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M3M4SUMMATIVE - 0041
IT0041 - SUMMATIVE 2
| Question | Answer |
|---|---|
| A bank offers customers the ability to pay bills and transfer funds online. Which term describes this? Group of answer choices Virtual banking All of the above Cyberbanking E-banking | ✅ All of the above |
| A manufacturer allows customers to design and order laptops online. Which model is this? Online mall Pure-play e-tailer Click-and-mortar Make-to-order | Make-to-order |
| A small company wants to compete with large retailers by selling online. Which e-tailing benefit helps them most? Provide customization Enable small companies to compete Lower product cost Engage customers in discussions | Enable small companies to compete |
| A company adds an escrow service to ensure safe transactions between buyers and sellers. Which concept applies? Group of answer choices Pure-play retailing Reintermediation Channel conflict Disintermediation | Reintermediation |
| A gamer buys virtual items in an online world that can be used in real-world purchases. Which concept applies? Group of answer choices Social TV Virtual world shopping Group buying Flash deals | Virtual world shopping |
| A customer wants to buy a rare collectible item that is not available in local stores. Which e-tailing advantage applies? Group of answer choices Group buying Lower supply chain cost Shop globally Flash deals | Shop globally |
| A click-and-mortar retailer struggles to keep prices competitive both online and in-store. Which issue is this? Group of answer choices Channel conflict Disintermediation Price comparison Reintermediation | Channel conflict |
| A consumer visits an online mall that redirects them to a vendor’s website to complete the purchase. Which type of mall is this? Group of answer choices Shared services mall Referring directory Flash sale mall Virtual world mall | Referring directory |
| A retailer wants to understand customer preferences and personalize product recommendations online. Which advantage applies? Better understand customers Enable small companies to compete Provide global reach Lower supply chain cost | Better understand customers |
| A retailer offers a 70% discount for 24 hours on selected items. Which B2C model is being used? Group of answer choices Event shopping Private shopping club Flash deals Online group buying | Flash deals |
| What is “disintermediation” in e-commerce? Group of answer choices Removing intermediaries between trading partners Creating new online malls Increasing channel partners Adding new intermediaries | Removing intermediaries between trading partners |
| Which term refers to sellers who conduct retail business online? Group of answer choices E-marketers E-shoppers E-vendors E-tailers | E-tailers |
| Which delivery option requires immediate fulfillment after order? Group of answer choices Standard shipping Express mail Scheduled delivery On-demand delivery | On-demand delivery |
| Which of the following is an example of a multichannel business model? Group of answer choices Flash deals Click-and-mortar retailers Pure-play e-tailers Online private shopping clubs | Click-and-mortar retailers |
| Which term refers to adding new intermediaries in online transactions? Group of answer choices Reintermediation Multichanneling Channel conflict Disintermediation | Reintermediation |
| What does “pure-play e-tailer” mean? Group of answer choices Retailer using mail-order catalogs Retailer with both online and offline stores Retailer operating only online Retailer selling only digital goods | Retailer operating only online |
| Which factor influences online vs offline retail competition? Group of answer choices Search cost Tax differences All of the above Delivery time | All of the above |
| Which of the following is a major issue in B2C e-commerce? Group of answer choices No price competition Lack of customization Channel conflict Limited global reach | Channel conflict |
| Location-based e-commerce uses which technology? Group of answer choices RFID GPS NFC QR codes | GPS |
| What is electronic retailing commonly called? Group of answer choices E-shopping E-commerce E-tailing E-marketing | E-tailing |
| A consumer uses a website that compares prices across multiple online stores. Which tool is being used? Virtual mall Shopping robot Shopping portal Social shopping | Shopping robot |
| A consumer uses Facebook reviews and friends’ ratings before buying a product online. Which concept is this? Group of answer choices Virtual mall Social shopping Shopping robot Shopping portal | Social shopping |
| A customer orders groceries online and requests delivery within an hour. Which service is this? Group of answer choices Standard shipping Scheduled delivery On-demand delivery Express mail | On-demand delivery |
| A traveler uses an app to find last-minute flight deals and book tickets online. Which service is this? Group of answer choices Virtual mall Online travel service Online private shopping club Flash deals | Online travel service |
| A company offers discounted membership for customers to access exclusive deals online for a limited time. Which model is this? Group of answer choices Flash deals Event shopping Private shopping club Group gifting | Private shopping club |
| Which of the following is an example of social shopping? Group of answer choices Buying in groups with friends Comparing prices on portals Purchasing flash deals Using shopping robots | Buying in groups with friends |
| Which term refers to online banking? Group of answer choices All of the above Virtual banking Cyberbanking E-banking | All of the above |
