Question 1

When a business seeks to solve its problems by purchasing a packaged solution from a single seller, this is known as:

Accepted Answer

A)  systems buying. 
B)  business partnering. 
C)  strategic alliance. 
D)  joint venture. 
E)  none of the above 
A)  systems buying. 
B)  business partnering. 
C)  strategic alliance. 
D)  joint venture. 
E)  none of the above A

Question 2

Identify the major members of a buying centre and briefly discuss their roles. What challenges does this concept raise for the marketer?

Accepted Answer

The buying centre is composed of all those individuals and groups who participate in the purchase decision- making process, who share some common goals and the risks arising from the decisions made. Users are organisational members who will actually use the item purchased; they may initiate the process and help define specifications. Influencers are often technical specialists who affect the buying decision by defining specifications and providing information for the evaluation of alternatives. Buyers have formal authority to select vendors and arrange terms. While they may help shape specifications, their major roles are vendor selection and negotiation. Deciders have the formal or informal power to select or approve final vendors. Gatekeepers control the flow of information and, perhaps, access to other members of the buying unit. Marketers must identify the persons involved in the decisions and determine which decisions they affect. The relative influence of each member must be determined and the evaluation criteria used by each member must be known. Gatekeepers, if they can be "cultivated," can provide this information.

Question 3

When total demand is not much affected by price changes, this is known as:

Accepted Answer

A)  J- curve demand. 
B)  non- fluctuating demand. 
C)  derived demand. 
D)  price inelasticity. 
E)  price elasticity. 
A)  J- curve demand. 
B)  non- fluctuating demand. 
C)  derived demand. 
D)  price inelasticity. 
E)  price elasticity. D

Question 4

Interest rates, trends in demand and technological change are all examples of______ influences on business buyers.

Accepted Answer

A)  organisational 
B)  entrepreneurial 
C)  environmental 
D)  political 
E)  social 
A)  organisational 
B)  entrepreneurial 
C)  environmental 
D)  political 
E)  social

Question 5

As the buyer for his firm, John Adams makes the final decision in all purchase situations.

Accepted Answer

A) True 
 B)False

Question 6

The reseller market is BEST described as the market consisting of:

Accepted Answer

A)  all the individuals and organisations acquiring goods and services used in the production of other goods and services. 
B)  all the individuals and organisations that acquire goods for the purpose of reselling or renting them to others, usually at a profit. 
C)  government units at all levels-federal, state and local government-that purchase or rent goods used in carrying out their functions. 
D)  schools, hospitals, nursing homes, prisons, and other institutions that provide goods and services to people in their care. 
E)  all the individuals and organisations acquiring goods and services for use in not- for- profit activities. 
A)  all the individuals and organisations acquiring goods and services used in the production of other goods and services. 
B)  all the individuals and organisations that acquire goods for the purpose of reselling or renting them to others, usually at a profit. 
C)  government units at all levels-federal, state and local government-that purchase or rent goods used in carrying out their functions. 
D)  schools, hospitals, nursing homes, prisons, and other institutions that provide goods and services to people in their care. 
E)  all the individuals and organisations acquiring goods and services for use in not- for- profit activities.

Question 7

Beatrice runs a small gardening supplies retail outlet. She is looking for store fixtures that are durable, easy to clean and portable. She attended the 2003 Store Fixtures Trade Show and asked several of her colleagues for recommendations. She is MOST likely to be in which stage of business buying?

Accepted Answer

A)  Problem recognition 
B)  Product specification 
C)  General need description 
D)  Information/supplier search 
E)  Order routine specification 
A)  Problem recognition 
B)  Product specification 
C)  General need description 
D)  Information/supplier search 
E)  Order routine specification

Question 8

Centralised purchasing gives a company greater purchasing power.

Accepted Answer

A) True 
 B)False

Question 9

The type of purchasing decision that carries the greatest cost and risk is known as:

Accepted Answer

A)  systems rebuy. 
B)  new task. 
C)  modified rebuy. 
D)  straight rebuy. 
E)  functional order. 
A)  systems rebuy. 
B)  new task. 
C)  modified rebuy. 
D)  straight rebuy. 
E)  functional order.

