Exam 7: Business Marketing

Briefly define and describe each of the categories of business goods and services.Give two specific examples of goods or services that fit into each category.

A decline in the availability of bicycle handle bars will decrease Huffy Bicycle Company's production of bicycles.Decreased production in turn reduces Huffy's demand for bicycle seats.This is because the products in this situation have _____ demand.

If a business needs a particular good or service and decides to look among its own customers for a provider of that good or service,the business is:

A product is defined as a business product rather than a consumer good on the basis of its:

The reseller market is the same as the retailer market.

Explain the four ways demand in business markets differs from demand in consumer markets.

Discuss how institutional customers differ from other types of business customers such as producers or resellers.Give two points of differentiation.

If DuPont runs advertisements encouraging people to buy clothing that contains Lycra (a DuPont product),this would be an attempt to influence secondary demand.

When demand for a product is _____,an increase or decrease in the price of the product will not significantly affect demand for the product.

_____ are consumable,inexpensive,and often standardized items that do not become part of the final product.

NAICS is an industry classification system used by most nations of the world.

For a product to be called a business product,it must be used to manufacture other products,become part of another product,or aid the normal operations of an organization.

No-Glut is a small company that manufactures several gluten-free products for consumers who cannot digest this substance.For this manufacturer,rice flour,which will be used in its manufacturing process,is a(n)

Claxton Fruitcakes One common Christmas tradition in many households is the Claxton fruitcake.The fruitcake bakery in Claxton,Georgia,makes about 6 million pounds of fruitcake annually and has $12 million in sales.One fruitcake batch weighs 375 pounds.About 70 percent of that weight is fruits and nuts.A single batch is divided into 34 loaf pans that hold 11 pounds each.Loaves are cooked for 100 minutes at 375 degrees.The bakery can cook 6,000 pounds at a time.During the baking season (August-December),the bakery uses a tractor-trailer load of raisins each day.The suggested retail price of a one-pound Claxton fruitcake is $3.69. -Refer to Claxton Fruitcakes.Any company that purchased Claxton fruitcakes to give to its customers would treat this purchase like any other purchase and evaluate the cake and the company in terms of:

_____ is the marketing of goods and services to individuals and organizations for purposes other than personal consumption.

Major equipment goods,such as machines,mainframe computers,and buildings are also referred to as:

When two or more items are used in combination to produce a final product,they are said to have _____ demand.

Before toll-free telephone numbers and the Internet were used as commercial tools,fliers usually purchased airline tickets from travel agents.Travel agents no longer receive a commission from the airlines for selling tickets to consumers.This is an example of:

Ed Rodney works for the state of Minnesota as a advocate of state growth and development.He devises ways to encourage businesses to relocate to the state.In other words,Rodney is involved in business marketing.He is compiling a list of potential businesses that might be willing to move their operations to Minnesota.Which of the following possible clients should he include in his list?

TruColor Printers has purchased a Heidelberg printing press with auto-blanket wash and chilled rollers for $2.2 million.The company will depreciate the value of the printing press over several years.The printing press would be considered: