Marketing and Advertising Concepts Quiz

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Questions and Answers

What does behavioral targeting primarily focus on?

Grouping customers by demographics

Enhancing customer service via feedback

Creating generic advertisements for all users

Tracking online behavior of individuals (correct)

How does programmatic ad buying affect advertising?

It makes advertisements less relevant to viewers

It optimizes the process of reaching targeted audiences (correct)

It eliminates the use of online tracking altogether

It relies solely on manual ad placements

What is a characteristic feature of social e-commerce?

Direct sales without social interaction

Randomized product advertisements

Ignoring customer reviews and feedback

Utilizing a digital social graph (correct)

Which of the following best describes native advertising?

Advertisements designed to blend in with the platform's content Signup and view all the answers

What role do social networks play in marketing and advertising?

They allow brands to leverage individuals' influence over others Signup and view all the answers

What was Walmart's sales figure in 2019?

Over $524 billion Signup and view all the answers

How does customer intimacy impact a company's revenues?

It increases customer retention which raises revenues. Signup and view all the answers

What is the primary benefit of real-time data for decision making?

It enables accurate, informed decisions. Signup and view all the answers

What is primarily required for a company to maintain a competitive advantage?

Responding to customers and suppliers in real-time. Signup and view all the answers

What is an essential aspect of a company’s business model?

How a company produces, delivers, and sells products. Signup and view all the answers

What can result from managers not having accurate information at the right time?

Poor outcomes and misallocation of resources. Signup and view all the answers

What does intimacy with suppliers allow a company to achieve?

Lower costs for vital inputs. Signup and view all the answers

Why is IT considered a necessity for business survival?

It is crucial for keeping up with competitors. Signup and view all the answers

What is the responsibility in ethical decision-making primarily about?

Accepting the potential costs, duties, and obligations for decisions Signup and view all the answers

Which principle emphasizes that if an action is not right for everyone to take, it is not right for anyone?

Immanuel Kant's Categorical Imperative Signup and view all the answers

What does the 'Slippery Slope Rule' suggest regarding habitual actions?

Actions that cannot be taken repeatedly are not right to take at all Signup and view all the answers

What is meant by the term 'due process' in ethical analysis?

An ability to appeal to higher authorities with established laws Signup and view all the answers

Which ethical principle emphasizes the action that produces the least harm or potential cost?

Risk Aversion Principle Signup and view all the answers

What challenge arises from competitors copying strategic information systems?

Strategic systems may shift from providing advantages to basic survival tools. Signup and view all the answers

What ethical question is raised by information systems regarding social changes?

How to balance technological growth with human rights? Signup and view all the answers

Which of the following situations exemplifies a failed ethical judgment in business?

General Motors and its management of safety issues. Signup and view all the answers

What is a consequence of the rapid decline in data storage costs?

Data collection and storage can occur at unprecedented scales. Signup and view all the answers

Which term describes the process of combining data from multiple sources to identify hidden connections?

Nonobvious Relationship Awareness (NORA) Signup and view all the answers

What is a major ethical dilemma posed by advances in data collection?

How much data collection is considered ethical and necessary? Signup and view all the answers

What does Moore's Law indicate about computing power?

It doubles approximately every 18 months. Signup and view all the answers

What analogy is used to describe the impact of IT on society's structure?

A calm pond affected by a dropped rock. Signup and view all the answers

How do mobile devices contribute to ethical concerns in information systems?

By enabling 24/7 access to data collection. Signup and view all the answers

Which aspect of information systems can threaten existing distributions of power?

The emergence of new types of crime, such as cybercrime. Signup and view all the answers

Which amendment protects individuals from unreasonable search and seizure in relation to privacy?

Fourth Amendment Signup and view all the answers

What principle governs the collection and use of personal information according to fair information practices?

Notice/Awareness Signup and view all the answers

What does the GDPR require from firms processing EU citizens' data?

Explicit informed consent Signup and view all the answers

Which of the following forms of protection is NOT a way to safeguard intellectual property?

Securities Signup and view all the answers

What major challenge does digital media present compared to physical media?

Ease of replication Signup and view all the answers

What is the main difference between the opt-out and opt-in models?

Opt-in requires a user’s explicit permission, while opt-out provides options after data collection begins. Signup and view all the answers

What is one of the FTC Fair Information Practices (FIP) principles?

Choice/Consent Signup and view all the answers

Which of the following tools is considered a technical solution to protect user privacy online?

Email encryption Signup and view all the answers

What can be a consequence of the failure of technical solutions for privacy protection?

Users can be tracked from one site to another Signup and view all the answers

What type of collaboration focuses on mission accomplishment within or across organizations?

Formal collaboration Signup and view all the answers

What is a characteristic of a social business?

Use of social networking platforms Signup and view all the answers

Which benefit is NOT associated with collaboration and teamwork?

Enhanced employee isolation Signup and view all the answers

What role do senior managers play in a collaborative business culture?

Building and relying on teams Signup and view all the answers

Which tool is primarily used for virtual meetings in collaboration?

Videoconferencing Signup and view all the answers

What aspect of IT infrastructure does not fall under firm-wide services?

Personal computing hardware Signup and view all the answers

Which computing trend followed the introduction of personal computers in 1981?

