2 Show Copyright © 2018 Pearson Education, Inc. 5) What standards are referred to when discussing universal standards as a unique feature of e- commerce? A) Internet technology standards B) Common spoken and written languages C) Universal measuring standards D) Universal advertising and media format standards E) EDI standards Answer: A Difficulty: Easy AACSB: Application of knowledge LO: 10-1: What are the unique features of e-commerce, digital markets, and digital goods? 6) All of the following are unique features of e-commerce technology, except: A) personalization/customization. B) interactivity. C) transparency. D) richness. E) global reach. Answer: C Difficulty: Moderate AACSB: Application of knowledge LO: 10-1: What are the unique features of e-commerce, digital markets, and digital goods? 7) Which of the following dimensions of e-commerce technology involves engaging consumers in a dialog that dynamically adjusts the experience to the individual? A) Ubiquity B) Personalization/customization C) Richness D) Interactivity E) Information density Answer: D Difficulty: Moderate AACSB: Application of knowledge LO: 10-1: What are the unique features of e-commerce, digital markets, and digital goods? 8) Which of the following dimensions of e-commerce technology involves the integration of video, audio, and text marketing messages into a single marketing message and consumer experience? A) Ubiquity B) Personalization/customization C) Richness D) Interactivity E) Social technology Answer: C Difficulty: Moderate AACSB: Application of knowledge LO: 10-1: What are the unique features of e-commerce, digital markets, and digital goods? 5) What standards are referred to when discussing universal standards as a unique featureof e-commerce?1.A) Internet technology standards2.B) Common spoken and written languages3.C) Universal measuring standards4.D) Universal advertising and media format standards5.E) EDI standardsAnswer: B 6) All of the following are unique features of e-commerce technology,except:. Get answer to your question and much more 7) Which of the following dimensions of e-commerce technology involves engagingconsumers in a dialog that dynamically adjusts the experience to the individual? Get answer to your question and much more 8) Which of the following dimensions of e-commerce technology involves the integration ofvideo, audio, and text marketing messages into a single marketing message and consumerexperience? Get answer to your question and much more Electronic Business, Electronic Commerce, and the Emerging Digital Firm E-commerce refers to:
Figure 10-1
The rapid growth of e-commerce since 1995 is due to the unique features of the Internet and the Web as a commercial medium:
The Internet also shrinks information asymmetry, which occurs when one party in a transaction has more information with respect to the transactions than the other party. For instance, the Web has reduced the information asymmetries surrounding auto purchases. Digital markets are very flexible and efficient because they allow:
Figure 10-2
The Internet digital marketplace has also greatly expanded sales of digital goods, goods that can be delivered over a digital network. In comparison to traditional goods, the marginal cost of producing another unit of a digital good is about zero, delivery costs over the Internet are low, while marketing costs are about the same and pricing can be variable. E-commerce technologies have revolutionized commerce and enabled a variety of new business models. Some are pure-play models, based purely on the Internet. Others may be hybrid clicks-and-mortar models, using Web sites as an extension of a traditional business, such as LLBean.com. New business models include:
These new business models may have revenue generated from:
What does information richness refer to?Information richness is defined as the ability of an information exchange to change participant's understanding within a time interval. Information that fits the carrying capacity of its medium more likely will be conveyed and understood efficiently and accurately.
What is the difference between personalization and customization as applied to eThe difference between personalization and customization lies with who is making the changes. Users customize products or services to fit their own needs. Great companies personalize their products, services and communications for a user. Personalization is achieved through customer data and predictive technology.
What refers to business selling goods and services electronically to individuals?At its core, electronic commerce or e-commerce is simply the buying and selling of goods and services using the internet, when shopping online.
Which of the following types of eBusiness-to-consumer (B2C) is the retail part of e-commerce on the internet. It is when businesses sell products, services or information directly to consumers.
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