OMIS350 Final

Michelle runs an Etsy shop. In one month, she spends $2,800 promoting her shop on Etsy and other social media sites, gaining 50 new customers. Customers purchase products that cost $100, and the cost of her buying materials is 50% of the selling price. What is the actual profit (or loss) per customer, taking into account materials and promotional costs?

-$6.00

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.

What is a key difference between business-to-government (B2G) transactions and other types of e-commerce?

B2G transactions involve prenegotiated contracts.

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.

Which statement best describes how managers use management information systems to develop SWOT analyses?

They use multiple management information systems to examine the key factors that influence the internal strengths and weaknesses of any business.

What is a downfall to just-in-time manufacturing and inventory management?

When supply chain disruptions occur, a lack of sufficient inventory on hand can lead to widespread shortages.

What is the relationship of blue ocean strategy to price leadership versus product differentiation?

With a blue ocean strategy, an organization focuses on both differentiation and price leadership.

Creating an entirely new market is an example of a ________ ocean strategy.

blue

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

As e-commerce continues to develop, many retailers are likely to maintain some type of "brick-and-mortar" store or physical location primarily because

consumers expect integrated shopping experiences that include face-to-face options.

Saraiya runs a small café. She would like to start placing small ad buys on social media and hires an analytics firm to determine which platforms she should advertise on. What type of cost would this be considered?

customer acquisition cost

Using technology to transform a market or to create an entirely new market is called creating a(n) ________ innovation.

disruptive

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

Over 50 percent of all innovative products fail in the market, while over 80 percent of the successors to the products succeed. This is a key tenet of ________ 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

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

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

increased

Coffee vendors who operate small, drive-up coffee stands find it difficult to charge significantly higher prices than their many competitors do. What aspect of the coffee stand business makes raising prices difficult?

its low barriers to entry.

With a product differentiation strategy, a company charges more for its product than its competitors charge for theirs because:

its product is unique in a way that justifies the higher price.

An online photo printing company can temporarily lose its e-commerce ubiquity if

its website crashes due to a coding error or attack by hackers.

Economies of scale means using

large production or purchasing power.

Under what type of system are employees encouraged to halt the manufacturing process in the event of a manufacturing error or safety risk?

lean manufacturing system

Manufacturing practices that emphasize developing efficient and smooth supply lines and minimizing excess inventory, delays, and waste are

lean techniques.

An international automobile manufacturer is concerned about how its global operations will be impacted by changing government standards for auto emissions and fuel efficiency. Which component of a PESTEL analysis can best help the manufacturer evaluate any threats posed by these policy changes?

legal

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

legal considerations

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

m-commerce

It is especially important for startup companies to create and follow a well-designed e-commerce strategy. Which of the following is the last phase in a well-designed strategy?

mobile platform planning and implementation

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

When conducting a SWOT analysis, an organization's human resource management system is used to evaluate the relative strength or weakness of its

personnel (workforce)

The organizations likely to benefit the most from the global reach of e-commerce are those that

previously depended on foot traffic into one physical store to sell their products.

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

Which PESTEL factor can managers monitor by improving communications throughout the organization and gaining better perceptions of consumers' opinions using CRM software?

sociocultural

Apple uses Corning's glass products for all its devices, such as the Gorilla Glass 6 used in the iPhone 11 series. To ensure that it continues to have a strong relationship with this glass industry leader, Apple has invested nearly $500 million toward Corning's advanced glass research division. By building up this relationship, Apple seeks to maintain some control over which of Porter's 5 forces?

suppliers

The e-commerce company with the highest revenue is based in which country?

the United States

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

E-commerce ________ is the ability of an organization to create a strong presence among consumers in many places, with minimal time constraints, to sell them products and services.

ubiquity