Question 1

Some digital natives like eyeglass retailer Warby Parker, mattress seller Casper Sleep, clothing retailer Bonobos,jewelry retailer Blue Nile and Amazon

Accepted Answer

These digital native companies have opened physical showrooms to allow customers to experience their products in person.

Question 2

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.

Accepted Answer

C

Question 3

Which of these transactions occurred in the digital marketspace?

Accepted Answer

Emiliano bought a brand new pair of TOMS shoes through Zappos.com, which is an online retailer.

Question 4

A digitally enabled environment characterized by face-to-screen exchange relationships and electronic images and offerings is referred to as

Accepted Answer

A digital marketspace is an online environment where buyers and sellers engage in transactions through electronic means, characterized by digital interactions and offerings.

Question 5

Consumers and companies populate two market environments today. One is the traditional ________ and the other is the

Accepted Answer

The traditional market environment is the physical marketplace, while the digital marketspace refers to online platforms where transactions occur.

Question 6

Which of these characteristics of the digital marketspace creates customer value by contributing to time and place utility?

Accepted Answer

Customers can shop in the marketspace anywhere at any time, which contributes to time and place utility.

Question 7

The key difference between the traditional marketplace and the new marketspace is that the latter is a ________ exchange environment.

Accepted Answer

The new marketspace is characterized by digital exchange environments, unlike traditional marketplaces which are physical and tangible.

Question 8

Although Recreational Equipment, Inc. (www.rei.com) has typical retail store hours, 35 percent of its orders are placed between the hours of 10 p.m. and 7 a.m. This shows how the digital marketspace contributes to customer value through the creation of

Accepted Answer

The digital marketspace allows customers to shop online at any time, providing time utility by making products and services available 24/7, beyond typical store hours.

Question 9

The greatest marketspace opportunity for Seven Cycles lies in its potential for creating

Accepted Answer

The answer of The greatest marketspace opportunity for Seven Cycles...

Question 10

The greatest marketspace opportunity for marketers lies in its potential for creating ________ since communication capabilities there invite consumers to tell marketers specifically what their requirements are.

Accepted Answer

Form utility is created when marketers use consumer feedback to tailor products to meet specific needs and preferences, which is a significant opportunity in marketspaces.

Question 11

Internet users aged 15 and older are expected to buy about ________ worth of products and services online (excluding travel, automobiles, and prescription medications) in 2022.

Accepted Answer

In 2022, internet users aged 15 and older were projected to spend approximately $500 billion on products and services online, excluding travel, automobiles, and prescription medications.

Question 12

In 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.

Accepted Answer

A marketplace is a physical location where buyers and sellers meet to exchange goods and services in person.

Question 13

In the marketspace, consumers can tell marketers specifically what their requirements are, making possible the customization of a product or service to fit their exact needs. This means that marketers can use it to enhance customer value by providing

Accepted Answer

Form utility refers to the customization of a product or service to meet the specific needs and preferences of consumers, enhancing its value to them.

Question 14

Seven Cycles has a ________ with its nearly 200 authorized retailers in the United States and 30 international distributors in 40 countries.

Accepted Answer

Seven Cycles likely has a collaborative relationship with its retailers and distributors, as this implies working together towards mutual goals, which is common in business partnerships.

Question 15

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

Accepted Answer

Digital marketspace allows customers to shop from anywhere, providing convenience and accessibility, which enhances place utility by making products available regardless of location.

Question 16

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

Accepted Answer

Place utility refers to the value added by making a product available in a location convenient for consumers. Amazon's ability to sell to customers outside the United States demonstrates how the digital marketspace enhances place utility by providing access to a global market.

Question 17

Legacy companies that sell luxury fashions

Accepted Answer

Legacy luxury fashion companies are traditionally cautious about selling online due to concerns about brand image and the customer experience, which they believe are better controlled in physical stores.

Question 18

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

Accepted Answer

Seven Cycles uses the Internet to create customer value, build relationships, and produce customer experiences in novel ways by leveraging online platforms for marketing, sales, and customer engagement.

Question 19

The General offers automobile insurance online. Buyers can purchase a policy over the Internet and the company will provide immediate proof of insurance to get legal drivers on the road quickly. This shows how the digital marketspace contributes to customer value through the creation of

Accepted Answer

The answer of The General offers automobile insurance online. Buyers...

Question 20

About ________ percent of Internet users aged 15 and older have shopped online in the United States.

Accepted Answer

The answer of About ________ percent of Internet users aged...

Quiz 17: Integrated Marketing Communications and Direct Marketing