Buy or Bye!
What additional factors play a role in a customer's decision to purchase a product or service other than focus and differentiation?
a. cost
b. speed to market
c. market acceptance
d. popularity
a. cost
A locally owned restaurant is trying to compete with another restaurant that moved into town. The owners of the locally owned restaurant have a background in application development. What is an example of how the owners can use their skills to stay competitive against the national chain?
a. Create a mobile app that customers could use to see promotions and collect points
b. Create a mobile application that encourages all customers to boycott the new restaurant
c. Create a mobile application that gives directions to the restaurant
d. Ignore the new restaurant and trust your customer's loyalty to your restaurant
a. Create a mobile app that customers could use to see promotions and collect points
_____ is high when customers have many choices and low when they have few.
a. Buyer power
b. Threat of new services
c. Rivalry among existing customers
d. Risk of substitute products
a. Buyer power
In the context of using information technologies for a competitive advantage, which statement is true of a top-line strategy?
a. It focuses on generating new revenue by offering new products and services.
b. It focuses on improving efficiency by reducing overall costs.
c. It focuses on refining operations by using the latest technologies.
d. It focuses on helping different market segments achieve technological advancement.
a. It focuses on generating new revenue by offering new products and services.
An intern has basic knowledge of how to use software like word processors and spreadsheets. They cannot complete the task when asked to describe the information on the spreadsheets. What type of skills should the intern focus on to develop the skills to answer the questions?
a. Computer literacy
b. Application literacy
c. Information literacy
d. Documentation literacy
c. Information literacy
A loyal Sam's Club member moved to a new city where the closest Sam's Club is 2 hours away, but there is a Costco 30 minutes away. The member has decided to sign up for Costco and cancel the membership with Sam's Club. What type of strategy could be applied to this situation?
a. Focus
b. Mileage
c. Differentiation
d. Cost
c. Differentiation
An organization has launched a new graphic t-shirt line. Graphic t-shirts have high competition, high buyer power, and pre-existing rivalries. What can this organization do to improve its chances for success?
a. Develop a focus strategy
b. Develop a cost-savings strategy
c. Buy out the competitors
d. Buy out the suppliers
c. Buy out the competitors
How do internet streaming companies like Netflix utilize data mining to their benefit?
a. It tailors recommendations to individual customers.
b. It creates an additional revenue source from customers.
c. It creates an additional revenue source by selling customer information.
d. It tailors their shopping needs based on their watch history.
a. It tailors recommendations to individual customers.
According to Porter's Five Forces Model, ____ is low when customers have more options.
a. supplier power
b. buyer power
c. new entrant power
d. competitor power
a. supplier power
_____ is skilled in using productivity software, such as word processors, spreadsheets, database management systems, and presentation software.
a. Network literacy
b. Business literacy
c. Information literacy
d. Computer literacy
d. Computer literacy
What did Apple do as an example of a focus strategy?
a. Target consumer users instead of business users
b. Target business users instead of consumers users
c. Target a younger generation instead of an older generation
d. Target all the different segments at once
a. Target consumer users instead of business users
There is a shortage of a special thread used to make the material for a specific shirt. Costs on supplies have doubled over the last year. What has this situation created?
a. Buyer power
b. Threat of new entries
c. Supplier power
d. Rivalry power
c. Supplier power
For each database, there:
a. is only one physical view of data.
b. are only two logical views of data.
c. are multiple physical views of data.
d. is only one logical view of data.
a. is only one physical view of data.
In the context of Porter's Five Forces Model, which is the difference between buyer and supplier power?
a. Buyer power is low when customers have many choices, whereas supplier power is low when customers have fewer options.
b. Buyer power is high when customers have few choices, whereas supplier power is high when customers have more options.
c. Buyer power is low when customers have many options, whereas supplier power is low when customers have more choices.
d. Buyer power is high when customers have many choices, whereas supplier power is high when customers have fewer options.
d. Buyer power is high when customers have many choices, whereas supplier power is high when customers have fewer options.
