BADM 351 Exam 1 Questions with
Correct Answers
The effect of Social Media on Communication - ANSWER-Speed: messages travel
quickly
Scope: contagion; broad reach
Network Structure: who is connected; how they are connected matters
IT Savvy - ANSWER--Thinking About IT from a Strategic Business Perspective
-Understanding Enough About Technology to Most Effectively Use It
-Championing and Supporting IT Initiatives
-Knowing When Not to Invest in IT
Web 2.0 - ANSWER-communities, participation, engagement, and co-creation
openness, sharing: best ideas and talent often reside outside the firm
user-generated content
Web 1.0 to Web 2.0 - ANSWER-From the cathedral to the bazaar (Web 2.0 gives
voice to the consumer. Decision rights move away from the ivory tower)
4 P's of Marketing - ANSWER-Product
Price
Place
Promotion
5th P of Marketing - ANSWER-PEOPLE
(participation or people)
What makes it social media? - ANSWER--platform (LinkedIN, FaceBook, Twitter)
-nodes (participants, users, subscribers)
-links (connections)
**social media platform must be internet enabled
**must have some user-generated content
LinkedIn - ANSWER--Social network for professionals
-College students=fastest growing demographic
, Why do users use LinkedIn? - ANSWER-Important to Have Presence
Job Opportunities
Staying Connected
Prestige of Connections (volume and quality)
Profile Maintenance
How does LinkedIn earn revenue? - ANSWER-Talent Solutions
Marketing Solutions (ads)
Premium Subscriptions
Major costs of LinkedIn - ANSWER--People (IT, sales, product development,
management)
-Infrastructure (servers, data centers)
-Advertising
-Legal (liability, intellectual property, trademarks/brand)
-Regulatory Compliance (public firm, privacy protection)
**Fixed costs and variable revenue
Social Networks - ANSWER-(Online community that allows users to establish a
personal profile and communicate with others)
-Personal Profiles
-Groups
-Links
-Sharing
-Feeds
-Messaging and Discussions
Maersk - ANSWER--B2B
-social media approach: started small
-Twitter: "human"
-LinkedIn: reach shippers, industry people, share business news
-Tumblr: employees could blog about their lives at Maersk
-Youtube/Vimeo: share vision as more than just a shipping company
-Pinterest: interesting images...connect to other social media posts, blogs
-Instagram: #Maersk
-Google+: industry news; more formal
-Facebook: share positive an negative stories
KPIs - ANSWER-Key Performance Indicator
What are a few Key Performance Indicators? - ANSWER-shares, views, click per ad,
source, impressions, location, diversity, time of day
**Connect the social media metric to a business metric to a business objective
Correct Answers
The effect of Social Media on Communication - ANSWER-Speed: messages travel
quickly
Scope: contagion; broad reach
Network Structure: who is connected; how they are connected matters
IT Savvy - ANSWER--Thinking About IT from a Strategic Business Perspective
-Understanding Enough About Technology to Most Effectively Use It
-Championing and Supporting IT Initiatives
-Knowing When Not to Invest in IT
Web 2.0 - ANSWER-communities, participation, engagement, and co-creation
openness, sharing: best ideas and talent often reside outside the firm
user-generated content
Web 1.0 to Web 2.0 - ANSWER-From the cathedral to the bazaar (Web 2.0 gives
voice to the consumer. Decision rights move away from the ivory tower)
4 P's of Marketing - ANSWER-Product
Price
Place
Promotion
5th P of Marketing - ANSWER-PEOPLE
(participation or people)
What makes it social media? - ANSWER--platform (LinkedIN, FaceBook, Twitter)
-nodes (participants, users, subscribers)
-links (connections)
**social media platform must be internet enabled
**must have some user-generated content
LinkedIn - ANSWER--Social network for professionals
-College students=fastest growing demographic
, Why do users use LinkedIn? - ANSWER-Important to Have Presence
Job Opportunities
Staying Connected
Prestige of Connections (volume and quality)
Profile Maintenance
How does LinkedIn earn revenue? - ANSWER-Talent Solutions
Marketing Solutions (ads)
Premium Subscriptions
Major costs of LinkedIn - ANSWER--People (IT, sales, product development,
management)
-Infrastructure (servers, data centers)
-Advertising
-Legal (liability, intellectual property, trademarks/brand)
-Regulatory Compliance (public firm, privacy protection)
**Fixed costs and variable revenue
Social Networks - ANSWER-(Online community that allows users to establish a
personal profile and communicate with others)
-Personal Profiles
-Groups
-Links
-Sharing
-Feeds
-Messaging and Discussions
Maersk - ANSWER--B2B
-social media approach: started small
-Twitter: "human"
-LinkedIn: reach shippers, industry people, share business news
-Tumblr: employees could blog about their lives at Maersk
-Youtube/Vimeo: share vision as more than just a shipping company
-Pinterest: interesting images...connect to other social media posts, blogs
-Instagram: #Maersk
-Google+: industry news; more formal
-Facebook: share positive an negative stories
KPIs - ANSWER-Key Performance Indicator
What are a few Key Performance Indicators? - ANSWER-shares, views, click per ad,
source, impressions, location, diversity, time of day
**Connect the social media metric to a business metric to a business objective
