Question 1

Seven Cycles uses _________ to create customer value,build relationships,and produce customer experiences in novel ways.
A) the Internet
B) just-in-time delivery
C) marketing dashboards
D) logistics management
E) customer relationship management

Accepted Answer

A

Question 2

Marks & Spencer is a well-known British department store located in the U.K.Customers from Chicago or Dallas can shop for clothing as easily as a person living in London.This shows how electronic commerce contributes to customer value through the creation of
A) service utility.
B) place utility.
C) possession utility.
D) form utility.
E) possession and place utility.

Accepted Answer

The ability of customers from Chicago or Dallas to shop at Marks & Spencer in the UK demonstrates how electronic commerce creates place utility by giving customers access to products and services regardless of their physical location.

Question 3

Seven Cycles' business model includes the Internet,which enables customers to collaborate on the bike design using the company's __________ fitting system that considers the rider's size,aspirations,and riding habits.
A) Rider Kit
B) Cyclo Kit
C) Custom Kit
D) Proviso Kit
E) Seven Fit

Accepted Answer

C

Question 4

greatest marketspace opportunity for marketers lies in its potential for creating __________.
A) form utility
B) time utility
C) price utility
D) possession utility
E) place utility

Accepted Answer

The answer of greatest marketspace opportunity for marketers lies in...

Question 5

Consumers and companies populate two market environments today: one is the traditional __________ and the other is the __________.
A) extranet; intranet
B) superstore; hypermarket
C) marketplace; marketspace
D) shopping mall; virtual mall
E) online store; virtual store

Accepted Answer

The terms "marketplace" and "marketspace" are commonly used in the context of e-commerce to refer to the traditional physical marketplace and the virtual marketplace, respectively. The other answer choices may be related to e-commerce, but they do not accurately reflect the two distinct market environments mentioned in the question.

Question 6

Internet-enabled digital environment characterized by face-to-screen exchange relationships and electronic images and offerings is referred to as a(n)__________.
A) extranet
B) intranet
C) marketplace
D) marketspace
E) web portal

Accepted Answer

The term "marketspace" specifically refers to the internet-enabled digital environment characterized by face-to-screen exchange relationships and electronic images and offerings. Extranet and intranet refer to restricted networks used by businesses, while a marketplace can refer to any location where goods and services are exchanged (online or offline). A web portal is a website that provides a variety of resources and services, but does not necessarily involve face-to-screen exchange relationships or electronic offerings.

Question 7

growth trend in online shoppers and online retail sales
A) remained stagnant until 2007 when online security measures improved.
B) grew rapidly during 2003-2005 and then declined sharply when the "dot.com bubble" burst in 2006.
C) has shown growth in both online shoppers and online retail sales year after year, and is expected to continue in that direction for at least the next few years.
D) grew slowly for the first three years, spiked dramatically in 2008-2009, but is expected to slow just as dramatically due to a downturn in the economy and the implementation of new online state sales tax collection laws.
E) grew slowly for the first three years, but has steadily declined since 2007, and is expected to continue to decline for the foreseeable future.

Accepted Answer

The passage states that there has been growth in both online shoppers and online retail sales year after year, and this trend is expected to continue for the next few years.

Question 8

Which of the following transactions occurred in the marketspace?
A) Connie purchased creative puzzles at an in-home demonstration by Discovery Toys.
B) Joan bought a brand new pair of Dansko shoes through Zappos.com.
C) Shelby purchased an iPhone case at a kiosk at the airport.
D) Corey bought a double-dipped chocolate ice cream cone from a mobile ice cream truck.
E) Josh bought his mother a menorah through the Source for Everything Jewish gift catalog by calling a toll-free hotline.

Accepted Answer

Joan's purchase of Dansko shoes through Zappos.com occurred in the marketspace, as it was an online transaction.

Note: A, C, D, and E describe transactions that occurred in physical spaces (in-home demonstration, kiosk, mobile truck, and catalog with toll-free hotline).

