mis 10 dsm

Changes in the economics of information described earlier have created the conditions for entirely new business models to appear while destroying older business models. All, in one way or another, use the Internet (including apps on mobile devices) to add extra value to existing products and services or to provide the foundation for new products and services. Which of the following sells physical products directly to consumers or to individual businesses?

An e-tailer

There are many ways to classify electronic commerce transactions—one is by looking at the nature of the participants. The three major electronic commerce categories are business-to-consumer (B2C) e-commerce, business-to-business (B2B) e-commerce, and consumer-to-consumer (C2C) e-commerce. The ________ describes an e-commerce transaction that involving the sale of goods and services among businesses.

B2B

There are many ways to classify electronic commerce transactions—one is by looking at the nature of the participants. The three major electronic commerce categories are business-to-consumer (B2C) e-commerce, business-to-business (B2B) e-commerce, and consumer-to-consumer (C2C) e-commerce. Which of the following e-commerce classification involves retailing products and services to individual shoppers?

B2C

The Internet and e-commerce technologies are much richer and more powerful than previous technology revolutions. The total amount and quality of information available to all market participants has vastly increased. __________ refers to the ease with which consumers can find out the variety of prices in a market.

Price transparency

Imagine if every single person on Earth spoke the same language. The strikingly unusual feature of e-commerce technologies is that the technical standards of the Internet and, therefore, the technical standards for conducting e-commerce are universal standards. What is an effect of the universal technical standards of the Internet and e-commerce on customers?

Reducing search costs

Changes in the economics of information described earlier have created the conditions for entirely new business models to appear while destroying older business models. Amazon, with its Amazon Web Services (AWS), was one of the first companies to introduce a pay-as-you-go cloud computing that scales to provide users with computing, storage or throughput as needed. Which e-commerce business model best represents Amazon's Web Services in which companies pay for computing, storage or throughput as needed?

Service provider

Google Apps, Photobucket.com, and Dropbox all provide Web 2.0 applications such as photo sharing, video sharing, and user-generated content as services. Google Apps, Photobucket.com, and Dropbox are all examples of which e-commerce business model?

Service provider

A firm's revenue model describes how the firm will earn revenue, generate profits, and produce a superior return on investment. In the __________ revenue model, websites send visitors to other websites in return for a referral fee or percentage of the revenue from any resulting sales.

affiliate

The impact of the Internet on the market for digital goods is nothing short of revolutionary, and we see the results around us every day. Businesses dependent on physical products for sales—such as bookstores, music stores, book publishers, music labels, and film studios—face the possibility of declining sales and even destruction of their businesses. Goods that can be delivered over a digital network are called __________.

digital goods

One way of classifying electronic commerce transactions is in terms of the platforms participants use in a transaction. M-commerce involves the use of ________.

handheld wireless devices for purchasing goods and services from any location

Creating sites where thousands, even millions, of people can interact offers business firms new ways to market and advertise and to discover who likes (or hates) their products. Crowdsourcing is based on the assumption that ________.

large numbers of people can make better decisions about a wide range of topics or products than a single person or even a small committee of experts

The Internet and web technology enable businesses to create electronic storefronts for selling to other businesses using the same techniques as used for B2C commerce. A __________ is owned by the buyer, and permits the firm and designated suppliers, distributors, and other business partners to share product design and development, marketing, production scheduling, inventory management, and unstructured communication, including graphics and e-mail.

private industrial network

VW Group Supply is a network that links the Volkswagen Group and its suppliers. VW Group Supply handles 90 percent of all global purchasing for Volkswagen, including all automotive and parts components. VW Group Supply is an example of a(n) ________.

private industrial network

Websites collect data on visitor browser activity and store it in a database. They can collect specific pages visited on a particular site, the time spent on each page of the site, the types of pages visited, and what the visitors purchased. Firms then analyze this information about customer interests and behavior to develop precise profiles of existing and potential customers. Which of the following does the scenario illustrate?

Behavioral targeting

B2B e-commerce refers to the commercial transactions that occur among business firms. Increasingly, these transactions are flowing through a variety of Internet-enabled mechanisms. What is it called when transactions are automatically transmitted from one information system to another through a network, eliminating the printing and handling of paper at one end and the inputting of data at the other?

Electronic Data Exchange (EDI)

B2B e-commerce refers to the commercial transactions that occur among business firms. Increasingly, these transactions are flowing through a variety of Internet-enabled mechanisms. A(n) __________ enables the computer-to-computer exchange between two organizations of standard transactions such as invoices, bills of lading, shipments schedules, and purchase orders.

Electronic Data Interchange

When Skype first launched, its big selling point was its voice over internet protocol (VOIP) abilities. While it would go on to facilitate voice calls to landlines and mobile devices, its Skype to Skype voice calling function remains a key component of its service. Skype revenue model is an example of a "free plus paid services" model. In which of the following revenue models do firms offer basic services or content for free, while charging a fee for advanced or special features?

