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MGSC 300 Ch. 8-11 Quiz (1)
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MGSC 300 Ch. 8-11 Quiz (1)
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MGSC 300 Ch. 8-11 QuizOlder consumers that fundamentally view retail channels as separate and distinct. - ANS-Digital
Immigrants
First digital generation surrounded by digital devices and Internet connectivity. - ANS-Digital
Natives
Emerging generation growing up in a world of broadband connections, constant connectivity
that place greater demands on retailers to use technology. - ANS-Digital Dependents
1. Purchasing online- Broader selection, lower prices, and easy searching and ordering are
featured through e-commerce 2. Employment -Job openings, résumés, and applications can be
transmitted or completed 24/7, 365 3. Online banking services- transaction cost reduction is
significant: banks pay $.02 for online versus $1.07 at a physical branch - ANS-Efficiencies of
Online Retail
Business-to-business (B2B)- The buyers, sellers, and transactions involve only organizations -
ANS-B2B
Business-to-consumer (B2C) The most well-known B2C site is Amazon.com, whose IT
developments received U.S. patents that keep it ahead of competition. - ANS-B2C
The use of mobile technology to promote, enhance, and add to value to the in-store shopping
experience. (Ex: QR codes) - ANS-Mobile Commerce
Purchasing through electronic connections between buyers and sellers - online -
ANS-E-Procurement
designed to support the planning and implementation process across the entire organization -
ANS-Business Management Systems (BMS)
designed to improve the efficiency and performance of a specific functional area within the
organization - ANS-Functional Business Systems (FBS)
Production/Operations: The tracking of materials or component parts as they enter and exit a
warehouse or manufacturing facility.
Marketing and Sales: Management of sales orders and order fulfillment.
Human Resources: Processing of payroll and employee records.
Finance/Accounting: Processing of credits and debits to a customer's checking account at a
bank - ANS-Functional areas of business and their transactions
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