Test Your Knowledge of Online Marketing Methods with Our Quiz!

A forward auction is when sellers solicit bids from potential buyers and the highest bidder wins the items.

Name-your-own-price allows customers to decide how much they are willing to pay, while find-the-best-price allows customers to specify a need, and an intermediary compares providers and shows the lowest price.

Dumb terminals were introduced to allow remote job entry from user departments.

<p>A reverse auction is when a buyer, usually an organization, posts a request for a quotation and interested suppliers submit bids electronically, with the lowest-price bidder winning the auction.</p> Signup and view all the answers

<p>Group purchasing (e-coops) involves small buyers aggregating demand to create a large volume and conducting tendering or negotiating a low price.</p> Signup and view all the answers

<p>Personal computers were first introduced in the late 1970s, and the IBM PC legitimised the market in 1981.</p> Signup and view all the answers

<p>Electronic marketplaces and exchanges allow for efficient transactions with lower transaction costs in electronic marketplaces (private or public).</p> Signup and view all the answers

<p>Cloud computing provides access to a shared pool of computing resources over a network. It includes computers, storage, applications, and services.</p> Signup and view all the answers

<p>Governments and large corporations frequently use reverse auctions, as they can provide considerable savings for the buyer.</p> Signup and view all the answers