Digital Marketing Ch. 2

3. quality management technique that results in near-perfect products; technically, results that fall within six standard deviations from the mean of a normal distribution.
4. implementation of processes and software that integrates all aspects of the business from manufacturing resource planning and scheduling through service functions like human resources.
5. bringing business entities or businesses and their customers together to create mutually valuable outcomes.
7. a way to connect brands and their customers and business partners in a direct, non-linear fashion.
11. a supply chain that operates in response to demand signals from customers.
13. an integrated value chain that operates exclusively on the internet.
14. intermediaries through which products and information about transactions move in the course of a single exchange.

1. the idea that service is the basis of all economic exchange, making all firms service providers and all products essentially services.
2. a systematic attempt to make business processes more efficient.
6. an integrated supply chain in which transactions are conducted electronically.
8. the downstream portion of the value chain, the channel from suppliers to producers.
9. essentially the usefulness (economic utility) of the product less its price; also known as "customer value" or "customer perceived value."
10. general term used to describe the digitizing of business information like orders and invoices so that they may be communicated electronically between suppliers and customers.
12. a device, often a microchip, that becomes part of another device, rendering various services, often doing so without human intervention.