Question 1

Which of the following best describes the challenge of identifying participants in international buying centres, compared to domestic buying centres?

Accepted Answer

A)  quite easier to identify 
B)  slightly easier to identify 
C)  same level of difficulty to identify 
D)  more difficult to identify 
A)  quite easier to identify 
B)  slightly easier to identify 
C)  same level of difficulty to identify 
D)  more difficult to identify

Question 2

Geographic concentration of an industry has no effect on the location decisions of the industry's suppliers.

Accepted Answer

A) True 
 B)False

Question 3

What market has the primary motivation of providing some form of public benefit when making a purchase?

Accepted Answer

A)  industrial market 
B)  global market 
C)  government market 
D)  trade industries 
A)  industrial market 
B)  global market 
C)  government market 
D)  trade industries

Question 4

Match each item to the statement or sentence listed below.
a.merchandisers
b.trade industries
c.remanufacturing
d.nearshoring
e.end-use application segmentation
f.global sourcing
g.joint demand
h.inelastic demand
i.outsourcing
j.value analysis
k.gatekeeper
l.commercial market
m.reciprocity
n.vendor analysis
o.category advisor
p.modified rebuy
q.demographic characteristics-based segmentation
r.influencers
s.buyer
t.customer-based segmentation
-The _____ is the largest segment of the business market that includes all individuals and firms that acquire products to support the production of other goods and services.

Accepted Answer

The answer of Match each item to the statement or...

Question 5

The buying centre concept explains how groups of people participate informally in business purchase decisions. What else does the buying centre concept explain?

Accepted Answer

A)  methods to break through group perceptions 
B)  roles group members play in making the decisions 
C)  formation dynamics of new groups of decision makers 
D)  way family units operate as buying centres 
A)  methods to break through group perceptions 
B)  roles group members play in making the decisions 
C)  formation dynamics of new groups of decision makers 
D)  way family units operate as buying centres

Question 6

What do most businesses expect when they enter the marketplace to buy goods and services?

Accepted Answer

A)  to enjoy a high level of customer service 
B)  to locate vendors through the Yellow Pages 
C)  to find standard items that will fill their needs 
D)  to make quick purchasing decisions 
A)  to enjoy a high level of customer service 
B)  to locate vendors through the Yellow Pages 
C)  to find standard items that will fill their needs 
D)  to make quick purchasing decisions

Question 7

Volatile demand means that even slight shifts or variations in the market can have an effect on sales.

Accepted Answer

A) True 
 B)False

Question 8

Value analysis is a continuous process of evaluating the cost of doing business with a particular buying unit. Suppliers must ensure they are receiving adequate benefits from the time invested in a customer.

Accepted Answer

A) True 
 B)False

Question 9

Why does the government segment of the B2B market most commonly buy products?

Accepted Answer

A)  to resell to the public 
B)  to provide public benefits 
C)  to acquire customized items 
D)  to use domestic sources only 
A)  to resell to the public 
B)  to provide public benefits 
C)  to acquire customized items 
D)  to use domestic sources only

Question 10

Match each item to the statement or sentence listed below.
a.merchandisers
b.trade industries
c.remanufacturing
d.nearshoring
e.end-use application segmentation
f.global sourcing
g.joint demand
h.inelastic demand
i.outsourcing
j.value analysis
k.gatekeeper
l.commercial market
m.reciprocity
n.vendor analysis
o.category advisor
p.modified rebuy
q.demographic characteristics-based segmentation
r.influencers
s.buyer
t.customer-based segmentation
-A(n) _____ is a buying center participant who has the formal authority to select a supplier and to implement the procedures for securing a good or service.

Accepted Answer

The answer of Match each item to the statement or...

Question 11

What step in the business buying process involves establishing specifications for a required product?

Accepted Answer

A)  recognizing a need 
B)  describing product characteristics 
C)  qualifying potential vendors 
D)  selecting an order routine 
A)  recognizing a need 
B)  describing product characteristics 
C)  qualifying potential vendors 
D)  selecting an order routine

Question 12

Personal selling is less important in business markets than in consumer markets because of the longer distribution channels involved.

Accepted Answer

A) True 
 B)False

Question 13

Which statement best describes the institution segment of a B2B market?

Accepted Answer

A)  It often involves rigid purchasing procedures. 
B)  It provides business services to the other members of the market. 
C)  It tends to have greater financial resources than industrial customers. 
D)  It is accountable to their clients and shareholders. 
A)  It often involves rigid purchasing procedures. 
B)  It provides business services to the other members of the market. 
C)  It tends to have greater financial resources than industrial customers. 
D)  It is accountable to their clients and shareholders.

Question 14

What is outsourcing? Why do firms outsource production, and what are some potential drawbacks of outsourcing?

Accepted Answer

Outsourcing is the use of outside vendor

Question 15

Companies that sell products affected by derived demand can avoid the negative effects of downturns by diversifying the markets in which they sell their products.

Accepted Answer

A) True 
 B)False

Question 16

MERX is a privately owned e-tendering service that is used by the federal government, but not by provincial governments.

Accepted Answer

A) True 
 B)False

Question 17

The Internet is intended to replace, not just enhance, personal selling and the traditional relationships between businesses.

Accepted Answer

A) True 
 B)False

Question 18

Dell Computer purchases parts and resources for its computers from suppliers worldwide. What is this practice known as?