Increase in decentralized computing Signup and view all the answers

What defines client/server computing?

Processing tasks split between clients and servers Signup and view all the answers

Which law states that the power of a network grows exponentially with the number of members?

Metcalfe's Law Signup and view all the answers

What is NOT a component of IT infrastructure?

Setting company policies Signup and view all the answers

What is a core feature of cloud computing?

Shared computing resources over a network Signup and view all the answers

Which technology driver has led to exponential growth in the internet's size?

Declining communication costs Signup and view all the answers

Which platform is widely known for enterprise social networking?

Microsoft SharePoint Signup and view all the answers

What is a primary goal of investing in collaboration technology?

Enhancing productivity and efficiency Signup and view all the answers

Study Notes

IT Innovations and Business Models

Information technology (AI) is changing relationships, hobbies, work, and other aspects of life
New business models (ex. Netflix) are emerging
E-commerce is expanding, selling services alongside goods
Businesses are becoming more collaborative
Online collaboration, business intelligence, and virtual meetings are becoming more common
Firms and organizations are using technology to understand customer needs better

Globalization and Interdependence

Internet reduces global operating costs
Foreign trade and outsourcing increase
Increased global economic interdependence
Requires a better understanding of global markets

Digital Firms and Business Relationships

Digital relationships are becoming more common
Digital firms can be more flexible
Key corporate assets are now managed digitally
Corporate organization and management strategies are adjusting to digital ways of working

Strategic Business Objectives

Firms use information systems to achieve 6 strategic objectives:
Operational excellence: improving efficiency
New products/services/business models
Customer/supplier intimacy: better customer relations
Improved decision making: accurate and timely information
Competitive advantage: better performance, lower costs
Adapting to change: for survival

Information Systems: Functions

Input = raw data from the organization, external environment, or other systems
Processing = converting data to usable information
Output = usable information that others can use
Feedback = output returned to members of the organisation to help them correct input or processing steps

Information Systems: Dimensions

Organizational: hierarchy, unique business processes, culture
Management: strategies, creativity, decision-making
Technology: hardware, software, infrastructure, and data management

Complementary Assets

Organizational assets, efficient business processes
Managerial assets, incentives
Social assets, infrastructure

Business Processes

Sets of activities, steps
May be tied to a specific functional area or can span several areas (cross-functional)

Information Systems: Types

Transaction processing systems (TPS): daily routine tasks
Management Information Systems (MIS):reports on a firm's current performance
Decision support systems (DSS): support non-routine decision-making (model-driven, Data-driven)
Executive support systems (ESS): support senior management

Enterprise Applications

Enterprise Resource Planning (ERP) systems use a central database, connect data across multiple divisions, and improve efficiency in daily operations
Supply chains: materials, transformation, and distribution of products/services
Customer Relationship Management (CRM): a system for managing interactions & data about customers
Knowledge Management Systems (KMS): used to collect and use an organization's knowledge

Technology Drivers of Infrastructure Evolution

Rapid declines in communication costs & the rise of internet usage
Growth in connectivity standards
Moore's Law, Moore's law & microprocessor performance, and the decline in data storage costs

IT Infrastructure

A set of physical devices and software needed to run an enterprise
Includes platforms for computing, telecommunications, data management, and internet services

Internet

Networks of powerful servers providing services, like websites, intranets, extranets, emails, videoconferencing
Client/server computing: work is split between clients and servers.
Packet switching: slicing messages into parcels (packets) for efficient network use.
TCP/IP: the foundation of internet communication (Transmission Control Protocol/Internet Protocol)

Data Analysis and Management

Data warehousing, extraction of information from data, and data mining to find patterns
Data mining, tools to find hidden patterns
Text mining, extracting key elements from large unstructured text data sets
Web mining, discovering patterns and information from the internet

Information Systems and Ethics

Privacy, social change, and the distribution of power, money, and rights
Laws and regulations
Ethics

Security

Threats: malicious software, hardware/software failures, human error, and natural disasters
Policies, procedures, and technical measures are used to prevent threats and protect systems

Decision Making:

Intelligence = finding and understanding problems
Design = exploring solutions
Choice = selecting the best solution
Implementation = putting the solution into action and monitoring its success
Risk-aversion principle: taking the action with minimal potential cost
Utilitarianism: achieving the greatest overall good

Emerging Technologies:

Quantum computing
Virtualization
Edge computing

E-commerce

Ways that businesses use the internet to conduct business
Increased ubiquity
Lower costs
Global reach
Richness
Interactivity
Mobile E-commerce

Marketing

Advertising formats, such as search, display, video, and rich media
Behavioural targeting
Native advertising

Mobile Commerce

Mobile app payment systems (NFC), QR code-based payments, peer-to-peer payment systems

Business Intelligence

Using data to make better business decisions
Data from multiple sources consolidated
Analyze data to uncover hidden trends or patterns

Virtual Companies

Use networks to work with other companies
Don't have traditional organizational structures, physical locations.

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Description

Test your knowledge on key concepts in marketing and advertising, including behavioral targeting, programmatic ad buying, and the impact of social networks. This quiz covers essential aspects of business models and customer intimacy, making it a great resource for anyone studying marketing trends and strategies.