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Prep This preview shows page 8 - 10 out of 11 pages. Question 29 of 40Which of the following is NOT one of the central challenges facing the online retail industry?A. Lack of physical store presenceB. Consumer concerns about the privacy of personal information 5.0/ 5.0 Points0.0/ 5.0 Points5.0/ 5.0 Points5.0/ 5.0 PointsC. Inconvenience in returning goodsD. Delivery delays Upload your study docs or become a Course Hero member to access this document Upload your study docs or become a Course Hero member to access this document End of preview. Want to read all 11 pages? Upload your study docs or become a Course Hero member to access this document The fact that online retailers must compete with each other to grow. The real challenge is that online retailers are not only hard-wired to use the same technology to sell products, but they’re also very well known for being extremely knowledgeable about the business of their online store. It’s a big challenge for retailers, and it’s a big challenge for online retailers. You know, you want your customers to come to your store and see the products you sell to, but they don’t have the space to make a purchase themselves. I could talk a lot about how you want your customers to be able to see the products and interact with them, but I think online retailers are still the most likely to find that point of interest in their store. I would say the biggest challenge online retailers have is customers who have the space to make a purchase, but are not able to do so. If you have a physical store, you have to build a whole new shopping experience for your customers. That’s the same thing that you have to do if you’re in a brick and mortar store. Every time you open your store, you have to create a shopping experience for your customers. To quote the great Tim Ferriss “The customer is your friend” and it’s true, and the internet is the best place to do this in one fell swoop. Not all of the online retail industry is so tough. The two biggest issues are content management and product design. Content management is the most important part of any online retail industry, and it really sucks when you’re using the word “product”, because it’s so simple. On the other hand, product design is a bit of a challenge when you’re using it in the form of a product, and the most difficult part is the design of the product. So if youre like most of us, you probably have been designing products for years. Well, in the online retail industry, you probably have to design the entire product from the ground up, from the concept to the concept to the concept to the design to the design to the design to the design. Not exactly an easy task. I found that when I went to a store to buy clothes, the first thing I did was to bring the clothes home. I brought them back, and I made sure I didn’t make the mistake of bringing them home. It wasn’t a big deal, but it was pretty easy. A quick look around the store gave me some idea of what I was supposed to be doing for the clothes. You could put clothes in the bathroom, or on the shelf. If you are doing this, you are doing a job that is not a job at all. When it comes to purchasing things online, you are basically making decisions about what to buy based on the fact that you have no idea what you are going to get. You have no idea what you are going to get in the store. This is not an easy skill to develop.
Which of the following is not a major trend in online retail for 2016-2017 The number of online buyers begins to plateau The MOTO sector of the retail industry is most like the ____ sector Which of the following is nkt one of the seven major segments of the retail industry Electronics and computing All of the following statements about the MOTO sector are true except: The MOTO sector is also referred to as the specialty store sector All of the following factors that precipitated the growth of MOTO expect The growth of the cellular phone industry All the following were parts of the vision during the early days of ecommerce except the belief that New "first mover" middlemen, with expertise in ecommerce would force traditional intermidataries out of business All of the following have launched trails of buy buttons except In 2016 approximately what percentage of internet users over the age of 14 made a purchase at an online retail store Which of the following categories generates the highest % of online retail revenue All of the following are adv. of online Retail expect Which of the following is not one of the central challenges facing the online retail industry Lack of pyshical store presence Which of the following is not one of the methods used by traditional retailers to develop Omni channel integrarion Which of the following statements is not true about the automobile and automobile parts and accessories online retail category Most of the revenue in this category is generated from the sales of automobile Approx _____ retailers generate the 90% of all retail ecommerce sales Which of the following had the highest online sales revenue in 2015 Which of the following is not a key industry strategic factor All of the following are strategic factors that pertain specifically to a firm and its related business expect The lower the _____ compared to revenue, the higher the gross profit Gross margin is defined as gross profit Divided by net sales revenue Which of the following is not catorgirzed as an operating expense The cost of products being sold Operating margin is defined as Operating income or loss divided by net sales revenues What is anthor name for pro forms earnings Earnings before income taxes,depreciation, and amortization Which of the following would not be considered a current asset Current liabilities are debts of the firm that will be due within For a quick check of a firms short term finiancial health examine its ________ measures the percentage of sales revenue a firm after all expenses are deducted from gross revenues. Which of the following provides a financial snapshot of a company's assets and liabilities On a given date Which of the following is not an example of a virtual merchant Omni channel merchants are also referred to as Bricks and clicks companies Which of the following is a subscription based retailer using predictive marketing and big data