Question 1

What is disintermediation?

Accepted Answer

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Question 2

Which of the following can be solved by systematically measuring the points where potential customers drop off without making a purchase,and then finding ways to keep more of them in the funnel until they buy and pay?

Accepted Answer

The issue described in the question is known as the "Leaky bucket issue" where potential customers drop off without making a purchase. This can be solved by systematically measuring the points where they drop off and finding ways to keep them in the funnel until they make a purchase. A, B, and C are unrelated to this issue.

Question 3

Marketers' concerns over the effectiveness and efficiency of their websites have led to the development of _____,software solutions that monitor and summarize website usage patterns.

Accepted Answer

The software solutions that monitor and summarize website usage patterns are known as web analytics. Option A (central remote server system) is incorrect as it refers to a type of system for managing computer resources. Option C (search engine optimization) is incorrect as it refers to the process of optimizing websites to improve their search engine rankings. Option D (cloud computing) is also incorrect as it refers to the delivery of computing services over the internet.

Question 4

Explain the six-stage consumer experience process.

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Question 5

Explain the first mover advantage and give examples of where first mover advantage has and has not been applied?

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Question 6

Track Change,a radio station,launched its online station in the countryside of Florida.However,this was of no use to the people who lived there as they lacked online access.This resulted in a severe loss of sales for the radio station.Which of the following questions should have been asked by Track Change before engaging itself in digitization?

Accepted Answer

C) is the correct choice because it directly addresses the issue of accessibility for the target market, which was the main problem faced by Track Change when they launched their online station in a region with limited online access.

Question 7

What is a positive network effect?

Accepted Answer

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Question 8

What are the seven potentially attractive elements that characterize many new economy technologies?

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Question 9

Describe some of the techniques used to personalize and customize market offerings.

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Question 10

Under _____,companies carefully consider which burdens they can remove from the customer,using new-economy technologies,and which customers can perform,assessing costs and benefits to both parties.

Accepted Answer

Coproduction involves companies considering which tasks can be shifted from the company to the customer, using new technologies, and assessing the costs and benefits for both parties. This helps to improve the overall customer experience and reduce the burden on the company. Positive feedback, causality loop, and first-mover advantage are not directly related to this concept.

Question 11

BRV Inc. ,a logistics services firm that functions across different countries,provides quick freight delivery services,parcels,and couriers to meet tight deadlines of its customers.They also meet the emergencies of customers by ensuring that the goods are delivered within 24 hours.The executives of the firm are discussing if the firm should invest in digital applications of their services.Which of the following will most support the firm's decision to implement online application?

Accepted Answer

The fact that most of the customers rate BRV Inc.'s services as time-critical and valuable implies that they would appreciate any effort by the company to make their services more accessible and convenient. An online application would enable quicker and more efficient service delivery, ultimately enhancing customer satisfaction. The other answer choices are not relevant to the decision to implement online applications.

Question 12

Which of the following supports the fact that younger companies without long histories of traditional advertising adopt new digital strategies much faster than larger and older firms?

Accepted Answer

Older firms have institutionalized cultures, which means they are often resistant to change and are more likely to stick with traditional advertising methods that have worked in the past. Younger companies, on the other hand, do not have a long history of traditional advertising and are more open to adopting new digital strategies.

Question 13

Explain the time-critical factor of information that would help a firm decide if it should digitize information.

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Question 14

The taste of hot chocolate,the fragrance of a perfume,the fit of a pair of gloves,and so on cannot be digitized.Which of the following reasons explains why they cannot be digitized?

Accepted Answer

Important informational attributes such as taste and fragrance cannot be easily converted into digital form, making it difficult to digitize them.

Question 15

Stairway,a rock band wanted to enter the online world of marketing in order to promote their music.However,the band members were worried that their songs would be imitated as barriers to entry on the web are low.In this context,which of the following questions should the band discuss?

Accepted Answer

The band's concern is related to protecting their music from being imitated, so they should discuss whether it is possible to digitize their music in a proprietary way, i.e. a way that ensures their music cannot be easily copied or stolen online. Choices A, B, and C are not directly related to the band's concern about protecting their music online.

Question 16

When an organization decides whether or not to employ a new digital application,it should discuss if it can be done in a proprietary way.This is done as:

Accepted Answer

Barriers to entry on the web are low, making it easy for competitors to imitate new digital applications.

Question 17

What are some of the ethical issues and threats that digital and social networking technologies present?

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Question 18

Why is syndication important? Discuss.

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Question 19

The senior executives of Blueberry Inc. ,a leading firm that published graphic novels,entered into online selling by launching their official website.It created graphic novels in downloadable formats.It also introduced credit card payment and other electronic modes of payment.These steps increased the sales of the organization.Which of the following questions would have most likely helped the executives of Blueberry Inc.?

Accepted Answer

The question that is most relevant to the scenario given would be asking if Blueberry Inc. can digitize the necessary flows in the consumer experience process. This is because Blueberry Inc. has launched its official website and introduced electronic modes of payment. Therefore, the executives would need to inquire about the feasibility and potential benefits of digitizing their consumer experience process. Options A, C, and D may also be important questions to consider, but they are not as directly related to Blueberry Inc.'s current situation as option B.

Question 20

What are the critical questions to ask in developing new-economy marketing strategies?

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Quiz 14: Marketing Strategies for a Digitally Networked World