MBA 706 - Exam 1 Study Guide Questions
With All Correct Answers
1. Consequences of mature industries where
Commoditization
slowing in- novation, extensive product
assortment, excess sup- ply, and frugal
consumers forces margins to the floor.
2. What are some challenges and opportunities 1. Power shift
in to- day's economy? to cus- tomers
2. Increase in
product se- lection
3. Audience and
media
fragmentation
4. Changing value
propo- sitions
5. Shift in
demand pat- terns
6. Privacy,
security, and ethical
concerns
7. Unclear legal
3. A customer-centric virtual market that offers
jurisdic- tion
closely related products or services
belonging to the same industry or diverse Meta Market (Ex: Auto
set of industries Sales)
4. A person or business that provides a single
access point for consumers to obtain goods Metamediary (Ex: Zillow)
and services from suppliers within a
metamarket, as well as offering ser- vices such
as advice, financing, etc.
5. Electronic marketplace, unbound by time or space Marketspace
6. Process of obtaining something of value by offering
1/
21
,MBA 706 - Exam 1 Study Guide Questions
With All Correct Answers
something in return Exchange
2/
21
, MBA 706 - Exam 1 Study
Guide
7. Five conditions of an exchange 1. There must be at
least two parties
2. Each party should
have something that
the other party
values.
3. Each party must
be ca- pable of
communication and
delivery.
4. Each party must
be free to accept or
reject the ex- change.
5. Each party must
believe it is desirable
to exchange with the
other party.
8. Something acquired through an exchange to Product
satisfy a need or want
9. Type of product: tangible items Goods
10. Type of product: Intangible items consisting of acts or Services
deeds
11. Type of product: Concepts aimed a promoting a bene- Ideas
fit for the customer
12. Type of product: websites, magazines, Information
schools, re- search firms
13. Type of product: software, music, and movies Digital Products
3/
21
With All Correct Answers
1. Consequences of mature industries where
Commoditization
slowing in- novation, extensive product
assortment, excess sup- ply, and frugal
consumers forces margins to the floor.
2. What are some challenges and opportunities 1. Power shift
in to- day's economy? to cus- tomers
2. Increase in
product se- lection
3. Audience and
media
fragmentation
4. Changing value
propo- sitions
5. Shift in
demand pat- terns
6. Privacy,
security, and ethical
concerns
7. Unclear legal
3. A customer-centric virtual market that offers
jurisdic- tion
closely related products or services
belonging to the same industry or diverse Meta Market (Ex: Auto
set of industries Sales)
4. A person or business that provides a single
access point for consumers to obtain goods Metamediary (Ex: Zillow)
and services from suppliers within a
metamarket, as well as offering ser- vices such
as advice, financing, etc.
5. Electronic marketplace, unbound by time or space Marketspace
6. Process of obtaining something of value by offering
1/
21
,MBA 706 - Exam 1 Study Guide Questions
With All Correct Answers
something in return Exchange
2/
21
, MBA 706 - Exam 1 Study
Guide
7. Five conditions of an exchange 1. There must be at
least two parties
2. Each party should
have something that
the other party
values.
3. Each party must
be ca- pable of
communication and
delivery.
4. Each party must
be free to accept or
reject the ex- change.
5. Each party must
believe it is desirable
to exchange with the
other party.
8. Something acquired through an exchange to Product
satisfy a need or want
9. Type of product: tangible items Goods
10. Type of product: Intangible items consisting of acts or Services
deeds
11. Type of product: Concepts aimed a promoting a bene- Ideas
fit for the customer
12. Type of product: websites, magazines, Information
schools, re- search firms
13. Type of product: software, music, and movies Digital Products
3/
21
