Question 1

Business marketers can stimulate problem recognition by ________.

Accepted Answer

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

Question 2

The ________ approach to consumer research asks customers to attach a monetary value to alternative levels of a given attribute.The value of a given configuration is determined by adding the average values of each of the given attributes.

Accepted Answer

A)  benchmarking 
B)  compositional 
C)  importance rating 
D)  focus-group 
E)  conjoint analysis 
A)  benchmarking 
B)  compositional 
C)  importance rating 
D)  focus-group 
E)  conjoint analysis

Question 3

When purchasing disposable surgical gowns,Mercy Hospital's vice president of purchasing analyzes whether the hospital should buy disposable gowns or reusable gowns.If the findings favor disposable gowns,then the operating-room administrator compares various competitors' products and prices and makes a choice.Surgeons influence the decision retroactively by reporting their satisfaction with the particular brand.In this situation,the operating-room administrator performs the role of the ________.

Accepted Answer

A)  decider 
B)  initiator 
C)  user 
D)  gatekeeper 
E)  influencer 
A)  decider 
B)  initiator 
C)  user 
D)  gatekeeper 
E)  influencer

Question 4

Explain the concept of derived demand.

Accepted Answer

The demand for business goods is ultimat

Question 5

The demand for business goods is ultimately derived from the demand for ________.

Accepted Answer

A)  raw materials 
B)  consumer goods 
C)  electronics 
D)  business solutions 
E)  e-commerce 
A)  raw materials 
B)  consumer goods 
C)  electronics 
D)  business solutions 
E)  e-commerce

Question 6

All of the following would be among the major industries that make up the business market EXCEPT ________.

Accepted Answer

A)  agriculture, forestry, and fisheries 
B)  manufacturing 
C)  construction 
D)  banking, finance, and insurance 
E)  the Internet 
A)  agriculture, forestry, and fisheries 
B)  manufacturing 
C)  construction 
D)  banking, finance, and insurance 
E)  the Internet

Question 7

All of the following are considered to be guidelines for selling to small businesses EXCEPT ________.

Accepted Answer

A)  do not use the Internet 
B)  do keep it simple 
C)  don't lump small and midsize businesses together 
D)  don't forget about direct contact 
E)  do provide support after the sale 
A)  do not use the Internet 
B)  do keep it simple 
C)  don't lump small and midsize businesses together 
D)  don't forget about direct contact 
E)  do provide support after the sale

Question 8

Systems selling is a key industrial marketing strategy in bidding to build large-scale industrial projects such as dams or pipelines.

Accepted Answer

A) True 
 B)False

Question 9

There are a series of guidelines for selling to small businesses.Which of the following should NOT be among those guidelines

Accepted Answer

A)  Don't waste their time. 
B)  Do keep it simple. 
C)  Do use the Internet. 
D)  Don't forget about direct contact. 
E)  Do lump small and midsize businesses together for efficiency sake. 
A)  Don't waste their time. 
B)  Do keep it simple. 
C)  Do use the Internet. 
D)  Don't forget about direct contact. 
E)  Do lump small and midsize businesses together for efficiency sake.

Question 10

Contracts are always sufficient to govern supplier transactions and prevent supplier opportunism.

Accepted Answer

A) True 
 B)False

Question 11

The new,more strategically oriented purchasing departments have a mission.Which of the following most accurately describes that mission

Accepted Answer

A)  Make the most profit possible and remain independent of entanglements. 
B)  Approach every purchasing opportunity as means to create interdependency. 
C)  Seek the best value from fewer and better suppliers. 
D)  Outsource the supply function. 
E)  Abandon all strategies except for systems selling and buying. 
A)  Make the most profit possible and remain independent of entanglements. 
B)  Approach every purchasing opportunity as means to create interdependency. 
C)  Seek the best value from fewer and better suppliers. 
D)  Outsource the supply function. 
E)  Abandon all strategies except for systems selling and buying.

