Deck 2: E-Marketplaces: Mechanisms, tools, and Impacts of E-Commerce

Question 1

Front end refers to the activities that support online order fulfillment,inventory management,purchasing from suppliers,payment processing,packaging,and delivery.

Answer 1

False

Question 2

Electronic storefronts,Internet malls,and exchanges are major B2B e-marketplaces.

Answer 2

False

Question 3

Search engines not only "search and match," but also have capabilities that can be used to perform routine tasks that require intelligence.

Answer 3

False

Question 4

E-auctions are becoming less important selling and buying channels for companies and individuals.

Question 5

Eastern Mountain Sports used a successful multistep sales technique that included recommending special socks using the RSS feed.

Question 6

A portal is an information gateway that attempts to address information overload by enabling people to search and access relevant information from disparate IT systems and the Internet,using advanced search and indexing techniques,such as Google's desktop.

Question 7

Private,public,and consortia are three types of e-marketplaces.

Question 8

Reverse auctions are bidding or tendering systems in which the buyer places an item for bid on a request for quote (RFQ)system;then potential suppliers bid on the job,with the price reducing sequentially,and the lowest bid wins.

Question 9

Intermediaries play an important role in EC by providing value-added services such as making payment arrangements to buyers and sellers.

Question 10

Online negotiation can be facilitated by computer technology for the negotiation process and software agents for searches and comparisons.

Question 11

An auction is a market mechanism that uses a competitive process by which a seller solicits consecutive bids from buyers or a buyer solicits bids from sellers.

Question 12

E-procurement is the process of distributing materials and supplies.

Question 13

Shopping carts for B2B are fairly simple,but a shopping cart for B2C may be more complex.

Question 14

A limitation of e-bartering for businesses is that excess capacity items such as office space,storage,factory space,idle facilities,and labor cannot be bartered.

Question 15

E-marketplaces have resulted in lower purchasing and transactions costs

Question 16

Negotiation and bargaining are two types of auctions where prices are not fixed,but rather are allowed to fluctuate as market supply and demand change.

Question 17

An electronic shopping cart is an order-processing technology that allows customers to accumulate items they wish to buy while they continue to shop.

Question 18

The major limitations of e-auctions are insufficient security,risk of fraud,and a limited pool of participants.

Question 19

In marketing,an intermediary is a third party that operates between sellers and buyers.Intermediaries of all kinds offer their services on the Web.

Question 20

WebMD,which is the largest U.S.medical services company,is known mainly for its webmd.com consumer portal,but its core business is being an e-intermediary.

Question 21

Human or electronic intermediaries attempt to reduce each of the following limitations of direct interaction except:

A)search costs
B)lack of privacy
C)contract risk
D)product distribution

Question 22

Activities related to order fulfillment,inventory management,purchasing from suppliers,accounting and finance,packaging,and delivery are done in what is termed the ________ of the business.

A)front end
B)back end
C)infrastructure
D)intermediary

Question 23

Eastern Mountain Sports introduced ________ tools in order to increase collaboration,information sharing,and communication among stores and their employees,suppliers,and customers.

A)business intelligence
B)B2B
C)B2C
D)Web 2.0

Question 24

Because of their cost curve,digital products profits will:

A)remain constant regardless of volume,once the variable costs are paid.
B)decrease as volume increases,once labor costs are paid.
C)increase very rapidly as volume increases,once the fixed costs are paid.
D)increase rapidly as volume increases,once the fixed costs are paid.

Question 25

Traditional and electronic markets have three main functions,which include each of the following except:

A)matching buyers and sellers
B)facilitating the exchange,purchase or transfer of information,goods,services,and payments associated with transactions
C)financing the transformation of raw materials into finished products
D)providing an institutional infrastructure,such as a legal and regulatory framework that enables the efficient functioning of the market

Question 26

Travelers using airline Web sites to book their flights directly without the use of travel agents is resulting in the reintermediation of travel agents.

Question 27

E-catalogs have several common characteristics.Which of the following is not a characteristic of e-catalogs?

