Question 1

Explain the concept of systems contracting.

Accepted Answer

One variant of systems selling is system

Question 2

When purchasing disposable surgical gowns,Changi Hospital's vice president of purchasing analyzes whether the hospital should buy disposable gowns or reusable gowns.If the findings favor disposable gowns,then the operating-room administrator compares various competitors' products and prices and makes a choice.Surgeons influence the decision retroactively by reporting their satisfaction with the particular brand.In this situation,the surgeons perform the role of the ________.

Accepted Answer

A) decider 
B) initiator 
C) user 
D) gatekeeper 
E) buyer 
A) decider 
B) initiator 
C) user 
D) gatekeeper 
E) buyer

Question 3

Shoe manufacturers are not going to buy much more leather if the price of leather falls,nor will they buy much less leather if the price rises,unless they can find satisfactory substitutes.This is an example of ________.

Accepted Answer

A) inelastic demand 
B) direct purchasing 
C) the acceleration effect 
D) a modified rebuy 
E) a straight rebuy 
A) inelastic demand 
B) direct purchasing 
C) the acceleration effect 
D) a modified rebuy 
E) a straight rebuy

Question 4

Government organizations typically require suppliers to submit bids,and normally they award the contract to the highest bidder.

Accepted Answer

A) True 
 B)False

Question 5

Your organization is considering selling its products to the institutional market.What type of customers will you be making your appeals to?

Accepted Answer

The institutional market consi

Question 6

In the ________ method for assessing customer value,customers are asked to place a direct dollar value on one or more changes in the market offering.

Accepted Answer

A) internal engineering assessment 
B) direct survey 
C) importance ratings 
D) field value-in-use assessment 
E) benchmarking 
A) internal engineering assessment 
B) direct survey 
C) importance ratings 
D) field value-in-use assessment 
E) benchmarking

Question 7

Define organizational buying.

Accepted Answer

Organizational buying is the decision-ma

Question 8

Explain the term opportunism with respect to business relationships.

Accepted Answer

When buyers cannot easily monitor suppli

Question 9

In the ________ method for assessing customer value,customers are shown a "benchmark" offering and then a new market offering.They are asked how much more they would pay for the new offering or how much less they would pay if certain features were removed from the benchmark offering.

Accepted Answer

A) internal engineering assessment 
B) importance ratings 
C) field value-in-use assessment 
D) benchmarking 
E) conjoint analysis 
A) internal engineering assessment 
B) importance ratings 
C) field value-in-use assessment 
D) benchmarking 
E) conjoint analysis

Question 10

The demand for business goods is ultimately derived from the demand for raw materials.

Accepted Answer

A) True 
 B)False

Question 11

In which of the following is a person performing the role of an influencer?

Accepted Answer

A) Dan decides on the product requirements and makes the final choice of suppliers. 
B) Leo has the authority to pick out the supplier and negotiate the terms of purchase. 
C) Liam heads the Tech team at LKG and provides information for evaluating the possible alternatives. 
D) LKG gets many calls from potential suppliers,and it is Leah's job to weed out the good prospects and refer them to others in LKG. 
E) Dana authorizes the actions of the deciders and buyers in LKG. 
A) Dan decides on the product requirements and makes the final choice of suppliers. 
B) Leo has the authority to pick out the supplier and negotiate the terms of purchase. 
C) Liam heads the Tech team at LKG and provides information for evaluating the possible alternatives. 
D) LKG gets many calls from potential suppliers,and it is Leah's job to weed out the good prospects and refer them to others in LKG. 
E) Dana authorizes the actions of the deciders and buyers in LKG.

Question 12

The ___________ normally deals with far fewer,much larger buyers than the consumer marketer does.

Accepted Answer

A) savvy marketer 
B) retail marketer 
C) business marketer 
D) global marketer 
E) regional marketer 
A) savvy marketer 
B) retail marketer 
C) business marketer 
D) global marketer 
E) regional marketer

Question 13

With respect to e-procurement,which of the two types of e-hubs are Web sites organized around?

Accepted Answer

A) vertical and horizontal hubs 
B) vertical and functional hubs 
C) functional hubs and organizational hubs 
D) supplier and user hubs 
E) manufacturer and supplier hubs 
A) vertical and horizontal hubs 
B) vertical and functional hubs 
C) functional hubs and organizational hubs 
D) supplier and user hubs 
E) manufacturer and supplier hubs

Question 14

The business market is essentially the same market as the consumer market.

