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Marketing is the process of communicating the value of a product or service to customers, for the purpose of selling that product or service. Marketing can be looked at as an organizational function and a set of processes for creating, delivering and communicating value to customers, and customer relationship management that also benefits the organization. Marketing is the science of choosing target markets through market analysis and market segmentation, as well as understanding consumer behavior and providing superior customer value. From a societal point of view, marketing is the link between a societys material requirements and its economic patterns of response. Marketing satisfies these needs and wants through exchange processes and building long term relationships. Marketing may be defined in several ways, depending on the role of the advertised enterprise in relation to the strategic role in positioning the firm within its competitive market. The main definition is often credited to Philip Kotler, recognized as the originator of the most recent developments in the field
CHAPTER 3 MARKETING IN THE INTERNET AGE MULTIPLE CHOICE QUESTIONS 1. All of the following would be considered to be specific forces that underlie the new Internet age EXCEPT: a. digitalization and connectivity. b. the explosion of the Internet. c. customization and customerization. d. increasing affluence and income in the United States. Answer: (d) Difficulty: (2) Page: 78 2. Which of the following best characterizes digital information? a. a stream of zeros and ones, or bits b. something made possible by high speed printers and color reproduction c. information in virtual space d. three-dimensional space containing compacted data Answer: (a) Difficulty: (1) Page: 78 3. Today a growing number of appliances and systems operate on digital information. For bits to flow from one appliance or location to another requires ___________, a telecommunications network. a. customization b. customerization c. connectivity d. concentration Answer: (c) Difficulty: (2) Page: 78, 79 4. ____________ are networks that connect people within a company to each other and to the company network. a. Internets b. Intranets c. Extranets d. Compunets Answer: (b) Difficulty: (1) Page: 79 44 5. A network that connects a company with its suppliers and distributors is called a(n): a. Internet. b. Intranet. c. Extranet. d. Compunet. Answer: (c) Difficulty: (2) Page: 79 6. The Johnson Company is seeking to expand its business onto the “information highway” made possible by recent advances in technology. To do this, the Johnson Company would most likely choose the: a. Internet. b. Intranet. c. Extranet. d. Compunet. Answer: (a) Difficulty: (1) Page: 79 7. By early 2001, Internet penetration in the United States had reached close to: a. 100 percent. b. 90 percent. c. 75 percent. d. 60 percent. Answer: (d) Difficulty: (3) Page: 79 8. The explosive worldwide growth in ___________ usage forms the heart of the so-called New Economy. a. population b. cell-technology c. Internet d. Intranet Answer: (c) Difficulty: (1) Page: 79 9. Established store-based retailers of all kinds began to doubt their futures as competitors sprung up selling their products and services via the Internet. They feared being _______________ by the new e-tailers. a. upstaged b. technologically intermediated c. disintermediated d. contaminated Answer: (c) Difficulty: (3) Page: 80 45 10. If brick-and-mortar firms such as Barnes & Noble or Wal-Mart start their own online sales channels, they would become a ______________ firm. a. click-only b. click-and-mortar c. disintermediated d. bits-and-mortar Answer: (b) Difficulty: (1) Page: 80 11. The Old Economy revolved around ____________ companies that mainly focused on standardizing their production, products, and business processes. a. service b. information c. entrepreneurial d. manufacturing Answer: (d) Difficulty: (2) Page: 80 12. In the Old Economy, companies felt that a key to managing their assets would be to set up command-and-control systems that would run their businesses like: a. customers would run them. b. service firms ran. c. machines. d. monopolies. Answer: (c) Difficulty: (2) Page: 80 13. In _______________, the company leaves it to individual customers to design the offering. a. customization b. customerization c. differentiation d. standardization Answer: (b) Difficulty: (2) Page: 80 14. ______________ includes all electronics-based information exchanges within or between companies and customers. a. E-commerce b. E-marketing c. E-communication d. E-business Answer: (d) Difficulty: (2) Page: 82 46 15. ___________________ involves buying and selling processes supported by electronic means, primarily the Internet. a. E-commerce b. E-marketing c. E-communication d. E-business Answer: (a) Difficulty: (2) Page: 