Deck 11: Social Networks, Auctions, and Portals

Question 1

On which of the following do users spent the least amount of time per day?

A) Snapchat
B) Tumblr
C) LinkedIn
D) Pinterest

Answer 1

C

Question 2

A website designed around a community of members who self-identify with a demographic or geographic category is classified as a(n):

A) interest-based social network.
B) affinity community.
C) practice network.
D) sponsored community.

Answer 2

B

Question 3

Which of the following is a community of members who self-identify with a demographic or geographic category?

A) practice network
B) sponsored community
C) affinity community
D) interest-based social network

Answer 3

C

Question 4

Each of the following is one of the top seven social network sites in the United States,in terms of monthly unique visitors,except:

A) Tumblr.
B) Myspace.
C) Instagram.
D) Pinterest.

Question 5

The technology used by early online communities was limited to mostly:

A) instant messaging.
B) FTP.
C) e-mail.
D) bulletin boards.

Question 6

Instagram is an example of a(n):

A) interest-based social network.
B) affinity community/social network.
C) general community/social network.
D) practice network.

Question 7

One of the first online virtual communities was:

A) The Well.
B) Myspace.
C) AOL.
D) Salon.com.

Question 8

Which of the following is the second leading social network in the United States in terms of monthly unique visitors?

A) Twitter
B) LinkedIn
C) Instagram
D) Pinterest

Question 9

Which of the following is an example of a practice network?

A) PredictWallstreet
B) Instagram
C) DebatePolitics
D) Doximity

Question 10

In 2018,which age group had the fastest growing rate of Facebook usage?

A) 12-34
B) 35-45
C) 46-65
D) adults over 65

Question 11

Which of the following has the highest penetration of social network usage among the general population?

A) North America
B) Latin America
C) Europe
D) Asia-Pacific

Question 12

When did the first online communities form?

A) the 1970s
B) the 1980s
C) the 1990s
D) the 2000s

Question 13

Which of the following is a leading social network in Germany?

A) Xing
B) Tuenti
C) Orkut
D) Mixi

Question 14

Which of the following early leaders in social networking has been reinvented as a music-oriented social network?

A) Vevo
B) Myspace
C) Polyvore
D) Tumblr

Question 15

Facebook owns which of the following?

A) Pinterest
B) Snapchat
C) WhatsApp
D) Tumblr

Question 16

Which social network functionality allows users to view a list of updates from friends as well as advertisements and notifications in chronological order?

A) message board
B) timeline
C) friends' network
D) newsfeed

Question 17

In 2018,around what percentage of the total United States population used social networks?

A) 50%
B) 60%
C) 70%
D) 80%

Question 18

In 2017,Fortune 500 companies used ________ more than Facebook.

A) Twitter
B) Tumblr
C) LinkedIn
D) Pinterest

Question 19

BlackPlanet is an example of a(n)________ social network.

A) practice-based
B) interest-based
C) affinity-based
D) general

Question 20

PredictWallStreet is an example of a(n):

A) interest-based social network.
B) affinity community.
C) sponsored community.
D) practice network.

Question 21

More than two-thirds of Internet users worldwide participate in social networks.

Question 22

The amount of time visitors spend on a site is a measure of:

A) reach.
B) loyalty.
C) conversation.
D) engagement.

Question 23

Which of the following companies purchased Instagram?

A) Google
B) Apple
C) Facebook
D) Microsoft

Question 24

If a large number of Internet users set Facebook as their primary destination on their web browser,should Facebook be considered a portal?

Question 25

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

A) delayed consumption costs
B) equipment costs
C) price transparency
D) trust risks

Question 26

The fact that participating in an Internet auction means that you will need to purchase a computer,learn to use it,and pay for Internet access,is an example of ________ costs.

A) equipment
B) fulfillment
C) delayed consumption
D) monitoring

Question 27

Which of the following statements about Instagram is not true?

A) Instagram trails only Facebook in U.S. ad revenue.
B) Instagram is a social network that focuses on video and photo sharing.
C) Instagram is growing more quickly than Facebook.
D) Instagram users spend more time on Instagram than Facebook users spend on Facebook.

Question 28

Facebook is the fastest growing of the most popular social networks.

Question 29

Which of the following now owns LinkedIn?

A) Facebook
B) Google
C) Microsoft
D) Verizon

Question 30

Describe four shared characteristics of social networks.

Question 31

Describe the evolution of social networks from their earliest appearance.

Question 32

All of the following are solutions to the problem of high monitoring costs except:

A) seller rating systems.
B) watch lists.
C) proxy bidding.
D) fixed pricing.

Question 33

What business models do social networks use?

Question 34

Discuss the impact social networks have had on how businesses operate,communicate,and serve their customers.

Question 35

Howard Rheingold,one of The Well's early participants,coined the term ________ to refer to "cultural aggregations that emerge when enough people bump into each other often enough in cyberspace."

A) social networks
B) virtual communities
C) community portals
D) social forums

Question 36

All of the following are benefits of auctions except:

A) more efficient price discovery.
B) lower transaction costs.
C) decreased price transparency.
D) increased market efficiency.

Question 37

________ is the market leader in C2C auctions.

A) Amazon
B) eBay
C) uBid
D) eBid

Question 38

A(n)________ offers members focused discussion groups,help,information,and knowledge related to an area of shared interest.

A) practice network
B) general community
C) affinity community
D) interest-based social network

Question 39

A community site created by a corporation is called a sponsored community site.

