Question 1

A practice whereby business purchasers choose to buy from customers of their competitors is called reciprocity.

Accepted Answer

A) True 
 B)False  False

Question 2

Seth,an administrative manager at Seal Inc.,is asked to purchase ten printers for the firm's office.He contacts a sales representative at Myro Distributors and places an order for ten printers.Myro Distributors purchases the printers from Ink Corp.,a wholesaler,and delivers them to Seth at his office.In this scenario,Myro Distributors is most likely to be a(n)_____.

Accepted Answer

A) ​producer 
B) retailer 
C) institution 
D) ​manufacturer 
A) ​producer 
B) retailer 
C) institution 
D) ​manufacturer B

Question 3

According to the categories of business products,_____ are expense items that do not become part of a final product.

Accepted Answer

A) ​raw materials 
B) MRO supplies 
C) component parts 
D) ​business services 
A) ​raw materials 
B) MRO supplies 
C) component parts 
D) ​business services D

Question 4

Casca Paints Inc.,a manufacturer of paints and emulsions,owns a user-friendly Web site.The Web site allows customers to upload pictures of their house and select the colors that best match their expectations.Donnel Designs Inc.,an interior decoration firm,enters into a partnership with Casca Paints Inc.As a result,customers can now get a complete interior design solution for their houses.This is an example of a _____.

Accepted Answer

A) ​straight rebuy 
B) golden handshake 
C) negative inventory 
D) ​strategic alliance 
A) ​straight rebuy 
B) golden handshake 
C) negative inventory 
D) ​strategic alliance

Question 5

Nutrimax Cookies Inc.buys around three tons of raw materials every year.If the demand for its cookies increases next year,the company might need to buy more raw materials to meet the demand.This illustrates _____.

Accepted Answer

A) ​inelastic demand 
B) joint demand 
C) elastic demand 
D) ​fluctuating demand 
A) ​inelastic demand 
B) joint demand 
C) elastic demand 
D) ​fluctuating demand

Question 6

Items such as forklifts are more commonly sold as consumer goods than as business products.

Accepted Answer

A) True 
 B)False

Question 7

Derived demand means that an increase or decrease in the price of the product will significantly affect demand for the product.

Accepted Answer

A) True 
 B)False

Question 8

A product can be sold both as a consumer good and business product.

Accepted Answer

A) True 
 B)False

Question 9

In the business market,_____.

Accepted Answer

A) ​products or services are sold for personal consumption 
B) goods that are sold in consumer markets are not sold 
C) a single customer can account for a huge volume of purchases 
D) ​relationship marketing is given least importance 
A) ​products or services are sold for personal consumption 
B) goods that are sold in consumer markets are not sold 
C) a single customer can account for a huge volume of purchases 
D) ​relationship marketing is given least importance

Question 10

Line Twists Inc.is a start-up dance company.On its Web site,it conducts an online competition for amateur dancers.It asks people to post one sentence on why they love to dance.Thousands of people participate and comment on the Web site.In the context of business-to-business social media marketing,this step taken by Line Twists Inc.is an example of the marketing metric of _____.

Accepted Answer

A) ​product adaptation 
B) engagement 
C) conversion 
D) ​review 
A) ​product adaptation 
B) engagement 
C) conversion 
D) ​review

Question 11

Which of the following statements is true of relationship marketing?

Accepted Answer

A) ​For many suppliers, retaining their current customers has become a secondary focus in relationship marketing. 
B) Business suppliers use social networking sites sparingly as these sites discourage businesses from shopping for all their needs. 
C) Loyal customers are less profitable than those who are price sensitive and perceive no difference among brands or suppliers. 
D) ​Relationship marketing has become more important than before because competition is becoming more intense. 
A) ​For many suppliers, retaining their current customers has become a secondary focus in relationship marketing. 
B) Business suppliers use social networking sites sparingly as these sites discourage businesses from shopping for all their needs. 
C) Loyal customers are less profitable than those who are price sensitive and perceive no difference among brands or suppliers. 
D) ​Relationship marketing has become more important than before because competition is becoming more intense.

Question 12

At Magnira Corp.,a company that manufactures fruit preserves,fruits of excellent quality are used to make jams,jellies,and marmalades.In this scenario,the fruits are examples of _____.

Accepted Answer

A) ​raw materials 
B) component parts 
C) MRO items 
D) ​business services 
A) ​raw materials 
B) component parts 
C) MRO items 
D) ​business services

Question 13

In the context of business relationships in Japan,which of the following best defines the term amae?

Accepted Answer

A) ​It is the feeling of nurturing concern for, and dependence upon, another. 
B) It is the lack of motivation among employees in businesses. 
C) It is a legal consolidation and collaboration of companies into a single entity. 
D) ​It is the lack of economic competition in the market. 
A) ​It is the feeling of nurturing concern for, and dependence upon, another. 
B) It is the lack of motivation among employees in businesses. 
C) It is a legal consolidation and collaboration of companies into a single entity. 
D) ​It is the lack of economic competition in the market.