82 16. Within e-markets, marketplaces have become: a. market regions. b. market zones. c. marketspaces. d. marketdynamos. Answer: (c) Difficulty: (1) Page: 82 17. The flip side of e-marketing is: a. e-advertising. b. e-selling. c. e-commerce. d. e-purchasing. Answer: (d) Difficulty: (1) Page: 82 18. All of the following could be listed as benefits to buyers should they choose to buy via the Internet EXCEPT: a. it can be convenient. b. it always provides buyers with the lowest competitive prices. c. it can provide buyers with greater product access and selection. d. it can provide buyers with access to a wealth of comparative information. Answer: (b) Difficulty: (2) Page: 82 19. Buyers can often use the seller’s Web site to create exactly the configuration of information, products, or services they desire. Which of the following buyer benefits would most appropriately match the above phrase? a. The Internet can be convenient. b. The Internet is interactive and immediate. c. The Internet can provide buyers with greater product access and selection. d. The Internet can always provide the lowest prices on merchandise. Answer: (b) Difficulty: (2) Page: 82, 83 47 20. All of the following could be listed as benefits to sellers should they choose to sell via the Internet EXCEPT: a. the Internet is a powerful tool for customer relationship building. b. the Internet is a more secure place to conduct transactions than in a retail environment. c. the Internet reduces costs and increases speed and efficiency. d. the Internet offers truly global commerce. Answer: (b) Difficulty: (2) Page: 83, 84 21. One author concludes that Web customers are often very loyal, and the Internet promotes this loyalty. This would be an example of which of the following benefits to sellers for using the Internet to conduct commerce? a. The Internet is a powerful tool for customer relationship building. b. The Internet is a more secure place to conduct transactions than in a retail environment. c. The Internet reduces costs and increases speed and efficiency. d. The Internet offers truly global commerce. Answer: (a) Difficulty: (2) Page: 83, 84 22. Which of the following would not be considered to be among the major Internet domains? a. B2C (business-to-consumer) b. B2B (business-to-business) c. G2C (government-to-consumer) d. C2C (consumer-to-consumer) Answer: (c) Difficulty: (1) Page: 84 23. Which of the following most accurately describes a transaction wherein online selling of goods and services goes to final consumers? a. B2C b. B2B c. C2B d. C2C Answer: (a) Difficulty: (2) Page: 84 24. Although Internet users are still younger on average than the population as a whole, consumers aged 50 and older make up: a. almost 10 percent. b. almost 20 percent. c. almost 30 percent. d. almost 40 percent. 48 Answer: (b) Difficulty: (2) Page: 85 25. With respect to Internet usage, Americans at the lower end of the socioeconomic ladder are more likely to view the Internet as: a. a way to accelerate their knowledge acquisition and as a means to step up the ladder. b. a technological roadblock that holds them down. c. a kind of home entertainment center for fun and games. d. a mechanism to correct social injustice and enhance income. Answer: (c) Difficulty: (3) Page: 87, Marketing at Work 3-1 26. With respect to the dollar volume for transactions, which of the following Internet domains is expected to reach more than three trillion by 2003? a. B2C b. B2B c. C2B d. C2C Answer: (b) Difficulty: (1) Page: 89 27. Much of B2B e-commerce takes place in ____________, which are huge e-marketspaces in which buyers and sellers find each other online, share information, and complete transactions efficiently. a. global networks b. private trading networks c. open trading networks d. Oracle trading networks Answer: (c) Difficulty: (2) Page: 89 28. B2B trading networks that link a particular seller with its own trading partners are called: a. global networks. b. private trading networks. c. open trading networks. d. Oracle trading networks. Answer: (b) Difficulty: (2) Page: 90 49 29. Josh Nielsen has decided to sell demonstration ski equipment that he has obtained from a Head Ski salesperson via eBay using its auction feature. Which of the following Internet domains would most accurately describe the form of business Josh is using? a. B2C b. B2B c. C2B d. C2C Answer: (d) Difficulty: (2) Page: 91 30. Sheryl Scott checked in to her favorite “chat room.” In her chat room, she was able use library features, exchange information with online acquaintances in real time, and make new friends with whom she can air her views on a variety of subjects. Which of the following terms would be an appropriate description of Ms. Scott’s chat room? a. an open trading network b. a private trading network c. a forum d. a private channel Answer: (c) Difficulty: (2) Page: 91 31. _____________ is the