Question 1

The more digits in a North American Industry Classification System code,the less homogeneous a group will be.

Accepted Answer

A) True 
 B)False

Question 2

In the context of business products,major equipment:

Accepted Answer

A) ​is marketed by local industrial distributors. 
B) is sold through a longer distribution channel than accessory equipment. 
C) is often custom designed for each customer according to requirements. 
D) ​is less expensive and shorter-lived than accessory equipment. 
A) ​is marketed by local industrial distributors. 
B) is sold through a longer distribution channel than accessory equipment. 
C) is often custom designed for each customer according to requirements. 
D) ​is less expensive and shorter-lived than accessory equipment.

Question 3

_____ refers to the phenomenon in which a small increase or decrease in consumer demand can produce a much larger change in demand for the facilities and equipment needed to make the consumer product.

Accepted Answer

A) ​The multiplier effect 
B) Reciprocity 
C) The conversion rate 
D) ​Frequency 
A) ​The multiplier effect 
B) Reciprocity 
C) The conversion rate 
D) ​Frequency

Question 4

Which of the following statements is true of raw materials used as business products?

Accepted Answer

A) ​Promotion of raw materials is almost always promoted via mass advertising. 
B) They are usually sold in large quantities. 
C) Individual producers have great flexibility in the pricing of raw materials. 
D) ​They are finished items ready for assembly. 
A) ​Promotion of raw materials is almost always promoted via mass advertising. 
B) They are usually sold in large quantities. 
C) Individual producers have great flexibility in the pricing of raw materials. 
D) ​They are finished items ready for assembly.

Question 5

Which of the following characteristics distinguishes business products from consumer products?

Accepted Answer

A) ​Physical form 
B) Intended use 
C) Distribution method 
D) ​Price 
A) ​Physical form 
B) Intended use 
C) Distribution method 
D) ​Price

Question 6

The goal of business-to-business exchanges is to simplify business purchasing and to make it more efficient.

Accepted Answer

A) True 
 B)False

Question 7

In a buying center,the person who has the formal or informal power to choose or approve the selection of a supplier or brand is known as the _____.

Accepted Answer

A) ​decider 
B) purchaser 
C) gatekeeper 
D) ​initiator 
A) ​decider 
B) purchaser 
C) gatekeeper 
D) ​initiator

Question 8

In the context of categories of business customers,describe the role of resellers.

Accepted Answer

Answers will vary.The reseller market in

Question 9

Tamery Corp.is engaged in marketing various goods and services.It buys goods from various manufacturers and sells them to businesses and end consumers.Given this information,Tamery Corp.is said to be selling consumer products if:

Accepted Answer

A) ​it sells books to students. 
B) it sells spare parts to automobile manufacturers. 
C) it sells laptops to a hotel. 
D) ​it sells printers to a partnership firm. 
A) ​it sells books to students. 
B) it sells spare parts to automobile manufacturers. 
C) it sells laptops to a hotel. 
D) ​it sells printers to a partnership firm.

Question 10

Which of the following is a similarity between raw materials and component parts?

Accepted Answer

A) ​Both fail to retain their identity in final products. 
B) Both become part of a final product. 
C) Both are unprocessed extractive products. 
D) ​Both are more expensive than major equipment. 
A) ​Both fail to retain their identity in final products. 
B) Both become part of a final product. 
C) Both are unprocessed extractive products. 
D) ​Both are more expensive than major equipment.

Question 11

Explain the distribution structure followed in business markets.

Accepted Answer

Answers will vary.Many consumer products

Question 12

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 13

Fluctuating demand is the demand for two or more items used together in a final product.

Accepted Answer

A) True 
 B)False

Question 14

_____ are goods,such as portable drills and computer software,which are less expensive and shorter-lived than installations.

Accepted Answer

A) ​Component parts 
B) Major equipment 
C) Raw materials 
D) ​Accessory equipment 
A) ​Component parts 
B) Major equipment 
C) Raw materials 
D) ​Accessory equipment

Question 15

The segment of the business market that seeks to achieve goals other than the standard business goals of profit,market share,and return on investment consists of _____.

Accepted Answer

A) ​institutions 
B) resellers 
C) producers 
D) ​manufacturers 
A) ​institutions 
B) resellers 
C) producers 
D) ​manufacturers

Question 16

Which of the following is a difference between supplies and business services?

