Question 1

Moving into e-procurement involves more buying of substandard goods and a larger purchasing staff.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following methods of assessing customer value asks consumers to rank their preference for alternative market offerings?

Accepted Answer

A)  benchmarks 
B)  conjoint analysis 
C)  internal engineering assessment 
D)  focus-group value assessment 
E)  direct survey questions 
A)  benchmarks 
B)  conjoint analysis 
C)  internal engineering assessment 
D)  focus-group value assessment 
E)  direct survey questions

Question 3

In a system called vendor-managed inventory, companies shift the ordering responsibility to their suppliers.

Accepted Answer

A) True 
 B)False

Question 4

Some companies shift the ordering responsibility to their suppliers in systems called vender-managed inventory (VMI).

Accepted Answer

A) True 
 B)False

Question 5

In the ________ category of buyer-supplier relationship categorization, although bonded by a close, cooperative relationship, the seller adapts to meet the customer's needs without expecting much adaptation or change on the part of the customer in exchange.

Accepted Answer

A)  contractual transaction 
B)  collaborative 
C)  cooperative system 
D)  mutually adaptive 
E)  customer is king 
A)  contractual transaction 
B)  collaborative 
C)  cooperative system 
D)  mutually adaptive 
E)  customer is king

Question 6

In the proposal solicitation process, ________ should be marketing documents that describe value and benefits in customer terms.

Accepted Answer

A)  global proposals 
B)  written proposals 
C)  oral proposals 
D)  e-proposals 
E)  alliance proposals 
A)  global proposals 
B)  written proposals 
C)  oral proposals 
D)  e-proposals 
E)  alliance proposals

Question 7

In reordering office supplies, the only stages that the buyer passes through are the product specification stage and the ________ stage.

Accepted Answer

A)  problem recognition 
B)  performance review 
C)  general need description 
D)  order-routine specification 
E)  supplier search 
A)  problem recognition 
B)  performance review 
C)  general need description 
D)  order-routine specification 
E)  supplier search

Question 8

Jason Riggs's company is considered to be an in-supplier for a lawn mower manufacturer. However, recently the lawn mower company has put out a memo to in- and out-suppliers indicating that it would like to modify product specifications and delivery schedules. Which of the following buying situations is most likely to be in operation given the data above?

Accepted Answer

A)  elastic rebuy 
B)  flatten rebuy 
C)  modified rebuy 
D)  straight rebuy 
E)  fluctuating rebuy 
A)  elastic rebuy 
B)  flatten rebuy 
C)  modified rebuy 
D)  straight rebuy 
E)  fluctuating rebuy

Question 9

The fate of Goodyear Tire Company depends on getting contracts from a few major automakers. This illustrates which characteristic of the business market?

Accepted Answer

A)  fewer larger buyers 
B)  geographically concentrated buyers 
C)  multiple sales calls 
D)  close supplier-customer relationship 
E)  professional purchasing 
A)  fewer larger buyers 
B)  geographically concentrated buyers 
C)  multiple sales calls 
D)  close supplier-customer relationship 
E)  professional purchasing

Question 10

Companies that fear a shortage of key materials are willing to buy and hold large inventories. As a customer you would want a supplier who can guarantee

Accepted Answer

A)  the lowest price and routine ordering. 
B)  minimization of total cost. 
C)  co-development programs. 
D)  a steady supply of materials.. 
E)  strategic alliances. 
A)  the lowest price and routine ordering. 
B)  minimization of total cost. 
C)  co-development programs. 
D)  a steady supply of materials.. 
E)  strategic alliances.

Question 11

The total demand for many business goods and services is not much affected by price changes. Thus, this demand is ________.

Accepted Answer

A)  derived 
B)  fluctuating 
C)  inelastic 
D)  accelerated 
E)  multiple 
A)  derived 
B)  fluctuating 
C)  inelastic 
D)  accelerated 
E)  multiple

Question 12

Specialized website (called e-hub) like plastics.com allows plastics buyers to search the best prices among thousands of plastics sellers. Plastics.com is an example of a(n) ________.

Accepted Answer

A)  buying alliance 
B)  vertical market 
C)  barter market 
D)  systems seller 
E)  auction site 
A)  buying alliance 
B)  vertical market 
C)  barter market 
D)  systems seller 
E)  auction site

Question 13

W.W. Grainger employees work at large customer facilities to reduce materials-management costs. Which of the following forms of solution selling is W.W. Grainger using?

Accepted Answer

A)  solutions to reduce customer costs. 
B)  solutions to alter corporate culture. 
C)  solutions to enhance customer revenues. 
D)  solutions to decrease customer risks. 
E)  solutions to partnerships. 
A)  solutions to reduce customer costs. 
B)  solutions to alter corporate culture. 
C)  solutions to enhance customer revenues. 
D)  solutions to decrease customer risks. 
E)  solutions to partnerships.

Question 14

Business marketers can stimulate problem recognition by

Accepted Answer

A)  direct mail, telemarketing, and calling on prospects. 
B)  requesting testimonials from existing customers. 
C)  encouraging the Better Business Bureau to release statistics. 
D)  consumer advertising. 
E)  trade directories. 
A)  direct mail, telemarketing, and calling on prospects. 
B)  requesting testimonials from existing customers. 
C)  encouraging the Better Business Bureau to release statistics. 
D)  consumer advertising. 
E)  trade directories.

Question 15

You have been hired by a project engineering firm to help them with their bid to build large-scale industrial projects. Considering the fierce competition, why type of seeding should they use as their strategy and what will be the main areas of competition?

Accepted Answer

Systems selling is a key industrial mark

Question 16

At Caterpillar, purchasing, inventory control, production scheduling, and traffic have been combined into one department.

