the medium for "the marketing offer." In the electronic retailing of digital products, the value of the transaction may well be in the content of the message. With the voluminous number of interactions that are occurring daily on the Web, McLuhan may well have seen it coming when he predicted that the only recourse to survival in our modern world would be pattern recognition.</FONT></TD><TD></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR> <TD COLSPAN=3 HEIGHT=1></TD></TR></TABLE><A NAME='{91C}'/><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0><TR> <TD ROWSPAN=5></TD> <TD COLSPAN=3 HEIGHT=12></TD> <TD ROWSPAN=5></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR><TD></TD> <TD><FONT FACE='Times New Roman, Times, Serif' SIZE=3>Electronic retailing changes not only the distribution and marketing of products but more importantly it also alters the process of consumption and the related transactions of buying and selling. The data, which is an aftermath of every product and service purchased on the Web, is the ore that can be mined to develop customized products, forecast demand, profile customers, and improve relational marketing. Because of the interactive nature of electronic retailing, consumers not only order and buy products online, they also search for product specifications (thus revealing their preferences and criteria) and in some venues their willingness to pay.</FONT></TD><TD></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR> <TD COLSPAN=3 HEIGHT=1></TD></TR></TABLE><A NAME='{91D}'/><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0><TR> <TD ROWSPAN=5></TD> <TD COLSPAN=3 HEIGHT=12></TD> <TD ROWSPAN=5></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR><TD></TD> <TD><FONT FACE='Times New Roman, Times, Serif' SIZE=3>The act of retailing on the Web is an interactive one in which the consumer can negotiate, exchange information, specify, and customize the product and services he or she wants from the retailer. For the electronic retailer it is of paramount importance that it analyze what consumers are doing and saying. Data mining can serve retailers by providing them the technology to understand how to sell more, learn what's working, and learn what's not. It can assist them in</FONT><FONT FACE='Times New Roman, Times, Serif' SIZE=3 COLOR=#FFFF00><!-- continue --></FONT></TD><TD></TD></TR><TR> <TD COLSPAN=3></TD></TR><TR> <TD COLSPAN=3 HEIGHT=1></TD></TR></TABLE><A NAME='{91E}'/></FORM></P></TD></TR></TABLE><P><FONT SIZE=0 COLOR=WHITE></CENTER><A NAME="bottom"> </A><!-- netLibrary.com Copyright Notice --> </BODY></HTML>
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