A)easy to create without advanced information technology
B)easy to update product information
C)easy to customize
D)good search and comparison capabilities

Question 28

The cost curves of digital products differ from the cost curves of physical products because in digitization:

A)most costs are variable and fixed costs are low.
B)most costs are fixed and variable costs are very low.
C)most costs are fixed,but variable costs are high.
D)all costs are variable.

Question 29

Customized catalogs are especially useful in B2B e-commerce for each of the following reasons except:

A)E-catalogs can be designed to show only the items that the employees in a specific organization are allowed to purchase.
B)Intranets,in particular,can deliver customized catalogs to different business customers.
C)E-catalogs can show the buyer's ID number for the item,model,or SKU number rather than the seller's ID numbers.
D)E-catalogs can be customized to show the same item to different customers at different prices,reflecting discounts or purchase-contract agreements.

Question 30

A type of broker that helps consumers compare different stores is a ________.

A)remediator
B)search engine
C)shopping facilitator
D)virtual mall

Question 31

The major ________ e-marketplaces are storefronts and Internet malls.

A)B2B
B)C2B
C)B2B2C
D)B2C

Question 32

The portion of an e-seller's business through which customers interact,including the seller's portal,electronic catalogs,shopping cart,and payment gateway,is referred to as the ________ of the business.

A)front end
B)back end
C)infrastructure
D)intermediary

Question 33

A new service known as Pownce integrates micro-blogging with file sharing and event invitations.

Question 34

E-marketplaces,shopping carts,e-catalogs,and auctions are the major Web 2.0 mechanisms.

Question 35

Employees may waste time trying to find relevant and accurate information if they have to access multiple information systems.The best solution to this problem is the use of ________.

A)Web portals
B)intermediaries
C)browsers
D)intranets

Question 36

An electronic storefront includes several mechanisms to help sales and sales transactions.The most common mechanisms include all of the following except:

A)electronic catalog
B)search engine
C)supply chain
D)payment gateway

Question 37

Twitter is a free micro-blogging service that allows its users to send tweets up to 140 characters in length.

Question 38

Features that distinguish a blog from a regular Web page are trackbacks,blogrolls,pings,and RSS feeds.

Question 39

Insurance companies and hotels sell services through storefronts called ________.

A)RSS
B)browsers
C)portals
D)wikis

Question 40

Online markets that are owned and operated by a single company and that are either sell-side or buy-side are known as ________.

A)private e-marketplaces
B)commercial portals
C)e-malls
D)B2B marketplaces

Question 41

In a(n)________ e-marketplace,a company purchases from many suppliers.This type of purchasing arrangement is considered to be many-to-one.

Question 42

The major challenge faced by ________ is the need to index documents from a variety of sources,such as file systems,intranets,document management systems,e-mail,and databases,and then present a consolidated list of relevance-ranked documents.

A)mobile portals
B)intelligent engines
C)enterprise searches
D)knowledge portals

Question 43

________ provides customers with exactly what they want,when and where they want it.Effective communication between the supply chain and the factory floor is needed to make it happen.

A)Build-to-order manufacturing
B)Demand-driven manufacturing
C)Real-time manufacturing
D)Virtual manufacturing

Question 44

________ are audio files that enable companies to deliver audio-specific content,including music,speeches,radio-style presentations,and more.

A)Blogs
B)Mashups
C)Podcasts
D)Wikis

Question 45

The most common and traditional form of auctions in which one seller entertains bids from many buyers is referred to as ________.

A)forward auctions
B)reverse auctions
C)bidding auction system
D)tendering system

Question 46

All of the activities related to order fulfillment,inventory management,payment processing,packaging,and delivery are done in what is called the ________ of the business.

Question 47

Commercial uses of blogs include all of the following except:

A)to allow everyone to participate as a peer
B)to communicate with customers and other third parties
C)to enhance employee communication with one another
D)to supplement corporate public relations and press releases with personal from the heart talk

Question 48

An online shopping center where many online stores are located is called a(n)________.

Question 49

Which is not one of the seven principles for building effective blogs?

