Question 1

In the context of the purchase decision-making process,requirements planning consists of:

Accepted Answer

A) performing a value analysis on suppliers. 
B) engaging in an in-depth investigation before qualifying a firm as a potential supplier. 
C) attempting to forecast future requirements of the firm so as to plan their purchases in advance. 
D) determining how best to advertise a company's product. 
A) performing a value analysis on suppliers. 
B) engaging in an in-depth investigation before qualifying a firm as a potential supplier. 
C) attempting to forecast future requirements of the firm so as to plan their purchases in advance. 
D) determining how best to advertise a company's product. C

Question 2

In the context of organizational market,technical experts from various departments of a firm who help determine which specifications and criteria to use in making the purchase decisions are known as:

Accepted Answer

A) deciders. 
B) ultimate consumers. 
C) influencers. 
D) gatekeepers. 
A) deciders. 
B) ultimate consumers. 
C) influencers. 
D) gatekeepers. C

Question 3

Discuss the demand characteristics and market demographics of the typical organizational market compared to the typical consumer market.

Accepted Answer

The demand for industrial goods tends to be derived from the demand for consumer goods,stay relatively inelastic in price,is more cyclical,and more erratic than the demand for consumer goods.Organizational markets tend to have fewer potential customers who buy larger volumes,are geographically concentrated,and more apt to buy on specifications than consumer buyers.

Question 4

Price is rarely the critical decision variable for operating supplies purchases.

Accepted Answer

A) True 
 B)False

Question 5

At the most basic level,marketers need to answer the same set of questions about organizational markets as about consumer markets in order to develop a solid foundation for their marketing plans.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is the last step of the purchase decision-making process?

Accepted Answer

A) Purchase decision 
B) Evaluation and selection of suppliers 
C) Postpurchase evaluation and feedback 
D) Make-or-buy decisions 
A) Purchase decision 
B) Evaluation and selection of suppliers 
C) Postpurchase evaluation and feedback 
D) Make-or-buy decisions

Question 7

The buying center:

Accepted Answer

A) comprises of several people from different departments who participate in the organizational purchasing process. 
B) comprises of only those people in the firm who would be using the goods or services purchased by the firm. 
C) is a separately staffed department in large organizations involved only in the purchase of goods and services for the company. 
D) is a platform where buyers and sellers congregate and take decisions regarding their future transactions. 
A) comprises of several people from different departments who participate in the organizational purchasing process. 
B) comprises of only those people in the firm who would be using the goods or services purchased by the firm. 
C) is a separately staffed department in large organizations involved only in the purchase of goods and services for the company. 
D) is a platform where buyers and sellers congregate and take decisions regarding their future transactions.

Question 8

In the context of industrial goods,which of the following is true for installations?

Accepted Answer

A) It refers to relatively unprocessed goods that become a portion of the final product. 
B) They are capital goods used to produce final products,but are not part of the final products. 
C) Farm products and lumber are examples of installations. 
D) They are processed goods that are used to produce final products and they become a portion of the products. 
A) It refers to relatively unprocessed goods that become a portion of the final product. 
B) They are capital goods used to produce final products,but are not part of the final products. 
C) Farm products and lumber are examples of installations. 
D) They are processed goods that are used to produce final products and they become a portion of the products.

Question 9

All of the following are examples of business service providers EXCEPT:

Accepted Answer

A) ad agencies. 
B) equipment manufacturers. 
C) marketing research firms. 
D) accounting agencies. 
A) ad agencies. 
B) equipment manufacturers. 
C) marketing research firms. 
D) accounting agencies.

Question 10

In markets characterized by complex and uncertain technical environments,such as where competing technologies are emerging simultaneously,as in the networking software industry,customers are:

Accepted Answer

A) more likely to keep their options open by spreading their purchases across multiple suppliers. 
B) more likely to develop a long-term orientation toward a single supplier. 
C) more likely to continue with their original supplier,even if their product is losing ground as the industry standard. 
D) more likely to buy goods and services only for their own personal use and consumption. 
A) more likely to keep their options open by spreading their purchases across multiple suppliers. 
B) more likely to develop a long-term orientation toward a single supplier. 
C) more likely to continue with their original supplier,even if their product is losing ground as the industry standard. 
D) more likely to buy goods and services only for their own personal use and consumption.