Question 14

In a(n)_____ situation,a purchaser wants some change in the original good or service.

Accepted Answer

A) ​initiation buy 
B) straight rebuy 
C) new buy 
D) ​modified rebuy 
A) ​initiation buy 
B) straight rebuy 
C) new buy 
D) ​modified rebuy

Question 15

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

Accepted Answer

A) True 
 B)False

Question 16

A _____ is used to manufacture other goods or services,to facilitate an organization's operations,or to resell to other customers.

Accepted Answer

A) ​consumer product 
B) shopping product 
C) business product 
D) ​convenience product 
A) ​consumer product 
B) shopping product 
C) business product 
D) ​convenience product

Question 17

Having fewer customers in business markets in comparison with consumer markets:

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 18

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

Accepted Answer

A) True 
 B)False

Question 19

C-Through,an optics-manufacturing company,wants to focus on relationship marketing.In this case,which of the following strategies can be adopted by C-Through?

Accepted Answer

A) ​It can use social networking sites to advertise itself to businesses. 
B) It can market its products through dealers. 
C) It can set the price and other conditions of sale without negotiation. 
D) ​It can use accessory equipment and major equipment. 
A) ​It can use social networking sites to advertise itself to businesses. 
B) It can market its products through dealers. 
C) It can set the price and other conditions of sale without negotiation. 
D) ​It can use accessory equipment and major equipment.

Question 20

Which of the following is a difference between component parts and supplies?

Accepted Answer

A) ​Component parts require extensive processing before they become part of another product, whereas supplies do not. 
B) Component parts are consumable items, whereas supplies are finished items. 
C) Component parts become part of a final product, whereas supplies do not. 
D) ​Component parts are inexpensive when compared to other business products, whereas supplies are expensive. 
A) ​Component parts require extensive processing before they become part of another product, whereas supplies do not. 
B) Component parts are consumable items, whereas supplies are finished items. 
C) Component parts become part of a final product, whereas supplies do not. 
D) ​Component parts are inexpensive when compared to other business products, whereas supplies are expensive.

A practice whereby business purchasers choose to buy from customers of their competitors is called reciprocity.

According to the categories of business products,_____ are expense items that do not become part of a final product.

Nutrimax Cookies Inc.buys around three tons of raw materials every year.If the demand for its cookies increases next year,the company might need to buy more raw materials to meet the demand.This illustrates _____.

Items such as forklifts are more commonly sold as consumer goods than as business products.

Derived demand means that an increase or decrease in the price of the product will significantly affect demand for the product.

A product can be sold both as a consumer good and business product.

In the business market,_____.

Which of the following statements is true of relationship marketing?

At Magnira Corp.,a company that manufactures fruit preserves,fruits of excellent quality are used to make jams,jellies,and marmalades.In this scenario,the fruits are examples of _____.

In the context of business relationships in Japan,which of the following best defines the term amae?

In a(n)_____ situation,a purchaser wants some change in the original good or service.

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

A _____ is used to manufacture other goods or services,to facilitate an organization's operations,or to resell to other customers.

Having fewer customers in business markets in comparison with consumer markets:

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

C-Through,an optics-manufacturing company,wants to focus on relationship marketing.In this case,which of the following strategies can be adopted by C-Through?

Which of the following is a difference between component parts and supplies?

An Overview of Marketing

Strategic Planning for 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

A practice whereby business purchasers choose to buy from customers of their competitors is called reciprocity.

According to the categories of business products,_____ are expense items that do not become part of a final product.

Nutrimax Cookies Inc.buys around three tons of raw materials every year.If the demand for its cookies increases next year,the company might need to buy more raw materials to meet the demand.This illustrates _____.

Items such as forklifts are more commonly sold as consumer goods than as business products.

Derived demand means that an increase or decrease in the price of the product will significantly affect demand for the product.

A product can be sold both as a consumer good and business product.

In the business market,_____.

Which of the following statements is true of relationship marketing?

At Magnira Corp.,a company that manufactures fruit preserves,fruits of excellent quality are used to make jams,jellies,and marmalades.In this scenario,the fruits are examples of _____.

In the context of business relationships in Japan,which of the following best defines the term amae?

In a(n)_____ situation,a purchaser wants some change in the original good or service.

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

A _____ is used to manufacture other goods or services,to facilitate an organization's operations,or to resell to other customers.

Having fewer customers in business markets in comparison with consumer markets:

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

C-Through,an optics-manufacturing company,wants to focus on relationship marketing.In this case,which of the following strategies can be adopted by C-Through?

Which of the following is a difference between component parts and supplies?

An Overview of Marketing

Strategic Planning for 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