Accepted Answer

A) True 
 B)False

Question 15

________ is composed of all parties who participate in the purchasing decision-making process and share common goals and risks associated with their decisions.

Accepted Answer

A) The buying center 
B) The marketing sales team 
C) Strategic management 
D) Engineering support 
E) The logistics center 
A) The buying center 
B) The marketing sales team 
C) Strategic management 
D) Engineering support 
E) The logistics center

Question 16

In which of the following is a person performing the role of an approver?

Accepted Answer

A) Dan decides on the product requirements and makes the final choice of suppliers. 
B) Leo has the authority to pick out the supplier and negotiate the terms of purchase. 
C) Liam heads the Tech team at LKG and provides information for evaluating the possible alternatives. 
D) LKG gets many calls from potential suppliers,and it is Leah's job to weed out the good prospects and refer them to others in LKG. 
E) Dana authorizes the actions of the deciders and buyers in LKG. 
A) Dan decides on the product requirements and makes the final choice of suppliers. 
B) Leo has the authority to pick out the supplier and negotiate the terms of purchase. 
C) Liam heads the Tech team at LKG and provides information for evaluating the possible alternatives. 
D) LKG gets many calls from potential suppliers,and it is Leah's job to weed out the good prospects and refer them to others in LKG. 
E) Dana authorizes the actions of the deciders and buyers in LKG.

Question 17

What are the benefits of vertical coordination?

Accepted Answer

Much research has advocated greater vert

Question 18

Ultimately,the amount of steel sold to General Motors depends on the consumers' demand for GM cars and trucks.From the standpoint of the steel manufacturer,which of the following demand forms is most pertinent?

Accepted Answer

A) derived demand 
B) inelastic demand 
C) geographic demand 
D) relational demand 
E) static demand 
A) derived demand 
B) inelastic demand 
C) geographic demand 
D) relational demand 
E) static demand

Question 19

Explain the concept of derived demand.

Accepted Answer

The demand for business goods is ultimat

Question 20

Small sellers concentrate on multilevel in-depth selling instead of reaching the key buying influencers.

Accepted Answer

A) True 
 B)False

Exam 7: Analyzing Business Markets

Explain the concept of systems contracting.

Shoe manufacturers are not going to buy much more leather if the price of leather falls,nor will they buy much less leather if the price rises,unless they can find satisfactory substitutes.This is an example of ________.

Government organizations typically require suppliers to submit bids,and normally they award the contract to the highest bidder.

Your organization is considering selling its products to the institutional market.What type of customers will you be making your appeals to?

In the ________ method for assessing customer value,customers are asked to place a direct dollar value on one or more changes in the market offering.

Define organizational buying.

Explain the term opportunism with respect to business relationships.

In the ________ method for assessing customer value,customers are shown a "benchmark" offering and then a new market offering.They are asked how much more they would pay for the new offering or how much less they would pay if certain features were removed from the benchmark offering.

The demand for business goods is ultimately derived from the demand for raw materials.

In which of the following is a person performing the role of an influencer?

The ___________ normally deals with far fewer,much larger buyers than the consumer marketer does.

With respect to e-procurement,which of the two types of e-hubs are Web sites organized around?

The business market is essentially the same market as the consumer market.

________ is composed of all parties who participate in the purchasing decision-making process and share common goals and risks associated with their decisions.

In which of the following is a person performing the role of an approver?

What are the benefits of vertical coordination?

Ultimately,the amount of steel sold to General Motors depends on the consumers' demand for GM cars and trucks.From the standpoint of the steel manufacturer,which of the following demand forms is most pertinent?

Explain the concept of derived demand.

Small sellers concentrate on multilevel in-depth selling instead of reaching the key buying influencers.

Defining Marketing for the New Realities

Developing Marketing Strategies and Plans

Gathering Information and Forecasting Demand

Conducting Marketing Research

Creating Customer Value,satisfaction,and Loyalty

Analyzing Consumer Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Competitive Dynamics

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Marketing Channels and Value Networks

Managing Retailing,wholesaling,and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, sales Promotions, events, and Public Relations

Managing Digital Communications: Online, social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Introducing New Market Offerings

Tapping Into Global Markets

Managing a Holistic Marketing Organization

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