Question 40

________ of procurement officers use auctions to purchase goods.

A) Approximately 80%
B) Less than a quarter
C) Over one third
D) Approximately 25%

Question 41

All of the following types of auctions involve single units except:

A) an English auction.
B) a Dutch Internet auction.
C) a Name Your Own Price auction.
D) a penny auction.

Question 42

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

A) Winner's lament
B) Winner's regret
C) Loser's lament
D) Loser's regret

Question 43

A(n)________,in which the highest bidder wins,is the most common form of auction.

A) Dutch Internet auction
B) Japanese auction
C) English auction
D) reverse auction

Question 44

Threatening negative feedback in return for a benefit is an example of:

A) feedback extortion.
B) offensive shill feedback.
C) defensive shill feedback.
D) sending spam.

Question 45

Which of the following types of auctions is perfect for sellers that have many identical items to sell?

A) English auctions
B) Name Your Own Price auctions
C) Dutch Internet auctions
D) group buying auctions

Question 46

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

A) transaction interception
B) bid siphoning
C) shill bidding
D) persistent bidding

Question 47

The profit a seller makes at auction is a function of all of the following except:

A) initial pricing.
B) auction length.
C) the number of units for auction.
D) watch lists.

Question 48

Which of the following involves the feeling after winning an auction that you paid too much for an item?

A) herd behavior
B) winner's regret
C) seller's lament
D) loser's lament

Question 49

________ refers to the use of secondary user IDs or bidders who have no actual intention to buy to artificially raise the price of an item.

A) Bid manipulation
B) Shill feedback
C) Shill bidding
D) Bid rigging

Question 50

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

A) pricing
B) monitoring
C) delayed consumption
D) fulfillment

Question 51

________ is the tendency to gravitate toward,and bid for,auction listings with one or more existing bids.

A) Group buying
B) Winner's regret
C) Herd behavior
D) Bid rigging

Question 52

E-mailing buyers to warn them away from a seller is a type of auction fraud known as:

A) transaction interference.
B) bid siphoning.
C) bid rigging.
D) shill bidding.

Question 53

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

A) siphoning
B) herd behavior
C) network effects
D) channel expansion

Question 54

Which of the following types of auctions "shields the brand" of the seller?

A) English auction
B) Name Your Own Price auction
C) Dutch auction
D) penny auction

Question 55

A ________ permits the consumer to monitor specific auctions of interest,requiring the consumer to pay close attention only in the last few minutes of bidding.

A) bidding fee auction
B) channel manager
C) watch list
D) rating system

Question 56

Priceline is an example of a(n):

A) English auction.
B) Dutch auction.
C) penny auction.
D) Name Your Own Price auction.

Question 57

________ occurs when sellers agree informally or formally to set floor prices below which they will not sell on auction items.

A) Discriminatory pricing
B) Price matching
C) Bid rigging
D) Distress pricing

Question 58

One partial solution to high monitoring costs is ________ pricing.

A) fixed
B) dynamic
C) allocated
D) distress

Question 59

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?

A) watch lists
B) proxy bidding
C) sealed bidding
D) price matching

Question 60

Which of the following is not one of the top factors a business should consider when planning an Internet auction?

A) type of product
B) type of auction
C) location of auction
D) bid increments

Question 61

Describe the four major Internet auction types discussed in the chapter and how they function.

Question 62

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

Question 63

In a Dutch Internet auction,a single seller puts up multiple items for bidding.

Question 64

Which of the following statements best describes the potential impact of network effects with respect to portals?

A) Specialized vertical market portals attract only a small percentage of the audience, while a few large megaportals garner most of the market.
B) The value of the portal to advertisers and consumers increases geometrically as reach increases.
C) The greater the amount of content provided by a portal, the greater its value to the community.
D) The greater number of portals available, the greater the potential audience for each.

Question 65

Consumers in auctions are driven solely by value maximization.

Question 66

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

A) commerce
B) content
C) auctions
D) navigation of the Web

Question 67

Priceline's auctions utilize fixed pricing.

Question 68

In B2C auctions,consumers control assets and use dynamic pricing to establish the price.

Question 69

What are the costs and risks for buyers at an auction,and how have auction sites sought to reduce these risks?

Question 70

What are the benefits of Internet auctions to sellers,buyers,and market makers in an auction?

Question 71

To address the falling price of display ads and declining user engagement,Yahoo acquired all of the following except:

A) Tumblr.
B) Flickr.
C) Aviate.
D) Instagram.

Question 72

Which of the following is not one of the typical portal revenue sources?

A) commissions on sales
B) subscription fees
C) tenancy deals
D) referral fees

Question 73

After Google,the next portal/search engine site with the most unique visitors is:

A) Yahoo.
B) Microsoft.
C) AOL.
D) Facebook.

Question 74

Auction prices are often higher than prices in fixed priced markets.

Question 75

Facebook was the leader in U.S.ad spending revenues on social networks in 2018.What company earned the second most amount of ad spending revenue?

A) Snapchat
B) Instagram
C) Pinterest
D) Twitter

Question 76

Closed bidding offers the advantage of herd effects.

Question 77

WebMD.com is an example of a:

A) general purpose portal.
B) vertical market portal based on affinity group.
C) vertical market portal based on focused content.
D) focused content portal.

Question 78

Which of the following purchased Yahoo?

A) AT&T
B) Microsoft
C) AOL
D) Verizon

Question 79

Identify and describe the main types of portals.

Question 80

Penny auctions don't require money to bid.