Chapter 1: On-Demand and Sharing Economies
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Questions and Answers

What term is used to describe a phase of World Wide Web evolution characterized by dynamic webpages, social media, mashup applications, broadband connectivity, and user-generated content?

  • Dynamic Web Era
  • Web 2.0 (correct)
  • Web 3.0
  • Social Media 2.0
  • What is the main focus of social media based on Web 2.0 technology and culture?

  • Connection and collaboration (correct)
  • Transactional interactions
  • Static content sharing
  • Offline networking
  • Which of the following is NOT one of the key strategies that companies should use to leverage their social media interactions with consumers on the Web?

  • Supporting
  • Listening
  • Reviewing (correct)
  • Talking
  • Which term describes the challenge businesses face when trying to keep up with changes by monitoring technological evolution and potential competitors?

    <p>Agility Challenge</p> Signup and view all the answers

    What is a primary characteristic of Web 2.0 technologies?

    <p>User-generated content</p> Signup and view all the answers

    A digital business model is primarily focused on making profits through traditional brick-and-mortar stores.

    <p>False</p> Signup and view all the answers

    Customer experience refers to the overall impact of a single interaction a customer has with a business.

    <p>False</p> Signup and view all the answers

    In the on-demand economy, services are provided immediately to meet consumer demand.

    <p>True</p> Signup and view all the answers

    Competitive advantage in business is achieved by offering higher prices and lower quality products than competitors.

    <p>False</p> Signup and view all the answers

    Business models are core strategies for creating profit in organizations.

    <p>True</p> Signup and view all the answers

    The sharing economy concept involves individuals sharing goods and services for free only.

    <p>False</p> Signup and view all the answers

    Digital business models do not incorporate digital technology to generate revenue.

    <p>False</p> Signup and view all the answers

    Customer experience is solely based on a single interaction point with an organization.

    <p>False</p> Signup and view all the answers

    A competitive advantage is achieved by charging more than competitors for similar products.

    <p>False</p> Signup and view all the answers

    In the on-demand and sharing economies, location-based services play a significant role in the delivery of services.

    <p>True</p> Signup and view all the answers

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