Question 10

The business buying process begins with a description of the general need and a product specification sheet.

Accepted Answer

A) True 
 B)False

Question 11

When Lani was calling on a client firm, she found that the design engineer she wanted to see was too busy to meet with her. The engineer's secretary offered to look through Lani's product brochures and pass them on to the engineer if Lani's product was potentially useful. Which role in the buying centre does the secretary have?

Accepted Answer

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

Question 12

In a straight rebuy, the buyer reorders something without any modifications.

Accepted Answer

A) True 
 B)False

Question 13

When responding to a request for a written proposal, a business marketer should remember the document is primarily a technical document explaining the features of the product.

Accepted Answer

A) True 
 B)False

Question 14

Government agencies tend to favour domestic suppliers over foreign suppliers.

Accepted Answer

A) True 
 B)False

Question 15

Wholesalers and retailers are primary customers of those firms to serve which market?

Accepted Answer

A)  Reseller 
B)  Industrial 
C)  Consumer 
D)  Organisational 
E)  Institutional 
A)  Reseller 
B)  Industrial 
C)  Consumer 
D)  Organisational 
E)  Institutional

Question 16

At which stage of the procurement process would a buyer be MOST likely to draw up a list of the desired supplier attributes and their relative importance?

Accepted Answer

A)  Supplier selection 
B)  Order- routine specification 
C)  Information/supplier search 
D)  Product specification 
E)  General need description 
A)  Supplier selection 
B)  Order- routine specification 
C)  Information/supplier search 
D)  Product specification 
E)  General need description

Question 17

The business or industrial market is BEST described as the market consisting of:

Accepted Answer

A)  all the individuals and organisations acquiring goods and services used in the production of other goods and services. 
B)  all the individuals and organisations that acquire goods for the purpose of reselling or renting them to others, usually at a profit. 
C)  government units at all levels-federal, state and local government-that purchase or rent goods used in carrying out their functions. 
D)  schools, hospitals, nursing homes, prisons, and other institutions that provide goods and services to people in their care. 
E)  all the individuals and organisations acquiring goods and services for use in not- for- profit activities. 
A)  all the individuals and organisations acquiring goods and services used in the production of other goods and services. 
B)  all the individuals and organisations that acquire goods for the purpose of reselling or renting them to others, usually at a profit. 
C)  government units at all levels-federal, state and local government-that purchase or rent goods used in carrying out their functions. 
D)  schools, hospitals, nursing homes, prisons, and other institutions that provide goods and services to people in their care. 
E)  all the individuals and organisations acquiring goods and services for use in not- for- profit activities.

Question 18

When an organisation engages a repair and maintenance company to provide services for a fixed period of time and at an agreed price, this is known as:

Accepted Answer

A)  blanket contracting. 
B)  periodic orders. 
C)  strategic alliance. 
D)  vendor managed partnership. 
E)  carpet contracting. 
A)  blanket contracting. 
B)  periodic orders. 
C)  strategic alliance. 
D)  vendor managed partnership. 
E)  carpet contracting.

Question 19

When a company puts its purchasing requests online and invites suppliers to bid for the business, this is known as:

Accepted Answer

A)  periodic orders. 
B)  reverse auction. 
C)  carpet contracting. 
D)  blanket contracting. 
E)  vendor managed partnership. 
A)  periodic orders. 
B)  reverse auction. 
C)  carpet contracting. 
D)  blanket contracting. 
E)  vendor managed partnership.

Question 20

The most routine type of purchase that a company can make is known as:

Accepted Answer

A)  straight rebuy. 
B)  customised order. 
C)  new task. 
D)  systems rebuy. 
E)  modified rebuy. 
A)  straight rebuy. 
B)  customised order. 
C)  new task. 
D)  systems rebuy. 
E)  modified rebuy.

