MIS Chapter 5 Test Answers

question

Electronic Commerce
answer

The process of buying, selling, transferring or exchanging of products, services or information via computer networks, including the internet
question

E-Business
answer

Broader definition of Electronic Commerce. Also refers to servicing customers, collaborating with business partners, and performing electronic transaction within an organization
question

Business to Consumer
answer

the sellers are the organizations and the buyers are individuals
question

Business to Business
answer

Both the sellers and buyers are business organizations
question

Consumer to Consumer
answer

an individual sells products or services to other individuals
question

Business to Employee
answer

An organization uses e-commerce internally to provide information and services to its employees.
question

E-Government
answer

The use of Internet Technology in general and e-commerce in particular to deliver information about public services to citizens, business partners and suppliers of government entities, and those working in the public sector
question

Mobile Commerce
answer

Electronic commerce conducted in a wireless environment
question

E-Commerce Business Models
answer

– Online direct – Electronic Tendering System – Name your own price – Affiliate Marketing – Viral Marketing – Group Purchasing – Deep Discounters
question

Online Direct Marketing
answer

Manufacturers or retailers sell directly to customers
question

Electronic Tendering System
answer

Business (or governments) request quotes from suppliers; uses B2B (or G2B) with reverse auctions
question

Viral Marketing
answer

Receivers send information about your product to their friends
question

Group Purchasing
answer

Small buyers aggregate demand to get a large volume; then the group conducts tendering or negotiates a lower price
question

Online Auctions
answer

Companies run auctions of various types on the internet
question

Benefits of E-commerce
answer

– Makes national and international markets more accessible – Lowering costs of processing, distributing, and retrieving information – Access a vast number of products and services around the clock – Ability to easily and conveniently deliver information, services, and products to people in cities, rural areas, and developing countries
question

Limitations of E-commerce
answer

– Lack of universally accepted security standards – Insufficient telecommunications bandwidth – Expensive Accessibility – Perception that EC is unsecured – Unresolved legal issues – Lacks a critical mass of sellers and buyers
question

Electronic Storefront
answer

A website that represents a single store
question

Electronic Mall
answer

A collection of individual shops under one Internet address
question

Electronic Marketplace
answer

A central, virtual market space on the web where many buyers and many sellers can conducts e-commerce and e-business activities
question

Electronic Retailing
answer

The direct sale of products and services through electronic storefronts or electronic malls, usually designed around and electronic catalog format/or auctions
question

Disintermediation
answer

When the functions of providing information can be automated or eliminated
question

Cyberbanking
answer

Involves conducting banking activities from home, a place of business, or on the road instead of at a physical bank location
question

Online Securities Trading
answer

Many Canadians use computers to trade stocks, bonds, and other financial instruments
question

Online Job Market
answer

Job seekers use the online job market to reply to employment ads, to place resumes on various job sites and social networking sites, and use to recruiting firms
question

Online Travel Services
answer

Allow you to purchase airline tickets, reserve hotel rooms, and rent cars
question

Advertising
answer

An attempt to disseminate information in order to influence a buyer-seller transaction
question

Internet Advertising
answer

Redefines the advertising process, making it media-rich, dynamic, and interactive
question

Permission marketing
answer

Asks consumers to give their permission to voluntarily accept online advertising and e-mail
question

Performance-based Advertising
answer

Occurs when the advertising company pays only for measurable results
question

Impression-based Advertising
answer

Occurs when a company purchases a set amount of impressions
question

Channel Conflict
answer

Occurs when clicks-and-mortar companies may face a conflict with their regular distributors when they sell directly to customers online
question

Multichanneling
answer

A process many companies use to integrate their online and offline channels
question

Order Fulfillment
answer

Involves finding the product to be shipped; packaging the product; arrange for speedy delivery to the customer; and handle the return of unwanted or defective products
question

Public Exchanges
answer

– Vertical Exchanges – Horizontal Exchanges – Functional Exchanges
question

Electronic Payments
answer

– Electronic checks – Electronic Credit Cards – Purchasing Cards – Electronic Cash – Digital wallets

Get instant access to
all materials

Become a Member