Question 1

________ technologies are technologies that enable the incremental improvement of products and services.

Accepted Answer

The answer of ________ technologies are technologies that enable the...

Question 2

A(n) ________ is a company that sells products and services that are very similar and in the same market segment.

Accepted Answer

The answer of A(n) ________ is a company that sells...

Question 3

A(n) ________ is the set of activities performed in an industry or in a firm that transforms raw inputs into final products and services.

Accepted Answer

The answer of A(n) ________ is the set of activities...

Question 4

A ________ is a networked business ecosystem that coordinates a firm's suppliers, distributors, and delivery firms with its own production needs using an Internet-based supply chain management system.
A) value chain
B) value system
C) value web
D) business strategy

Accepted Answer

A value web is a networked business ecosystem that coordinates a firm's suppliers, distributors, and delivery firms with its own production needs using an Internet-based supply chain management system. A value chain refers to the internal activities that create value for a firm, while a value system includes all the stakeholders involved in creating and delivering value to customers. Business strategy refers to the overall plan or approach a company takes to achieve its goals.

Question 5

In the ________ business model, a Web-based business builds a digital environment in which buyers and sellers can meet, display products, search for products, and establish prices.

Accepted Answer

The answer of In the ________ business model, a Web-based...

Question 6

A strategy designed to compete within a narrow market or product segment is called a ________ strategy.
A) scope
B) differentiation
C) cost
D) focus

Accepted Answer

A focus strategy is designed to target and compete within a narrow segment of the market. The company focuses on a specific product or market segment and tailors its marketing efforts and product offerings to meet the needs of that particular segment. This allows the company to establish a strong position within that segment and achieve a competitive advantage.

Question 7

All of the following are business models employed by the music industry except:
A) subscription.
B) peer-to-peer streaming.
C) download-and-own.
D) cloud streaming.

Accepted Answer

Peer-to-peer streaming is not a business model employed by the music industry as it involves the sharing of music files between users without any central authority or revenue generation mechanism. The other options, subscription, download-and-own, and cloud streaming are commonly used business models in the music industry to generate revenue from music consumption.

Question 8

A(n) ________ marketplace supplies products and services of interest to particular industries.

Accepted Answer

The answer of A(n) ________ marketplace supplies products and services...

Question 9

A(n) ________ is a set of planned activities designed to result in a profit in the marketplace.

Accepted Answer

The answer of A(n) ________ is a set of planned...

Question 10

An industry ________ is an effort to understand and describe the nature of competition in an industry, the nature of substitute products, the barriers to entry, and the relative strength of consumers and suppliers.

Accepted Answer

The answer of An industry ________ is an effort to...

Question 11

________ occurs when there are no differences among products or services and the only basis for choosing a particular product or service is price.

Accepted Answer

The answer of ________ occurs when there are no differences...

Question 12

If you wished to leverage the ubiquitous nature of the Web to differentiate your product, you would:
A) enable individual customization of the product by consumers.
B) implement a strategy of commoditization.
C) adopt a strategy of cost competition.
D) develop a scope strategy to compete within a narrower market segment.

Accepted Answer

Enabling individual customization of the product by consumers leverages the ubiquitous nature of the Web by allowing customers to interact with and personalize the product online. This can create a unique user experience and differentiate the product from competitors. Implementing a strategy of commoditization (B) or cost competition (C) may not be effective in leveraging the Web, as these strategies focus on lowering prices and may not take advantage of the Web's capabilities. Developing a scope strategy to compete within a narrower market segment (D) may be effective in some cases, but it does not necessarily leverage the Web's ubiquitous nature.

Question 13

The use by a company of its competitive advantage to achieve more advantage in surrounding markets is known as ________.

Accepted Answer

The answer of The use by a company of its...

Question 14

Innovative entrepreneurs and their business firms that destroy existing business models are referred to as ________.

Accepted Answer

The answer of Innovative entrepreneurs and their business firms that...

Question 15

Personal funds derived from savings, credit card advances, home equity loans, and loans from family and friends are examples of ________ that an entrepreneur may use to get a business off the ground.

Accepted Answer

The answer of Personal funds derived from savings, credit card...

Question 16

A wealthy individual who invests personal funds in a start-up in exchange for an equity stock in the business is referred to as a(n) ________.

Accepted Answer

The answer of A wealthy individual who invests personal funds...

Question 17

Which of the following is not a primary activity in a firm value chain?
A) outbound logistics
B) finance/accounting
C) operations
D) after-sales service

Accepted Answer

Finance/accounting is not a primary activity in a firm value chain. The primary activities in a firm's value chain are inbound logistics, operations, outbound logistics, marketing and sales, and after-sales service. Finance/accounting is considered a support activity in the value chain.

Question 18

New technologies that are at the core of a change in the way business is done are referred to as ________ technologies.

Accepted Answer

The answer of New technologies that are at the core...

Question 19

The financial services, travel services, and job placement services industries typically use the ________ business model.

Accepted Answer

The answer of The financial services, travel services, and job...

Question 20

A(n) ________ strategy is a strategy to compete in all markets around the globe rather than merely in local, regional, or national markets.

Accepted Answer

The answer of A(n) ________ strategy is a strategy to...

Quiz 2: E-Commerce Business Models and Concepts