Question 1

A benefit of in-store tracking to provide an enhanced shopping experience for the consumer is that companies do not have to be concerned about privacy issues.

Accepted Answer

In-store tracking raises concerns about privacy issues as it involves collecting data on consumer behavior and location through their smartphones or other tracking technologies. Companies need to ensure that they obtain the appropriate consent from consumers and protect their personal information. Failure to do so may result in legal repercussions and damage to the company's reputation.

Question 2

Exchanges may be public or private,depending on whether or not they are open to the public.

Accepted Answer

Exchanges can be either public or private. Public exchanges are open to the general public, while private exchanges are only accessible to a specific group of individuals, such as employees of a particular company or members of an organization.

Question 3

Exchanges are sites that are open to the public at all times and where many buyers and sellers conduct business transactions.

Accepted Answer

Exchanges have specific operating hours and may not be open to the public at all times. They are platforms where buyers and sellers conduct transactions, but access and operation times can be restricted.

Question 4

Sending special offers to customers who have opted in to receive discounts via SMS text message or advertising a brand on a popular mobile game app like Angry Birds is an example of mobile marketing.

Accepted Answer

This statement is true. Mobile marketing includes a wide range of activities designed to promote products or services through mobile devices, such as SMS text messages or mobile app advertisements. By sending special offers to customers who have opted in to receive discounts via SMS or promoting a brand on a popular mobile game app like Angry Birds, businesses can drive engagement and boost sales through mobile marketing efforts.

Question 5

The sell-side marketplace model is similar to the B2C model in which the buyer is expected to come to the seller's site,view catalogs,and place an order.

Accepted Answer

The sell-side marketplace model is a B2B model, where sellers list their products or services on a platform and buyers come to the platform to view catalogs and place orders. This is similar to the B2C model, where buyers visit an online store to view and purchase products, but the key difference is that the sell-side marketplace model is designed for businesses rather than individual consumers.

Question 6

When customers interact with a brand using their mobile devices,information is collected about customers that can be used to optimize the interactions.

Accepted Answer

Customers' interactions with a brand using their mobile devices generate data that can be used to better understand customer behavior and preferences, allowing brands to optimize future interactions and improve the customer experience.

Question 7

Retail sales via online channels,financial services,travel services,and digital products (e.g. ,music- and movie-streaming services)are widely popular forms of B2B commerce.

Accepted Answer

Retail sales via online channels, financial services, travel services, and digital products are actually examples of B2C (business-to-consumer) commerce rather than B2B (business-to-business) commerce. B2B commerce typically involves companies purchasing goods or services from other companies.

Question 8

The ultimate goal of retail strategy is to offer consumers multiple brand-based touchpoints that leverage the strengths of each channel.

Accepted Answer

The ultimate goal of retail strategy is to provide customers with various touchpoints through different channels that take advantage of the unique benefits of each brand.

Question 9

Using a coupon on your cell phone when checking out at the Hard Rock Café,or checking in to a retail location using Foursquare's mobile app is an example of mobile retailing.

Accepted Answer

This statement is true. Using mobile devices for retail purposes, such as redeeming coupons or checking in at a store, is known as mobile retailing.

Question 10

The buying or selling of goods and services using a wireless,handheld device such as a cell phone or tablet computer is called mobile commerce.

Accepted Answer

Mobile commerce, also known as m-commerce, refers to the purchase or sale of goods and services using a mobile device, such as a smartphone or tablet.

Question 11

The primary e-sourcing methods are online auctions,RFQ processing,and private exchanges.

Accepted Answer

This statement is true. The primary e-sourcing methods are online auctions, RFQ processing, and private exchanges.

Question 12

The most well-known B2B site is Amazon.com,whose IT developments received U.S.patents that keep it ahead of competition.

Accepted Answer

While Amazon.com is a popular B2B site, it is not the most well-known. Additionally, while Amazon has received many patents for its IT developments, it is not the only company that has done so, and having patents does not necessarily guarantee staying ahead of competition.

Question 13

Ordering a pair of shoes from Zappos.com using a mobile app or purchasing music from iTunes from your iPod is an example of mobile marketing.

Accepted Answer

The answer of Ordering a pair of shoes from Zappos.com...

Question 14

B2B comprises 35 percent of e-commerce dollar volume.

Accepted Answer

B2B e-commerce represents a much larger share of the market, accounting for over 70% of all e-commerce dollar volume.

Question 15

In vertical exchanges,prices change continuously like a stock exchange,based on the matching of supply and demand.

Accepted Answer

In vertical exchanges, prices change continuously based on the matching of supply and demand, similar to a stock exchange.

Question 16

Vertical exchanges serve one industry while horizontal exchanges serve many industries that use the same products or services.

Accepted Answer

Vertical exchanges focus on one specific industry or market, while horizontal exchanges serve multiple industries that use the same products or services.

Question 17

Online banking transaction costs are about 2 cents per transaction versus 6 cents per transaction at a physical branch.

Accepted Answer

The answer of Online banking transaction costs are about 2...

Question 18

E-sourcing refers to many different procurement methods that make use of an electronic venue for identifying,evaluating,selecting,negotiating and collaborating with suppliers.

Accepted Answer

E-sourcing is a procurement method that utilizes electronic means to perform procurement tasks such as identifying potential suppliers, evaluating their capabilities, negotiating terms with them, and collaborating on projects. This can be done through various tools and platforms such as e-auctions, e-RFX, and e-procurement systems.

Question 19

Corporate procurement,also called corporate purchasing,deals with the transactional elements of buying products and services by an organization for its operational and functional needs.

Accepted Answer

Corporate procurement involves the purchase of goods and services by an organization for its operational needs. It includes activities such as supplier selection, negotiation of terms and conditions, contract management, purchase order processing and payment processing.

Question 20

By using B2B,organizations can restructure their supply chains and partner relationships.

Accepted Answer

B2B (business-to-business) allows organizations to connect and collaborate with other businesses, which can lead to the restructuring and optimization of their supply chains and partnerships. This can result in increased efficiency, cost savings, and better overall performance for the organization.

Quiz 8: Retail, E-Commerce, and Mobile Commerce Technology