Foundations of Business: Chapter 14: Exploring Social Media and e-Business: Assignment Questions

Enrique has quite an online media presence. Three times each week, Enrique publishes a vlog (a video blog or video log) on his YouTube channel entitled "Enrique's Escapades" that covers his trips to various state and national parks across the country. Currently, Enrique has more than 200,000 subscribers to his channel. Enrique is which of the following? -A hashtag -An influencer -A crowdsourcer -A wiki

An influencer

Kemi uses a business-to-consumer (B2C) business model in his online sporting goods business. Which of the following is not true regarding this type of business model? -B2C firms often attempt to build long-term relationships with their customers. -B2C firms will often make a special effort to make sure that the customer is satisfied and that problems, if any, are solved quickly. -B2C firms mainly conduct business with other businesses. -Most B2C firms have liberal return policies and often pay for returning merchandise that the customer does not like.

B2C firms mainly conduct business with other businesses.

Ricardo owns a furniture wholesale company. He uses the internet mainly to conduct business with other businesses. What type of business model does Ricardo have? -Business-to-consumer (B2C) model -Qualitative social media measurement -Business-to-business (B2B) model -Quantitative social media measurement

Business-to-business (B2B) model

Amazon.com, Inc. focuses on individual consumers; in doing so, it uses which of the following business models? -Business-to-business (B2B) model -Quantitative social media measurement -Business-to-consumer (B2C) model -Qualitative social media measurement

Business-to-consumer (B2C) model

As the person in charge of her company's social media presence, Chiku is considering creating a media sharing site. Before creating the site, Chiku should carefully consider all but which of the following factors? -How will the content be distributed to interested businesses and consumers? -How much will it cost to create and distribute the material? -Can the site be housed at a facility that is already owned or rented by the firm, and if not, how much will rent cost for the additional physical space? -Who will create the photos, videos, and podcasts that will be used?

Can the site be housed at a facility that is already owned or rented by the firm, and if not, how much will rent cost for the additional physical space?

Kylie Jenner is perhaps best known from the reality television show, Keeping Up with the Kardashians. She is also a social media influencer. Recently, it was revealed that Kylie can earn approximately $400,000 for a single Instagram post promoting a company's product or services, and that for long-term social media deals, she can sometimes earn millions of dollars. What type of business model does Kylie Jenner use as a social media influencer? -Advertising e-business -Brokerage e-business -Consumer-to-business -Consumer-to-consumer

Consumer-to-business

Gustavo loves to buy and refurbish old electronics items for personal use. He purchases stereo amplifiers, tuners, and speakers from individual sellers on Craigslist (www.craigslist.org), an online site incorporating peer-to-peer software that allows users to buy and sell all kinds of items. Which of the following business models does Craigslist use? -Advertising e-business -Brokerage e-business -Consumer-to-business -Consumer-to-consumer

Consumer-to-consumer

Suppose that General Mills, the producer of Wheaties cereal, decides to have a nationwide promotional event to honor health care "heroes" during the COVID-19 pandemic. As part of the program, family and friends are allowed to nominate a health care worker who has inspired them during the pandemic. General Mills will then allow a national sample of 10,000 adults to choose the winners online, and the winners will have their respective pictures portrayed on boxes of Wheaties (similar to what General Mills has done with sports heroes over the decades.) Which of the following involves outsourcing tasks to a group of people (in this case, 10,000 adults) to use the ideas of the crowd? -Media sharing -Crowdsourcing -Influencing -Data mining

Crowdsourcing

In her last class lecture, Susana's marketing professor emphasized the importance of using social media to successfully promote a business and its products, and Susana would like to learn more about the impact of social media on business. All but which of the following are correct regarding social media and business? -The fact that so many people are actively sharing personal information online was a driving force for many companies to develop a social media presence. -Currently, many large companies are using social media to promote their products, but most small businesses have yet to realize and/or utilize social media for that purpose. -If businesses are not using social media to see what customers are saying about their products or services, they are missing an opportunity to increase sales and profits. -With social media, customers provide feedback.

Currently, many large companies are using social media to promote their products, but most small businesses have yet to realize and/or utilize social media for that purpose.

In his online marketing class, Almar is learning about the potential for future internet growth. Which of the following is not true regarding the potential for future internet growth? -In terms of users, the potential for future internet growth in the United States is unlimited. -The number of Facebook users worldwide is expected to increase for years to come. -The number of internet users in the world's developing countries is expected to increase dramatically. -To date, only about 65 percent of the global population uses the internet.'

In terms of users, the potential for future internet growth in the United States is unlimited.

As the owner of a confectionary store, Jayla would like to increase her sales by having a greater online presence. All but which of the following are true regarding increasing sales revenue through use of the internet and technology? -Shifting revenues earned from customers inside a real store to revenues earned from these same customers online does not create any new revenue for a firm. -The goal of online selling is to find new customers that shop online and generate new sales so that total revenues are increased. -Internet firms such as Amazon generally refrain from linking other sellers of products to their internet sites, since doing so promotes the other sellers and thereby diminishes the competitive advantage of the promoters. -Intelligent information systems store information about each customer's purchases, along with a variety of other information about the buyer's preferences.

Internet firms such as Amazon generally refrain from linking other sellers of products to their internet sites, since doing so promotes the other sellers and thereby diminishes the competitive advantage of the promoters.

In her last lecture class, Tiana, an undergraduate marketing major, learned the importance of qualitative social media measurement in evaluating the effectiveness of a company's social media plan. Which of the following is not true regarding qualitative social media measurement? -The issue resolution rate is the percentage of customer service inquiries resolved satisfactorily using social media. -It is also known as quantitative social media measurement. -Sentiment analysis is a qualitative social media measurement that uses technology to detect the mood, attitudes, or emotions of people who experience a social media activity. -Resolution time is the amount of time taken to resolve customer service issues.