Question 9

greatest marketspace opportunity for Seven Cycles lies in its potential for creating _________.
A) form utility
B) time utility
C) price utility
D) place utility
E) possession utility

Accepted Answer

Seven Cycles specializes in custom-made bicycles that are tailored to the individual needs and preferences of customers. This level of customization creates form utility, which is the value added to a product or service by modifying its shape or design to better meet the needs of customers. By focusing on form utility, Seven Cycles can differentiate itself from competitors and appeal to customers who prioritize a personalized product.

Question 10

the traditional sense,a _________ is where buyers and sellers engage in face-to-face exchange relationships in a material environment characterized by physical facilities and mostly tangible objects.
A) marketspace
B) power center
C) shopping mall
D) stationary store
E) marketplace

Accepted Answer

A marketplace is a physical location where buyers and sellers meet to engage in transactions involving tangible goods.

Question 11

percentage of online shoppers
A) didn't begin to show promise until 2007 when online security measures improved.
B) stabilized in 2009 when Internet penetration reached 98 percent of all U.S. households.
C) grew rapidly during 2003-2005 and then declined sharply when the "dot.com bubble" burst in 2006.
D) has grown year after year and is expected to continue to increase over the next few years.
E) grew slowly for the first three years, spiked dramatically in 2008-2009, but is expected to slow just as dramatically due to a downturn in the economy and the implementation of new online-sales tax-collection laws.

Accepted Answer

The passage states that the percentage of online shoppers has "grown year after year and is expected to continue to increase over the next few years."

Question 12

Seven Cycles creates __________ in the making of customized bikes for its customers in 40 countries.
A) time utility
B) form utility
C) place utility
D) possession utility
E) possession and place utility

Accepted Answer

Seven Cycles creates form utility in the making of customized bikes for its customers. Form utility refers to the value that is created by transforming raw materials into finished products that meet customers' specifications. In this case, Seven Cycles is taking raw materials and creating custom bikes to meet the specific needs and wants of each customer, thus creating form utility. Time utility refers to the value created by making products available when they are needed, place utility refers to the value created by having products available where they are needed, and possession utility refers to the value created by transferring ownership of products to customers. While Seven Cycles may create some of these other forms of utility in the process of delivering their customized bikes, form utility is the primary value they create.

Question 13

key difference between the traditional marketplace and the new marketspace is that the latter is a(n)__________ environment.
A) tangible
B) analog
C) physical
D) material
E) digital

Accepted Answer

The key difference between the traditional marketplace and the new marketspace is that the latter is a digital environment. The traditional marketplace is a physical location where buyers and sellers interact, whereas the new marketspace is a virtual platform where buyers and sellers can connect electronically. It is characterized by features such as e-commerce, mobile commerce, social media, and other online transactions that make it digital.

Question 14

Amazon.com is an Internet retailer located in the U.S.About 45 percent of its sales are to customers who live outside the United States.This shows how electronic commerce contributes to customer value through the creation of __________.
A) service utility
B) place utility
C) possession utility
D) form utility
E) time and possession utility

Accepted Answer

Amazon.com creates place utility by providing customers with access to products regardless of their physical location through electronic commerce.

Question 15

Customers can build their own bicycle at SevenCycles.com by answering a few questions and choosing from a menu of product attributes,prices,and delivery options.The design of a precise bicycle is made possible through the use of a _________.
A) seller menu
B) seller cookie
C) content screen
D) choiceboard
E) collaborative filter

Accepted Answer

The precise design of a bicycle is made possible through the use of a choiceboard, which allows customers to select from a menu of product attributes and prices.

Question 16

About __________ of Internet users ages 15 and older shop online in the United States.
A) 19%
B) 29%
C) 48%
D) 67%
E) 90%

Accepted Answer

The answer of About __________ of Internet users ages 15...

Question 17

Which of the following characteristics of electronic commerce creates customer value by contributing to place and time utility?
A) Electronic commerce makes products and services available to customers faster.
B) Comparison shopping is easier in the marketspace than in the marketplace.
C) Customers anywhere can shop in the marketspace at any time.
D) Products available in the marketspace are more easily customized.
E) Consumers can tell marketers exactly what they want in the marketspace.