A)Set up the blog so that each post gets its own permanent URL.
B)Blog frequently and create at least half a dozen posts every weekday.
C)Focus on a broad topic to appeal to a large audience.
D)Make friends with other bloggers,online and off.

Question 50

What is a benefit of e-auctions to the sellers?

A)anonymity
B)convenience of bidding anywhere and any time
C)lack of differentiation
D)optimal price determined by the market

Question 51

The elimination of various types of agents that mediate between buyers and sellers,such as travel and insurance agents,is referred to as ________.

A)automation
B)disintermediation
C)remediation
D)e-distribution

Question 52

Which is not a popular search engine?

A)Google
B)Linux
C)AltaVista
D)Lycos

Question 53

When prices are negotiated or discounted,as in auctions or stock markets,that pricing mode is called ________.

A)dynamic pricing
B)commodity pricing
C)pre-shopping
D)negotiation

Question 54

A(n)________ is a single point of access through a Web browser to critical business information located inside and outside of an organization.

Question 55

Which of the following statements does not describe bartering?

A)It is the oldest method of trade.
B)It is primarily done between private parties.
C)The problem with bartering is that it is difficult to find trading partners.
D)Intermediaries can be helpful,but they are expensive and very slow.

Question 56

Which of the following is a Web 2.0 application?

A)auctions
B)blogs
C)shopping carts
D)e-catalogs

Question 57

An auction in which there is one buyer and many potential sellers or in which a buyer places an item for bid on an RFQ system and the lowest bid wins is referred to as all of the following except:

A)forward auctions
B)reverse auctions
C)bidding auction system
D)tendering system

Question 58

All of the following are benefits of e-auctions to buyers except:

A)can liquidate large quantities quickly
B)convenience of bidding anywhere and any time
C)opportunity to bargain
D)opportunities to find unique items

Question 59

A(n)________ is a virtual marketplace in which sellers and buyers meet and conduct different types of transactions.

Question 60

A(n)________ is an order-processing technology that allows customers to accumulate items they wish to buy while they continue to shop

A)intelligent agent
B)e-fulfillment agent
C)electronic shopping cart
D)mobile portal

Question 61

Companies are using Second Life,which is an example of a(n)________,to bolster their physical businesses.

Question 62

________ refers to prices that are not fixed,but that are allowed to fluctuate as supply and demand in a market exchange.

Question 63

________ are animated computer representations of humanlike movements and behaviors in a
computer-generated 3-dimensional world.

Question 64

In a(n)________ catalog,information is presented in motion pictures or animation and information can be presented or changed in real-time,as with stock prices.

Question 65

Porter divided the impacts of the Internet into either positive or negative impacts for the industry.According to his model,most of the impacts are ________.

Question 66

One of the major changes in the supply chain of e-markets is to transfer some activities to customers and/or employees through ________.

Question 67

WebMD is the largest medical information services company in the United States.Although the company is known mainly for its consumer portal,webmd.com,its core business is being an electronic ________.

Question 68

The Internet economy has ________ barriers to entry.

Question 69

Priceline.com pioneered the ________ model.In this model,a potential buyer specifies the price that he or she is willing to pay to any seller who will sell at that price.

Question 70

Blogs and wikis are ________ applications.

Question 71

Trackbacks,pings,and RSS feeds are some of the features that distinguish ________ from regular Web pages.

Question 72

A(n)________ is a type of social network that allows everyone to participate as a peer enabling anyone to add,delete,or change content.

Question 73

________ is a free micro-blogging service that allows its users to send and read other users' short text messages,which are up to 140 characters in length.

Question 74

An auction in which a seller takes bids from buyers is called a(n)________ auction.

Question 75

________ tools are used to tailor a product,service,or Web content to specific user preferences.

Question 76

________ is a method that enables manufacturers to create specific products for each customer based on the customer's exact needs.

Question 77

________ have become more and more active in politics.

Question 78

The major challenge faced by enterprise search is the need to ________ documents from a
variety of sources,such as file systems,intranets,document management systems,and e-mail.

Question 79

________ are electronic intermediaries that provide and/or control information flow in cyberspace,often bundling information and then selling it to others.

Question 80

________ tools are social networking tools used by organizations.