A program relates to a computer in which of the following ways?
a. It tells the computer how to transfer data from one networked device to another.
b. It identifies whether the computer acts as a client or a server.
c. It establishes the correct language in which the system unit relates to peripheral devices.
d. It provides step-by-step directions for performing a specific task in a language the computer can understand.
d. It provides step-by-step directions for performing a specific task in a language the computer can understand.
An organization has recently launched a new product that will improve an existing widget. There are limitless uses, and it is unique to the current market. Why would you advise the company not to price it too high just because of its uniqueness?
a. Costs can be a deterrent from people purchasing it.
b. Costs need to be justified first.
c. Costs should be below market value.
d. Costs should be based on the existing widget.
a. Costs can be a deterrent from people purchasing it.
An organization has had an in-demand red shirt on backorder for two months. They are waiting to re-release it during the fourth quarter to raise the price for increased revenue before the end of the year. Based on Porter's Five Forces, what could happen that could destroy their plans?
a. A rival organization could produce the same product and make it available now.
b. All the buyers could create a petition to release the shirt now.
c. All the suppliers could refuse to deliver the materials to the organization.
d. Nothing would happen. There are no alternatives for a red shirt.
a. A rival organization could produce the same product and make it available now.
A data mart is usually _______ a data warehouse.
a. larger than
b. the same size as
c. smaller than
d. more expensive than
c. smaller than
In the context of business analytics, which method prepares a decision-maker for future events?
a. Descriptive analytics
b. Prescriptive analytics
c. Predictive analytics
d. Mobile analytics
c. Predictive analytics
Which statement demonstrates a characteristic of a high-quality inkjet printer?
a. It uses multicolor ink cartridges to print digital photographs.
b. Its output for a mainframe computer is called soft copy.
c. It uses laser-based technology that creates electrical charges on a rotating drum to attract toner.
d. It is suitable for office environments that have high-volume and high-quality printing requirements.
a. It uses multicolor ink cartridges to print digital photographs.
How does access to the Internet impact customers' buying decisions?
a. Customers now have access to various data to make more informed decisions.
b. Customers are overwhelmed with decisions and make the first choice they see.
c. Customers can no longer choose without concern about ramifications from another company.
d. Customers now need to provide their information before searching for items online.
a. Customers now have access to various data to make more informed decisions.
An organization's rapidly growing business has hired new sales personnel. Some customers are receiving duplicate sales calls from different sales representatives. What should the organization use to implement better control and reduce customer frustrations and confusion?
a. Use a CRM tool to document customer activity, such as emails, phone calls, and notes.
b. Use a spreadsheet to document emails, phone calls, and notes
c. Use MS Access to create alerts if sales personnel reach out to a customer
d. Use a community board to share notes
a. Use a CRM tool to document customer activity, such as emails, phone calls, and notes.
Choose the key factor that has contributed most to the growth and popularity of big data.
a. Implosion in data growth
b. Brick and mortar businesses
c. Mobile and wireless technology
d. Exponential decay of organizational data
c. Mobile and wireless technology
Which statement is true of an intranet?
a. It is a network within an organization that uses Internet protocols and technologies.
b. It is a network that covers a wide area with the help of rented telecommunication lines.
c. It is a network where a computer is connected to the Internet and acts as a gateway for other devices.
d. It is a widely available public network of interconnected computer networks.
a. It is a network within an organization that uses Internet protocols and technologies.
An MIS system can help identify crime statistics and allocation of the police force. How is this possible?
a. Statistics can be used to find increases and decreases in crime and determine future deployments of law enforcement personnel.
b. MIS systems use police scanners to identify areas of expected higher crime and allocate law enforcement personnel based on that information.
c. Statistics are gathered from a group consensus of informants requesting increased police presence.
d. MIS systems scan social media sites to find areas of expected higher crime rates.
a. Statistics can be used to find increases and decreases in crime and determine future deployments of law enforcement personnel.