MIS 304 Exam 2 (100% Errorless Answers)

Types of e-commerce correct answers about internet exchange. Business models: categorized based on who is the "consumer" (buyer) and who is the "provider" (seller). B2B, B2C, C2C, G2C(gov), G2B, G2G brick-and-mortar correct answers Space restrictions "Limit of how much space you can take up without increasing cost" Have limited shelf space in store.... Trust- Can talk to an associate about a product... Time- Can get the product Immediately click and mortar correct answers Internet isn't restricted to a specific location, cost of business is lower, and "Unlimited shelf space" Long Tail correct answers Can have Niche products and not worry about not wasting shelf space` Capabilities & benefits of e-commerce correct answers mass customization disintermediation group buying new revenue social commerce (My Dad Grows New Stuff) Mass Customization correct answers Firms can tailor their products and services to meet customer needs Disintermediation correct answers cutting out the middleman and reaching customers more directly and efficiently (buying directly from retailer) Group Buying correct answers if many people agree to purchase the product or service, they get significant discounts (Groupon) New Revenue correct answers Can have a stream but have advertisement revenue on that stream Social Commerce correct answers people can share articles and information with each other on social media Attracting and retaining customers online correct answers -offer something unique -motivate people to visit, to stay, and to return -advertise your presence on the Web -learn from your Web site Online Consumer's Hierarchy of Needs correct answers -Structural Firmness -Functional Convenience -Representational Delight (SFR)