Online Auctions and Blogs Quiz
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Questions and Answers

What characterizes a double auction?

  • A type of auction that only allows sealed bids.
  • A single buyer negotiates directly with a single seller.
  • Multiple buyers and sellers interact with matched bidding and asking prices. (correct)
  • An auction where prices are fixed and cannot be altered by participants.

    • In a double auction, what is taken into consideration?

  • Bidders are limited to a fixed asking price set by sellers.
  • The quantities of goods on both the buyer and seller's sides. (correct)
  • Only the sellers’ asking prices without regard for bidders.
  • Only the highest bidder wins, regardless of seller's asking prices.

    • How does a double auction differ from a traditional auction?

  • A double auction allows for an unlimited number of bids.
  • In double auctions, the price fluctuations do not occur.
  • It involves multiple buyers and sellers rather than just a single interaction. (correct)
  • A double auction includes only one seller.

    • What is a common misconception about double auctions?

    <p>They can only exist in physical marketplaces. (C)</p> Signup and view all the answers

    Which of the following best defines a double auction?

    <p>A method where multiple sellers and buyers negotiate prices concurrently. (B)</p> Signup and view all the answers

    What is a blog primarily defined as?

    <p>An online platform dedicated to discussing specific topics. (C)</p> Signup and view all the answers

    Which of the following best describes the interaction allowed on a blog?

    <p>Readers can interact by commenting on posts. (D)</p> Signup and view all the answers

    What is the primary focus of a blog?

    <p>To provide a personal opinion or perspective on specific topics. (C)</p> Signup and view all the answers

    Which characteristic distinguishes a blog from traditional websites?

    <p>Blogs are typically updated regularly and encourage audience engagement. (C)</p> Signup and view all the answers

    Which of the following statements about blogs is false?

    <p>Blogs are private journals that cannot be accessed by others. (A)</p> Signup and view all the answers

    What is the primary function of shopping portals?

    <p>To serve as gateways to e-storefronts and e-malls. (B)</p> Signup and view all the answers

    What is an e-mall?

    <p>An online shopping center where several online stores are located (C)</p> Signup and view all the answers

    Which type of shopping portal caters to specialized markets?

    <p>Niche-oriented shopping portals focused on specific categories. (D)</p> Signup and view all the answers

    Which of the following best describes the purpose of electronic malls?

    <p>To enable online consumers to access multiple retailers (A)</p> Signup and view all the answers

    How can shopping portals benefit online shoppers?

    <p>By aggregating a wide range of products in one location. (D)</p> Signup and view all the answers

    What characteristic distinguishes comprehensive shopping portals from niche ones?

    <p>Comprehensive portals provide access to a larger array of product categories. (B)</p> Signup and view all the answers

    What distinguishes an e-mall from other online retail platforms?

    <p>The aggregation of multiple online stores in one platform (C)</p> Signup and view all the answers

    Which of the following is NOT a type of shopping portal?

    <p>General purpose shopping directories with no e-commerce. (C)</p> Signup and view all the answers

    Why are e-malls becoming an important part of online shopping?

    <p>They allow customers to compare products from different retailers easily (C)</p> Signup and view all the answers

    Which of the following is NOT a characteristic of e-malls?

    <p>Exclusive focus on physical storefronts (A)</p> Signup and view all the answers

    What is the primary role of an e-distributor in e-commerce?

    <p>To connect manufacturers with business buyers. (D)</p> Signup and view all the answers

    How does an e-distributor typically present product offerings to users?

    <p>By aggregating catalogs from multiple manufacturers in one place. (A)</p> Signup and view all the answers

    Which of the following is NOT a characteristic of an e-distributor?

    <p>It focuses exclusively on retail customers. (B)</p> Signup and view all the answers

    What advantage does an e-distributor provide to manufacturers?

    <p>It provides a singular platform for product visibility to multiple business buyers. (D)</p> Signup and view all the answers

    In an e-distributor model, who primarily benefits from the aggregation of catalogs?

    <p>Business buyers seeking a variety of options. (B)</p> Signup and view all the answers

    What year was the copyright for the content established?

    <p>2011 (D)</p> Signup and view all the answers

    Which of the following companies is mentioned as the publisher?

    <p>Pearson Education (B)</p> Signup and view all the answers

    In which format is the content published?

    <p>As a textbook (A)</p> Signup and view all the answers

    What is the significance of the phrase 'Copyright © 2011 Pearson Education, Inc.'?

    <p>It protects the content from unauthorized use. (C)</p> Signup and view all the answers

    What does 'Prentice Hall' refer to in this context?

