Question 1

Which of the following products will probably reach a vertical business market rather than a horizontal business market?

Accepted Answer

A)  eye goggles 
B)  fax machines 
C)  packaging material 
D)  office furniture 
E)  replacement hip joints 
A)  eye goggles 
B)  fax machines 
C)  packaging material 
D)  office furniture 
E)  replacement hip joints

Question 2

Waldenbooks, Proffit's department store, Lands' End, and PetsMart are all part of the _____ market.

Accepted Answer

The answer of Waldenbooks, Proffit's department store, Lands' End, and...

Question 3

In a typical consumer market, consumers do not buy directly from the producer.

Accepted Answer

A) True 
 B)False

Question 4

If a product being sold by several competing firms is very standardized, the best method for differentiating your firm from the others would be to:

Accepted Answer

A)  offer excellent before and after sale service. 
B)  sell the product in both consumer and business markets. 
C)  bribe the purchasing agent. 
D)  use an indirect channel of distribution. 
E)  promote your product with public relations efforts. 
A)  offer excellent before and after sale service. 
B)  sell the product in both consumer and business markets. 
C)  bribe the purchasing agent. 
D)  use an indirect channel of distribution. 
E)  promote your product with public relations efforts.

Question 5

When Dr. Zane Greene's staff began complaining about how slow his autoclave is when they use it to sterilize dental equipment, he made a couple of phone calls and then ordered the new Vela autoclave because it is the fastest and safest on the market. This purchase is an example of a _____ purchase.

Accepted Answer

A)  straight rebuy 
B)  specialty 
C)  reciprocity 
D)  modified rebuy 
E)  new-task buying 
A)  straight rebuy 
B)  specialty 
C)  reciprocity 
D)  modified rebuy 
E)  new-task buying

Question 6

Which of the following pieces of information would be most likely to be used as an activity indicator to estimate the demand for coal-shearing machines used to strip coal from mines?

Accepted Answer

A)  the total number of establishments that sell coal to ultimate consumers 
B)  the total number of coal cars produced for U.S. railroads 
C)  the total number of homes that use coal-burning stoves 
D)  the volume of coal mined in 2000 
E)  the estimate of coal reserves in Kentucky and West Virginia 
A)  the total number of establishments that sell coal to ultimate consumers 
B)  the total number of coal cars produced for U.S. railroads 
C)  the total number of homes that use coal-burning stoves 
D)  the volume of coal mined in 2000 
E)  the estimate of coal reserves in Kentucky and West Virginia

Question 7

The Home Depot, Pier 1, and Payless shoe stores are part of the _____ market.

Accepted Answer

A)  wholesale 
B)  reciprocal 
C)  contractual 
D)  SIC 
E)  reseller 
A)  wholesale 
B)  reciprocal 
C)  contractual 
D)  SIC 
E)  reseller

Question 8

Leasing allows the lessee to retain its capital for other purposes.

Accepted Answer

A) True 
 B)False

Question 9

CTS Industries provides laser engraved rollers for photogravure printers that print everything from posters to newspapers to potato chip bags to drink cans. The engraved roller is responsible for making sure the exact amount of ink needed is inked onto the surface being printed. An 8 percent increase in the price of the rollers will have no effect on demand for the rollers because advertising and packaging materials will still need to be printed. Demand for the CTS rollers is:

Accepted Answer

A)  inelastic. 
B)  contrived. 
C)  negotiated. 
D)  reciprocal. 
E)  elastic. 
A)  inelastic. 
B)  contrived. 
C)  negotiated. 
D)  reciprocal. 
E)  elastic.

Question 10

The purchase of a new box of dry erase markers for a high school classroom teacher is essentially a straight rebuy.

Accepted Answer

A) True 
 B)False

Question 11

From a lessor's point of view, leasing:

Accepted Answer

A)  offers an effective method of expanding the market for a new product. 
B)  narrows the distribution for a new product. 
C)  results in lower maintenance costs. 
D)  allows the lessor to retain his or her investment capital for other purposes. 
E)  does none of the above. 
A)  offers an effective method of expanding the market for a new product. 
B)  narrows the distribution for a new product. 
C)  results in lower maintenance costs. 
D)  allows the lessor to retain his or her investment capital for other purposes. 
E)  does none of the above.

Question 12

Which of the following products is LEAST likely to feel the impact of the acceleration principle?

Accepted Answer

A)  concrete 
B)  beef 
C)  asphalt 
D)  aluminum 
E)  fork lifts 
A)  concrete 
B)  beef 
C)  asphalt 
D)  aluminum 
E)  fork lifts

Question 13

Salespeople John and Zsa-Zsa are offering basically the same product at the same price and with the same post sale services to a purchasing agent at Hamilton Industries. Which of the following describes a technique that Zsa-Zsa could ethically use to win the sale away from John?

Accepted Answer

A)  She can approach Hamilton's CEO on a purely friend-to-friend basis. 
B)  She can offer to let John have the Hamilton deal if he will let her have the next similar deal. 
C)  She can give the purchasing agent a dozen golf balls since she has noticed golf memorabilia in his office. 
D)  She can offer to split the sale with John. 
E)  She can realize that there is no ethical way to win the sale. 
A)  She can approach Hamilton's CEO on a purely friend-to-friend basis. 
B)  She can offer to let John have the Hamilton deal if he will let her have the next similar deal. 
C)  She can give the purchasing agent a dozen golf balls since she has noticed golf memorabilia in his office. 
D)  She can offer to split the sale with John. 
E)  She can realize that there is no ethical way to win the sale.

