MMT an der LMU München | Karteikarten & Zusammenfassungen

Lernmaterialien für MMT an der LMU München

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TESTE DEIN WISSEN
What are direct network effects?
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TESTE DEIN WISSEN
Network effect goods, diffusion of good determines its value (e.g. Telephone, Social Networks)
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TESTE DEIN WISSEN
What are indirect network effects?
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TESTE DEIN WISSEN
System goods, diffusion of good determines supply of complementary products (e.g. MS Windows + software, Blue-ray-player + discs)
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TESTE DEIN WISSEN
What is standardization? Name and explain 3 standardization strategies!
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TESTE DEIN WISSEN
Use of common rules for communication 1) Tweedledum and Tweedledee - 2 equal companies, incompatible standards - build early lead, attract suppliers of complementary products, pre-announce products, offer lower price for longer 2) Battle of Sexes - compatibility is crucial for both firms - agree to use same standard - increase attractiveness of own product by offering cheaper licenses, join future developments, shift standard development to 3rd party 3) Pesky Little Brother - one company has much more power - small brother: adapt standard - big brother: protect IP, change/advance standard frequently
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TESTE DEIN WISSEN
What is the Osbourne Effect?
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TESTE DEIN WISSEN
pre-announcement of new poduct can stop sales of current product becaus consumers wait for next release
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TESTE DEIN WISSEN
What is Arrow's Information Paradox?
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TESTE DEIN WISSEN
The value of an Information Good can only be assessed after its purchase
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TESTE DEIN WISSEN
What are industry and product platforms? What is the difference?
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TESTE DEIN WISSEN
Industry platform: Products / services / technologies developed by one or more firms which serve as foundation for complementary products / services / technologies from 3rd parties Product platform: Set of components and interfaces that can be re-used for faster development and production of new products and services
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TESTE DEIN WISSEN
What are the characteristics of industry platforms?
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TESTE DEIN WISSEN
- two or more user groups - indirect network effects - platform providers play different intermediary roles - trade-off btw. openness and control
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TESTE DEIN WISSEN
What types of gatekeepers exist? How can they be overcome?
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TESTE DEIN WISSEN
- Industry Platforms (e.g. Android) open industry standards and interfaces, decoupling of services and HW - Transmission Networks (e.g. Telekom) regulations that ensure net neutrality, decoupling of infrastructure and services - Navigation Hubs (e.g. Google) Regulations that restrict potential abuse of sign. market power, non-discriminatory search algorithms - Interface to Consumers (e.g. Apple) open industry standards and interfaces, cooperation between HW & SW companies
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TESTE DEIN WISSEN
What is a value chain? How is a platform different?
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TESTE DEIN WISSEN
Set of distinguishable activities a company is carries out to create value for customers Platform: Groups of companies create partial value and complement each other, not sequential
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TESTE DEIN WISSEN
What is price differentiation? What are its three degrees?
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TESTE DEIN WISSEN
Strategy of selling similar product to different customers at different prices 1. degree: individual pricing 2.degree: price bundling (different price depending on amount, version, time etc.) 3. degree: geographical, group-related (e.g. child/adult)
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TESTE DEIN WISSEN
What is the Internet?
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TESTE DEIN WISSEN
A global computer network of interconnected networks that use the Internet protocol suite (TCP/IP).
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TESTE DEIN WISSEN
What is a media company?
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TESTE DEIN WISSEN
- Media as professional producer of information goods - Produce content on/offline, customers pay with money and/or attention
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Beispielhafte Karteikarten für deinen MMT Kurs an der LMU München - von Kommilitonen auf StudySmarter erstellt!

Q:
What are direct network effects?
A:
Network effect goods, diffusion of good determines its value (e.g. Telephone, Social Networks)
Q:
What are indirect network effects?
A:
System goods, diffusion of good determines supply of complementary products (e.g. MS Windows + software, Blue-ray-player + discs)
Q:
What is standardization? Name and explain 3 standardization strategies!
A:
Use of common rules for communication 1) Tweedledum and Tweedledee - 2 equal companies, incompatible standards - build early lead, attract suppliers of complementary products, pre-announce products, offer lower price for longer 2) Battle of Sexes - compatibility is crucial for both firms - agree to use same standard - increase attractiveness of own product by offering cheaper licenses, join future developments, shift standard development to 3rd party 3) Pesky Little Brother - one company has much more power - small brother: adapt standard - big brother: protect IP, change/advance standard frequently
Q:
What is the Osbourne Effect?
A:
pre-announcement of new poduct can stop sales of current product becaus consumers wait for next release
Q:
What is Arrow's Information Paradox?
A:
The value of an Information Good can only be assessed after its purchase
Mehr Karteikarten anzeigen
Q:
What are industry and product platforms? What is the difference?
A:
Industry platform: Products / services / technologies developed by one or more firms which serve as foundation for complementary products / services / technologies from 3rd parties Product platform: Set of components and interfaces that can be re-used for faster development and production of new products and services
Q:
What are the characteristics of industry platforms?
A:
- two or more user groups - indirect network effects - platform providers play different intermediary roles - trade-off btw. openness and control
Q:
What types of gatekeepers exist? How can they be overcome?
A:
- Industry Platforms (e.g. Android) open industry standards and interfaces, decoupling of services and HW - Transmission Networks (e.g. Telekom) regulations that ensure net neutrality, decoupling of infrastructure and services - Navigation Hubs (e.g. Google) Regulations that restrict potential abuse of sign. market power, non-discriminatory search algorithms - Interface to Consumers (e.g. Apple) open industry standards and interfaces, cooperation between HW & SW companies
Q:
What is a value chain? How is a platform different?
A:
Set of distinguishable activities a company is carries out to create value for customers Platform: Groups of companies create partial value and complement each other, not sequential
Q:
What is price differentiation? What are its three degrees?
A:
Strategy of selling similar product to different customers at different prices 1. degree: individual pricing 2.degree: price bundling (different price depending on amount, version, time etc.) 3. degree: geographical, group-related (e.g. child/adult)
Q:
What is the Internet?
A:
A global computer network of interconnected networks that use the Internet protocol suite (TCP/IP).
Q:
What is a media company?
A:
- Media as professional producer of information goods - Produce content on/offline, customers pay with money and/or attention
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