Chapter 11 Marketing Strategies for a Digitally Networked World PDF

lOMoARcPSD|7648752 Chapter 01 - Market-Oriented Perspectives Underlie Successful Corporate, Business, and Marketing Strategies Difficulty: Medium Page: 274 Chapter 11 Marketing Strategies for a Digitally Networked World Multiple...

lOMoARcPSD|7648752 Chapter 01 - Market-Oriented Perspectives Underlie Successful Corporate, Business, and Marketing Strategies Difficulty: Medium Page: 274 Chapter 11 Marketing Strategies for a Digitally Networked World Multiple Choice Questions 1. When people see something they like on the web or on their mobile phones, they share it with others. This illustrates the basic concept of: A. collaborative filtering. B. positive network effect. C. really simple syndication. D. viral marketing. Answer: d Level of Difficulty: Easy Page: 282 2. Tinker Inc. is a firm that provides its search engine technology to many branded search engine sites. Which of the following roles does Tinker Inc. play? A. Originator B. Contactor C. Distributor D. Optimizer Answer: a Level of Difficulty: Medium Page: 283 3. _____ involves the sale of the same good—typically an informational good—to many customers, who then combine it with information from other sources and distribute it. A. Aggregation B. Syndication C. Customization D. Subscription Answer: b Level of Difficulty: Easy Page: 283 4. In e-commerce business models, a(n) _____ refers to a website that provides news articles in electronic form and delivers them to other sites, each of which appeals to a different target audience. A. originator B. syndicator C. contractor D. optimizer Answer: b Level of Difficulty: Easy 1-61 © 2014 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Downloaded by Bích Kha Ngô ([email protected])  lOMoARcPSD|7648752 Chapter 01 - Market-Oriented Perspectives Underlie Successful Corporate, Business, and Marketing Strategies Page: 283 5. The characteristic of a new product becoming more valuable with an increase in the number of users within informational networks is referred to as _____. A. network externality B. increasing returns to scale C. benchmarking D. disintermediation Answer: a Level of Difficulty: Easy Page: 284 6. Collaborative filtering: A. enables firms to compare a consumer's past purchase to recommend a personalized newer purchase options. B. enables firms to identify formal decision rules in the way consumers behave. C. allows users to specify the nature of what is offered to them and is user-driven rather than marketer-driven. D. allows firms to conduct an interactive, online survey with potential target consumers about their tastes. Answer: a Level of Difficulty: Hard Page: 285 7. _____ techniques, which are user-driven instead of marketer-driven, allow customers to specify the nature of what is offered to them. A. Rules-based personalization B. Mass-customization C. Collaborative filtering D. Mass-media Answer: b Level of Difficulty: Easy Page: 285 8. Quickbeats.com is an online music seller that allows customers to order personalized CDs that contain only the songs chosen by the customers. Which of the following personalization techniques does Quickbeats use? A. Collaborative filtering B. Rules-based personalization C. Mass-customization D. Disintermediation Answer: c Level of Difficulty: Medium Page: 285 9. The Internet makes it possible for marketers to reach customers directly, without the 1-62 © 2014 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Downloaded by Bích Kha Ngô ([email protected])  lOMoARcPSD|7648752 Chapter 01 - Market-Oriented Perspectives Underlie Successful Corporate, Business, and Marketing Strategies expense or complication of distribution channels. This phenomenon is known as _____. A. disintermediation B. customization C. network externality D. really simple syndication Answer: a Level of Difficulty: Easy Page: 286 10. Flick Software lets its customers download its products directly from its website. Online support is also available round the clock, creating great value to customers everywhere. This illustrates that: A. there is a negative network effect. B. there are decreasing returns to scale. C. rules-based personalization has been implemented. D. a global reach exists for these services. Answer: d Level of Difficulty: Easy Page: 287 11. According to the first-mover advantage, success of a firm depends on being the first to: A. provide alternatives to an established product. B. establish a significant presence in each market niche. C. outsource labor in order to cut production costs. D. launch a frontal attack of competitors to gain market share. Answer: b Level of Difficulty: Easy Page: 289 12. Which of the following is true of firms with a first-mover advantage? A. The first-mover advantage is the best technique for building a great company. B. First movers always need to use a skimming strategy to be successful. C. All first movers capitalize on their potential advantages. D. First movers must continue to innovate to maintain their differential advantage. Answer: d Level of Difficulty: Medium Page: 289 13. In which of the following stages of customer experience process does the direction of cash flow occur from customer to producer? A. Customer insight B. Product delivery C. Production promotion, customer acquisition, and brand building D. Product return or disposal Answer: b 1-63 © 2014 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Downloaded by Bích Kha Ngô ([email protected])  lOMoARcPSD|7648752 Chapter 01 - Market-Oriented Perspectives Underlie Successful Corporate, Business, and Marketing Strategies Level of Difficulty: Easy Page: 290 14. In which stage of the consumer experience process does cash flow from the producer to the consumer? A. Product delivery B. Product return or disposal C. Customer support and service D. Customer insight Answer: b Level of Difficulty: Easy Page: 290 15. Which of the following is the first stage of the customer experience process? A. Transaction B. Production promotion, customer acquisition, and brand building C. Customer insight D. Customer support and service Answer: c Level of Difficulty: Easy Page: 290 16. In which of the following stages of the customer experience process does information flow from the producer to the customer? A. Customer insight B. Product delivery C. Product return or disposal D. Production promotion, customer acquisition, and brand building Answer: d Level of Difficulty: Easy Page: 290 17. In which stage of the consumer experience process is information about price, terms, delivery, warranty, etc. shared between both the producer and the consumer? A. Customer insight B. Product disposal C. Promotion and brand building D. Transaction Answer: d Level of Difficulty: Easy Page: 291 18. If the customer likes an offering, a(n) _____ ensues, requiring that information about pricing, terms, delivery, and so on flows to the customer, and cash—either now or upon delivery—flows the other way. A. transaction 1-64 © 2014 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Downloaded by Bích Kha Ngô ([email protected])  lOMoARcPSD|7648752 Chapter 01 - Market-Oriented Perspectives Underlie Successful Corporate, Business, and Marketing Strategies B. disintermediation C. syndication D. aggregation Answer: a Level of Difficulty: Easy Page: 291 19. In which of the following stages of the customer experience process do firms obtain data from social networking sites and instant messaging? A. Product return or disposal B. Customer insight C. Transaction D. Customer support and service Answer: b Level of Difficulty: Medium Page: 291-292 20. Which controversial system gauges a customer's desire to buy, measures his means, and sets the price accordingly? A. Dynamic pricing B. Price pooling C. Price skimming D. Hedonic pricing Answer: a Level of Difficulty: Easy Page: 294 21. _____ involves companies carefully considering which burdens they can remove from the customer, using digital technologies, and which customers can perform, assessing costs and benefits to both parties. A. Benchmarking B. Paid inclusion C. Coproduction D. Affiliate schemes Answer: c Level of Difficulty: Medium Page: 296 Essay Questions 22. What is syndication of information? List the types of syndication and explain briefly how syndication of information helps marketers. Answer: Syndication involves the sale of the same good—typically an informational good— to many customers, who may then combine it with information from other sources and distribute it. The types of syndication include the originator, syndicator, and the distributor. There are numerous ways in which syndication of information helps in the new-economy. 1-65 © 2014 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Downloaded by Bích Kha Ngô ([email protected])