Internet version of forums. However, such groups are limited to people posting and reading messages on a specified topic, rather than managing libraries or conferencing. a. An open trading network b. A private trading network c. A private channel d. A newsgroup Answer: (d) Difficulty: (3) Page: 92 32. Using Priceline.com, would-be buyers bid for airline tickets, hotel rooms, rental cars, and even home mortgages, leaving the sellers to decide whether to accept their offers. Which of the following Internet domains best matches the above example? a. B2C b. B2B c. C2B d. C2C Answer: (c) Difficulty: (3) Page: 92 50 33. If an e-marketing distribution channel consisted of a seller, brick-and-mortar store channels, and consumers, which of the following most accurately describes this method of marketing? a. brick-and-mortar (brick-only) marketers b. click-only marketers c. click-and-mortar marketers d. click-and-service marketers Answer: (a) Difficulty: (1) Page: 92, Figure 3-3 34. If an e-marketing distribution channel consisted of a seller, brick-and-mortar store channels, e-commerce channels (and interaction between the brick-and-mortar store and e-commerce channels), and consumers, which of the following most accurately describes this method of marketing? a. brick-and-mortar (brick-only) marketers b. click-only marketers c. click-and-mortar marketers d. click-and-service marketers Answer: (c) Difficulty: (3) Page: 92, Figure 3-3 35. Which of the following would be the most appropriate example of a transaction site? a. Amazon.com b. Yahoo c. AOL d. eBay Answer: (d) Difficulty: (3) Page: 93 36. Which of the following would be the most appropriate example of a search engine/portal? a. Amazon.com b. Yahoo c. AOL d. eBay Answer: (b) Difficulty: (1) Page: 93 37. Dot-coms failed for a variety of reasons. Which of the following would be one of the chief reasons for this failure? a. Companies were unable to secure recognizable Web addresses. b. Companies had poor technological advice and had great technical difficulties. c. Companies tended to devote too much effort to acquiring new customers instead of building loyalty and purchase frequency among current customers. d. Companies tended to have inflated prices which discouraged purchase. 51 Answer: (c) Difficulty: (2) Page: 93 38. According to information found in the text, all of the following would be potential sources of e-commerce revenue EXCEPT: a. patent royalties. b. product and service sales income. c. profile income. d. market research and information fees. Answer: (a) Difficulty: (3) Page: 95, Table 3-1 39. Many Web sites have built elaborate databases based on customer information. If the Web site were to sell this information and use the database as a means of generating revenue for the firm, this would be an illustration of which of the following? a. referral income b. product and service sales income c. profile income d. market research and information fees Answer: (c) Difficulty: (2) Page: 95, Table 3-1 40. eBay puts buyers in touch with sellers and takes from a 1.25 percent to a 5 percent commission on each sale. This would be an illustration of which of the following sources of e-commerce revenue? a. referral income b. product and service sales income c. profile income d. transaction commissions and fees Answer: (d) Difficulty: (2) Page: 95, Table 3-1 41. Click-and-mortar companies are becoming more popular. Of the top 50 retail Web sites, ranked by the number of unique visitors, __________ were click-and-mortar retailers versus their Internet-only retailing counterparts. a. 45 percent b. 56 percent c. 68 percent d. 75 percent Answer: (b) Difficulty: (3) Page: 96 52 42. A(n) ________________ is a Web site designed to build customer goodwill and to supplement other sales channels rather than to sell the company’s products directly. a. e-mail and Webcasting site b. corporate Web site c. online advertising or promotion Web site d. Web community site Answer: (b) Difficulty: (2) Page: 97, Figure 3-4 43. A company provides information about its history, its mission and philosophy, and the products and services that it offers on its: a. e-mail and Webcasting site. b. corporate Web site. c. online advertising or promotion Web site. d. Web community site. Answer: (b) Difficulty: (2) Page: 98 44. A Web site that engages consumers in interactions that will move them closer to a direct purchase or other marketing outcome is called a(n): a. e-mail and Webcasting site. b. online advertising or promotion Web site. c. marketing Web site. d. Web community site. Answer: (c) Difficulty: (2) Page: 98 45. The key to designing an attractive Web site is to: a. create enough value and excitement to get customers to come to the site, stick around, and come back again. b. have cutting edge graphics that demonstrate the technology available to the Web marketer. c. have a least $2 million in design funds which provide for the interactivity demanded by today’s Web savvy consumer. d. be willing beg, borrow, or steal ideas from the top Web page designers and incorporate these ideas into the firm’s own site. Answer: (a) Difficulty: (2) Page: 99 46. For low-interest Web sites, such as one for dental floss, a company should create a corporate Web site to do all of the following EXCEPT: a. answer customer questions. b. build goodwill and excitement. c. become the primary selling channel because of the reach of the Internet. d. collect customer feedback. 