    <p>The imprint of the publisher (C)</p> Signup and view all the answers

    Flashcards

    e-mall

    An online shopping center with many online stores.

    Online Shopping Center

    A place where online stores gather to sell their items.

    Online Stores

    Shops that sell their products through the internet.

    Electronic Mall

    Another name for an online shopping center.

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    Retailers

    Companies that sell products to customers.

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    E-distributor

    An online intermediary connecting manufacturers to business buyers.

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    Manufacturers

    Companies that produce goods.

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    Business buyers

    Companies that purchase goods in bulk.

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    Aggregating catalogs

    Collecting product listings from various manufacturers into one site.

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    Intermediary

    A go-between; a company or person facilitating a transaction.

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    Double Auction

    A type of auction where multiple buyers bid on items, and multiple sellers list their prices, with the auction system matching buyers and sellers based on prices and quantities.

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    Online Auction

    A type of auction conducted online where buyers and sellers interact electronically to bid on and sell goods or services.

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    Shopping Portals

    Online platforms that connect shoppers to various e-stores and e-malls.

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    E-storefronts

    Online versions of traditional brick-and-mortar stores, offering products for sale.

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    Niche-oriented

    Focusing on specific categories or customer groups, like specialty stores.

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    Comprehensive Shopping Portals

    Offer a wide range of products and services across diverse categories.

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    Blog

    A personal website open to the public for reading and interaction, focusing on specific topics or issues.

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    Weblogging

    Another term for blogging, which describes the activity of creating and maintaining a blog.

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    What is the purpose of a blog?

    Blogs serve as platforms for personal expression, sharing information, and fostering online communities around specific interests or topics.

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    What can a blog be used for?

    Blogs can be used for personal journaling, sharing news and updates, providing expert commentary, conducting discussions, and promoting businesses or products.

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    How do people interact with blogs?

    Readers can comment on blog posts, share them on social media, subscribe to updates, and even contribute their own content.

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    Online Retailer

    A business selling goods or services directly to consumers through their website.

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    Study Notes

    Chapter 2: E-Marketplaces: Mechanisms, Tools, and Impacts of E-Commerce

    • Learning Objectives:
      • Describe major e-commerce activities and processes, and supporting mechanisms.
      • Define e-marketplaces and list their components.
      • List major e-marketplace types and describe their features.
      • Describe electronic catalogs, search engines, and shopping carts.
      • Describe major auction types and their characteristics.
      • Discuss auction benefits, limitations, and impacts.
      • Describe online bartering and negotiation.
      • List major Web 2.0 tools and their use in e-commerce.
      • Understand virtual worlds and their use in e-commerce.

    Exhibit 2.1: EC Activities-Mechanism Connection

    • Shows relationships between e-commerce activities and mechanisms.
    • Activities include presence & discovery, trading, communication, & learning, entertainment & improvement, and other activities.
    • Mechanisms include electronic markets, storefronts, malls, portals, E-catalogs, search engines, shopping carts, directories, E-maps, E-auctions, Web 2.0 tools, social network services, virtual worlds, payment, order processing, security & support.

    Exhibit 2.2: EC Activities

    • Illustrates the connection between suppliers, the seller (company), and customers (individuals, businesses, or government).
    • Types of transactions include B2B (business-to-business), intra-business transactions, and B2B, B2C, B2G (business-to-business, business-to-consumer, business-to-government) transactions.

    E-marketplaces

    • An online marketplace, typically B2B, where buyers and sellers exchange goods or services.
    • Types: private, public, and consortia.

    Exhibit 2.3: Buying Process in an E-Market

    • Shows a flow chart of the buying process in an e-market.
    • Stages include pre-shopping activities, entering the e-shop, registering, comparing, finding the catalog, buying/not buying, shopping cart, checkout, shipment, payment, viewing order, returning items, and post-shopping activities.

    Exhibit 2.4: Functions of a Market

    • Categorizes the functions in a market (facilitation of transactions and institutional infrastructure):
    • Matching of Buyers and Sellers: product offerings, search for buyers and sellers, price discovery, organizing bids
    • Facilitation of Transactions: logistics, settlement, trust
    • Institutional Infrastructure: legal (e.g., commercial code), regulatory, discovery

    Marketspace

    • A marketplace (online) for the exchange of goods and services for money.

    E-marketplace Components and Participants

    • Components: customers, sellers (and their products/services), infrastructure
    • Products/services include digital products (goods delivered via internet).
    • Infrastructure includes the physical or virtual foundations supporting the marketplace.

    E-marketplace Components and Participants (Front-end/Back-end/Intermediary)

    • Front-end: portion of e-seller's business accessed by customers (seller's portal, catalogs, shopping cart, search engine, payment gateway).
    • Back-end: activities supporting fulfillment, inventory, purchasing from suppliers, processing payments, packaging & delivery.
    • Intermediary: third party between sellers and buyers.