It is also known as quantitative social media measurement.

As the social media manager for her restaurant employer, Nevaeh has been asked to evaluate the cost-effectiveness of the restaurant's social media presence. Which of the following is true regarding the cost of maintaining a social media plan? -A company may use qualitative, but not quantitative, measurements to determine if it is getting a positive return on its investment in social media. -Social media is free. -It is important to measure the success of a social media plan and make adjustments and changes if needed. -A company may use quantitative, but not qualitative, measurements to determine if it is getting a positive return on its investment in social media.

It is important to measure the success of a social media plan and make adjustments and changes if needed.

As the "point person" for her company's social media presence, Shanice is in charge of developing and implementing the firm's social media plan. In proper sequence, from first to last, what are the steps she should follow to properly build a social media plan for the company? -Segment and target the social customer; establish social media objectives; select social media tools; implement and integrate the plan; listen to determine opportunities -Listen to determine opportunities; establish social media objectives; segment and target the social customer; select social media tools; implement and integrate the plan -Listen to determine opportunities; implement and integrate the plan; select social media tools; segment and target the social customer; establish social media objectives

Listen to determine opportunities; establish social media objectives; segment and target the social customer; select social media tools; implement and integrate the plan

Suppose Kimani, a project manager for an architectural firm, needs computer programmers to complete a certain project, and with the approval of executive management, she hires a firm in India to provide her company with those services. The firm in India will provide the services for 35 percent less than Kimani's company could perform the work; had the firm used "in-house" computer programmers, it would have had to pay their programmers "time-and-a-half" overtime pay. Which of the following refers to what Kimani has done? -Revenue streaming -Outsourcing -Cloud computing -Data mining

Outsourcing

James has purchased an old movie theater in downtown Billings, Montana. He plans to refurbish the theater and operate it himself, in large part to generate supplemental income for himself and his wife in their retirement. Which of the following is not true regarding social media reviews and ratings of businesses? -Sites for reviews and ratings are based on the idea that consumers trust the opinions of others when it comes to purchasing products and services. -Retailers, restaurants, medical services, repair services, and travel are types of businesses where ratings make a difference in consumer buying decisions. -Research conclusively demonstrates that social media reviews and ratings have no discernible impact on consumer purchase decisions when it comes to service providers like movie theaters. -According to consumers, the most important review factors are the overall star rating.

Research conclusively demonstrates that social media reviews and ratings have no discernible impact on consumer purchase decisions when it comes to service providers like movie theaters.

In her Introduction to Business class, Anaya is studying the various models for e-business. Which of the following is not one of those e-business models? -Brokerage e-business -Retailer to wholesaler -Advertising e-business -Subscription and pay-per-view

Retailer to wholesaler

As the owner of a pet grooming business, Graciela understands the importance of digital marketing to the success of her business. Areas of digital marketing include all but which of the following? -Search engine "fine-tuning" -Display advertising -Search engine optimization -Search engine marketing

Search engine "fine-tuning"

As the owner of a retail company that sells children's toys designed to stimulate cognitive development, Taye understands that e-business is crucial to the overall success of his business and that properly organizing the resources he commits to e-business is essential to the success of that component of his business. Which of the following is not true regarding organizing e-business resources? -The amount and types of resources committed to e-business are the same as the resources committed to traditional business. -Computer software programs that track the number of visitors who view a firm's website and customers who make online purchases are generally among the specialized informational resources required. -People who can design, create, and maintain websites are only a fraction of the specialized human resources required by e-businesses.

The amount and types of resources committed to e-business are the same as the resources committed to traditional business.

Ramia has been assigned the responsibility of managing social media for her employer, a garage door sales and service company. Which of the following is not true regarding social media? -It is about people. -Many popular social media sites were only created in the past 25 years. -The definition of social media has been firmly established. -It represents the online interactions that allow people and businesses to communicate and share ideas, personal information, and information about products and services.

The definition of social media has been firmly established.

As the social media manager for his hotel employer, Chikae likes to take quantitative measurements to determine the impact the company's social media presence has on the hotel. Which of the following is not a recognized, quantitative social media measurement? -The ratio of comments to the number of videos posted on YouTube -The number of advertisements on television -The number of likes on Facebook -The number of followers on Twitter

The number of advertisements on television

Lachlan works as web designer and media specialist for his university employer. Lachlan frequently collaborates on projects with his coworkers in an online working space that enables members to contribute content that can be shared with other people. This online working space facilitates completion of projects, fosters collaboration, and helps ensure accuracy of the work. In what type of social media community do Lachlan and his coworkers participate? -A blog -A forum -A wiki -A data mine

A wiki

Marlon has owned and operated an automobile repair shop for the past 25 years, and he is reluctant to use social media in his business. All but which of the following are advantages of social media that could be used to convince Marlon that he should incorporate social media in his business? -A business can use social media to connect with its stakeholders. -A business can use social media to provide another means of customer service. -A business can use social media to connect with its customers. -A business can use social media to immunize itself from legal liability.

A business can use social media to immunize itself from legal liability.

Aditi lives in a remote area, and she only recently gained internet access in her home. As a novice internet user, Aditi is unaware that whenever she visits a website, she may unknowingly receive a small piece of software code that can track where she goes on the internet and measure how long she stays at any particular website. What is this small piece of software code called? -A cookie -A wiki -Malware -A hashtag

A cookie

Last year, Huilang, who owns and operates a traditional clothing store with an e-business component, realized $78,435 in online sales revenue compared to $128,575 in sales revenue generated from her traditional store. The $78,435 represents which of the following to Huilang's business? -A qualitative social media measurement -A revenue stream -Crowdfunding -Crowdsourcing

A revenue stream