When a business seeks to solve its problems by purchasing a packaged solution from a single seller, this is known as:

Identify the major members of a buying centre and briefly discuss their roles. What challenges does this concept raise for the marketer?

When total demand is not much affected by price changes, this is known as:

Interest rates, trends in demand and technological change are all examples of______ influences on business buyers.

As the buyer for his firm, John Adams makes the final decision in all purchase situations.

The reseller market is BEST described as the market consisting of:

Beatrice runs a small gardening supplies retail outlet. She is looking for store fixtures that are durable, easy to clean and portable. She attended the 2003 Store Fixtures Trade Show and asked several of her colleagues for recommendations. She is MOST likely to be in which stage of business buying?

Centralised purchasing gives a company greater purchasing power.

The type of purchasing decision that carries the greatest cost and risk is known as:

The business buying process begins with a description of the general need and a product specification sheet.

In a straight rebuy, the buyer reorders something without any modifications.

When responding to a request for a written proposal, a business marketer should remember the document is primarily a technical document explaining the features of the product.

Government agencies tend to favour domestic suppliers over foreign suppliers.

Wholesalers and retailers are primary customers of those firms to serve which market?

At which stage of the procurement process would a buyer be MOST likely to draw up a list of the desired supplier attributes and their relative importance?

The business or industrial market is BEST described as the market consisting of:

When an organisation engages a repair and maintenance company to provide services for a fixed period of time and at an agreed price, this is known as:

When a company puts its purchasing requests online and invites suppliers to bid for the business, this is known as:

The most routine type of purchase that a company can make is known as:

Marketing: Creating Superior Customer Value

Marketing: Delivering and Capturing Value

Strategic Planning and Marketing

Marketing Strategies for Competitive Advantage

The Global Marketing Environment

Information Management and Marketing Research

Consumer Behaviour

Market Segmentation, Targeting and Positioning

Products and Services Marketing

New Products

Pricing for Value

Marketing Channels and Logistics Networks

Retailing and Wholesaling

Advertising and Public Relations

Sales Promotion and Selling

Direct and Online Marketing

Tapping Into Markets Across the Globe

Responsible Marketing

Filters

Exam 8: Business-To-Business Behaviour

When a business seeks to solve its problems by purchasing a packaged solution from a single seller, this is known as:

Identify the major members of a buying centre and briefly discuss their roles. What challenges does this concept raise for the marketer?

When total demand is not much affected by price changes, this is known as:

Interest rates, trends in demand and technological change are all examples of______ influences on business buyers.

As the buyer for his firm, John Adams makes the final decision in all purchase situations.

The reseller market is BEST described as the market consisting of:

Centralised purchasing gives a company greater purchasing power.

The type of purchasing decision that carries the greatest cost and risk is known as:

The business buying process begins with a description of the general need and a product specification sheet.

In a straight rebuy, the buyer reorders something without any modifications.

When responding to a request for a written proposal, a business marketer should remember the document is primarily a technical document explaining the features of the product.

Government agencies tend to favour domestic suppliers over foreign suppliers.

Wholesalers and retailers are primary customers of those firms to serve which market?

At which stage of the procurement process would a buyer be MOST likely to draw up a list of the desired supplier attributes and their relative importance?

The business or industrial market is BEST described as the market consisting of:

When an organisation engages a repair and maintenance company to provide services for a fixed period of time and at an agreed price, this is known as:

When a company puts its purchasing requests online and invites suppliers to bid for the business, this is known as:

The most routine type of purchase that a company can make is known as:

Marketing: Creating Superior Customer Value

Marketing: Delivering and Capturing Value

Strategic Planning and Marketing

Marketing Strategies for Competitive Advantage

The Global Marketing Environment

Information Management and Marketing Research

Consumer Behaviour

Market Segmentation, Targeting and Positioning

Products and Services Marketing

New Products

Pricing for Value

Marketing Channels and Logistics Networks

Retailing and Wholesaling

Advertising and Public Relations

Sales Promotion and Selling

Direct and Online Marketing

Tapping Into Markets Across the Globe

Responsible Marketing

Filters