OIM 210 EXAM 1 REVIEW QUESTIONS
In order to win customers from an established incumbent brand like Apple, a new phone
manufacturer must offer a product that exceeds not only the ____________ offered by
Apple's iPhone, but also the customer's _______________.
a) Quality, ease of access
b) Value, switching costs
c) Features, phone plan
d) Camera, experience
e) Price, expectations - Answer -b) Value, switching costs
The main reason behind TIVO's failure is:
a) it was a pioneer in the digital video recorder (DVR) market
b) it was basing their competitive advantage only on a technology that others easily
copied
c) it only recorded selective shows, which was hard for customers to track
d) it went public too soon and lost 1.5 million dollars - Answer -b) it was basing their
competitive advantage only on a technology that others easily copied
For the world's largest taxi service, what doesn't Uber own? - Answer -vehicles for hire
For the world's largest accommodations provider, what doesn't Airbnb own? - Answer -
hotels/rental properties
For the world's most visited media destination, what doesn't Facebook do? - Answer -
create content
For the world's most valuable retailer, China's Alibaba, what don't they own? - Answer -
their own product inventory
The service and ethics bar for today's manager has never been higher/lower - Answer -
higher
Social media has emerged as a catalyst for ___________ ___________. - Answer -
global change
with changing technology, more markets and opportunities are opening, however at the
same time there is an ___________ ________ going on and ___________ cannot think
the way they used to think - Answer -ethics war
managers
, IT is.... - Answer -baked into everything
Firms are harnessing social media for new _____________ _________, for millions in
_________, and to vet and build _________. - Answer -product ideas
sales
trust
Fast/cheap computing is also helping create the multibillion-dollar
_________________________. - Answer -Internet of Things
What does IoT stand for? - Answer -Internet of Things
What are 5 examples of the Internet of Things? - Answer -hotel locks
MyFitnessPal
lamps
watches
thermostats
Martin is buying a commodity good over the internet. He hops from one website to the
other to compare and contrast prices before making his purchase. According to Porter's
Five Force model, this is described as:
a) High switching costs
b) Low Power of buyers
c) High Power of buyers
d) Network effects
e) Unique and highly differentiated products - Answer -c) High Power of buyers
A consumer has had the same accountant do their taxes for the last 25 years, over 2/3
of their life. However, one day they see this awesome new commercial for TaxAct.com
promising to get them their best possible refund! Which of the following is the most
reasonable answer as to why the consumer did not do their taxes with TaxAct.com?
a) They don't trust the internet
b) The quality of service
c) High switching costs
d) Metcalf's law
e) Their psychic told them not to - Answer -c) High switching costs
Gristedes tried to copy what Freshdirect was doing. Soon enough they realized that
they were not getting optimal benefits from either their online or physical businesses. A
firm is said to be _____ when it attempts to match the benefits of a successful position
while maintaining its existing position.
In order to win customers from an established incumbent brand like Apple, a new phone
manufacturer must offer a product that exceeds not only the ____________ offered by
Apple's iPhone, but also the customer's _______________.
a) Quality, ease of access
b) Value, switching costs
c) Features, phone plan
d) Camera, experience
e) Price, expectations - Answer -b) Value, switching costs
The main reason behind TIVO's failure is:
a) it was a pioneer in the digital video recorder (DVR) market
b) it was basing their competitive advantage only on a technology that others easily
copied
c) it only recorded selective shows, which was hard for customers to track
d) it went public too soon and lost 1.5 million dollars - Answer -b) it was basing their
competitive advantage only on a technology that others easily copied
For the world's largest taxi service, what doesn't Uber own? - Answer -vehicles for hire
For the world's largest accommodations provider, what doesn't Airbnb own? - Answer -
hotels/rental properties
For the world's most visited media destination, what doesn't Facebook do? - Answer -
create content
For the world's most valuable retailer, China's Alibaba, what don't they own? - Answer -
their own product inventory
The service and ethics bar for today's manager has never been higher/lower - Answer -
higher
Social media has emerged as a catalyst for ___________ ___________. - Answer -
global change
with changing technology, more markets and opportunities are opening, however at the
same time there is an ___________ ________ going on and ___________ cannot think
the way they used to think - Answer -ethics war
managers
, IT is.... - Answer -baked into everything
Firms are harnessing social media for new _____________ _________, for millions in
_________, and to vet and build _________. - Answer -product ideas
sales
trust
Fast/cheap computing is also helping create the multibillion-dollar
_________________________. - Answer -Internet of Things
What does IoT stand for? - Answer -Internet of Things
What are 5 examples of the Internet of Things? - Answer -hotel locks
MyFitnessPal
lamps
watches
thermostats
Martin is buying a commodity good over the internet. He hops from one website to the
other to compare and contrast prices before making his purchase. According to Porter's
Five Force model, this is described as:
a) High switching costs
b) Low Power of buyers
c) High Power of buyers
d) Network effects
e) Unique and highly differentiated products - Answer -c) High Power of buyers
A consumer has had the same accountant do their taxes for the last 25 years, over 2/3
of their life. However, one day they see this awesome new commercial for TaxAct.com
promising to get them their best possible refund! Which of the following is the most
reasonable answer as to why the consumer did not do their taxes with TaxAct.com?
a) They don't trust the internet
b) The quality of service
c) High switching costs
d) Metcalf's law
e) Their psychic told them not to - Answer -c) High switching costs
Gristedes tried to copy what Freshdirect was doing. Soon enough they realized that
they were not getting optimal benefits from either their online or physical businesses. A
firm is said to be _____ when it attempts to match the benefits of a successful position
while maintaining its existing position.