Question 11

A miner working for a mining company requests the purchasing agent of the company to buy a particular brand of high powered LED mining helmets as it would help him to work more efficiently.The miner belongs to the category of _____ in the organizational purchasing process.

Accepted Answer

A) deciders 
B) gatekeepers 
C) users 
D) buyers 
A) deciders 
B) gatekeepers 
C) users 
D) buyers

Question 12

In the context of organizational market,"users" are the people in the organization who:

Accepted Answer

A) provide information for evaluating alternative products and suppliers. 
B) control the flow of information to other people in the purchasing process. 
C) often utilize or work with the product or service purchased. 
D) have the authority to make a final purchase decision. 
A) provide information for evaluating alternative products and suppliers. 
B) control the flow of information to other people in the purchasing process. 
C) often utilize or work with the product or service purchased. 
D) have the authority to make a final purchase decision.

Question 13

The situation in which a company favors a supplier that is also a customer for that company is termed as _____.

Accepted Answer

A) cross-purchasing 
B) reciprocity 
C) computing 
D) direct selling 
A) cross-purchasing 
B) reciprocity 
C) computing 
D) direct selling

Question 14

High mutual interdependence encourages the development and maintenance of long-term relationships and alliances between buyers and sellers.

Accepted Answer

A) True 
 B)False

Question 15

Value analysis refers to the:

Accepted Answer

A) systematic appraisal of an item's design,quality,and performance requirements. 
B) assessment of the value of the product compared to comparable products on the market. 
C) appraisal of the value of the business unit in terms of its contribution to the corporation. 
D) comparison of the worth of publicly traded company stock to the book value of the company. 
A) systematic appraisal of an item's design,quality,and performance requirements. 
B) assessment of the value of the product compared to comparable products on the market. 
C) appraisal of the value of the business unit in terms of its contribution to the corporation. 
D) comparison of the worth of publicly traded company stock to the book value of the company.

Question 16

The difference between installations and accessory equipments is that:

Accepted Answer

A) installations include industrial machines and tools that manufacturers use to carry out their operations. 
B) installations cannot determine the scale of operations of the firms that buy and use them. 
C) installations are finished goods that facilitate production of a final product. 
D) installations are finished goods that facilitate repair,maintenance,and ongoing operations. 
A) installations include industrial machines and tools that manufacturers use to carry out their operations. 
B) installations cannot determine the scale of operations of the firms that buy and use them. 
C) installations are finished goods that facilitate production of a final product. 
D) installations are finished goods that facilitate repair,maintenance,and ongoing operations.

Question 17

A straight rebuy involves purchasing a common product or service the organization has bought many times before.

Accepted Answer

A) True 
 B)False

Question 18

Business services provide special expertise to facilitate ongoing operations.

Accepted Answer

A) True 
 B)False

Question 19

Compared to markets for consumer goods,organizational markets:

Accepted Answer

A) are subject to multiple buying influences and have a close buyer-seller relationship. 
B) have weaker buyer-seller relationships as they are subject to multiple buying influences. 
C) compensate for lack of buying specialization with close buyer-seller relationships. 
D) are less apt to buy on specification given the multiple buying influences. 
A) are subject to multiple buying influences and have a close buyer-seller relationship. 
B) have weaker buyer-seller relationships as they are subject to multiple buying influences. 
C) compensate for lack of buying specialization with close buyer-seller relationships. 
D) are less apt to buy on specification given the multiple buying influences.

Question 20

The relative influence of the purchasing manager is lesser when reordering items the firm has purchased in the past than when buying a new product.

Accepted Answer

A) True 
 B)False

In the context of the purchase decision-making process,requirements planning consists of:

In the context of organizational market,technical experts from various departments of a firm who help determine which specifications and criteria to use in making the purchase decisions are known as:

Discuss the demand characteristics and market demographics of the typical organizational market compared to the typical consumer market.

Price is rarely the critical decision variable for operating supplies purchases.