Question 12

In the buygrid framework model,where the major stages of the industrial buying process are listed and characterized,supplier selection is an important process.What follows supplier selection and what occurs in this phase

Accepted Answer

The step that follows supplier selection

Question 13

Business markets have several characteristics that contrast sharply with those of consumer markets.Name and briefly characterize five of those characteristics.

Accepted Answer

The characteristics are: (1)fewer,larger

Question 14

Today,purchasing departments occupy a relatively low position in the management hierarchy and answer primarily to the vice-president of marketing.

Accepted Answer

A) True 
 B)False

Question 15

Webster and Wind define ________ as the decision-making process by which formal organizations establish the need for purchased products and services and identify,evaluate,and choose among alternative brands and suppliers.

Accepted Answer

A)  marketing channels 
B)  organizational buying 
C)  demand-oriented buying 
D)  purchasing 
E)  inventory control 
A)  marketing channels 
B)  organizational buying 
C)  demand-oriented buying 
D)  purchasing 
E)  inventory control

Question 16

Sellers benefit from systems contracting through lower operating costs as a result of steady demand and reduced paperwork.

Accepted Answer

A) True 
 B)False

Question 17

All of the following are methods of assessing customer value EXCEPT ________.

Accepted Answer

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

Question 18

Define organizational buying.

Accepted Answer

Organizational buying is the decision-ma

Question 19

The business buyer faces many decisions in making a purchase.The number of decisions depends on the buying situation.All of the following contribute to the number of decisions required EXCEPT the ________.

Accepted Answer

A)  complexity of the problem being solved 
B)  newness of the buying requirement 
C)  number of people involved 
D)  applicability of situation to mission statement 
E)  time required 
A)  complexity of the problem being solved 
B)  newness of the buying requirement 
C)  number of people involved 
D)  applicability of situation to mission statement 
E)  time required

Question 20

Many firms depend on the opinions and experiences of others in evaluating a new business proposal from a new company.Identify five keys to successfully developing customer reference stories to respond to these demands.

Accepted Answer

Students may choose five of the followin

Exam 7: Analyzing Business Markets

Business marketers can stimulate problem recognition by ________.

The ________ approach to consumer research asks customers to attach a monetary value to alternative levels of a given attribute.The value of a given configuration is determined by adding the average values of each of the given attributes.

Explain the concept of derived demand.

The demand for business goods is ultimately derived from the demand for ________.

All of the following would be among the major industries that make up the business market EXCEPT ________.

All of the following are considered to be guidelines for selling to small businesses EXCEPT ________.

Systems selling is a key industrial marketing strategy in bidding to build large-scale industrial projects such as dams or pipelines.

There are a series of guidelines for selling to small businesses.Which of the following should NOT be among those guidelines

Contracts are always sufficient to govern supplier transactions and prevent supplier opportunism.

The new,more strategically oriented purchasing departments have a mission.Which of the following most accurately describes that mission

In the buygrid framework model,where the major stages of the industrial buying process are listed and characterized,supplier selection is an important process.What follows supplier selection and what occurs in this phase

Business markets have several characteristics that contrast sharply with those of consumer markets.Name and briefly characterize five of those characteristics.

Today,purchasing departments occupy a relatively low position in the management hierarchy and answer primarily to the vice-president of marketing.

Webster and Wind define ________ as the decision-making process by which formal organizations establish the need for purchased products and services and identify,evaluate,and choose among alternative brands and suppliers.

Sellers benefit from systems contracting through lower operating costs as a result of steady demand and reduced paperwork.

All of the following are methods of assessing customer value EXCEPT ________.

Define organizational buying.

The business buyer faces many decisions in making a purchase.The number of decisions depends on the buying situation.All of the following contribute to the number of decisions required EXCEPT the ________.

Many firms depend on the opinions and experiences of others in evaluating a new business proposal from a new company.Identify five keys to successfully developing customer reference stories to respond to these demands.

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