Accepted Answer

Electronic commerce provides place and time utility by enabling customers to shop from anywhere at any time through the marketspace. Option A is also correct but it does not address the contribution to place utility. Option B refers to the ease of comparison shopping but does not specifically contribute to place or time utility. Option D refers to customization, which may contribute to value for the customer but does not specifically address place or time utility. Option E refers to customer input in the marketspace, which may also contribute to value for the customer but does not address place or time utility.

Question 18

Seven Cycles has a __________ with its 233 authorized dealers and distributors.
A) contentious relationship
B) life reciprocity agreement
C) joint partnership
D) franchise contract
E) collaborative relationship

Accepted Answer

The word "collaborative" suggests that Seven Cycles has a cooperative and mutually beneficial relationship with its authorized dealers and distributors. This implies that both parties work together towards common goals. The other options such as contentious relationship, franchise contract, and joint partnership suggest a more formal or hierarchical relationship, whereas the option B (life reciprocity agreement) does not make sense in this context.

Question 19

Seven Cycles' motto,"One Bike.Yours." reflects the company's
A) reputation for customized detailing of the finest motorcycles in competitive racing.
B) commitment to incorporating individual customer input for every single bike.
C) lifetime warranty for each and every bike it makes.
D) promise that customers can always find the bike they want from the company's catalog of stock designs.
E) promise to restore any bicycle, regardless of age or condition.

Accepted Answer

The motto "One Bike. Yours." emphasizes Seven Cycles' dedication to creating personalized bikes for each individual customer by incorporating their input and preferences into the design process.

Question 20

Internet users ages 15 and older are expected to buy _________ worth of products and services online in 2015 (excluding travel,automobiles,and prescription medications).
A) $829 million
B) $997 million
C) $39 billion
D) $232 billion
E) $270 billion

Accepted Answer

According to the question, we need to exclude travel, automobiles, and prescription medications. Therefore, the estimate refers to retail e-commerce sales. The option that best matches this is E), $270 billion.

Quiz 21: Implementing Interactive and Multi-Channel Marketing

Seven Cycles uses _________ to create customer value,build relationships,and produce customer experiences in novel ways.

Marks & Spencer is a well-known British department store located in the U.K.Customers from Chicago or Dallas can shop for clothing as easily as a person living in London.This shows how electronic commerce contributes to customer value through the creation of

Seven Cycles' business model includes the Internet,which enables customers to collaborate on the bike design using the company's __________ fitting system that considers the rider's size,aspirations,and riding habits.

greatest marketspace opportunity for marketers lies in its potential for creating __________.

Consumers and companies populate two market environments today: one is the traditional and the other is the .

Internet-enabled digital environment characterized by face-to-screen exchange relationships and electronic images and offerings is referred to as a(n) __________.

growth trend in online shoppers and online retail sales

Which of the following transactions occurred in the marketspace?

greatest marketspace opportunity for Seven Cycles lies in its potential for creating _________.

the traditional sense,a _________ is where buyers and sellers engage in face-to-face exchange relationships in a material environment characterized by physical facilities and mostly tangible objects.

percentage of online shoppers

Seven Cycles creates __________ in the making of customized bikes for its customers in 40 countries.

key difference between the traditional marketplace and the new marketspace is that the latter is a(n) __________ environment.

Amazon.com is an Internet retailer located in the U.S.About 45 percent of its sales are to customers who live outside the United States.This shows how electronic commerce contributes to customer value through the creation of __________.

Customers can build their own bicycle at SevenCycles.com by answering a few questions and choosing from a menu of product attributes,prices,and delivery options.The design of a precise bicycle is made possible through the use of a _________.

About __________ of Internet users ages 15 and older shop online in the United States.

Which of the following characteristics of electronic commerce creates customer value by contributing to place and time utility?

Seven Cycles has a __________ with its 233 authorized dealers and distributors.

Seven Cycles' motto,"One Bike.Yours." reflects the company's

Internet users ages 15 and older are expected to buy _________ worth of products and services online in 2015 (excluding travel,automobiles,and prescription medications) .