OMIS 350 Noguera Final

Which of the following scenarios represents a customer acquisition cost of $100?

A company spends $100,000 on advertising and marketing in one month. They gain 1,000 new customers in that month.

Why is MIS critical in the implementation of Six Sigma techniques?

During the Measure and Analyze steps of the Six Sigma procedure, collecting data and using data analytics are essential, particularly when measuring variances in products or processes.

Because employee education and training are so important to ensuring that all employees can participate in lean manufacturing processes, ________ systems play a key role in success.

Human resources management

A sales associate has been hired to write blog posts that will be regularly published on a blog about new beauty products. The blog posts are designed to include the SEO terms that relate to the company's newest skin care product, using the keywords that will also be used in their advertising campaigns. What part of the e-commerce timeline would this be a part of?

Implementation

E-commerce transactions that are executed using wireless mobile devices are known as

M-commerce

Customer Acquisition Costs

The amount of money a firm spends to convince a customer to buy (or in the case of free products, try or use) a product or service.

What does business-to-consumer (B2C) e-commerce replace?

brick-and-mortar store locations

Management information systems allow managers to build upon an organization's existing strengths to create

competitive advantage

Simon sells products with higher perceived values than his competitors' offerings. This provides Simon's firm with

competitive advantage

Sears revolutionized catalog (mail order) sales but failed to make the e-commerce leap. Amazon capitalized on this technology. What concept underlies Amazon's success?

disruptive innovation

Making use of the research and development conducted by the market innovator and then developing a competing product at a lower price is referred to as the ________ strategy.

fast follower

Rather than creating a new product, Chinese manufacturers have been notably successful at adopting a different strategy. They have been able to make and offer a competing product so rapidly that the majority of adopters have a choice when purchasing the product for the first time. This is referred to as a

fast-follower strategy

With the increasing presence of Internet e-commerce sites, the force of customers has

increased

Which of these is the "L" factor that managers examine while conducting a PESTEL analysis?

legal considerations

E-commerce ________ includes creating marketing messages that contain the individual's name, appeal to his/her interests, and take their purchase behavior into account.

personalization

In the financial world, some Nigerian banks have used a fast-follower strategy. To reap benefits, they have

quickly developed and marketed products introduced by Western banks.

When competitors seek to gain competitive advantage through price leadership or by making product improvements, Professors W. Chan Kim and Renee Mauborgne would say they are using a(n)

red ocean strategy

If McDonald's and Burger King raise prices too high, customers may switch from burgers to tacos. This illustrates Porter's force of

substitutes

For strategic planning, managers should choose an aggressive strategy if a SWOT analysis reveals that the organization faces weak external ________ and its external opportunities are matched with internal strengths.

threats

Online content that has been created and posted by unpaid contributors such as customers or fans of a product or service is referred to as

user-generated

When a large number of buyers seek to purchase a firm's products even when prices increase, Porter's force of customers can be said to have

weakened