MGMT 221 Module 5 Exam Questions with Verified Solutions 100% Guaranteed Success
Augmented reality - Answers A technology that superimposes a computer-generated image onto an image of the real world to provide information or entertainment.
Barcode - Answers A machine-readable code consisting of ...
Augmented reality - Answers A technology that superimposes a computer-generated image onto an
image of the real world to provide information or entertainment.
Barcode - Answers A machine-readable code consisting of numbers and a pattern of thick and thin lines
that can be scanned to identify the object on which the code appears.
Business-to-business (B2B) - Answers The term referring to the markets where the buyers, sellers, and
transactions involve only organizations.
Channel conflict - Answers Competition between a manufacturer's distribution partners who sell
through different channels. Channel conflict can occur at the wholesale, retail, or internal sales
department level.
Corporate procurement - Answers The transactional elements of buying products and services by an
organization for its operational and functional needs, also known as corporate purchasing.
Corporate purchasing - Answers The transactional elements of buying products and services by an
organization for its operational and functional needs, also known as corporate procurement.
Demand management - Answers The facet of managing procurement that relates to knowing or
predicting what to buy, when, and how much.
Digital dependent - Answers The emerging generation of young people who are growing up in a world of
broadband connections, constant connectivity, and related technology and become uncomfortable if
they do not have access to it.
Digital immigrant - Answers The older generation that is comfortable with technology and
fundamentally views retail channels as separate and distinct.
Digital natives - Answers The first generation to have grown up surrounded by digital devices (i.e.,
computers, smartphones, digital cameras, video recorders, etc.) and Internet connectivity.
Direct procurement - Answers The process where organizations procure materials to produce finished
goods.
Disruptive innovation - Answers The term for transforming traditional business practices by creating new
value networks, spawning new markets, and eventually displacing earlier technologies.
E-commerce - Answers The term for commercial transactions conducted electronically on the Internet.
Electronic fund transfer (EFT) - Answers A transfer of funds from one bank account to another over a
computerized network.
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