Changing Relationships in the Digital Marketplace

Digital systems alter relationships among producers, manufacturers, distributors, and consumers by:

• enabling direct interactions and reducing intermediaries

• increasing the number of intermediaries

• eliminating the need for any form of communication

• making all transactions manual

The impact of B2B EDI, online shopping, and marketplaces on businesses and customers includes:

• Increased efficiency, wider reach, and improved customer experience.

• Decreased efficiency and limited market access.

• No significant change in business operations.

• Reduced customer satisfaction and higher costs.

Which of the following is an advantage of digital trading?

• It allows for faster and more convenient transactions.

• It requires physical presence at the trading floor.

• It limits access to global markets.

• It increases paperwork and manual processing.

Digital marketplace changes can be analyzed using which of the following?

• Real-world examples

• Fictional stories

• Personal opinions

• Unrelated statistics

Consumer experiences are affected by digital systems in which of the following ways?

• They enable faster and more convenient transactions.

• They eliminate the need for any technology.

• They make all products free of charge.

• They prevent access to online services.

What do you call a person or business that creates or grows goods or services to sell to others?

• Producer

• Consumer

• Distributor

• Customer

Who is responsible for getting products from producers to shops or customers?

• Distributor

• Manufacturer

• Consumer

• Retailer

What is an online platform for buyers and sellers to trade goods or services called?

• Marketplace

• Library

• Workshop

• Gallery

What do you call an individual who buys and uses goods or services?

• Consumer

• Producer

• Supplier

• Manufacturer

How do digital systems change relationships between producers, distributors, and consumers?

• They make it harder for producers to reach consumers

• They directly link producers, distributors, and consumers, allowing brands to sell online and bypass physical stores

• They eliminate the need for distributors

• They only benefit large companies