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Questions and Answers
What percentage of all B2C e-commerce was mobile commerce in 2021?
What percentage of all B2C e-commerce was mobile commerce in 2021?
Prediction markets allow individuals to bet on the outcomes of various events.
Prediction markets allow individuals to bet on the outcomes of various events.
True
___ percent of smartphone owners use location-based services.
___ percent of smartphone owners use location-based services.
74
What is the fastest-growing form of e-commerce?
What is the fastest-growing form of e-commerce?
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Which service is considered a geoadvertising type?
Which service is considered a geoadvertising type?
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Mobile display advertising is not relevant to mobile commerce.
Mobile display advertising is not relevant to mobile commerce.
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Which companies provide account management apps in mobile commerce?
Which companies provide account management apps in mobile commerce?
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Match the following types of location-based services with their descriptions:
Match the following types of location-based services with their descriptions:
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What does long tail marketing allow businesses to do?
What does long tail marketing allow businesses to do?
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Behavioral targeting involves tracking the online behavior of individuals across many websites.
Behavioral targeting involves tracking the online behavior of individuals across many websites.
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What is the primary purpose of social network marketing?
What is the primary purpose of social network marketing?
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The phenomenon where large groups of people can make better decisions is known as the ______.
The phenomenon where large groups of people can make better decisions is known as the ______.
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Match the following features of social e-commerce with their descriptions:
Match the following features of social e-commerce with their descriptions:
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Which of the following is NOT one of the unique features of e-commerce?
Which of the following is NOT one of the unique features of e-commerce?
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E-commerce has increased transaction costs for consumers.
E-commerce has increased transaction costs for consumers.
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What is meant by 'global reach' in the context of e-commerce?
What is meant by 'global reach' in the context of e-commerce?
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E-commerce enables _____ discrimination, allowing different prices for different consumer groups.
E-commerce enables _____ discrimination, allowing different prices for different consumer groups.
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Match the e-commerce feature to its description:
Match the e-commerce feature to its description:
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What does the term 'disintermediation' refer to in e-commerce?
What does the term 'disintermediation' refer to in e-commerce?
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Richness in e-commerce allows for delivery of text, audio, and video simultaneously.
Richness in e-commerce allows for delivery of text, audio, and video simultaneously.
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What effect does ubiquity have on shopping costs?
What effect does ubiquity have on shopping costs?
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The ability of technology to provide personalized messages to customers is an example of _____
The ability of technology to provide personalized messages to customers is an example of _____
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Which characteristic of e-commerce allows merchants to adjust prices based on demand?
Which characteristic of e-commerce allows merchants to adjust prices based on demand?
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Greater information density leads to lower price transparency.
Greater information density leads to lower price transparency.
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List two effects of increased market segmentation in e-commerce.
List two effects of increased market segmentation in e-commerce.
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One effect of reduced search costs in e-commerce is _____ efficiency.
One effect of reduced search costs in e-commerce is _____ efficiency.
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Match the e-commerce feature to its impact on consumers:
Match the e-commerce feature to its impact on consumers:
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Study Notes
E-commerce Key Features
- E-commerce, the use of the internet for business, began in 1995 and has grown significantly.
- The new landscape of E-commerce is characterized by social, mobile and location-based aspects.
- The internet and the World Wide Web possess unique features that make them effective mediums for commercial activities.
- Eight key features of the internet and WWW as commercial mediums include ubiquity, global reach, universal standards, richness, interactivity, information density, personalization/customization, and social technology.
Ubiquity
- Being available everywhere, including work and home, at any given time.
- Creates a "marketspace" that transcends physical boundaries, enhancing convenience and reducing shopping costs.
Global Reach
- Internet technology reaches across national borders facilitating seamless global trade.
- The marketspace has the potential to connect billions of consumers and millions of businesses globally.
Universal Standards
- A single set of internet standards ensures easy communication between disparate computer systems.
- Lower market entry costs for merchants and reduced search costs for consumers due to easier communication.
Richness
- Capabilities of the internet to support video, audio, and text messages.
- Enables delivery of rich messages with diverse media to a large audience.
Interactivity
- The internet facilitates dynamic interaction between users and platforms.
- Consumers are active participants in the process of delivering goods to market.
Information Density
- The internet allows for a significant increase in the amount and quality of information available to all market participants.
- Enhances transparency in pricing and costs.
Personalization/Customization
- Customization of messages and goods based on individual preferences are enabled by internet tools.
- Sending personalized messages to specific individuals, and customizing products and services.
Social Technology
- The technology fosters user generated content and social networking interaction.
- User content creation and distribution facilitated by social and business models.
Effects of the Internet on the Marketplace
- The internet can minimize information asymmetry, where one party in a transaction has more important information than the other.
- Enhanced flexibility and efficiency are promoted through reduced search costs and transaction costs.
- Lower menu costs (costs of changing prices) and greater price discrimination (selling the same product at different prices to different groups).
- Dynamic pricing is enabled by the internet depending on supply and demand.
Disintermediation
- The internet can lead to disintermediation, which is the removal of intermediary organizations or layers from the value chain.
- Consumers benefit from the removal of middlemen as the cost of goods becomes lower.
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Description
Explore the essential features of e-commerce that have evolved since its inception in 1995. This quiz delves into aspects like ubiquity, global reach, and more, highlighting how the internet facilitates commercial activities. Test your knowledge on how e-commerce is transforming the way businesses operate globally.
