Question 1

Organizational markets differ from consumer markets in that organizational markets ________.

Accepted Answer

A) have a high number of purchases that are low risk and low cost 
B) have derived demand 
C) are not geographically concentrated 
D) have a single individual in the role of decision maker 
E) involve more frequent purchases 
A) have a high number of purchases that are low risk and low cost 
B) have derived demand 
C) are not geographically concentrated 
D) have a single individual in the role of decision maker 
E) involve more frequent purchases

Question 2

Sometimes supplier selection is based on ________,which means a buyer and a seller agree to purchase each other's goods and services even though the terms of the sales may not be the best available.

Accepted Answer

A) requisition 
B) reciprocity 
C) customer references 
D) outsourcing 
E) reverse marketing 
A) requisition 
B) reciprocity 
C) customer references 
D) outsourcing 
E) reverse marketing

Question 3

Brand loyalty in the product choice step of the consumer decision-making process is an example of a ________.

Accepted Answer

A) psychographic 
B) consumer expectation 
C) cognitive dissonance 
D) heuristic 
E) behavioral target 
A) psychographic 
B) consumer expectation 
C) cognitive dissonance 
D) heuristic 
E) behavioral target

Question 4

Fluctuating demand in business markets can be partially explained by the infrequency of the purchases.

Accepted Answer

A) True 
 B)False

Question 5

How does reverse marketing work?

Accepted Answer

Reverse marketing changes the marketing

Question 6

Aeroxchange.com was founded by 13 airline companies as a Web site where the companies could purchase all the goods and services for their operations,excluding aircraft and fuel.Selected suppliers were invited to partner with these airlines at this site.Items that are traded through Aeroxchange include a wide range of airline-specific products and services,such as engine components and maintenance.Aeroxchange is an example of a(n)________.

Accepted Answer

A) Web link 
B) search engine 
C) intranet 
D) private exchange 
E) crowdsource 
A) Web link 
B) search engine 
C) intranet 
D) private exchange 
E) crowdsource

Question 7

________ is the knowing component of attitudes.It is the beliefs or knowledge a person has about a product and its important characteristics.

Accepted Answer

A) Affect 
B) Cognition 
C) Behavior 
D) Motivation 
E) Personality 
A) Affect 
B) Cognition 
C) Behavior 
D) Motivation 
E) Personality

Question 8

________ refers to how positive a person's ________ is.

Accepted Answer

A) Personality;psychography 
B) Affect;attitude 
C) Attitude;affect 
D) Self-concept;self-esteem 
E) Self-esteem;self concept 
A) Personality;psychography 
B) Affect;attitude 
C) Attitude;affect 
D) Self-concept;self-esteem 
E) Self-esteem;self concept

Question 9

Tri Restaurant,Inc.is the parent company of three chains of restaurants.How might Tri Restaurant,Inc.utilize the company extranet?

Accepted Answer

A company uses an extranet to allow cert

Question 10

Identify two postpurchase evaluation metrics that may be used in the B2B buying process.

Accepted Answer

Postpurchase evaluation metric

Question 11

The major categories of business-to-business customers are ________.

Accepted Answer

A) producers,retailers,and consumers 
B) resellers and governments 
C) organizations,producers,and manufacturers 
D) producers,resellers,and organizations 
E) consumers and retailers 
A) producers,retailers,and consumers 
B) resellers and governments 
C) organizations,producers,and manufacturers 
D) producers,resellers,and organizations 
E) consumers and retailers

Question 12

Consumer satisfaction/dissatisfaction is part of the ________ step of the consumer decision-making process.

Accepted Answer

A) problem recognition 
B) information search 
C) evaluation of alternatives 
D) product choice 
E) postpurchase evaluation 
A) problem recognition 
B) information search 
C) evaluation of alternatives 
D) product choice 
E) postpurchase evaluation

Question 13

Which of the following refers to the extent to which a person devotes mental-processing activity to a particular stimulus?

Accepted Answer

A) cognition 
B) attention 
C) affect 
D) interpretation 
E) exposure 
A) cognition 
B) attention 
C) affect 
D) interpretation 
E) exposure

Question 14

A Miami restaurant has created atmosphere through its subtle use of blue and green lighting,ceiling fans over each table,and frozen drinks.If its electrical energy supplier raises its prices,the restaurant will most likely ________.

Accepted Answer

A) continue its present operation because it has an elastic demand for electricity 
B) ask other Miami restaurants to create a derived demand for cheaper electricity 
C) decide to find other ways to use electricity 
D) continue its present operation because it has an inelastic demand for electricity 
E) remove its lighting,turn off its fans,and economize on its use of electricity 
A) continue its present operation because it has an elastic demand for electricity 
B) ask other Miami restaurants to create a derived demand for cheaper electricity 
C) decide to find other ways to use electricity 
D) continue its present operation because it has an inelastic demand for electricity 
E) remove its lighting,turn off its fans,and economize on its use of electricity

Question 15

A new-task buy ________.

Accepted Answer

A) requires less time and effort than a modified rebuy 
B) cannot be used if the buyer uses single sourcing 
C) is characterized by uncertainty and high risk 
D) is similar to routine decision making in the consumer market 
E) begins with a SWOT analysis 
A) requires less time and effort than a modified rebuy 
B) cannot be used if the buyer uses single sourcing 
C) is characterized by uncertainty and high risk 
D) is similar to routine decision making in the consumer market 
E) begins with a SWOT analysis

Question 16

Which member of the buying center typically has the most power?

Accepted Answer

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

Question 17

Suppliers are more likely to stay price competitive when the purchasing company uses single sourcing than when it uses multiple sourcing.

