Question 1

In a ________ purchasing situation,the buyer wants to make some change to existing product specifications,prices,delivery requirements,or other terms.

Accepted Answer

A) new rebuy 
B) regular buy 
C) straight rebuy 
D) modified rebuy 
E) new task 
A) new rebuy 
B) regular buy 
C) straight rebuy 
D) modified rebuy 
E) new task

Question 2

The "customer is king" category of buyer-seller relationship is relatively simple,and one in which routine exchanges with moderately high levels of cooperation and information exchange occur.

Accepted Answer

A) True 
 B)False

Question 3

The demand for business goods is ultimately derived from the demand for ________.

Accepted Answer

A) raw materials 
B) consumer goods 
C) services 
D) business solutions 
E) e-commerce 
A) raw materials 
B) consumer goods 
C) services 
D) business solutions 
E) e-commerce

Question 4

Which of the following is a challenge in which business marketers differ from the consumer marketers?

Accepted Answer

A) understanding deep customer needs in new ways 
B) identifying new opportunities for organic business growth 
C) geographically concentrated buyers 
D) calculating better marketing performance and accountability metrics 
E) competing and growing in global markets,particularly China 
A) understanding deep customer needs in new ways 
B) identifying new opportunities for organic business growth 
C) geographically concentrated buyers 
D) calculating better marketing performance and accountability metrics 
E) competing and growing in global markets,particularly China

Question 5

Product value analysis is an approach to efficiency that studies whether components can be redesigned or made by more efficient methods of production without adversely impacting product performance.

Accepted Answer

A) True 
 B)False

Question 6

Patrick Jung and his associates have identified eight stages in the business buying-decision process.This model is called the ________ framework.

Accepted Answer

A) buygrid 
B) buying/selling 
C) seller-centered 
D) commercial 
E) buy-analysis 
A) buygrid 
B) buying/selling 
C) seller-centered 
D) commercial 
E) buy-analysis

Question 7

The buying process begins when someone places an order with a sales representative.

Accepted Answer

A) True 
 B)False

Question 8

The partners in ________ systems are united in operational ways,but neither demonstrates structural commitment through legal means or adaptation.

Accepted Answer

A) mutually adaptive 
B) cooperative 
C) basic buying and selling 
D) customer supply 
E) cooperative. 
A) mutually adaptive 
B) cooperative 
C) basic buying and selling 
D) customer supply 
E) cooperative.

Question 9

Systems selling is a key industrial marketing strategy in bidding to build large-scale industrial projects such as dams or pipelines.

Accepted Answer

A) True 
 B)False

Question 10

The business market consists of all the organizations that acquire goods and services used in the production of other products or services that are sold,rented,or supplied to others.List the major industries that make up the business market.

Accepted Answer

The major industries making up the busin

Question 11

What are the benefits of e-procurement?

Accepted Answer

Aggregating purchases across multiple de

Question 12

The total demand for many business goods and services is not much affected by price changes.Thus,this demand is ________.

Accepted Answer

A) derived 
B) fluctuating 
C) accelerated 
D) multiple 
E) inelastic 
A) derived 
B) fluctuating 
C) accelerated 
D) multiple 
E) inelastic

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

Initiators are those who authorize the proposed action of deciders or buyers.

Accepted Answer

A) True 
 B)False

Question 15

The ________ approach to consumer research asks customers to attach a monetary value to alternative levels of a given attribute.The value of a given configuration is determined by adding the average values of each of the given attributes.

Accepted Answer

A) benchmarking 
B) compositional 
C) importance rating 
D) focus-group 
E) conjoint analysis 
A) benchmarking 
B) compositional 
C) importance rating 
D) focus-group 
E) conjoint analysis

Question 16

Value Central has a partnership of high trust and commitment with certain suppliers and gives them access to its sophisticated and detailed daily,individual store-based sales data.In exchange,those suppliers are responsible for managing Value Central's inventory of their products.This relationship is best described as ________.

Accepted Answer

A) basic buying and selling 
B) contractual transaction 
C) collaborative 
D) customer supply 
E) customer is king 
A) basic buying and selling 
B) contractual transaction 
C) collaborative 
D) customer supply 
E) customer is king

Question 17

Buying centers usually include several participants with differing interests,authority,status,and persuasiveness.Explain.

Accepted Answer

Each member of the buying center is like

Question 18

BEL is a small seller of specialized auto parts,while MES is a large seller of auto parts.Both firms want to approach the same car company with a view to supplying parts to it.How will their approaches differ?

Accepted Answer

Small sellers like BEL concentrate on re

Question 19

Business markets have several characteristics that contrast sharply with those of consumer markets.Name and briefly characterize five of those characteristics.

Accepted Answer

The characteristics of business markets

Question 20

Framing occurs when customers are given a perspective or point of view that allows the firm to "put its best foot forward."

Accepted Answer

A) True 
 B)False

Exam 7: Analyzing Business Markets

In a ________ purchasing situation,the buyer wants to make some change to existing product specifications,prices,delivery requirements,or other terms.

The "customer is king" category of buyer-seller relationship is relatively simple,and one in which routine exchanges with moderately high levels of cooperation and information exchange occur.

The demand for business goods is ultimately derived from the demand for ________.

Which of the following is a challenge in which business marketers differ from the consumer marketers?

Product value analysis is an approach to efficiency that studies whether components can be redesigned or made by more efficient methods of production without adversely impacting product performance.

Patrick Jung and his associates have identified eight stages in the business buying-decision process.This model is called the ________ framework.

The buying process begins when someone places an order with a sales representative.

The partners in ________ systems are united in operational ways,but neither demonstrates structural commitment through legal means or adaptation.

Systems selling is a key industrial marketing strategy in bidding to build large-scale industrial projects such as dams or pipelines.

The business market consists of all the organizations that acquire goods and services used in the production of other products or services that are sold,rented,or supplied to others.List the major industries that make up the business market.

What are the benefits of e-procurement?

The total demand for many business goods and services is not much affected by price changes.Thus,this demand is ________.

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

Initiators are those who authorize the proposed action of deciders or buyers.

The ________ approach to consumer research asks customers to attach a monetary value to alternative levels of a given attribute.The value of a given configuration is determined by adding the average values of each of the given attributes.

Buying centers usually include several participants with differing interests,authority,status,and persuasiveness.Explain.

BEL is a small seller of specialized auto parts,while MES is a large seller of auto parts.Both firms want to approach the same car company with a view to supplying parts to it.How will their approaches differ?

Business markets have several characteristics that contrast sharply with those of consumer markets.Name and briefly characterize five of those characteristics.

Framing occurs when customers are given a perspective or point of view that allows the firm to "put its best foot forward."

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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