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OIM 210 Exam 2: Questions/Answers (Rated A+)
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OIM 210 Exam 2: Questions/Answers (Rated A+)
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OIM 210 Exam 2: Questions/Answers (Rated A+)By going public, netflix encountered competition from the large, established
firms Wal-mart and Blockbuster. What aspect of Netflix going public lured
these firms into the market? Right Ans - By going public, Netflix was
required to disclose its financial position.
The long tail is a phenomenon whereby firms can make money by: Right
Ans - offering a selection of products or services vastly greater than
conventional retailers
Collaborative filtering is a classification of software that Right Ans -
monitors trends among customers to personalize an individual customer's
experience
How does the Cinematch recommendation system work Right Ans -
Cinematch develops a map of user ratings and steers users toward titles
preferred by people with similar tastes
Churn rate is a term that refers to the Right Ans - rate at which customers
leave a product or service
How is scale important to netflix streaming business Right Ans - a larger
firm with more customers can spend more on content licenses
price elasticity refers to the Right Ans - rate at which demand for a product
or service fluctuates with price change
Sony, a firm once synonymous with portable music, has ceded its market
dominance to Apple because Right Ans - it failed to take advantage of
opportunities presented by Moore's Law
Moore's Law Right Ans - Chip performance per dollar doubles every 18
months, microprocessors -> calculation doubles, storage -> storage doubles
Which of the following is a way to recognize potentially disruptive
innovations Right Ans - Seeking the opinions of venture capitalists,
research academics, and passionate internal engineering staff
, Which of the following is considered one of the three 'pillars' critical to
Amazon's business success Right Ans - large selection
Allowing third-party sellers to list their products on Amazon is controversial.
Why would Amazon allow products sold by others appear on its site? Right
Ans - Selection attracts customers
a network effect competitive advantage is created where more buyers attract
more sellers, giving Amazon an advantage over any rival attempting to create
a similar marketplace
Although products are sold by third parties, Amazon gains valuable data on
things such as customer browsing habits and sales
Amazons's brand is reinforced as a first-choice shopping destination
(answer is all of the above)
Which of the following is true of Amazon's warehousing process? Right Ans
- When stacking shelves in its warehouses, Amazon ensures that no two
similar products sit next to each other
Money owed for products and services purchased on credit to be paid at a
later date is known as Right Ans - accounts payable
The firm's period between paying suppliers for products and collecting funds
from customers who purchase these products is referred to as the Right
Ans - cash conversion cycle
Firms that can't generate cash quickly enough are referred to as having
Right Ans - liquidity problems
The phrase inventory turns refers to Right Ans - the number of times
inventory is sold or used during a specific period
Which of the following is true of Amazon Web Services (AWS) Right Ans - It
is just a single-digit percentage of Amazon's overall revenue
Amazon Web Services Right Ans - Offer several advantages, including
increased scalability, reliability, and security
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