Accepted Answer

A) True 
 B)False

Question 18

________ is made up of the values,beliefs,customs,and tastes produced or practiced by a group of people.

Accepted Answer

A) The family life cycle 
B) Culture 
C) Lifestyle 
D) Psychographic data 
E) Social class 
A) The family life cycle 
B) Culture 
C) Lifestyle 
D) Psychographic data 
E) Social class

Question 19

Which of the following is the simplest form of B2B e-commerce?

Accepted Answer

A) online catalogs 
B) reciprocal sites 
C) intranets 
D) extranets 
E) private exchanges 
A) online catalogs 
B) reciprocal sites 
C) intranets 
D) extranets 
E) private exchanges

Question 20

When a business needs to make a complex purchase,it is most likely to form a buying center during the ________ stage of the business buying decision process.

Accepted Answer

A) problem recognition 
B) vendor analysis 
C) information search 
D) supplier selection 
E) alternative evaluation 
A) problem recognition 
B) vendor analysis 
C) information search 
D) supplier selection 
E) alternative evaluation

Organizational markets differ from consumer markets in that organizational markets ________.

Sometimes supplier selection is based on ________,which means a buyer and a seller agree to purchase each other's goods and services even though the terms of the sales may not be the best available.

Brand loyalty in the product choice step of the consumer decision-making process is an example of a ________.

Fluctuating demand in business markets can be partially explained by the infrequency of the purchases.

How does reverse marketing work?

________ is the knowing component of attitudes.It is the beliefs or knowledge a person has about a product and its important characteristics.

refers to how positive a person's is.

Tri Restaurant,Inc.is the parent company of three chains of restaurants.How might Tri Restaurant,Inc.utilize the company extranet?

Identify two postpurchase evaluation metrics that may be used in the B2B buying process.

The major categories of business-to-business customers are ________.

Consumer satisfaction/dissatisfaction is part of the ________ step of the consumer decision-making process.

Which of the following refers to the extent to which a person devotes mental-processing activity to a particular stimulus?

A Miami restaurant has created atmosphere through its subtle use of blue and green lighting,ceiling fans over each table,and frozen drinks.If its electrical energy supplier raises its prices,the restaurant will most likely ________.

A new-task buy ________.

Which member of the buying center typically has the most power?

Suppliers are more likely to stay price competitive when the purchasing company uses single sourcing than when it uses multiple sourcing.

________ is made up of the values,beliefs,customs,and tastes produced or practiced by a group of people.

Which of the following is the simplest form of B2B e-commerce?

When a business needs to make a complex purchase,it is most likely to form a buying center during the ________ stage of the business buying decision process.

Welcome to the World of Marketing

Global, ethical, and Sustainable Marketing

Strategic Market Planning

Market Research

Marketing Analytics: Welcome to the Era of Big Data

Segmentation,target Marketing,and Positioning

Innovation and New Product Development

Product II: Product Strategy,branding,and Product Management

Price: What Is the Value Proposition Worth

Deliver Value Through Supply Chain Management,channels of Distribution,and Logistics

Delivering the Customer Experience: Bricks and Clicks

Promotion I: Advertising and Sales Promotion

Promotion II: Social Media, directdatabase Marketing, personal Selling, and Public Relations

Filters

Exam 6: Understand Consumer and Business Markets

Organizational markets differ from consumer markets in that organizational markets ________.

Sometimes supplier selection is based on ________,which means a buyer and a seller agree to purchase each other's goods and services even though the terms of the sales may not be the best available.

Brand loyalty in the product choice step of the consumer decision-making process is an example of a ________.

Fluctuating demand in business markets can be partially explained by the infrequency of the purchases.

How does reverse marketing work?

________ is the knowing component of attitudes.It is the beliefs or knowledge a person has about a product and its important characteristics.

________ refers to how positive a person's ________ is.

Tri Restaurant,Inc.is the parent company of three chains of restaurants.How might Tri Restaurant,Inc.utilize the company extranet?

Identify two postpurchase evaluation metrics that may be used in the B2B buying process.

The major categories of business-to-business customers are ________.

Consumer satisfaction/dissatisfaction is part of the ________ step of the consumer decision-making process.

Which of the following refers to the extent to which a person devotes mental-processing activity to a particular stimulus?

A Miami restaurant has created atmosphere through its subtle use of blue and green lighting,ceiling fans over each table,and frozen drinks.If its electrical energy supplier raises its prices,the restaurant will most likely ________.

A new-task buy ________.

Which member of the buying center typically has the most power?

Suppliers are more likely to stay price competitive when the purchasing company uses single sourcing than when it uses multiple sourcing.

________ is made up of the values,beliefs,customs,and tastes produced or practiced by a group of people.

Which of the following is the simplest form of B2B e-commerce?

When a business needs to make a complex purchase,it is most likely to form a buying center during the ________ stage of the business buying decision process.

Welcome to the World of Marketing

Global, ethical, and Sustainable Marketing

Strategic Market Planning

Market Research

Marketing Analytics: Welcome to the Era of Big Data

Segmentation,target Marketing,and Positioning

Innovation and New Product Development

Product II: Product Strategy,branding,and Product Management

Price: What Is the Value Proposition Worth

Deliver Value Through Supply Chain Management,channels of Distribution,and Logistics

Delivering the Customer Experience: Bricks and Clicks

Promotion I: Advertising and Sales Promotion

Promotion II: Social Media, directdatabase Marketing, personal Selling, and Public Relations

Filters

refers to how positive a person's is.