Ecommerce Final

The existence of substitute products is a key industry strategic factor.

True

Online retailing provides an example of the powerful role that intermediaries continue to play in retail trade.

True

Operating margin is defined as:

operating income(loss)/net sales revenues.

Describe Airbnb's business model and discuss the challenges that it faces.

Airbnb's business model is a peer to peer marketplace. Homeowners can rent out their property to those looking for a place to stay earning commission based revenue Primary challenges include differing restrictions on rental properties by area, quality control and trust among users and owners, and managing competition while upholding the brand standard.

What are some of the challenges faced by manufacturer-direct firms?

Challenges faced by manufacturer direct firms include

labor shortages

high operation cost

cyberthreats

supply chain disruptions

Which of the following is not one of the seven major segments of the retail industry?

electronics and computers

What are the 7 major segments of the retail industry

food and beverage, health and personal care, clothing and accessories, general merchandise, building materials and garden supplies, electronics and appliances, and nonstore retailers

Which of the following is not one of the methods used by traditional retailers to develop omnichannel integration?

online supply-push

Which of the following is an example of a robo-advisor?

Betterment

Which of the following threatens to slow e-commerce growth?

economic conditions, including rising inflation

All of the following are advantages of online retail except:

faster delivery of goods.

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

False

Within the major service industry groups, companies can be categorized generally into those that provide transaction brokering and those that involve which of the following?

providing hands-on services

Which of the following is not considered a current asset?

long-term investments

Which of the following is the most commonly used platform by social buyers?

Facebook

Which of the following job recruitment companies is not a job listing aggregator?

CareerBuilder

In 2022, time spent with digital media in the United States accounted for ________ of total media time spent.

62%

Which of the following is not a true statement about user-generated content?

A large percentage of creators are able to earn more than $5,000 a year from a social network creator fund.

Who was the first major fiction writer to create an e-book-only volume of a new work?

Stephen King

Which of the following is not an example of industry structure convergence?

Apples development of the iPad

Although estimates of e-book revenues vary, some analysts believe that e-book revenues currently represent around ________ of total book publishing revenues?

20%

In 2021, which of the following forms of entertainment produced the smallest percentage of revenue?

box office movies

Which of the following happened during the time period when newspapers used a print-centric business model?

Google launched its search engine

Vox is an example of the Digital First business model.

False

Which of the following statements about piracy in the movie and television industry is not true?

The most common method of piracy uses bit cyberlockers/file hosting sites.

Which of the following statements about the wholesale and agency models for selling books is not true?

A result of the agency model was that Amazon's prices on e-books declined.

Which of the following statements is not true about over-the-top (OTT) services?

To use OTT services, consumers must purchase a bundle of channels.

Which of the following U.S. media channels generates the most revenue?

broadcast television/pay TV

Which of the following statements about the music industry is not true?

More revenue was generated by the sales of digital downloads than physical units in 2021.

The video game industry accounts for the second highest percentage of U.S. media revenues.

True

Podcasting revenues are growing rapidly.

True

________ refers to the feeling of having been too cheap in bidding and failing to win an auction.

Losers lament

Algorithms are one of the most important technologies used by social networks.

True

Which of the following involves e-mailing another seller's bidders and offering the same product for less?

Bid siphoning

What business models do social networks primarily use?

Social networks primarily use an advertising-based model which sells user data to show the user targeted ads.

Which of the following is not a risk or cost of Internet auctions?

price transparency

Which of the following allows the consumer to enter a maximum price and the auction software automatically places incremental bids, up to that maximum price, as their original bid is surpassed?

proxy bidding

What percent of the world's total population users social networks?

45%

One partial solution to high monitoring costs is ________ pricing.

fixed

In 2022, around what percentage of Internet users uses social networks?

74%

Which age group has the fastest growing rate of Facebook usage?

adults over 65

The time spent watching and reviewing auction bids is a part of ________ costs.

monitoring

Keeping bid increments low decreases the number of bidders and lowers the frequency of their bids.

False

One of the first online virtual communities, formed in 1985, was:

The Well

The term ________ refer(s) to the advantages conferred as an auction site becomes larger in terms of visitors and products for sale.

network effects

Which of the following is not one of the defining functions of a portal?

auctions

An example of an indirect good in the fast-food industry is:

paper napkins

Walmart is using which of the following technologies in its Food Traceability Initiative?

blockchain

A circular economy is based on all of the following principles except the:

use of product-based supply chains.

Define the procurement process. What are the seven basic steps in the procurement process?

The procurement process is the management of a companies purchases of goods/services from end to end.

1. identifying needs

2. researching and selecting suppliers

3. negotiating contract

4. creating and approving purchase order

5. inspecting good or service

6. approving invoice and processing payment

7. final record/performance reviews

All of the following are major technology trends in B2B e-commerce in 2022-2023, except:

a decrease in the use of social network platforms.

B2B e-commerce websites:

tend to serve horizontal markets

Which of the following primarily deal with indirect goods?

e-distributors and e-procurement companies

What does the term supply chain visibility refer to and what benefits does it bring?

Supply Chain visibility refers to the ability to track products and its information throughout every step of the supply chain process. Benefits include improving efficiency, reducing risk, and improved inventory management.

MRO goods are also known as direct goods.

False

A(n) ________ system continuously links the activities of buying, making, and moving products from suppliers to purchasing firms, as well as integrating order entry systems.

SCM

Analysts predict that B2B e-commerce in the United States will grow to approximately ________ by 2024.

$8.5 trillion

Few large firms today have Electronic Data Interchange (EDI) systems.

False

Office supplies are an example of:

indirect goods

Supply chain ________ refers to differentiating a firm's products or prices on the basis of superior supply chain management.

competition

A private B2B network is an independently owned online marketplace that connects many suppliers and buyers.

False

Define and discuss the terms B2B commerce, B2B e-commerce, and supply chains in the context of the history and significance of B2B e-commerce.

B2B Commerce: transactions occurring between two businesses

B2B ecommerce: transactions occurring between two businesses made electronically through private networks. The rise of b2b ecommerce came in the 90's and 2000's during the .com boom.

Supply chains: Network of organizations and resources used to deliver a product to the end customer. Supply chains needed to become more integrated into businesses to ensure improved communication across all nodes in the supply chain and customer. B2b ecommerce significantly increased the need and specificity of a supply chain.