Accepted Answer

A) ​Supplies are consumable items, whereas business services are expense items. 
B) Supplies are more expensive compared to other business goods, whereas business services are economical. 
C) Supplies are part of a final product, whereas business services do not become part of a final product. 
D) ​Supplies are custom designed for each customer, whereas business services are normally standardized. 
A) ​Supplies are consumable items, whereas business services are expense items. 
B) Supplies are more expensive compared to other business goods, whereas business services are economical. 
C) Supplies are part of a final product, whereas business services do not become part of a final product. 
D) ​Supplies are custom designed for each customer, whereas business services are normally standardized.

Question 17

Vactin Corp.,a construction company,buys ten truckloads of cement for its new construction 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) ​unsought product 
A) consumer product​ 
B) service product 
C) industrial product 
D) ​unsought product

Question 18

Leo buys 500 sheets of paper from a vendor for his printing firm.He is satisfied with the product,and he orders the same quantity from the same vendor every week.This is most likely an example of a(n)_____.

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 19

Discuss the importance of customer service in business marketing.

Accepted Answer

Answers will vary.Business marketers are

Question 20

Unlike buyers in business markets,buyers in consumer markets tend to:

Accepted Answer

A) ​be insensitive to price. 
B) generate less stable demand trends. 
C) approach purchasing more informally. 
D) ​involve more people in a single purchase decision. 
A) ​be insensitive to price. 
B) generate less stable demand trends. 
C) approach purchasing more informally. 
D) ​involve more people in a single purchase decision.

The more digits in a North American Industry Classification System code,the less homogeneous a group will be.

In the context of business products,major equipment:

_____ refers to the phenomenon in which a small increase or decrease in consumer demand can produce a much larger change in demand for the facilities and equipment needed to make the consumer product.

Which of the following statements is true of raw materials used as business products?

Which of the following characteristics distinguishes business products from consumer products?

The goal of business-to-business exchanges is to simplify business purchasing and to make it more efficient.

In a buying center,the person who has the formal or informal power to choose or approve the selection of a supplier or brand is known as the _____.

In the context of categories of business customers,describe the role of resellers.

Tamery Corp.is engaged in marketing various goods and services.It buys goods from various manufacturers and sells them to businesses and end consumers.Given this information,Tamery Corp.is said to be selling consumer products if:

Which of the following is a similarity between raw materials and component parts?

Explain the distribution structure followed in business markets.

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.

Fluctuating demand is the demand for two or more items used together in a final product.

_____ are goods,such as portable drills and computer software,which are less expensive and shorter-lived than installations.

The segment of the business market that seeks to achieve goals other than the standard business goals of profit,market share,and return on investment consists of _____.

Which of the following is a difference between supplies and business services?

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

Leo buys 500 sheets of paper from a vendor for his printing firm.He is satisfied with the product,and he orders the same quantity from the same vendor every week.This is most likely an example of a(n)_____.

Discuss the importance of customer service in business marketing.

Unlike buyers in business markets,buyers in consumer markets tend to:

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

The more digits in a North American Industry Classification System code,the less homogeneous a group will be.

In the context of business products,major equipment:

_____ refers to the phenomenon in which a small increase or decrease in consumer demand can produce a much larger change in demand for the facilities and equipment needed to make the consumer product.

Which of the following statements is true of raw materials used as business products?

Which of the following characteristics distinguishes business products from consumer products?

The goal of business-to-business exchanges is to simplify business purchasing and to make it more efficient.

In a buying center,the person who has the formal or informal power to choose or approve the selection of a supplier or brand is known as the _____.

In the context of categories of business customers,describe the role of resellers.

Tamery Corp.is engaged in marketing various goods and services.It buys goods from various manufacturers and sells them to businesses and end consumers.Given this information,Tamery Corp.is said to be selling consumer products if:

Which of the following is a similarity between raw materials and component parts?

Explain the distribution structure followed in business markets.

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.

Fluctuating demand is the demand for two or more items used together in a final product.

_____ are goods,such as portable drills and computer software,which are less expensive and shorter-lived than installations.

The segment of the business market that seeks to achieve goals other than the standard business goals of profit,market share,and return on investment consists of _____.

Which of the following is a difference between supplies and business services?

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

Leo buys 500 sheets of paper from a vendor for his printing firm.He is satisfied with the product,and he orders the same quantity from the same vendor every week.This is most likely an example of a(n)_____.

Discuss the importance of customer service in business marketing.

Unlike buyers in business markets,buyers in consumer markets tend to:

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