Question 1

What is the set of marketing tools that your organization will use to pursue its marketing objectives in reaching and attracting customers?

Accepted Answer

The Marketing Mix includes a set of tactics or tools (product, price, promotion, and place) that a company uses to promote and sell its products or services. Ad campaigns and marketing campaigns are specific activities that can be included in the overall marketing mix, while marketing strategies are broader plans for achieving marketing objectives.

Question 2

What type of materials is used to produce products or is sold directly in a retail environment?

Accepted Answer

Direct materials are materials that are used in the production of goods or that are sold directly to customers in a retail environment. Reverse materials refer to materials that are returned after being used or consumed, perishable materials refer to materials that have a limited shelf life and may spoil or decay, and converse materials are not a recognized term in this context.

Question 3

If you were on the Dell site purchasing a computer and Dell provided you a link to MacAfee site so that you can easily buy virus protection software,MacAfee would be considered a(n)_____ program.

Accepted Answer

An affiliate program is a marketing strategy where a company (in this case, Dell) promotes a product or service of another company (MacAfee) and earns a commission for each sale made through their promotional efforts. In this scenario, Dell is promoting MacAfee's virus protection software by providing a link to their site, and if a customer makes a purchase through that link, Dell will likely earn a commission from MacAfee.

Question 4

What is an affiliate program?

Accepted Answer

An affiliate program is an arrangement made between two e-commerce sites that directs viewers from one site to the other site. This is typically done through an affiliate link or code, and the referring site earns a commission on any resulting sales.

Question 5

Which of the following is a count of the number of people who visit one site,click on an ad,and are taken to the site of the advertiser?

Accepted Answer

Click-through is the count of the number of people who visit one site, click on an ad, and are taken to the site of the advertiser. Conversion rate is the percentage of visitors who take a desired action, such as making a purchase or filling out a form. Marketing hits and viral speed are not relevant to this definition.

Question 6

Which term describes the banding together of businesses to purchase materials and services with the goal of lowering purchase prices through discounts?

Accepted Answer

Demand aggregation is the term used to describe businesses coming together to purchase goods and services in large quantities, resulting in lower prices through discounts. This approach helps smaller businesses benefit from the purchasing power of larger businesses.

Question 7

What is the difference between a reverse auction and mass customization?

Accepted Answer

Mass customization,the ability of an organization to give its customers the opportunity to tailor its product or service to the customer's specifications,is used in the B2C e-commerce model.In the B2B model,a reverse auction is the process in which a buyer posts its interest in buying a certain quantity of items with notations concerning quality,specification,and delivery timing,and sellers compete for the business by submitting successively lower bids until there is only one seller left.

Question 8

What is the process in which a buyer posts its interest in buying a certain quantity of items with specified purchasing requirements and suppliers then compete for this business?

Accepted Answer

This process is known as a reverse auction, where the buyer initiates the process by posting their interest in purchasing a certain quantity of items with specific requirements. Suppliers then compete for this business by offering their best prices and are often able to see the prices offered by their competitors, leading to increased competition and potentially lower prices for the buyer.

Question 9

What is the term used to describe the small advertisements that appear on other Web sites?

Accepted Answer

The term used to describe small advertisements that appear on other Web sites is "online ads" or "banner ads." Pop-up or pop-through ads are a type of online ad that opens in a new window or tab, while AdWare refers to software that displays ads on the user's computer. E-Marketing ads are a general term for any type of advertising that is done online, including online ads but also including email marketing, social media advertising, and more.

Question 10

What is the percentage of potential customers who visit your site who actually buy something?

Accepted Answer

The percentage of potential customers who visit your site and actually buy something is known as the conversion rate. This can be calculated by dividing the number of visitors who make a purchase by the total number of visitors to the site, and multiplying by 100 to get a percentage.

Question 11

What is the difference between horizontal e-marketplaces and vertical e-marketplaces?

Accepted Answer

Vertical e-marketplaces, also known as industry-specific or industry-focused e-marketplaces, enable businesses in the same industry to trade goods and services with each other while horizontal e-marketplaces facilitate transactions across different industries or sectors.

Question 12

What is the market space called that allows for interactive e-commerce between multiple buyers and sellers?

Accepted Answer

An e-marketplace is a digital platform where multiple buyers and sellers can interact and conduct e-commerce activities. It provides a common platform for different businesses to connect with each other and trade goods and services. Other options such as virtual business and mass customization are specific strategies or concepts related to e-commerce, but not the market space where multiple buyers and sellers interact. I-markets is not a commonly used term in the e-commerce industry.

Question 13

The auto industry is currently creating customer Web sites that allow one to build and purchase their own unique car.This type of Web site creates what type of business opportunity?

Accepted Answer

The creation of customer Web sites that allow one to build and purchase their own unique car is an example of mass customization, which is a business opportunity that allows customers to personalize and customize their products or services to better suit their needs and preferences.

Question 14

Which of the following is an electronic marketplace that connects buyers and sellers in a given industry?

Accepted Answer

A vertical e-marketplace connects buyers and sellers within a specific industry, whereas horizontal e-marketplaces connect buyers and sellers across multiple industries. Indirect market and reverse auctions are not specific types of e-marketplaces.

Question 15

Which of the following is an electronic marketplace that connects buyers and sellers across many industries,primarily for MRO materials commerce?

Accepted Answer

Horizontal e-marketplaces connect buyers and sellers across many industries, such as Grainger, which primarily deals in MRO (maintenance, repair, and operations) materials commerce. B2C e-markets are focused on connecting businesses directly to consumers, while reverse auctions are a type of online bidding process. Direct markets are typically used to sell products directly to consumers or other businesses without the use of a third-party marketplace.

Question 16

What is the term used to describe a small Web page containing an advertisement that appears on your screen outside the current Web site loaded into your browser?

Accepted Answer

This is a description of a pop-up ad.

Question 17

What is the term used to describe an ad that appears after you close your current browser window?

Accepted Answer

A pop-under ad is an advertisement that opens up in a new browser window underneath the current window, so it becomes visible only when the user closes or minimizes the current window. This type of ad is considered intrusive as it appears when the user is leaving a website, but it can still capture attention and generate clicks. AdWare is a type of software that displays ads on a user's device without their consent or knowledge, while E-marketing ads and online/banners ads are displayed within the current browser window.

Question 18

What is the difference between a pop-up and pop-under ad?

Accepted Answer

A pop-up ad appears in front of the current browser window you are viewing, while a pop-under ad opens a new browser window under the current one, making it less immediately noticeable.

Question 19

Maintenance,repair,and operations (MRO)materials refer to which type of material?

Accepted Answer

MRO materials are indirect materials, meaning they are not directly used in the production of goods or services, but are necessary for the maintenance, repair, and operations of the equipment, machinery, and facilities used in production. This includes items like tools, spare parts, cleaning supplies, and safety equipment.

Question 20

What is viral marketing?

Accepted Answer

Viral marketing is a marketing strategy that encourages consumers to share information and recommendations about a product or service with their friends, family, and acquaintances, similar to how a virus spreads from person to person. The goal of viral marketing is to increase brand awareness and product demand through word-of-mouth advertising. This can be done through various channels, such as social media, email, and video sharing platforms.

Quiz 5: Electronic Commerce: Strategies for the New Economy