BMGT 301 EXAMPREP VERIFIED
QUESTIONS AND SOLUTIONS COMPLETE
LEARNING PACKAGE
●● Platforms
Answer: Refers to a common user base that is able to communicate and
share with one another
●● Exchange
Answer: transfer of data, information, or resources between people,
organizations, or computer systems so that can communicate
●● Staying power
Answer: Long-term viability of a product or service; Long-term
investments such how to use the system
●● switching costs
Answer: AKA "sticky," "friction," cost a consumer incurs when moving
when moving from one product to another "Barnacles": customers who
are tightly anchored to the firm, "Butterflies": customer who flutters
away to rivals
●● Complementary Benefits
, Answer: products or services that add additional value to the network
three value-adding sources: Exchange, staying power, and
complementary benefits
●● Application programming interfaces (API's)
Answer: Allow third parties to integrate with their products and service
Ex. apple iOS --> CarPlay
●● One-sided Market
Answer: A market that services most of its value from a single class of
users Ex. Messaging (fosters *same-side exchange benefits*)
●● Same-side exchange benefits
Answer: benefits derived by interaction among members of a single
class of participant
●● Two-sided Market
Answer: a network market that comprises two distinct categories of
participant, both of which are needed to deliver value for the network to
work (fosters *Cross-side exchange benefits*) Ex. Video Game example
--> people and software developers
●● Cross-side exchange benefit
QUESTIONS AND SOLUTIONS COMPLETE
LEARNING PACKAGE
●● Platforms
Answer: Refers to a common user base that is able to communicate and
share with one another
●● Exchange
Answer: transfer of data, information, or resources between people,
organizations, or computer systems so that can communicate
●● Staying power
Answer: Long-term viability of a product or service; Long-term
investments such how to use the system
●● switching costs
Answer: AKA "sticky," "friction," cost a consumer incurs when moving
when moving from one product to another "Barnacles": customers who
are tightly anchored to the firm, "Butterflies": customer who flutters
away to rivals
●● Complementary Benefits
, Answer: products or services that add additional value to the network
three value-adding sources: Exchange, staying power, and
complementary benefits
●● Application programming interfaces (API's)
Answer: Allow third parties to integrate with their products and service
Ex. apple iOS --> CarPlay
●● One-sided Market
Answer: A market that services most of its value from a single class of
users Ex. Messaging (fosters *same-side exchange benefits*)
●● Same-side exchange benefits
Answer: benefits derived by interaction among members of a single
class of participant
●● Two-sided Market
Answer: a network market that comprises two distinct categories of
participant, both of which are needed to deliver value for the network to
work (fosters *Cross-side exchange benefits*) Ex. Video Game example
--> people and software developers
●● Cross-side exchange benefit
