Question 1

One way for a business marketer to identify potential target markets is to consult the Newly-Automated Industrial Coding System (NAICS).

Accepted Answer

A) True 
 B)False

Question 2

The objective of _____ is to provide mechanisms for customers to interact with the firm.

Accepted Answer

A)  analytical CRM 
B)  customerization 
C)  functionalization 
D)  collaborative CRM 
E)  operational CRM 
A)  analytical CRM 
B)  customerization 
C)  functionalization 
D)  collaborative CRM 
E)  operational CRM

Question 3

When a university buys the initial equipment needed to set up two-way video transmissions for long-distance learning classrooms, a _____ purchase occurred.

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 4

When a school custodian buys a case of paper towels to restock the school's supply, it is an example of business marketing.

Accepted Answer

A) True 
 B)False

Question 5

A mid-sized manufacturing company wants to buy computer equipment to network its operation with that of its distributors. After looking at the products and prices of several technology companies, the CEO of the firm settled on Asset Recovery Center, one of the largest sellers of used computer equipment, because it offered the same equipment and service at significantly lower prices. The CEO has just completed the _____ stage of the buying decision process.

Accepted Answer

A)  purchase decision 
B)  need recognition 
C)  alternative evaluation 
D)  alternative identification 
E)  prepurchase patronage 
A)  purchase decision 
B)  need recognition 
C)  alternative evaluation 
D)  alternative identification 
E)  prepurchase patronage

Question 6

_____ _____ is the marketing of goods and services to business users, as contrasted to ultimate  consumers.

Accepted Answer

The answer of _____ _____ is the marketing of goods...

Question 7

Many marketers approach marketing as a series of links between buyers and sellers. This is called the _____ approach.

Accepted Answer

A)  disintermediation 
B)  reciprocal 
C)  linked distribution 
D)  value mix 
E)  supply chain 
A)  disintermediation 
B)  reciprocal 
C)  linked distribution 
D)  value mix 
E)  supply chain

Question 8

Food processing companies and commercial cooks recently had to decide whether to use pure vanilla or artificial vanilla. A cyclone in Madagascar, the number one producer of vanilla, destroyed most of the vanilla plants. (It takes three years to grow a plant.) The cooks and the food processors require vanilla to prepare many of their products. Some thought was given to whether to pay the exorbitant price for real vanilla or substitute artificial vanilla and hope no one noticed. In this instance, the purchase of vanilla would have been an example of a _____ purchase for many cooks and processors.

Accepted Answer

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

Question 9

The North American Industry Classification System (NAICS) is superior to the Standard Industrial Classification Code because it not only has a method of indicating a multiproduct company, but the system also identifies geographic locations.

Accepted Answer

A) True 
 B)False

Question 10

Electronic commerce is particularly useful for straight rebuys.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following statements about electronic commerce is True?

Accepted Answer

A)  Electronic commerce will require all businesses change the way they conduct marketing activities. 
B)  Electronic commerce is inappropriate for straight rebuys. 
C)  Reverse auctions are not a type of electronic commerce. 
D)  FreeMarkets is an example of a company that engages in electronic commerce. 
E)  All of the above statements about electronic commerce are True. 
A)  Electronic commerce will require all businesses change the way they conduct marketing activities. 
B)  Electronic commerce is inappropriate for straight rebuys. 
C)  Reverse auctions are not a type of electronic commerce. 
D)  FreeMarkets is an example of a company that engages in electronic commerce. 
E)  All of the above statements about electronic commerce are True.

Question 12

From a customer's point of view, leasing:

Accepted Answer

A)  leads to higher maintenance expenses. 
B)  allows users to retain their investment capital for other purposes. 
C)  is impractical for seasonal industries. 
D)  is an effective weapon in price wars. 
E)  offers no significant tax advantages. 
A)  leads to higher maintenance expenses. 
B)  allows users to retain their investment capital for other purposes. 
C)  is impractical for seasonal industries. 
D)  is an effective weapon in price wars. 
E)  offers no significant tax advantages.

Question 13

Caterpillar sells earthmoving equipment to mining companies, construction companies, companies that build bridges and roads, and logging companies. Therefore, it has a _____ business market.

Accepted Answer

A)  vertical 
B)  direct 
C)  indirect 
D)  horizontal 
E)  linear 
A)  vertical 
B)  direct 
C)  indirect 
D)  horizontal 
E)  linear

Question 14

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. If the consumer market dips, then the demand for the rollers declines also. There is ______ for the CTS rollers.

Accepted Answer

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

Question 15

When the owner of Deutsch Kennels boards dogs, she wants them to be as comfortable as possible. That is why she is considering buying an air conditioning system for the dogs' sleeping quarters. She is in the _____ stage of the buying-decision process.