Question 14

Peachtree Doors & Windows advertises in consumer magazines to encourage people who are building a new home or remodeling an existing one to ask their contractors to use Peachtree products. This shows how consumer demand can trigger _____ in the business market.

Accepted Answer

A)  reciprocity 
B)  derived demand 
C)  fluctuating demand 
D)  elastic demand 
E)  multiple buying influence 
A)  reciprocity 
B)  derived demand 
C)  fluctuating demand 
D)  elastic demand 
E)  multiple buying influence

Question 15

A customer analysis would be a part of ____ CRM.

Accepted Answer

A)  collaborative 
B)  functional 
C)  hierarchical 
D)  analytical 
E)  operational 
A)  collaborative 
B)  functional 
C)  hierarchical 
D)  analytical 
E)  operational

Question 16

Which of the following products will probably reach a vertical business market rather than a horizontal business market?

Accepted Answer

A)  acid-resistant protective rubber boots 
B)  laser color printers 
C)  VISA stain resistant fabric 
D)  wooden horses used in amusement park carousels 
E)  portable display shelves 
A)  acid-resistant protective rubber boots 
B)  laser color printers 
C)  VISA stain resistant fabric 
D)  wooden horses used in amusement park carousels 
E)  portable display shelves

Question 17

The demand for many business products is relatively _____, which means in the short run the demand for  a product responds very little to changes in its price.

Accepted Answer

The answer of The demand for many business products is...

Question 18

A multiple buying influence:

Accepted Answer

A)  creates form, time, possession, and place utility. 
B)  exists only in medium- and large-sized organizations. 
C)  refers to the geographic proximity of manufacturing firms. 
D)  describes the participation of various individuals in the buying decision. 
E)  refers to the number of sales people that compete for a buyer's attention. 
A)  creates form, time, possession, and place utility. 
B)  exists only in medium- and large-sized organizations. 
C)  refers to the geographic proximity of manufacturing firms. 
D)  describes the participation of various individuals in the buying decision. 
E)  refers to the number of sales people that compete for a buyer's attention.

Question 19

The most important feature differentiating business marketing from consumer marketing is the:

Accepted Answer

A)  use of value chains. 
B)  importance of loyalty. 
C)  customization of products. 
D)  number of people who influence the purchase decision. 
E)  use of segmentation strategy 
A)  use of value chains. 
B)  importance of loyalty. 
C)  customization of products. 
D)  number of people who influence the purchase decision. 
E)  use of segmentation strategy

Question 20

Directly or indirectly all business products are used to produce consumer products. Therefore, it can be said that the demand for business products is _____ demand.

Accepted Answer

A)  elastic 
B)  nonfluctuating 
C)  negotiated 
D)  derived 
E)  inelastic 
A)  elastic 
B)  nonfluctuating 
C)  negotiated 
D)  derived 
E)  inelastic

Exam 5: Business Markets and Buying Behavior

Which of the following products will probably reach a vertical business market rather than a horizontal business market?

Waldenbooks, Proffit's department store, Lands' End, and PetsMart are all part of the _____ market.

In a typical consumer market, consumers do not buy directly from the producer.

If a product being sold by several competing firms is very standardized, the best method for differentiating your firm from the others would be to:

When Dr. Zane Greene's staff began complaining about how slow his autoclave is when they use it to sterilize dental equipment, he made a couple of phone calls and then ordered the new Vela autoclave because it is the fastest and safest on the market. This purchase is an example of a _____ purchase.

Which of the following pieces of information would be most likely to be used as an activity indicator to estimate the demand for coal-shearing machines used to strip coal from mines?

The Home Depot, Pier 1, and Payless shoe stores are part of the _____ market.

Leasing allows the lessee to retain its capital for other purposes.

The purchase of a new box of dry erase markers for a high school classroom teacher is essentially a straight rebuy.

From a lessor's point of view, leasing:

Which of the following products is LEAST likely to feel the impact of the acceleration principle?

Salespeople John and Zsa-Zsa are offering basically the same product at the same price and with the same post sale services to a purchasing agent at Hamilton Industries. Which of the following describes a technique that Zsa-Zsa could ethically use to win the sale away from John?

Peachtree Doors & Windows advertises in consumer magazines to encourage people who are building a new home or remodeling an existing one to ask their contractors to use Peachtree products. This shows how consumer demand can trigger _____ in the business market.

A customer analysis would be a part of ____ CRM.

Which of the following products will probably reach a vertical business market rather than a horizontal business market?

The demand for many business products is relatively _____, which means in the short run the demand for a product responds very little to changes in its price.

A multiple buying influence:

The most important feature differentiating business marketing from consumer marketing is the:

Directly or indirectly all business products are used to produce consumer products. Therefore, it can be said that the demand for business products is _____ demand.

The Field of Marketing

The Dynamic Marketing Environment

Global Markets and Marketing

Consumer Markets and Buying Behavior

Marketing Research and Market Information

Product Planning and Development

Product-Mix Strategies

Brands, Packaging, and Other Product Features

Services Marketing

Price Determination

Pricing Strategies

Channels of Distribution

Retailing

Wholesaling and Physical Distribution

Integrated Marketing Communications

Personal Selling and Sales Management

Advertising, Sales Promotion, and Public Relations

Strategic Marketing Planning

Marketing Implementation and Evaluation

Marketing and the Information Economy

Market Segmentation Targeting and Positioning

Filters