    Disintermediation

    • Elimination of intermediaries between buyers and sellers.

    Types of E-Marketplaces

    • Private E-Marketplaces:
      • Sell-side: one company selling products to qualified companies (e.g., standard and/or customized).
      • Buy-side: one company purchasing from invited suppliers.
    • Public E-Marketplaces

    Customer Interaction Mechanisms: Storefronts, Malls, and Portals

    • Webstore (storefront): an individual company's website with product sales and shopping cart functions.
    • E-mall (online mall): an online shopping center with multiple stores.
    • Web (information) portal: a single point of access to business information inside and outside an organization. Types include: Commercial, Corporate, Publishing, Personal, mobile, voice, and knowledge portals.

    Roles and Value of Intermediaries in E-Marketplaces

    • Brokers: buy/sell fulfillment, virtual mall, metamediary, comparison agent, shopping facilitator, matching services.

    Customer Interaction Mechanisms: Infomediaries / E-distributor

    • Infomediaries: e-intermediaries controlling information flow, often aggregating and reselling it.
    • E-distributor: E-commerce intermediaries connecting manufacturers with business buyers (customers) by aggregating catalogs.

    Electronic Catalogs, Search Engines, and Shopping Carts

    • Electronic catalogs (e-catalogs): electronic product information presentations.
      • Advantages of online catalogs over paper catalogs: Easy updating, integrating with the purchasing process, good search capabilities, providing timely product information, ease of customization.
      • Disadvantages: difficult to develop, large fixed costs, need for customer computer/browser skills.
    • EC Search Activities, Types, and Engines:
      • Internet/Web Search
      • Enterprise Search: identifying and enabling specific content across the enterprise for authorized users.
    • Desktop search: searches a computer's contents (as opposed to the internet).
    • Search engine: a computer program accessing Internet databases for keywords/information, reporting results.
    • Software (Intelligent) Agents
    • Voice-Powered Search
    • Electronic Shopping Cart: an order processing technology to let customers accumulate items and continue shopping.

    Auctions, Bartering, and Negotiating Online

    • Auction: a competitive process for bids, prices dynamically determined by bids (forward and backward auctions).
    • Types of Auctions:
      • One Buyer, One Seller
      • One Seller, Many Potential Buyers (forward auction): a seller receives bids sequentially.
      • One Buyer, Many Potential Sellers (reverse auction): a buyer receives bids sequentially.
      • Name-your-own-price model: buyer specifies price, a C2B model.
    • Double auction: multiple buyers and their bids are matched with multiple sellers and their asking prices.

    Auctions, Bartering and Negotiating Online Continued

    • Limitations of E-Auctions: Minimal security, possibility of fraud, limited participation.
    • Impacts of Auctions: auctions as a social mechanism, visible distribution method, EC component in business models, Profit for individuals.

    Web 2.0 Tools and Services: From Blogs to Wikis to Twitter

    • Blogging (Weblogging): a personal website accessible to the public, discussing specific topics.
    • Vlog (video blog): a blog with video content.

    Chapter 3: Retailing in Electronic Commerce: Products and Services

    • Learning Objectives:
      • Describe electronic retailing (e-tailing) and its characteristics.
      • Define and describe primary e-tailing business models.
      • Describe online travel and tourism services, their impact, participants, benefits, and limitations.
      • Describe online real estate services.
      • Discuss online stock trading services.
      • Discuss cyberbanking and online personal finance.
      • Describe on-demand delivery services.
      • Describe delivery of digital products and online entertainment.
      • Discuss online consumer aids (comparison shopping).
      • Describe disintermediation and other B2C strategic issues.
    • E-tailing and Internet Marketing: The size and growth of the B2C market.
    • What sells well on the internet (items by category).
      • Travel, Computer Hardware and Software, Consumer Electronics, Office Supplies, Sport and Fitness Goods, Books and Music, Toys, Health and Beauty, etc.

    Internet Marketing and Electronic Retailing (continued)

    • Considered commerce: Online channel integrated with a physical retail business.

    Characteristics and Advantages of Successful E-tailing

    • Sound business thinking, visionary leadership, and well-thought-out strategies are important for success.
    • Implementing stable and scalable technology infrastructure is vital, including support for both online and physical business operations.

    E-tailing Business Models (Classification by Distribution Channel)

    • Direct marketing by mail-order retailers that go online.
    • Direct sales by manufacturers.
    • Pure-play e-tailers.
    • Click-and-mortar retailers.
    • Internet (online) malls.