53 [...]... electronic platforms (intranets, extranets, and the Internet) to conduct a company’s business b) E-commerce—buying and selling processes supported by electronic means, primarily the Internet c) E -marketing the “e-selling” side of e-commerce the company’s efforts to communicate about, promote, and sell products and services over the Internet E-business focuses on the platforms for delivery of business activities... of business activities E-commerce focuses on the processes for bringing goods and services to consumers via the Internet E -marketing is the e-selling side of e-commerce (using the promotional mix components over the Internet) Difficulty: (2) Page: 82 87 E-commerce and the Internet bring many benefits to both buyers and sellers List and briefly describe the major benefits to (a) buyers and (b) sellers... be about the same thing as the Internet practice of viral marketing? a coupon clipping b word-of-mouth marketing c disintermediation d tele -marketing Answer: (b) Difficulty: (3) Page: 102 55 Which of the following Web sites is the best illustration of a Web community? a Ben & Jerry’s Ice Cream—www.benjerry.com b Nike—www.nike.com c Hallmark Greeting Cards—www.hallmark.com d iVillage—www.ivillage.com... Difficulty: (3) Page: 108 TRUE/FALSE QUESTIONS 61 According to information provided in the text, Charles Schwab now runs the world’s largest e-commerce site 56 Answer: (True) Difficulty: (2) Page: 78 62 New types of intermediaries are among the four specific forces underlying the new Internet age Answer: (True) Difficulty: (2) Page: 78, Figure 3-1 63 The increasing age factor of U.S consumers is among the four... offers b) Marketing Web site—a Web site that engages consumers in interactions that will move them closer to a direct purchase or other marketing outcome Such sites might include a catalog, shopping tips, and promotional features c) Online advertising and promotion—advertising that appears while consumers are surfing the Web, including banner and ticker ads, interstitials, skyscrapers, and other forms... describing a new feature on Windows 2000 Sam then uses his e-mail to tell Bart about the new feature This would be an example of viral marketing Answer: (True) Difficulty: (2) Page: 102 82 Viral marketing is the automatic downloading of customized information of interest to recipient’s PCs Answer: (False) Difficulty: (3) Page: 102, 105 83 One of the major challenges facing online marketers is the inability... Difficulty: (1) Page: 108 ESSAY QUESTIONS 84 List and briefly discuss the four specific forces that underlie the new Internet age Answer: The four specific forces referred to in the text are: a) Digitalization and connectivity—much of today’s business operates on digital information, which flows through connected networks b) The explosion of the Internet the Internet has grown explosively to become the revolutionary... customerization, the company leaves it to the individual customers to design the offering For example, jeans customers take their own measurements and add specific features that they may want in their jeans, such as colorful patches Difficulty: (1) Page: 80 86 State the definitions of e-business, e-commerce, and e -marketing Discuss the differences between the concepts Answer: a) E-business the use of electronic... EXCEPT: a the lowest prices within an industry group b deep and useful information c changing promotional features d links to other related sites Answer: (a) Difficulty: (2) Page: 100 50 Advertising that appears while consumers are surfing the Web, including banner and tickler ads, interstitials, skyscrapers, and other forms is called: a specialty advertising b portal promotion c online advertising d virtual... comparative information—information about companies, products and competitors e) Online buying is interactive and immediate Consumers have a greater measure of control Benefits to sellers: a) The Internet is a powerful tool for customer relationship building b) The Internet and other electronic channels can reduce costs and increase speed and efficiency E-marketers avoid the expense of maintaining a store . transactions, which of the following Internet domains is expected to reach more than three trillion by 2 003? a. B2C b. B2B c. C2B d. C2C Answer: (b) Difficulty: (1) Page: 89 27. Much of B2B e-commerce