Virtual merchants face potentially costs for all of the following except Building and maintaining pysxhial stores All of the following statements about amazing are true except Amazon failed to show profit in 2015 All the following are challenges faced by bricks and clicks firms except All of the following are challenges for catalog merchants except Building sophisticated order entry and fullfillment systems The term supply push refers to Making products prior to orders being based on estimated demand All of the following are examples of the challenges the traditional manu exp. when using the internet to sell directly to the consumer except Which of the following occurs when retailers of products must compete on price and currency of inventory directly against the manufacturer Which of the following has the highest share of online retail sales Which of the following has the second highest share of online retail sales In the United States the service sector accounts for approximately ____% of the United States All of the following statements about the online real estate services are true except The internet and ecommerce have created sig disintermediation in the real estate market Craigslist is a player in which of the following onljne services markets Real estate service and career services Which of the following has introduced a tool known as a consumer alerts to inform readers when a review is likely to be fraudulent What is the larger sector of the online travel services market in terms of revenue Which of the following statement is not true Online travel services are one of the few sectors in which exstensive disintermediation has occurred Expedia owns all of the following except Front (Term) Which of the following in not a major trend in the online recruitment services industry Back (Definition) Disintermediation Which of the following is not true about on demand service On demand service firms are totally new phenomenon witgout precisedent in the history of e commerce _____ is an on demand service company focused on lodging Service industry groups are categorized generally into two groups, those that provide transaction brokering and those that involve Approx. ____% of the United States labor force is involved in providing service Which of the following is not an example of a transaction brokern All the following service require extensive personalization except Which of the following best explains why the service sector is a natural avenue for ecommerce Much of the value in a service is based on the collection storage and exchange of informationn Which of the following statements about online banking is not true More people use a tablet for mobile banking than a mobile phone In___ all the customers financial (and non financial) data are pulled toghtter at a single personilzaed website The internet has resulted in lower costs, increased price comparison, and lower prices to consumers for which insurance product line All of the following statements about the online insurance industry are true except: The internet has dramatically changed the insurance industry's value chain In the United States the service sector accounts for approximately ____% of the United States All of the following statements about the online real estate services are true except The internet and ecommerce have created sig disintermediation in the real estate market Craigslist is a player in which of the following onljne services markets Real estate service and career services Which of the following has introduced a tool known as a consumer alerts to inform readers when a review is likely to be fraudulent What is the larger sector of the online travel services market in terms of revenue Which of the following statement is not true Online travel services are one of the few sectors in which exstensive disintermediation has occurred Expedia owns all of the following except Front (Term) Which of the following in not a major trend in the online recruitment services industry Back (Definition) Disintermediation Which of the following is not true about on demand service On demand service firms are totally new phenomenon witgout precisedent in the history of e commerce _____ is an on demand service company focused on lodging Service industry groups are categorized generally into two groups, those that provide transaction brokering and those that involve Approx. ____% of the United States labor force is involved in providing service Which of the following is not an example of a transaction brokern All the following service require extensive personalization except Which of the following best explains why the service sector is a natural avenue for ecommerce Much of the value in a service is based on the collection storage and exchange of informationn Which of the following statements about online banking is not true More people use a tablet for mobile banking than a mobile phone In___ all the customers financial (and non financial) data are pulled toghtter at a single personilzaed website The internet has resulted in lower costs, increased price comparison, and lower prices to consumers for which insurance product line All of the following statements about the online insurance industry are true except: The internet has dramatically changed the insurance industry's value chain Which of the following are challenges to online retail except?Solution(By Examveda Team)
All of the following are challenges to online retail except Inability to change prices nearly instantly.
Which of the following are advantages of using the online retailers?Online retailers can increase their sales and profits faster than a brick and mortar establishment because selling online offers the advantage of being open twenty-four hours a day, seven days a week. Selling online also allows retailers to sell their merchandise in any part of the world without additional expense.
Which of the following has the largest social network audience?Top Social Platforms by Monthly Active Users. Which of the following is the best definition of transaction cost?Transaction costs are expenses incurred when buying or selling a good or service. Transaction costs represent the labor required to bring a good or service to market, giving rise to entire industries dedicated to facilitating exchanges.
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