Ch 11. Online Service Industries  Major Features  The Trends  Online Banking, Brokerage, Insurance, and Real Estate  Online Travel Services and Trends.

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Presentation transcript:

Ch 11. Online Service Industries  Major Features  The Trends  Online Banking, Brokerage, Insurance, and Real Estate  Online Travel Services and Trends  Online Career Services and Trends

Major Features of Online Service Industries  Online Service Industries have the ability to  Collect, store, and disseminate high value information  Provide reliable, fast communication;  Personalize and customize servie or components of service.

The Trends in Online Financial Services  By 2007 more than 57 million households will be banking online and over 40 million households will be trading stocks online.  In the insurance and real estate, consumers seek information online to complete the purchase.  Financial services are now more and more integrated.

Key Features of Online Banking and Brokersage, Insurance, and Real Estate Industries  Multichannel (MC firms ) firms are growing faster  Customer acquisitions costs are getting higher  MC firms drawing more visitors  Nonfinancial institutions are joining the boom  Growing account aggregations

The Success of Online Travel Services  They offer convenience as one s-stop shopping places.  Travel is information intensive and therefore particularly suited for online  Airline, car rental, and hotel services grow faster than others  Corporation are outsourcing their travel offices

Online Career Services and Trends  More efficient and cost effective  Highly flexible  Reduces search time and cost effective  More and more middle level jobs are being posted online  Monster Worldwide is now the biggest in the business through acquisitions and rapid consolidation.