MGT 103 Final Study Guide Questions, Correct
Answers, and Complete Solutions | 2026
Update
Marketplace
where buyers and sellers engage in exchange relationships driven by a seller
making an offer to a buyer
Marketspace
is an online mediated exchange relationship with bidirectional communication and
commerce
Customer Value Creation in the Marketspace
• Direct, on demand info possible anywhere at any time
• Operating hours + geo constraints do not apply
Consumers can tell marketers their exact requests
• Customization
• Choice Boards
Collaborative Filtering (CF)
Is a process that groups people with similar buying intentions, preferences, and
behaviors.
Predicts future purchases
Sales recommendations
,Permission Marketing
The solicitation of a consumer's consent (called "opt-in") to receive e-mail and
advertising based on personal data supplied by the consumer.
Online Consumer Lifestyle Segmentation
-Click and Mortar
-Hunter Gathers
-Brand Loyalists
-Time Sensitive Materialists
-Hooked, Online, and Single
- E-bivalent Newbies
Click and Mortar
businesses sell products both on the internet and in stores
Hunter Gatheres
Customer gathers information via internet and compare product/services
regular basis and usually married couples with kids
Brand Loyalists
those who regularly visit their favorite bookmarked Web sites and spend the most
money online.
They are better-educated and more affluent Internet users who effortlessly
navigate familiar and trusted Web sites and enjoy the online browsing and buying
experience.
Time Sensitive Materialists
regard internet as a convenience tool for buying music, books, computer software,
electronics
Hooked, Online, and Single
, Young, affluent, and single online consumers who bank, play games, and spend
more time online than any other segment
E-bivalent Newbies
relative newcomers to the Internet who rarely spend money online but seek
product information.
What consumers buy online?
-Items where audio or video demonstration is important (CDs, DVDs,)
-Items that can be delivered digitally (computer, software, music, video)
-Unique items (collectibles specialty products, and gifts)
-Regularly purchased items for which convenience is important (groceries)
-Highly standardized products and services for which information about price is
important (small appliances, casual apparel, toys)
Items where product information is important for the purchase decision and pre-
purchase trial is not necessary
Why consumers buy online?
convenience, choice, customization, communication, cost, control
Viral Marketing
the digital version of word-of-mouth marketing: videos, ads, and other marketing
content that is so infectious that customers will seek it out or pass it along to
friends. Offer incentives for referrals.
Cross Channel Shopper
an online consumer who researches products online and then purchases them at
a retail store
Answers, and Complete Solutions | 2026
Update
Marketplace
where buyers and sellers engage in exchange relationships driven by a seller
making an offer to a buyer
Marketspace
is an online mediated exchange relationship with bidirectional communication and
commerce
Customer Value Creation in the Marketspace
• Direct, on demand info possible anywhere at any time
• Operating hours + geo constraints do not apply
Consumers can tell marketers their exact requests
• Customization
• Choice Boards
Collaborative Filtering (CF)
Is a process that groups people with similar buying intentions, preferences, and
behaviors.
Predicts future purchases
Sales recommendations
,Permission Marketing
The solicitation of a consumer's consent (called "opt-in") to receive e-mail and
advertising based on personal data supplied by the consumer.
Online Consumer Lifestyle Segmentation
-Click and Mortar
-Hunter Gathers
-Brand Loyalists
-Time Sensitive Materialists
-Hooked, Online, and Single
- E-bivalent Newbies
Click and Mortar
businesses sell products both on the internet and in stores
Hunter Gatheres
Customer gathers information via internet and compare product/services
regular basis and usually married couples with kids
Brand Loyalists
those who regularly visit their favorite bookmarked Web sites and spend the most
money online.
They are better-educated and more affluent Internet users who effortlessly
navigate familiar and trusted Web sites and enjoy the online browsing and buying
experience.
Time Sensitive Materialists
regard internet as a convenience tool for buying music, books, computer software,
electronics
Hooked, Online, and Single
, Young, affluent, and single online consumers who bank, play games, and spend
more time online than any other segment
E-bivalent Newbies
relative newcomers to the Internet who rarely spend money online but seek
product information.
What consumers buy online?
-Items where audio or video demonstration is important (CDs, DVDs,)
-Items that can be delivered digitally (computer, software, music, video)
-Unique items (collectibles specialty products, and gifts)
-Regularly purchased items for which convenience is important (groceries)
-Highly standardized products and services for which information about price is
important (small appliances, casual apparel, toys)
Items where product information is important for the purchase decision and pre-
purchase trial is not necessary
Why consumers buy online?
convenience, choice, customization, communication, cost, control
Viral Marketing
the digital version of word-of-mouth marketing: videos, ads, and other marketing
content that is so infectious that customers will seek it out or pass it along to
friends. Offer incentives for referrals.
Cross Channel Shopper
an online consumer who researches products online and then purchases them at
a retail store