    Travel and Tourism (Hospitality) Services Online

    • Services Provided:
      • Wireless services.
      • Direct marketing.
      • Alliances and consortia.
      • Travel-Oriented Social Networks.

    Travel and Tourism Services (continued)

    • Benefits: Free information, anytime/anywhere access, substantial discounts.
    • Limitations: Many people don't use the internet, difficulty with complex trips require stopovers.

    Employment Placement and the Job Market

    • Job seekers and employers both use the internet job market.
    • Online markets on social networks exist
    • Global online portals

    Real Estate, Insurance, and Stock Trading Online

    • Real estate online:
      • Zillow.
    • Insurance online: (specific details not provided)
    • Online stock trading:
      • Commission ($1-19).
      • Major risk = security

    Banking and Personal Finance Online

    • E-banking: various banking activities from home or the road using the internet
    • Consumer use: checking accounts, paying bills, securing loans

    Banking and Personal Finance Online (continued)

    • Home banking capabilities (informational/administrative/transactional)
    • Virtual Banks: banks that exist only online (e.g., PayPal).

    Online Financial Transaction Implementation Issues

    • Securing financial transactions, image systems (which make images of every transaction), fees (for online versus offline services)
    • Online billing and bill-paying (growing use)

    On-Demand Delivery of Products, Digital Items, Entertainment, and Gaming

    • E-grocer: online orders with delivery schedules or within a short period.
    • On-demand delivery service: express delivery.

    Online Purchase-Decision Aids

    • Shopping portals: gateways to e-storefronts and e-malls (comprehensive or niche oriented)
    • Shopping robots (agents/shopbots): tools scouting the web based on criteria
    • "Spy" services
    • Wireless shopping comparisons
    • Business ratings sites: for assessing/verifying companies,
    • Trust verification sites
    • Referral economy: effect of referrals on sales

    Issues in E-tailing and Lessons Learned

    • Channel conflict.
    • Determining the right price.
    • Product and service customization.
    • Fraud and other illegal activities
    • Lessons learned from failures.
      • Speak with one voice
      • Leverage multi-channels
      • Empower the customer

    Chapter 6: Innovative Systems: From E-Government and E-Learning to C2C E-Commerce and Collaborative Commerce

    • Learning Objectives:
      • Describe various e-government initiatives.
      • Understand e-government implementation issues (e.g., e-government 2.0, m-government).
      • Describe e-learning, virtual universities, and e-training.
      • Describe e-books.
      • Describe knowledge management and dissemination.
      • Describe C2C activities.
      • Describe collaborative commerce.

    E-government (An Overview)

    • E-commerce model for a government entity that buys from or provides goods, services, or information to businesses or citizens.
    • Government-to-Citizen (G2C): Electronic voting, Electronic Benefits Transfer.
    • Government-to-Business (G2B): Government E-Procurement, Group Purchasing, Forward E-Auctions.
    • Other types: Government-to-Government (G2G), and Government-to-Employees (G2E).
    • Internal Efficiency and Effectiveness (IEE) : initiatives for improving efficiency of government operations (e.g., E-payroll, E-records management).

    E-learning

    • Online delivery for education, training, and knowledge management.
    • Benefits: time reduction, large volume/diversity, cost reduction, higher content retention, flexibility, updated material, and a fear-free environment.
    • Drawbacks: instructor retraining, equipment needs and support, lack of face-to-face interaction, assessment, maintenance/updating, protection of intellectual property, computer literacy, and student retention. Distance learning, and Virtual University

    E-books

    • Digital book formats, read on computer screens or special devices
      • Devices for reading e-books (e.g., Kindle, Sony PRS-200, Nook)
        • Advantages and limitations

    Knowledge Management (KM)

    • KM: process of capturing, creating, storing, updating, disseminating, and using knowledge whenever needed.
    • KM Types and Activities: create, capture, refine, store, manage, disseminate, knowledge sharing, knowledge application. Online advising and consulting, expert location systems

    Collaborative Commerce (c-commerce)

    • Using digital technologies for collaboratively managing, planning, developing, and researching products, services, and innovative EC applications.
      • Collaboration Hub
    • Barriers to c-commerce: technical factors, security/privacy concerns, partner database access, internal resistance to information sharing, lack of internal skills.

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    Chapter 2 E-Marketplaces: Mechanisms, Tools, and Impacts of E-Commerce PDF

    Description

    This quiz explores the concepts of double auctions and blogs, comparing their characteristics and functions. You will learn about the differences between double auctions and traditional auctions, as well as the primary features that define a blog. Additionally, the quiz will cover shopping portals and their roles in online retail.

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