Question 1

Personal needs motivate the behavior of individuals,but organizational needs legitimate the buying-decision process and its outcomes.

Accepted Answer

A) True 
 B)False

Question 2

The business marketer normally deals with ________ buyers than the consumer marketer does.

Accepted Answer

A)  more and larger 
B)  more and smaller 
C)  fewer and larger 
D)  fewer and smaller 
E)  the same number of 
A)  more and larger 
B)  more and smaller 
C)  fewer and larger 
D)  fewer and smaller 
E)  the same number of

Question 3

Most purchasing professionals describe their jobs as more ________,technical,team oriented,and involving more responsibility than ever before.

Accepted Answer

A)  risky 
B)  strategic 
C)  ethically difficult 
D)  Web based 
E)  human based 
A)  risky 
B)  strategic 
C)  ethically difficult 
D)  Web based 
E)  human based

Question 4

In order to successfully develop customer reference stories,firms should ________.

Accepted Answer

A)  state the customer's needs in compelling terms 
B)  use very few direct customer quotes 
C)  avoid referencing the barriers to satisfying customer needs 
D)  describe the company's solution in terms of products and services 
E)  focus on qualitative results 
A)  state the customer's needs in compelling terms 
B)  use very few direct customer quotes 
C)  avoid referencing the barriers to satisfying customer needs 
D)  describe the company's solution in terms of products and services 
E)  focus on qualitative results

Question 5

Users perform all seven roles in the buying center because of their direct tie to the product and what it is supposed to do.

Accepted Answer

A) True 
 B)False

Question 6

In the business market,small sellers concentrate on reaching as many participants as possible because their chances of success are slim.

Accepted Answer

A) True 
 B)False

Question 7

Your organization is considering selling its products to the institutional market.What type of customers will you be making your appeals to Give specific examples.

Accepted Answer

The institutional market consi

Question 8

In systems buying,the U.S.government often solicits bids from prime contractors.What do prime contractors do

Accepted Answer

The government solicits bids from prime

Question 9

The business market is essentially the same thing as the consumer market.

Accepted Answer

A) True 
 B)False

Question 10

A new-task buyclass decision begins with which of the following buyphases

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 11

Vertical coordination may increase the risk to consumer's and supplier's ________ (e.g.,those expenditures tailored to a particular company and value chain partner).

Accepted Answer

A)  logistics channel 
B)  independent operations 
C)  specific investments 
D)  leverage ability 
E)  liquidity situation 
A)  logistics channel 
B)  independent operations 
C)  specific investments 
D)  leverage ability 
E)  liquidity situation

Question 12

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

Accepted Answer

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

Question 13

Minority suppliers are the fastest-growing segment of today's business landscape,reflecting the importance of supplier diversity to business buyers.

Accepted Answer

A) True 
 B)False

Question 14

Illustrate the differences between a straight rebuy,modified rebuy,and a new-task purchase.

Accepted Answer

In a straight rebuy,the purchasing depar

Question 15

Systems selling is a key industrial marketing strategy in bidding to build large-scale industrial projects.Competition for these projects is fierce.What are the main areas of competition for these project engineering firms

Accepted Answer

Primary competitive

Question 16

In most countries,________ are the major buyers of goods and services.

Accepted Answer

A)  consumer packaged-goods companies 
B)  government organizations 
C)  health services vendors 
D)  educational institutions 
E)  households 
A)  consumer packaged-goods companies 
B)  government organizations 
C)  health services vendors 
D)  educational institutions 
E)  households

Question 17

If you decided to go into the systems contracting business,which of the following categories would constitute your main area of expertise,the service you provide for customers

Accepted Answer

A)  Computer applications 
B)  Database management 
C)  Manufacturing 
D)  Promotion management 
E)  MRO (maintenance, repair, operating) supplies 
A)  Computer applications 
B)  Database management 
C)  Manufacturing 
D)  Promotion management 
E)  MRO (maintenance, repair, operating) supplies

Question 18

Assume that you have been given the task of assessing customer value at your organization.Further,you have been instructed to use the "compositional approach" to make this assessment.Describe what you would do if you used the compositional approach in assessing customer value.

Accepted Answer

In the compositional approach,customers

Question 19

The Tuxax Company has decided that handling price-oriented buyers can be profitable under certain conditions.Conditions that would make good sense for Tuxax Company would be all of the following EXCEPT ________.

Accepted Answer

A)  limiting the quantity that can be purchased 
B)  no services 
C)  no adjustments 
D)  no refunds 
E)  no packaging or crating 
A)  limiting the quantity that can be purchased 
B)  no services 
C)  no adjustments 
D)  no refunds 
E)  no packaging or crating

Question 20

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

Accepted Answer

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

Exam 7: Analyzing Business Markets

Personal needs motivate the behavior of individuals,but organizational needs legitimate the buying-decision process and its outcomes.

The business marketer normally deals with ________ buyers than the consumer marketer does.

Most purchasing professionals describe their jobs as more ________,technical,team oriented,and involving more responsibility than ever before.

In order to successfully develop customer reference stories,firms should ________.

Users perform all seven roles in the buying center because of their direct tie to the product and what it is supposed to do.

In the business market,small sellers concentrate on reaching as many participants as possible because their chances of success are slim.

Your organization is considering selling its products to the institutional market.What type of customers will you be making your appeals to Give specific examples.

In systems buying,the U.S.government often solicits bids from prime contractors.What do prime contractors do

The business market is essentially the same thing as the consumer market.

A new-task buyclass decision begins with which of the following buyphases

Vertical coordination may increase the risk to consumer's and supplier's ________ (e.g.,those expenditures tailored to a particular company and value chain partner).

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

Minority suppliers are the fastest-growing segment of today's business landscape,reflecting the importance of supplier diversity to business buyers.

Illustrate the differences between a straight rebuy,modified rebuy,and a new-task purchase.

Systems selling is a key industrial marketing strategy in bidding to build large-scale industrial projects.Competition for these projects is fierce.What are the main areas of competition for these project engineering firms

In most countries,________ are the major buyers of goods and services.

If you decided to go into the systems contracting business,which of the following categories would constitute your main area of expertise,the service you provide for customers

Assume that you have been given the task of assessing customer value at your organization.Further,you have been instructed to use the "compositional approach" to make this assessment.Describe what you would do if you used the compositional approach in assessing customer value.

The Tuxax Company has decided that handling price-oriented buyers can be profitable under certain conditions.Conditions that would make good sense for Tuxax Company would be all of the following EXCEPT ________.

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

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

Filters