Free/freemium revenue model

The GPS capabilities of smartphones make geoadvertising, geosocial, and geoinformation services possible. Which of the following can tell you where your friends are meeting?

Geosocial service

A firm's revenue model describes how the firm will earn revenue, generate profits, and produce a superior return on investment. Which of the following best describes the affiliate revenue model?

In the affiliate revenue model, Web sites send visitors to other Web sites in return for a referral fee or percentage of the revenue from any resulting sales.

An example of a freemium business model is Skype, a company that allows you to make calls over the Internet. Their basic service is free, but for more advanced services you have to pay a premium. Which of the following best describes the free/freemium revenue model?

In the free/freemium revenue model, firms offer basic services or content for free, while charging a premium for advanced or special features.

Building a successful e-commerce presence requires a clear understanding of the business objectives to be achieved and selection of the right platforms, activities, and timeline to achieve those objectives. An e-commerce presence includes not only a corporate website but also a presence on Facebook, Twitter, and other social networking sites and smartphone apps. What is done in the planning phase for the development of an e-commerce presence for a start up company?

In this phase you would envision your Web presence and write a Web mission statement.

The Internet and the web vastly increase the total amount and quality of information available to all market participants, consumers, and merchants alike. This has greatly changed the relationships and negotiations of all participants. Which of the following is true of the effect of information density in e-commerce markets?

Information density increases price transparency for consumers.

The Internet provides marketers with new ways of identifying and communicating with millions of potential customers at costs far lower than traditional media, including search engine marketing, data mining, recommender systems, and targeted email. Which of the following refers to the ability of firms to profitably market goods to very small online audiences, largely because of the lower costs of reaching very small market segments?

Long tail marketing

Building a successful e-commerce presence requires a clear understanding of the business objectives to be achieved and selection of the right platforms, activities, and timeline to achieve those objectives. An e-commerce presence includes not only a corporate website but also a presence on Facebook, Twitter, and other social networking sites and smartphone apps. __________ is the first phase in a timeline to start up a new e-commerce presence.

Planning

Exchanges proliferated during the early years of e-commerce. Today, many exchanges provide vertical markets for a single industry, such as food, electronics, or industrial equipment, and they primarily deal with direct inputs. Why have many exchanges failed?

Suppliers were reluctant to participate because the exchanges drove prices down and did not offer any long-term relationships with buyers.

The impact of the Internet on the market for digital goods is nothing short of revolutionary, and we see the results around us every day. Businesses dependent on physical products for sales—such as bookstores, music stores, book publishers, music labels, and film studios—face the possibility of declining sales and even destruction of their businesses. Which of the following is true of digital goods?

The cost of producing the original first unit of a digital good is nearly the total cost of the product.

Changes in the economics of information described earlier have created the conditions for entirely new business models to appear while destroying older business models. All new models use the Internet (including apps on mobile devices) to add extra value to existing products and services or to provide the foundation for new products and services. Which of the following is not an e-tailer?

Twitter.com

In traditional commerce, a marketplace is a physical place, such as a retail store, that you visit to transact business. Now, the marketplace is extended beyond traditional boundaries and is removed from a temporal and geographic location. Which dimension of e-commerce technology describes the fact that the Internet is available at work, at home, and elsewhere via desktop and mobile services?

Ubiquity

In 2005, James Surowiecki wrote a book based on the thesis that a diverse collection of independently deciding individuals is likely to make certain types of decisions and predictions better than individuals or even experts. Which of the following statements best describes the phenomenon called "the wisdom of crowds"?

Wisdom of crowds" refers to the belief that large numbers of people can make better decisions about a wide range of topics or products than a single person or even a small committee of experts.

On-demand firms such as Uber and Airbnb are location-based services, and examples of mobile commerce. The foundation for ________ is the global positioning system (GPS).

location-based services

Imagine if every single person on Earth spoke the same language. The strikingly unusual feature of e-commerce technologies is that the technical standards of the Internet and, therefore, the technical standards for conducting e-commerce are universal standards. From the perspective of Porter's Five Forces model, universal technical standards increases the threat of new entrants because they ________.

lower market entry costs

Although e-commerce and the Internet have changed entire industries and enabled new business models, no industry has been more affected than marketing and marketing communications. Which of the following options best completes this sentence: Long tail marketing ________.

refers to the ability of firms to profitably market goods to very small online audiences, largely because of the lower costs of reaching very small market segments (people who fall into the long tail ends of a Bell curve)

E-commerce websites and advertising platforms have tools to track a shopper's every step through an online store and then across the web as shoppers move from site to site. All websites collect data on visitor browser activity and store it in a database. Firms analyze this information about customer interests and behavior to develop precise profiles of existing and potential customers. Which of the following best describes behavioral targeting?

Behavioral targeting refers to the tracking of the clickstreams (the history of clicking behavior) of individuals across multiple websites for the purpose of understanding their interests and intentions, and exposing them to advertisements that are uniquely suited to their interests.