| Which of the following is NOT an advantage of e-tailing for customers? Group of answer choices Shop anytime and anywhere Pay less than in traditional stores Find products not available locally Physical inspection of all products | Physical inspection of all products |
| Which tool helps consumers compare prices across multiple sites? Group of answer choices Virtual malls Social TV Shopping robots Shopping portals | Shopping robots |
| Which business model combines physical stores and online presence? Group of answer choices Flash sale Virtual mall Click-and-mortar Pure-play e-tailer | Click-and-mortar |
| Which type of online mall provides a directory and transfers users to vendor sites? Group of answer choices Flash sale mall Referring directory Virtual world mall Shared services mall | Referring directory |
| Which of these goods is most likely to sell online? Group of answer choices Custom jewelry without images Fresh fruits Furniture requiring assembly Canned foods | Canned foods |
| A customer receives ads on their phone for nearby restaurants while walking downtown. Which technology is used? Group of answer choices NFC QR codes RFID GPS | GPS |
| A company sells both through physical stores and an online website. Which business model is this? Group of answer choices Pure-play e-tailer Virtual mall Click-and-mortar Direct marketing | Click-and-mortar |
| A group of friends collaborates online to buy a wedding gift. Which model applies? Group of answer choices Private shopping club Flash deals Event shopping Group gifting | Group gifting |
| A retailer removes wholesalers and sells directly to customers online. What is this called? Group of answer choices Disintermediation Reintermediation Channel conflict Multichanneling | Disintermediation |
| Which of the following is NOT a benefit of online travel services? Group of answer choices Elimination of commissions Complex trip arrangements easily handled Reduced processing fees Access to last-minute deals | Complex trip arrangements easily handled |
| Which service allows customers to configure and order directly from manufacturers? Group of answer choices Pure-play retailing Online mall Make-to-order Direct marketing | Make-to-order |
| A customer prefers buying software online because it is in a digitized format. Which product characteristic supports this? Group of answer choices Digitized format Brand name recognition Service guarantee Physical inspection required | Digitized format |
| Which B2C model offers heavily discounted products for a short time? Group of answer choices Private shopping club Flash deals Online group buying Event shopping | Flash deals |
| What does B2B e-commerce primarily refer to? Transactions between businesses and consumers Transactions between businesses conducted electronically Transactions between consumers only Transactions using physical catalogs | Transactions between businesses conducted electronically |
| Maverick buying refers to: Group of answer choices Planned purchases at negotiated prices Unplanned purchases at non-negotiated prices Group purchasing Bartering | Unplanned purchases at non-negotiated prices |
| Dynamic pricing is best exemplified by: Group of answer choices Fixed-price catalogs Stock exchanges and auctions Group purchasing Bartering | Stock exchanges and auctions |
| Which payment method is common for large B2B purchases? Group of answer choices Credit cards Cash on delivery Specialized payment arrangements Cryptocurrency | Specialized payment arrangements |
| In a sell-side e-marketplace, the model is: Group of answer choices One buyer to many sellers One seller to many buyers Many sellers to many buyers Many buyers to one seller | One seller to many buyers |
| Virtual trade shows are: Group of answer choices Physical exhibitions Online analogs of physical trade fairs Internal buyer catalogs Reverse auctions | Online analogs of physical trade fairs |
| Which procurement method aggregates participants’ demands for better prices? Group of answer choices Private auction Group purchasing Internal buyer catalog Bartering | Group purchasing |
| Which social network is commonly used for B2B networking? Group of answer choices Instagram LinkedIn TikTok Snapchat | |
| Direct materials are: Group of answer choices Used in making products Office supplies Items for maintenance and repair Nonproduction materials | Used in making products |
| Which type of marketplace serves a single industry segment? Group of answer choices Horizontal marketplace Vertical marketplace Consortium marketplace Public exchange | Vertical marketplace |
| A steel company creates its own e-marketplace to sell products directly to multiple buyers. Which model is this? Group of answer choices Buy-side Sell-side Marketplace Collaborative commerce | sell-side |
| A supplier participates in an online auction where the highest bidder wins the product. What type of auction is this? Group of answer choices Reverse auction Forward auction Dynamic pricing auction Bartering auction | Forward auction |
| A company participates in a consortium-owned exchange. What does this mean? Exchange owned by one seller Exchange owned by a few large buyers or sellers Exchange owned by government Exchange owned by intermediaries only | Exchange owned by a few large buyers or sellers |
| A business joins a vertical marketplace specializing in hospital supplies. What does “vertical” mean in this context? Covers multiple industries Focuses on one industry segment Includes only buyers Includes only sellers | Focuses on one industry segment |