Accepted Answer

A)  outsourcing 
B)  global sourcing 
C)  joint demand 
D)  derived demand 
A)  outsourcing 
B)  global sourcing 
C)  joint demand 
D)  derived demand

Question 19

Which statement best describes B2B E-marketing?

Accepted Answer

A)  It cannot be used to provide detailed product descriptions. 
B)  It can help slash order-processing expenses. 
C)  It is a minor part of the e-business activity and typically involves less steps compared to consumer purchases. 
D)  It is not a very attractive option for buying and selling as more errors occur when orders are placed over the Internet. 
A)  It cannot be used to provide detailed product descriptions. 
B)  It can help slash order-processing expenses. 
C)  It is a minor part of the e-business activity and typically involves less steps compared to consumer purchases. 
D)  It is not a very attractive option for buying and selling as more errors occur when orders are placed over the Internet.

Question 20

What is turning to outsiders to provide goods and services that were formerly produced or handled internally known as?

Accepted Answer

A)  outsourcing 
B)  supplier sourcing 
C)  supply-chain management 
D)  external buying 
A)  outsourcing 
B)  supplier sourcing 
C)  supply-chain management 
D)  external buying

Which of the following best describes the challenge of identifying participants in international buying centres, compared to domestic buying centres?

Geographic concentration of an industry has no effect on the location decisions of the industry's suppliers.

What market has the primary motivation of providing some form of public benefit when making a purchase?

The buying centre concept explains how groups of people participate informally in business purchase decisions. What else does the buying centre concept explain?

What do most businesses expect when they enter the marketplace to buy goods and services?

Volatile demand means that even slight shifts or variations in the market can have an effect on sales.

Value analysis is a continuous process of evaluating the cost of doing business with a particular buying unit. Suppliers must ensure they are receiving adequate benefits from the time invested in a customer.

Why does the government segment of the B2B market most commonly buy products?

What step in the business buying process involves establishing specifications for a required product?

Personal selling is less important in business markets than in consumer markets because of the longer distribution channels involved.

Which statement best describes the institution segment of a B2B market?

What is outsourcing? Why do firms outsource production, and what are some potential drawbacks of outsourcing?

Companies that sell products affected by derived demand can avoid the negative effects of downturns by diversifying the markets in which they sell their products.

MERX is a privately owned e-tendering service that is used by the federal government, but not by provincial governments.

The Internet is intended to replace, not just enhance, personal selling and the traditional relationships between businesses.

Dell Computer purchases parts and resources for its computers from suppliers worldwide. What is this practice known as?

Which statement best describes B2B E-marketing?

What is turning to outsiders to provide goods and services that were formerly produced or handled internally known as?

Marketing: the Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

Digital Marketing and Social Media: Living in the Connected World

Consumer Behaviour

Serving Global Markets

Marketing Research, Decision Support Systems, and Sales Forecasting

Marketing Segmentation, Targeting, and Positioning

Product and Service Strategies

Developing and Managing Brand and Product Strategies

Marketing Channels and Supply Chain Management

Retailers, Wholesalers, and Direct Marketers

Integrated Marketing Communications, Advertising, and Digital Communications

Personal Selling and Sales Promotion

Pricing Concepts and Strategies

Relationship Marketing and Customer Relationship Management CRM

Filters

Exam 6: Business-To-Business B2b Marketing

Which of the following best describes the challenge of identifying participants in international buying centres, compared to domestic buying centres?

Geographic concentration of an industry has no effect on the location decisions of the industry's suppliers.

What market has the primary motivation of providing some form of public benefit when making a purchase?

The buying centre concept explains how groups of people participate informally in business purchase decisions. What else does the buying centre concept explain?

What do most businesses expect when they enter the marketplace to buy goods and services?

Volatile demand means that even slight shifts or variations in the market can have an effect on sales.

Value analysis is a continuous process of evaluating the cost of doing business with a particular buying unit. Suppliers must ensure they are receiving adequate benefits from the time invested in a customer.

Why does the government segment of the B2B market most commonly buy products?

What step in the business buying process involves establishing specifications for a required product?

Personal selling is less important in business markets than in consumer markets because of the longer distribution channels involved.

Which statement best describes the institution segment of a B2B market?

What is outsourcing? Why do firms outsource production, and what are some potential drawbacks of outsourcing?

Companies that sell products affected by derived demand can avoid the negative effects of downturns by diversifying the markets in which they sell their products.

MERX is a privately owned e-tendering service that is used by the federal government, but not by provincial governments.

The Internet is intended to replace, not just enhance, personal selling and the traditional relationships between businesses.

Dell Computer purchases parts and resources for its computers from suppliers worldwide. What is this practice known as?

Which statement best describes B2B E-marketing?

What is turning to outsiders to provide goods and services that were formerly produced or handled internally known as?

Marketing: the Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

Digital Marketing and Social Media: Living in the Connected World

Consumer Behaviour

Serving Global Markets

Marketing Research, Decision Support Systems, and Sales Forecasting

Marketing Segmentation, Targeting, and Positioning

Product and Service Strategies

Developing and Managing Brand and Product Strategies

Marketing Channels and Supply Chain Management

Retailers, Wholesalers, and Direct Marketers

Integrated Marketing Communications, Advertising, and Digital Communications

Personal Selling and Sales Promotion

Pricing Concepts and Strategies

Relationship Marketing and Customer Relationship Management CRM

Filters