BUS 174: Ecommerce Final

virtual merchant

Blue Nile is an example of a: Answers: brick-and-clicks merchant. virtual merchant. catalog merchant. financial portal.

BizConsult.com

All of the following are early innovators that are no longer in business except: Kozmo. Webvan. Expedia. BizConsult.com.

high cost structures

All of the following are examples of the challenges that traditional manufacturers experience when using the Internet to sell directly to the consumer except: Answers: moving to a supply-push model. high cost structures. developing a fast-response online order and fulfillment system. channel conflict.

Fiserv

All of the following are top comparison shopping sites except: Answers: Nextag. Fiserv. PriceGrabber. Shopping.com.

pure online banks are displacing established multi-channel firms

All of the following are trends in the financial service industry except: Answers: industry consolidation. integrated financial services. pure online banks are displacing established multi-channel firms. growth of online personal banking.

Fossil.com

All of the following can be considered a competitor for Blue Nile except: Answers: Amazon. Bidz.com. Ice.com. Fossil.com.

financial services

All of the following services require extensive personalization except: Answers: financial services. legal services. medical services. accounting services.

new, "first-mover" middlemen, with expertise in e-commerce, would force traditional intermediaries out of business.

All of the following were parts of the vision during the early days of e-commerce except the belief that: Answers: new, "first-mover" middlemen, with expertise in e-commerce, would force traditional intermediaries out of business. Web consumers were rational and cost-driven. entry costs to the online retail market would be much less than those needed to establish a physical storefront. the cost of acquiring customers would be much lower.

2008-2009

During what period were online retail revenues basically flat? Answers: 2007-2008 2008-2009 2009-2010 2010-2011

70 percent

In 2012, approximately what percentage of Internet users over the age of 14 made a purchase at an online retail store? Answers: 30 percent 50 percent 70 percent 90 percent

$224 billion

In 2012, online retail sales revenues were approximately: Answers: $2.24 billion. $22.4 billion. $224 billion. $2.24 trillion.

$1,500

In 2012, the average annual amount spent online was: Answers: $500. $675. $1,200. $1,500.

6

Online retail comprises about ________ percent of the U.S. retail industry. Answers: 3 6 12 15

70

Personal consumption of retail goods and services accounts for about ________ percent of the total gross domestic product. Answers: 10 30 50 70

$11 trillion

Personal consumption of retail goods and services accounts for approximately ________ of the United States GDP. Answers: $11 billion $110 billion $1.1 trillion $11 trillion

false

T/F Consumers are primarily price-driven when shopping on the Internet.

false

T/F Contrary to predictions of analysts made during the early days of e-commerce, the Internet has led to both disintermediation and hypermediation on a widespread basis.

false

T/F Online retailing is one of the largest segments of the retail industry.

false

T/F The major impact of Internet real estate sites is in enabling online-only property transactions.

term life insurance

The Internet has resulted in lower search costs, increased price comparison, and lower prices to consumers for which insurance product line? Answers: term life insurance automobile insurance health insurance property and casualty insurance

online retail sales

The MOTO sector of the retail industry is most similar to the ________ sector. Answers: specialty stores general merchandise online retail sales product-based services

60

The top 25 retailers account for about ________ percent of all online retail. Answers: 90 60 45 20

airline reservations

What is the largest sector of the online travel services market in terms of revenue? Answers: hotel reservations car reservations cruise/tour reservations airline reservations

Much of the value in services is based on the collection, storage, and exchange of information

Which of the following best explains why the service sector is a natural avenue for e-commerce? Answers: The service sector is less geographically reliant and more globally oriented. The service sector has historically been more technology-reliant. Much of the value in services is based on the collection, storage, and exchange of information. It is not; services are difficult to translate to e-commerce because they rely on face-to-face communication and barter.

SimplyHired

Which of the following is a job site aggregator? Answers: SimplyHired Craigslist Monster CareerBuilder

an accountant

Which of the following is not an example of a transaction broker? Answers: a stockbroker a real estate agent an accountant an employment agency

lack of physical store presence

Which of the following is not one of the central challenges facing the online retail industry? Answers: lack of physical store presence consumer concerns about the privacy of personal information inconvenience in returning goods delivery delays

electronics and computers

Which of the following is not one of the seven major segments of the retail industry? Answers: electronics and computers consumer durables gasoline and fuel food and beverage

VirtualBank

Which of the following is one of the last pure online banks? Answers: ING Direct NetBank VirtualBank Wingspan Bank

Their strategy is similar to that of large banking institutions.

Which of the following statements about financial portals is not true? Answers: They do not offer financial services. They add to the online price competition in the finance industry. Their strategy is similar to that of large banking institutions. They make their money from advertising, referral fees, and subscription fees.

The Internet has dramatically changed the insurance industry's value chain

Which of the following statements about the online insurance industry is not true? Answers: The Internet has dramatically changed the insurance industry's value chain. Web sites of almost all the major firms provide the ability to obtain an online quote. Internet usage has led to a decline in term life insurance prices industry-wide. The industry has been very successful in attracting visitors searching for information.

The Internet and e-commerce have created significant disintermediation in the real estate marketplace

Which of the following statements about the online real estate services market is not true? Answers: The major impact of Internet real estate sites is in influencing offline decisions. Real estate differs from other types of online financial services because it is impossible to complete a property transaction online. The primary service offered by real estate sites is a listing of houses available. The Internet and e-commerce have created significant disintermediation in the real estate marketplace.

The MOTO sector is also called the general merchandise sector

Which of the following statements is not true? Answers: Compared to general merchandisers, the transition to e-commerce has been easier for MOTO firms. The MOTO sector is also called the general merchandise sector. MOTO was the last technological revolution that preceded e-commerce. Distribution of catalogs is one of MOTO retailers' biggest expenses.

Wells Fargo Online Banking

Which of the following was the top online bank by percentage of total Web bank visits in October 2012? Answers: Wells Fargo Online Banking Chase Online Banking Bank of America Online Banking Capital One Online Banking