At the most basic level,marketers need to answer the same set of questions about organizational markets as about consumer markets in order to develop a solid foundation for their marketing plans.

Which of the following is the last step of the purchase decision-making process?

The buying center:

In the context of industrial goods,which of the following is true for installations?

All of the following are examples of business service providers EXCEPT:

In markets characterized by complex and uncertain technical environments,such as where competing technologies are emerging simultaneously,as in the networking software industry,customers are:

A miner working for a mining company requests the purchasing agent of the company to buy a particular brand of high powered LED mining helmets as it would help him to work more efficiently.The miner belongs to the category of _____ in the organizational purchasing process.

In the context of organizational market,"users" are the people in the organization who:

The situation in which a company favors a supplier that is also a customer for that company is termed as _____.

High mutual interdependence encourages the development and maintenance of long-term relationships and alliances between buyers and sellers.

Value analysis refers to the:

The difference between installations and accessory equipments is that:

A straight rebuy involves purchasing a common product or service the organization has bought many times before.

Business services provide special expertise to facilitate ongoing operations.

Compared to markets for consumer goods,organizational markets:

The relative influence of the purchasing manager is lesser when reordering items the firm has purchased in the past than when buying a new product.

The Marketing Management Process

The Marketing Implications of Corporate and Business Strategies

Understanding Market Opportunities

Understanding Consumer Buying Behavior

Measuring Market Opportunities: Forecasting and Market Knowledge

Targeting Attractive Market Segments

Differentiation and Brand Positioning

Business Strategies: a Foundation for Marketing Program Decisions

Product Decisions

Pricing Decisions

Distribution Channel Decisions

Integrated Promotion Decisions

Marketing Strategies for a Digitally Networked World

Strategies for New and Growing Markets

Strategies for Mature and Declining Markets

Organizing and Planning for Effective Implementation

Measuring and Delivering Marketing Performance

Filters

Exam 5: Understanding Organizational Markets and Buying Behavior

In the context of the purchase decision-making process,requirements planning consists of:

In the context of organizational market,technical experts from various departments of a firm who help determine which specifications and criteria to use in making the purchase decisions are known as:

Discuss the demand characteristics and market demographics of the typical organizational market compared to the typical consumer market.

Price is rarely the critical decision variable for operating supplies purchases.

At the most basic level,marketers need to answer the same set of questions about organizational markets as about consumer markets in order to develop a solid foundation for their marketing plans.

Which of the following is the last step of the purchase decision-making process?

The buying center:

In the context of industrial goods,which of the following is true for installations?

All of the following are examples of business service providers EXCEPT:

In markets characterized by complex and uncertain technical environments,such as where competing technologies are emerging simultaneously,as in the networking software industry,customers are:

A miner working for a mining company requests the purchasing agent of the company to buy a particular brand of high powered LED mining helmets as it would help him to work more efficiently.The miner belongs to the category of _____ in the organizational purchasing process.

In the context of organizational market,"users" are the people in the organization who:

The situation in which a company favors a supplier that is also a customer for that company is termed as _____.

High mutual interdependence encourages the development and maintenance of long-term relationships and alliances between buyers and sellers.

Value analysis refers to the:

The difference between installations and accessory equipments is that:

A straight rebuy involves purchasing a common product or service the organization has bought many times before.

Business services provide special expertise to facilitate ongoing operations.

Compared to markets for consumer goods,organizational markets:

The relative influence of the purchasing manager is lesser when reordering items the firm has purchased in the past than when buying a new product.

The Marketing Management Process

The Marketing Implications of Corporate and Business Strategies

Understanding Market Opportunities

Understanding Consumer Buying Behavior

Measuring Market Opportunities: Forecasting and Market Knowledge

Targeting Attractive Market Segments

Differentiation and Brand Positioning

Business Strategies: a Foundation for Marketing Program Decisions

Product Decisions

Pricing Decisions

Distribution Channel Decisions

Integrated Promotion Decisions

Marketing Strategies for a Digitally Networked World

Strategies for New and Growing Markets

Strategies for Mature and Declining Markets

Organizing and Planning for Effective Implementation

Measuring and Delivering Marketing Performance

Filters