Question 1

The total demand for many business goods and services is inelastic-that is,not much affected by price changes.

Accepted Answer

A) True 
 B)False  True

Question 2

Orica Ltd.competes in the market for commercial explosives and recently changed its business model to the management of an entire blast in a quarry,selling contracts for "broken rock," rather than just selling explosives.This customer-solution-based approach to the sale of explosives is an example of ________.

Accepted Answer

A)  systems selling 
B)  straight rebuying 
C)  customer referencing 
D)  derived demand 
E)  channel consolidation 
A)  systems selling 
B)  straight rebuying 
C)  customer referencing 
D)  derived demand 
E)  channel consolidation A

Question 3

Which of the following methods may be used by buyers to review the performance of chosen suppliers

Accepted Answer

A)  The buyer may contact the end users and ask for their evaluations. 
B)  The buyer may rate the supplier on several criteria using a weighted-score method. 
C)  The buyer might aggregate the cost of poor performance to come up with adjusted costs of purchase, including price. 
D)  All of the above 
E)  None of the above 
A)  The buyer may contact the end users and ask for their evaluations. 
B)  The buyer may rate the supplier on several criteria using a weighted-score method. 
C)  The buyer might aggregate the cost of poor performance to come up with adjusted costs of purchase, including price. 
D)  All of the above 
E)  None of the above D

Question 4

Robinson and his associates have identified eight stages and called them buyphases.This model is called the ________ framework.

Accepted Answer

A)  buygrid 
B)  buying/selling 
C)  seller-centered 
D)  commercial 
E)  buy-analysis 
A)  buygrid 
B)  buying/selling 
C)  seller-centered 
D)  commercial 
E)  buy-analysis

Question 5

Describe the practices of systems buying and systems contracting.

Accepted Answer

Systems buying involves buying a total s

Question 6

Small sellers should concentrate their marketing efforts on reaching ________.

Accepted Answer

A)  approvers 
B)  initiators 
C)  key buying influencers 
D)  users 
E)  the purchasing staff 
A)  approvers 
B)  initiators 
C)  key buying influencers 
D)  users 
E)  the purchasing staff

Question 7

As a seller in the business market,you have promised your customers that you have corporate credibility as one of your corporate goals.What three factors will have some bearing on whether you will be able to meet your goal and promise

Accepted Answer

The three factors are: (1)corporate expe

Question 8

Several major companies regard ________ as a major responsibility of their purchasing managers.

Accepted Answer

A)  forming networks for future business 
B)  assuring quality conformance 
C)  being fair with all parties 
D)  using a team approach in negotiations 
E)  long-term supply planning 
A)  forming networks for future business 
B)  assuring quality conformance 
C)  being fair with all parties 
D)  using a team approach in negotiations 
E)  long-term supply planning

Question 9

The buying process begins when someone places an order with a sales representative.

Accepted Answer

A) True 
 B)False

Question 10

The relationship between an company and its office supplies vendor is probably best described as ________.

Accepted Answer

A)  basic buying and selling 
B)  contractual transaction 
C)  collaborative 
D)  customer supply 
E)  customer is king 
A)  basic buying and selling 
B)  contractual transaction 
C)  collaborative 
D)  customer supply 
E)  customer is king

Question 11

One of the problems facing B2B on the Web is that many firms often impose more stringent requirements on their online business partners than they do on non-online partners.

Accepted Answer

A) True 
 B)False

Question 12

Xerox offers a ________ approach to prospective clients when it offers a complete turnkey solution,including the operation and management of the client's information and communication need.

Accepted Answer

A)  supply buying 
B)  primary buying 
C)  systems buying 
D)  co-op buying system 
E)  direct buying 
A)  supply buying 
B)  primary buying 
C)  systems buying 
D)  co-op buying system 
E)  direct buying

Question 13

One of the forms of solution selling is to provide solutions to enhance customer revenues.

Accepted Answer

A) True 
 B)False

Question 14

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

Accepted Answer

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

Question 15

The first step (buyphase)in the straight rebuy buyclass is ________.

Accepted Answer

A)  problem recognition 
B)  general need description 
C)  product specification 
D)  supplier search 
E)  proposal solicitation 
A)  problem recognition 
B)  general need description 
C)  product specification 
D)  supplier search 
E)  proposal solicitation

Question 16

Today,all companies that sell to the U.S.government use a marketing orientation because of the special relationship required.

Accepted Answer

A) True 
 B)False

Question 17

Many business buyers prefer to buy a total solution to a problem from one seller.________ is the correct term for this process.

Accepted Answer

A)  Channel consolidation 
B)  Systems buying 
C)  Vertical buying 
D)  Horizontal buying 
E)  Supply buying 
A)  Channel consolidation 
B)  Systems buying 
C)  Vertical buying 
D)  Horizontal buying 
E)  Supply buying

Question 18

In general,buyers review the product and its price rather than any other considerations about the seller as a buying decision is made.

Accepted Answer

A) True 
 B)False

Question 19

Shoe manufacturers are not going to buy much more leather if the price of leather falls,nor will they buy much less leather if the price rises,unless they can find satisfactory substitutes.This is an example of ________.

Accepted Answer

A)  inelastic demand 
B)  direct purchasing 
C)  the acceleration effect 
D)  derived demand 
E)  a straight rebuy 
A)  inelastic demand 
B)  direct purchasing 
C)  the acceleration effect 
D)  derived demand 
E)  a straight rebuy

Question 20

Identify the five factors affecting partner interdependence and environmental uncertainty that influence the development of a relationship between business partners.

Accepted Answer

The five factors affecting partner inter

Exam 7: Analyzing Business Markets

The total demand for many business goods and services is inelastic-that is,not much affected by price changes.

Which of the following methods may be used by buyers to review the performance of chosen suppliers

Robinson and his associates have identified eight stages and called them buyphases.This model is called the ________ framework.

Describe the practices of systems buying and systems contracting.

Small sellers should concentrate their marketing efforts on reaching ________.

As a seller in the business market,you have promised your customers that you have corporate credibility as one of your corporate goals.What three factors will have some bearing on whether you will be able to meet your goal and promise

Several major companies regard ________ as a major responsibility of their purchasing managers.

The buying process begins when someone places an order with a sales representative.

The relationship between an company and its office supplies vendor is probably best described as ________.

One of the problems facing B2B on the Web is that many firms often impose more stringent requirements on their online business partners than they do on non-online partners.

Xerox offers a ________ approach to prospective clients when it offers a complete turnkey solution,including the operation and management of the client's information and communication need.

One of the forms of solution selling is to provide solutions to enhance customer revenues.

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

The first step (buyphase)in the straight rebuy buyclass is ________.

Today,all companies that sell to the U.S.government use a marketing orientation because of the special relationship required.

Many business buyers prefer to buy a total solution to a problem from one seller.________ is the correct term for this process.

In general,buyers review the product and its price rather than any other considerations about the seller as a buying decision is made.

Shoe manufacturers are not going to buy much more leather if the price of leather falls,nor will they buy much less leather if the price rises,unless they can find satisfactory substitutes.This is an example of ________.

Identify the five factors affecting partner interdependence and environmental uncertainty that influence the development of a relationship between business partners.

Defining Marketing for the 21st Century

Developing Marketing Strategies and Plans

Gathering Information and Scanning the Environment

Conducting Marketing Research and Forecasting Demand

Creating Customer Value, Satisfaction, and Loyalty

Analyzing Consumer Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Dealing with Competition

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications:

Managing Personal Communications:

Introducing New Market Offerings

Tapping into Global Markets

Managing a Holistic Marketing Organization

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