Accepted Answer

A) True 
 B)False

Question 17

A good illustration of a member of the institutional market would be Boeing because it is a member of the aviation institution structure.

Accepted Answer

A) True 
 B)False

Question 18

On its ________ General Electric posts requests for proposals, negotiates terms, and places orders.

Accepted Answer

A)  direct e-procurement page 
B)  company buying site 
C)  consumer web site 
D)  direct extranet links to major suppliers 
E)  buying alliances 
A)  direct e-procurement page 
B)  company buying site 
C)  consumer web site 
D)  direct extranet links to major suppliers 
E)  buying alliances

Question 19

Business organizations do not only sell, they also buy vast quantities of materials, components, equipment, supplies, and services. Choose a business organization in any of the major industries that make up the business market to explain how more dollars and items are involved in sales to business buyers than to consumers.

Accepted Answer

The major industries making up the busin

Question 20

One guideline for selling to small business recommends assigning one point of contact for all service problems. This relates to the suggestion to

Accepted Answer

A)  provide support after the sale. 
B)  not lump small and midsize business together. 
C)  keep it simple. 
D)  do your homework. 
E)  use the Internet 
A)  provide support after the sale. 
B)  not lump small and midsize business together. 
C)  keep it simple. 
D)  do your homework. 
E)  use the Internet

Moving into e-procurement involves more buying of substandard goods and a larger purchasing staff.

Which of the following methods of assessing customer value asks consumers to rank their preference for alternative market offerings?

In a system called vendor-managed inventory, companies shift the ordering responsibility to their suppliers.

Some companies shift the ordering responsibility to their suppliers in systems called vender-managed inventory (VMI).

In the ________ category of buyer-supplier relationship categorization, although bonded by a close, cooperative relationship, the seller adapts to meet the customer's needs without expecting much adaptation or change on the part of the customer in exchange.

In the proposal solicitation process, ________ should be marketing documents that describe value and benefits in customer terms.

In reordering office supplies, the only stages that the buyer passes through are the product specification stage and the ________ stage.

The fate of Goodyear Tire Company depends on getting contracts from a few major automakers. This illustrates which characteristic of the business market?

Companies that fear a shortage of key materials are willing to buy and hold large inventories. As a customer you would want a supplier who can guarantee

The total demand for many business goods and services is not much affected by price changes. Thus, this demand is ________.

Specialized website (called e-hub) like plastics.com allows plastics buyers to search the best prices among thousands of plastics sellers. Plastics.com is an example of a(n) ________.

W.W. Grainger employees work at large customer facilities to reduce materials-management costs. Which of the following forms of solution selling is W.W. Grainger using?

Business marketers can stimulate problem recognition by

You have been hired by a project engineering firm to help them with their bid to build large-scale industrial projects. Considering the fierce competition, why type of seeding should they use as their strategy and what will be the main areas of competition?

At Caterpillar, purchasing, inventory control, production scheduling, and traffic have been combined into one department.

A good illustration of a member of the institutional market would be Boeing because it is a member of the aviation institution structure.

On its ________ General Electric posts requests for proposals, negotiates terms, and places orders.

One guideline for selling to small business recommends assigning one point of contact for all service problems. This relates to the suggestion to

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long term Loyalty Relationships

Analyzing Consumer Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Position

Competitive Dynamics

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Personal Communications: Direct and Interactive Marketing, Word of Mouth, and Personal Selling

Introducing New Marketing Offerings

Tapping into Global Markets

Managing a Holistic Marketing Organization

Filters

Exam 7: Analyzing Business Markets

Moving into e-procurement involves more buying of substandard goods and a larger purchasing staff.

Which of the following methods of assessing customer value asks consumers to rank their preference for alternative market offerings?

In a system called vendor-managed inventory, companies shift the ordering responsibility to their suppliers.

Some companies shift the ordering responsibility to their suppliers in systems called vender-managed inventory (VMI).

In the ________ category of buyer-supplier relationship categorization, although bonded by a close, cooperative relationship, the seller adapts to meet the customer's needs without expecting much adaptation or change on the part of the customer in exchange.

In the proposal solicitation process, ________ should be marketing documents that describe value and benefits in customer terms.

In reordering office supplies, the only stages that the buyer passes through are the product specification stage and the ________ stage.

The fate of Goodyear Tire Company depends on getting contracts from a few major automakers. This illustrates which characteristic of the business market?

Companies that fear a shortage of key materials are willing to buy and hold large inventories. As a customer you would want a supplier who can guarantee

The total demand for many business goods and services is not much affected by price changes. Thus, this demand is ________.

Specialized website (called e-hub) like plastics.com allows plastics buyers to search the best prices among thousands of plastics sellers. Plastics.com is an example of a(n) ________.

W.W. Grainger employees work at large customer facilities to reduce materials-management costs. Which of the following forms of solution selling is W.W. Grainger using?

Business marketers can stimulate problem recognition by

You have been hired by a project engineering firm to help them with their bid to build large-scale industrial projects. Considering the fierce competition, why type of seeding should they use as their strategy and what will be the main areas of competition?

At Caterpillar, purchasing, inventory control, production scheduling, and traffic have been combined into one department.

A good illustration of a member of the institutional market would be Boeing because it is a member of the aviation institution structure.

On its ________ General Electric posts requests for proposals, negotiates terms, and places orders.

One guideline for selling to small business recommends assigning one point of contact for all service problems. This relates to the suggestion to

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long term Loyalty Relationships

Analyzing Consumer Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Position

Competitive Dynamics

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Personal Communications: Direct and Interactive Marketing, Word of Mouth, and Personal Selling

Introducing New Marketing Offerings

Tapping into Global Markets

Managing a Holistic Marketing Organization

Filters