| A buyer uses reverse auctions to reduce corruption and speed up delivery times. Which benefit is being realized? Increased administrative costs Lower procurement efficiency Reduced bribery and faster fulfillment Higher supplier prices | Reduced bribery and faster fulfillment |
| Company wants to reduce administrative costs/improve payment cycles by automating procurement. Which benefit of e-procurement applies Increased maverick buying Streamlined purchasing process Higher total cost of ownership Reduced collaboration | Streamlined purchasing process |
| A company uses virtual games to train employees on market predictions and decision-making. What is this practice called? Group of answer choices Gamification Dynamic pricing Bartering Forward auction | Gamification |
| A company wants to customize e-catalogs with different prices for different customers. Which benefit of B2B applies? Group of answer choices Dynamic pricing Customized catalogs Maverick buying Bartering | Customized catalogs |
| A company exchanges surplus goods for needed items without using money, through an online platform. What is this called? Group of answer choices Reverse auction Bartering exchange Group purchasing Maverick buying | Bartering exchange |
| A procurement manager uses an online system to compare prices, negotiate contracts, and place orders electronically. What is this process called? Group of answer choices E-procurement Bartering Dynamic pricing Forward auction | E-procurement |
| E-procurement refers to: Group of answer choices Manual purchase of goods Online purchase of supplies and services Physical trade shows Bartering without money | Online purchase of supplies and services |
| Reverse auctions occur in which model? Group of answer choices Sell-side Buy-side Collaborative commerce Supply chain improvement | Buy-side |
| Which of the following is a major benefit of reverse auctions? Group of answer choices Higher procurement costs Increased corruption Lower cost of items purchased Longer delivery times | Lower cost of items purchased |
| Which of the following is a limitation of e-procurement? Group of answer choices Lower administrative costs Subject to hacker attacks Improved payment process Reduced maverick buying | Subject to hacker attacks |
| Which term refers to many buyers and many sellers meeting electronically to trade? Group of answer choices Private marketplace Public exchange Reverse auction Consortium | Public exchange |
| A business uses LinkedIn to find new partners and generate sales leads. Which concept does this illustrate? Group of answer choices E-procurement B2B social networking Dynamic pricing Consortium exchange | B2B social networking |
| A buyer makes an urgent purchase without following the company’s procurement process, resulting in higher costs. What is this practice called? Group of answer choices Desktop purchasing Maverick buying Reverse auction Dynamic pricing | Maverick buying |
| A company aggregates orders from multiple small businesses to negotiate better prices for office supplies. Which procurement method is being used? Group of answer choices Maverick buying Group purchasing Bartering Consortium exchange | Group purchasing |
| A car manufacturer joins an online platform where many buyers and sellers trade automotive parts. What type of e-marketplace is this? Group of answer choices Private marketplace Public exchange Internal catalog Group purchasing | Public exchange |
| Which of the following is NOT a function of B2B exchanges? Group of answer choices Matching buyers and sellers Facilitating transactions Developing exchange policies Manufacturing products | Manufacturing products |
| Which portal type facilitates collaboration with suppliers and employees? Group of answer choices Customer portal Corporate portal Mobile portal Employee portal | Corporate portal |
| A procurement officer complains that the e-procurement system is too complex and uses outdated EDI standards. Which limitation is this? Group of answer choices Hacker attacks Integration difficulty High TCO Technology complexity | Technology complexity |
| A buyer uses an online exchange to purchase raw materials from multiple suppliers in different countries. What is the main advantage? Limited supplier options Increased geographic reach Higher procurement costs Reduced collaboration | Increased geographic reach |
| A hospital needs to purchase medical supplies from several suppliers and decides to use an online auction where suppliers compete for the lowest price. What is this called? Forward auction Reverse auction Bartering Dynamic pricing | Reverse auction |
| Gamification in B2B refers to: Group of answer choices Playing games for entertainment Virtual games for training and decision-making Auctions with dynamic pricing Bartering exchanges | Virtual games for training and decision-making |
| A large corporation creates a portal for employees to access training materials and company news. Which type of portal is this? Group of answer choices Customer portal Corporate portal Employee portal Mobile portal | Employee portal |
| A business uses a mobile portal to allow suppliers to track orders via smartphones. Which portal type is this? Group of answer choices Corporate portal Customer portal Mobile portal Employee portal | Mobile portal |
| A manufacturing company wants to sell its products to multiple retailers through an extranet. Which B2B model applies? Group of answer choices Buy-side Sell-side Marketplace Consortium | Sell-side |
| Which of the following is a basic type of B2B transaction? Group of answer choices Sell-side Buy-side Marketplaces All of the above | All of the above |
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