Question 1

Vactin Corp.,a construction company,buys ten truckloads of cement for its new project.Given this information,the cement bought is an example of a(n)_____.

Accepted Answer

A)  consumer product 
B)  service product 
C)  industrial product 
D)  manufacture product 
A)  consumer product 
B)  service product 
C)  industrial product 
D)  manufacture product

Question 2

Providing superior service to a firm's most valuable customers is likely to result in a maximization of the total business value generated over time.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following is true regarding the number of customers in business markets?

Accepted Answer

A)  Business marketers have many more customers than consumer marketers. 
B)  It is lot easier for business marketers to identify prospective buyers,monitor current customers' needs and levels of satisfaction. 
C)  It becomes impossible for business marketers to attend to each customer in their markets. 
D)  The main advantage for business marketers is that each customer becomes crucial-especially for those manufacturers that have only one customer. 
A)  Business marketers have many more customers than consumer marketers. 
B)  It is lot easier for business marketers to identify prospective buyers,monitor current customers' needs and levels of satisfaction. 
C)  It becomes impossible for business marketers to attend to each customer in their markets. 
D)  The main advantage for business marketers is that each customer becomes crucial-especially for those manufacturers that have only one customer.

Question 4

Which of the following statements is true of MRO (maintenance,repair,or operating)supplies?

Accepted Answer

A)  They become part of a final product. 
B)  They are intangible business products. 
C)  They are relatively expensive when compared to other business products. 
D)  They are normally standardized items that purchasing agents routinely buy. 
A)  They become part of a final product. 
B)  They are intangible business products. 
C)  They are relatively expensive when compared to other business products. 
D)  They are normally standardized items that purchasing agents routinely buy.

Question 5

Schools,hospitals,colleges and universities,churches,labor unions,fraternal organizations,civic clubs,foundations,and other so-called nonbusiness organizations are the components of which business market segment?

Accepted Answer

A)  Federal government 
B)  Producers 
C)  Institutions 
D)  State,county,and city government 
A)  Federal government 
B)  Producers 
C)  Institutions 
D)  State,county,and city government

Question 6

The U.S.federal government buys goods and services valued at more than $875 billion per year,making it the world's largest customer.

Accepted Answer

A) True 
 B)False

Question 7

The manager of TruColor Printers Inc.has purchased a sophisticated printing press for $1 million.Which of the following statements is most likely to be true about the printing press?

Accepted Answer

A)  It will depreciate over its useful life. 
B)  It will be charged as an expense in the year it is bought. 
C)  It will be purchased by the customers through higher prices. 
D)  It will be bought through retailers. 
A)  It will depreciate over its useful life. 
B)  It will be charged as an expense in the year it is bought. 
C)  It will be purchased by the customers through higher prices. 
D)  It will be bought through retailers.

Question 8

Which of the following statements is true of buyers in consumer markets versus buyers in business markets?

Accepted Answer

A)  Buyers in consumer markets tend to be insensitive to price,while buyers in business markets are very particular about price. 
B)  Buyer demand for consumer products in consumer markets is less stable than buyer demand for business products in business markets. 
C)  Buyers in consumer markets approach purchasing more informally,while buyers in business markets approach purchasing more formally. 
D)  Buyers in consumer markets involve more people in a single purchase decision,while buyers in business markets involve less people in a single purchase decision. 
A)  Buyers in consumer markets tend to be insensitive to price,while buyers in business markets are very particular about price. 
B)  Buyer demand for consumer products in consumer markets is less stable than buyer demand for business products in business markets. 
C)  Buyers in consumer markets approach purchasing more informally,while buyers in business markets approach purchasing more formally. 
D)  Buyers in consumer markets involve more people in a single purchase decision,while buyers in business markets involve less people in a single purchase decision.

Question 9

Which of the following statements is true of business marketing?

Accepted Answer

A)  It refers to the sale of goods and services for the purpose of personal consumption. 
B)  It deals with products that are used to facilitate an organization's operations. 
C)  It has long and indirect channels of distribution. 
D)  It includes selling stationeries to students. 
A)  It refers to the sale of goods and services for the purpose of personal consumption. 
B)  It deals with products that are used to facilitate an organization's operations. 
C)  It has long and indirect channels of distribution. 
D)  It includes selling stationeries to students.

Question 10

Which of the following statements is true of accessory equipment?

