CHAPTER 7: AMAZON EXAM QUESTIONS

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CHAPTER 7: AMAZON EXAM QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -49 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation

Question 1: Habit-forming shopping behaviors

Answer:

Keep customers happy, and cultivate _______ behaviors that fuel sales growth in the long term.

Question 2: Bricks

Answer:

Clicks -->

Question 3: Flash sales

Answer:

Offering deep discounts of a limited quantity of inventory. Often run for a fixed period or until inventory is completely depleted.Players include Gilt Groupe and Amazon's MyHabit in fashion, and One Kings Lane in home décor.

Question 4: SLAM

Answer:

scan, label, apply, manifest

Question 5: AWS cloud computing business

Answer:

Largest player in that category

Question 6: East Asia

Answer:

Amazon also operates its own ocean freight for products from overseas (from primarily _____)

Question 7: Amazon's private-label brands

Answer:

Include AmazonBasics (cables, batteries, and other consumer electronics accessories), Mama Bear (diapers and other baby products), Happy Belly (foodstuffs, including nuts and trail mixes), Presto! (home cleaning products), Pinzon (bedding and bath), Strathwood (outdoor furniture), Pike Street (bath and home products), Denali (tools), and At least seven private-label clothing brands.

Question 8: Kiva-equipped warehouses

Answer:

Greater selection at lower cost

Question 9: Seven

Answer:

Amazon takes a relatively long view with a ____ year timeline

Question 10: Vertically integrating

Answer:

The larger the business, the easier it is for Amazon to justify ______ to become its own shipper in some circumstances-keeping prices and other costs down while speeding delivery

Question 11: Amazon fresh

Answer:

A FreshDirect-style grocery competitor, in several metro markets in the US, offering same-day or next-day delivery of groceries and more.

Question 12: 3 pillars of Amazon's business

Answer:

Large selection, customer experience (sometimes referred to simply as "convenience"), and lower prices

Question 13: Network effect

Answer:

That virtuous cycle of buyer-seller growth is a two-sided ____, yet another source of competitive advantage.

Question 14: Inventory turns

Answer:

The number of times inventory is sold or used during a specific period (such as a year or quarter). A higher figure means a firm is selling products quickly.

Question 15: Two-sided network effect

Answer:

Products or services that get more valuable as two distinct categories of participants expand (e.g., buyers and sellers).(i.e., more buyers attract more sellers, and more sellers attract more buyers).

Question 16: Cash Conversion Cycle (CCC)

Answer:

Period between distributing cash and collecting funds associated with a given operation (e.g., sales).

Question 17: Kiva Robots

Answer:

Allow shelves to be slotted closer together and can be queued up for rapid, never-colliding, constant round trips

Question 18: Collaborative filtering

Answer:

A classification of software that monitors trends among customers and uses this data to personalize an individual customer's experience.

Question 19: Tech-fueled logistics model

Answer:

Amazon's model

Question 20: Amazon Go

Answer:

Shop without having to wait in lines to checkout.Uses sensors, image recognition, special package markings, and continually refined artificial intelligence to allow customers to scan a phone app and enter, then pick whatever they want and be billed automatically when they leave the store.This technology could revolutionize the cost economics of convenience store retail.

Question 21: A/B test

Answer:

A randomized group of experiments used to collect data and compare performance among two options studied (A and B). A/B testing is often used in refining the design of technology products, and A/B tests are particularly easy to run over the Internet on a firm's website. Amazon, Google, and Facebook are among the firms that aggressively leverage hundreds of A/B tests a year in order to improve their product offerings.

Question 22: Dynamic pricing

Answer:

Pricing that shifts over time, usually based on conditions that change demand (e.g., charging more for scarce items).(what consumers have been known to react angrily to)

Question 23: Jeff Bezos

Answer:

Emperor of e-commerce