Accepted Answer

A)  purchase decision 
B)  need recognition 
C)  alternative evaluation 
D)  alternative identification 
E)  prepurchase patronage 
A)  purchase decision 
B)  need recognition 
C)  alternative evaluation 
D)  alternative identification 
E)  prepurchase patronage

Question 16

The newspapers today are filled with information on the problems facing the United States airline industry. The effect on the aluminum industry has been tremendous. Eighty percent of the metals in an airplane are aluminum and when people stop flying, air lines stop ordering new planes. The demand for aluminum in the airline industry is:

Accepted Answer

A)  reciprocal. 
B)  accelerated. 
C)  cumulative. 
D)  derived. 
E)  synergistic. 
A)  reciprocal. 
B)  accelerated. 
C)  cumulative. 
D)  derived. 
E)  synergistic.

Question 17

Why do many companies make no effort to sell to the lucrative government market?

Accepted Answer

A)  It is not worth the effort. 
B)  Many companies are intimidated by the red tape. 
C)  There is no direct demand. 
D)  The government market does not buy services. 
E)  The competition is too intense. 
A)  It is not worth the effort. 
B)  Many companies are intimidated by the red tape. 
C)  There is no direct demand. 
D)  The government market does not buy services. 
E)  The competition is too intense.

Question 18

Food processing companies and commercial cooks recently had to decide whether to use pure vanilla or artificial vanilla. A cyclone in Madagascar, the number one producer of vanilla, destroyed most of the vanilla plants. (It takes three years to grow a plant.) Since artificial vanilla is acceptable to anyone who is not a connoisseur, most chose to use artificial vanilla which cost about one-fourth the price of pure. The demand for vanilla is mostly:

Accepted Answer

A)  synergistic. 
B)  inflexible. 
C)  elastic. 
D)  cumulative. 
E)  accelerated. 
A)  synergistic. 
B)  inflexible. 
C)  elastic. 
D)  cumulative. 
E)  accelerated.

Question 19

The term disintermediation refers to the ability of resellers to create form, time, place, possession, and knowledge utility.

Accepted Answer

A) True 
 B)False

Question 20

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

Accepted Answer

A)  lettuce 
B)  yeast 
C)  milk 
D)  plastic 
E)  chicken 
A)  lettuce 
B)  yeast 
C)  milk 
D)  plastic 
E)  chicken

One way for a business marketer to identify potential target markets is to consult the Newly-Automated Industrial Coding System (NAICS).

The objective of _____ is to provide mechanisms for customers to interact with the firm.

When a university buys the initial equipment needed to set up two-way video transmissions for long-distance learning classrooms, a _____ purchase occurred.

When a school custodian buys a case of paper towels to restock the school's supply, it is an example of business marketing.

_ _ is the marketing of goods and services to business users, as contrasted to ultimate consumers.

Many marketers approach marketing as a series of links between buyers and sellers. This is called the _____ approach.

The North American Industry Classification System (NAICS) is superior to the Standard Industrial Classification Code because it not only has a method of indicating a multiproduct company, but the system also identifies geographic locations.

Electronic commerce is particularly useful for straight rebuys.

Which of the following statements about electronic commerce is True?

From a customer's point of view, leasing:

Caterpillar sells earthmoving equipment to mining companies, construction companies, companies that build bridges and roads, and logging companies. Therefore, it has a _____ business market.

When the owner of Deutsch Kennels boards dogs, she wants them to be as comfortable as possible. That is why she is considering buying an air conditioning system for the dogs' sleeping quarters. She is in the _____ stage of the buying-decision process.

Why do many companies make no effort to sell to the lucrative government market?

The term disintermediation refers to the ability of resellers to create form, time, place, possession, and knowledge utility.

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

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

Exam 5: Business Markets and Buying Behavior

One way for a business marketer to identify potential target markets is to consult the Newly-Automated Industrial Coding System (NAICS).

The objective of _____ is to provide mechanisms for customers to interact with the firm.

When a university buys the initial equipment needed to set up two-way video transmissions for long-distance learning classrooms, a _____ purchase occurred.

When a school custodian buys a case of paper towels to restock the school's supply, it is an example of business marketing.

_____ _____ is the marketing of goods and services to business users, as contrasted to ultimate consumers.

Many marketers approach marketing as a series of links between buyers and sellers. This is called the _____ approach.

The North American Industry Classification System (NAICS) is superior to the Standard Industrial Classification Code because it not only has a method of indicating a multiproduct company, but the system also identifies geographic locations.

Electronic commerce is particularly useful for straight rebuys.

Which of the following statements about electronic commerce is True?

From a customer's point of view, leasing:

Caterpillar sells earthmoving equipment to mining companies, construction companies, companies that build bridges and roads, and logging companies. Therefore, it has a _____ business market.

When the owner of Deutsch Kennels boards dogs, she wants them to be as comfortable as possible. That is why she is considering buying an air conditioning system for the dogs' sleeping quarters. She is in the _____ stage of the buying-decision process.

Why do many companies make no effort to sell to the lucrative government market?

The term disintermediation refers to the ability of resellers to create form, time, place, possession, and knowledge utility.

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

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

_ _ is the marketing of goods and services to business users, as contrasted to ultimate consumers.