Accepted Answer

A)  It includes goods such as large or expensive machines and mainframe computers. 
B)  It includes goods such as portable drills,power tools,and microcomputers. 
C)  It includes goods such as lubricants,detergents,paper towels,pencils,and paper. 
D)  It includes goods such as spark plugs,tires,and electric motors for automobiles. 
A)  It includes goods such as large or expensive machines and mainframe computers. 
B)  It includes goods such as portable drills,power tools,and microcomputers. 
C)  It includes goods such as lubricants,detergents,paper towels,pencils,and paper. 
D)  It includes goods such as spark plugs,tires,and electric motors for automobiles.

Question 11

In social media marketing,awareness occurs when action is taken by a business or individual consumer that includes everything from downloading a piece of content (like a white paper)to actually making a purchase.

Accepted Answer

A) True 
 B)False

Question 12

Which statement is true of business markets?

Accepted Answer

A)  Products or services are sold for personal consumption. 
B)  Goods sold in consumer markets are not sold in business markets. 
C)  One customer can account for a huge volume of purchases. 
D)  Relationship marketing is given the least importance. 
A)  Products or services are sold for personal consumption. 
B)  Goods sold in consumer markets are not sold in business markets. 
C)  One customer can account for a huge volume of purchases. 
D)  Relationship marketing is given the least importance.

Question 13

_____ exists when one party has confidence in an exchange partner's reliability and integrity.

Accepted Answer

A)  Obeya 
B)  Trust 
C)  Keiretsu 
D)  Commitment 
A)  Obeya 
B)  Trust 
C)  Keiretsu 
D)  Commitment

Question 14

Which statement is true of new software applications being developed every year that provide customer information?

Accepted Answer

A)  These apps can help lower costs,increase supply chain efficiency,or enhance customer retention,loyalty,and trust. 
B)  Many business customers do not depend on these applications for marketing. 
C)  Business marketing does not require vigilant adjustment to keep track of new applications and platforms. 
D)  New applications are rarely developed for providing additional details of customers. 
A)  These apps can help lower costs,increase supply chain efficiency,or enhance customer retention,loyalty,and trust. 
B)  Many business customers do not depend on these applications for marketing. 
C)  Business marketing does not require vigilant adjustment to keep track of new applications and platforms. 
D)  New applications are rarely developed for providing additional details of customers.

Question 15

In a buying center,the decider is the person who actually negotiates a purchase.

Accepted Answer

A) True 
 B)False

Question 16

An advantage of business markets having fewer customers in comparison with consumer markets is that it

Accepted Answer

A)  reduces the attention required to be given to customers. 
B)  makes it easy to identify prospective buyers. 
C)  reduces the dependency on distributors for product delivery. 
D)  increases product diversity. 
A)  reduces the attention required to be given to customers. 
B)  makes it easy to identify prospective buyers. 
C)  reduces the dependency on distributors for product delivery. 
D)  increases product diversity.

Question 17

This category of the business market often carries thousands of items in stock and employs sales forces to call on business customers.Who are they?

Accepted Answer

A)  Resellers 
B)  Producers 
C)  Distributors 
D)  Governments 
A)  Resellers 
B)  Producers 
C)  Distributors 
D)  Governments

Question 18

A consumer product is also known as an industrial product.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is true of leasing?

Accepted Answer

A)  Businesses normally buy products rather than lease them,even they are very expensive. 
B)  Leasing allows firms to reduce capital outflow,acquire a seller's latest products,receive better services,and gain tax advantages. 
C)  Use of leasing is not encouraged in business markets. 
D)  Manufacturers do not use leasing in their businesses. 
A)  Businesses normally buy products rather than lease them,even they are very expensive. 
B)  Leasing allows firms to reduce capital outflow,acquire a seller's latest products,receive better services,and gain tax advantages. 
C)  Use of leasing is not encouraged in business markets. 
D)  Manufacturers do not use leasing in their businesses.

Question 20

Intix Inc.is a manufacturer of mother boards for computer systems,which sells its product to the firms which manufacture assembled computers.Which of the following is true in this scenario?

Accepted Answer

A)  A special feature of component parts is that they could not retain their identity after becoming part of the final product. 
B)  The finished items are ready for assembly or are products that need very little processing before becoming part of some other product. 
C)  The goods which are less expensive and shorter lived than major equipment. 
D)  The expense items that do not become part of a final product. 
A)  A special feature of component parts is that they could not retain their identity after becoming part of the final product. 
B)  The finished items are ready for assembly or are products that need very little processing before becoming part of some other product. 
C)  The goods which are less expensive and shorter lived than major equipment. 
D)  The expense items that do not become part of a final product.

Vactin Corp.,a construction company,buys ten truckloads of cement for its new project.Given this information,the cement bought is an example of a(n)_____.

Providing superior service to a firm's most valuable customers is likely to result in a maximization of the total business value generated over time.

Which of the following is true regarding the number of customers in business markets?

Which of the following statements is true of MRO (maintenance,repair,or operating)supplies?

Schools,hospitals,colleges and universities,churches,labor unions,fraternal organizations,civic clubs,foundations,and other so-called nonbusiness organizations are the components of which business market segment?

The U.S.federal government buys goods and services valued at more than $875 billion per year,making it the world's largest customer.

The manager of TruColor Printers Inc.has purchased a sophisticated printing press for $1 million.Which of the following statements is most likely to be true about the printing press?

Which of the following statements is true of buyers in consumer markets versus buyers in business markets?

Which of the following statements is true of business marketing?

Which of the following statements is true of accessory equipment?

In social media marketing,awareness occurs when action is taken by a business or individual consumer that includes everything from downloading a piece of content (like a white paper)to actually making a purchase.

Which statement is true of business markets?

_____ exists when one party has confidence in an exchange partner's reliability and integrity.

Which statement is true of new software applications being developed every year that provide customer information?

In a buying center,the decider is the person who actually negotiates a purchase.

An advantage of business markets having fewer customers in comparison with consumer markets is that it

This category of the business market often carries thousands of items in stock and employs sales forces to call on business customers.Who are they?

A consumer product is also known as an industrial product.

Which of the following is true of leasing?

Intix Inc.is a manufacturer of mother boards for computer systems,which sells its product to the firms which manufacture assembled computers.Which of the following is true in this scenario?

An Overview of Marketing

Strategic Planning and Competitive Advantage

Ethics and Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Segmenting and Targeting Markets

Marketing Research

Product Concepts

Developing and Managing Products

Services and Nonprofit Organization Marketing

Supply Chain Management and Marketing Channels

Retailing

Marketing Communications

Advertising,public Relations,and Sales Promotion

Personal Selling and Sales Management

Social Media and Marketing

Pricing Concepts

Filters

Exam 7: Business Marketing

Vactin Corp.,a construction company,buys ten truckloads of cement for its new project.Given this information,the cement bought is an example of a(n)_____.

Providing superior service to a firm's most valuable customers is likely to result in a maximization of the total business value generated over time.

Which of the following is true regarding the number of customers in business markets?

Which of the following statements is true of MRO (maintenance,repair,or operating)supplies?

Schools,hospitals,colleges and universities,churches,labor unions,fraternal organizations,civic clubs,foundations,and other so-called nonbusiness organizations are the components of which business market segment?

The U.S.federal government buys goods and services valued at more than $875 billion per year,making it the world's largest customer.

The manager of TruColor Printers Inc.has purchased a sophisticated printing press for $1 million.Which of the following statements is most likely to be true about the printing press?

Which of the following statements is true of buyers in consumer markets versus buyers in business markets?

Which of the following statements is true of business marketing?

Which of the following statements is true of accessory equipment?

In social media marketing,awareness occurs when action is taken by a business or individual consumer that includes everything from downloading a piece of content (like a white paper)to actually making a purchase.

Which statement is true of business markets?

_____ exists when one party has confidence in an exchange partner's reliability and integrity.

Which statement is true of new software applications being developed every year that provide customer information?

In a buying center,the decider is the person who actually negotiates a purchase.

An advantage of business markets having fewer customers in comparison with consumer markets is that it

This category of the business market often carries thousands of items in stock and employs sales forces to call on business customers.Who are they?

A consumer product is also known as an industrial product.

Which of the following is true of leasing?

Intix Inc.is a manufacturer of mother boards for computer systems,which sells its product to the firms which manufacture assembled computers.Which of the following is true in this scenario?

An Overview of Marketing

Strategic Planning and Competitive Advantage

Ethics and Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Segmenting and Targeting Markets

Marketing Research

Product Concepts

Developing and Managing Products

Services and Nonprofit Organization Marketing

Supply Chain Management and Marketing Channels

Retailing

Marketing Communications

Advertising,public Relations,and Sales Promotion

Personal Selling and Sales Management

Social Media and Marketing

Pricing Concepts

Filters