Question 1

How do government purchases differ from the purchases made by institutional organizations in business-to-business (B2B)markets?

Accepted Answer

Governments make much larger purchases, and their buying processes must not only satisfy strict policy guidelines and directives set by the government, but also meet international trade rules set by the World Trade Organization (WTO)or the North American Free Trade Agreement (NAFTA).Additionally, government purchases are subject to public scrutiny and can be subjected to legal challenges or be cancelled or modified.Governments consider a wide range of factors in their purchases and may not always purchase from the vendor with the lowest price.
Institutional buyers, on the other hand, tend to have relatively small budgets and therefore seek the best value when buying products and services for their organizations.That is, if two suppliers are offering roughly similar products, they may opt for the supplier with the lower price.Institutional organizations are not under public scrutiny and rarely disclose their purchase decisions and practices, although they may try to make their buying processes transparent.

Question 2

In comparison with purchases made by government organizations, which of the following statements is true of institutional buyers?

Accepted Answer

A) They rarely disclose their purchase decisions and practices. 
B) They are subject to heavy public scrutiny. 
C) They are less likely to engage in reciprocal buying. 
D) They usually opt for a supplier that quotes the highest price. 
E) They traditionally make much larger purchases. 
A) They rarely disclose their purchase decisions and practices. 
B) They are subject to heavy public scrutiny. 
C) They are less likely to engage in reciprocal buying. 
D) They usually opt for a supplier that quotes the highest price. 
E) They traditionally make much larger purchases. A

Question 3

All business-to-business purchases go through each stage of the buying process with the same intensity.

Accepted Answer

A) True 
 B)False  False

Question 4

The decision taken by the design team is similar to the decision-making process of a(n):

Accepted Answer

A) autocratic buying centre. 
B) democratic buying centre. 
C) autonomous buying centre. 
D) consensus buying centre. 
E) consultative buying centre. 
A) autocratic buying centre. 
B) democratic buying centre. 
C) autonomous buying centre. 
D) consensus buying centre. 
E) consultative buying centre.

Question 5

In business-to-business (B2B)markets, which of the following is a buying practice arrangement where two firms agree to buy each other's products and services?

Accepted Answer

A) Impulsive buying 
B) Erratic buying 
C) Dissonance buying 
D) Reciprocal buying 
E) Variety-seeking buying 
A) Impulsive buying 
B) Erratic buying 
C) Dissonance buying 
D) Reciprocal buying 
E) Variety-seeking buying

Question 6

In a modified rebuy, the buying organization buys additional units of the products that had previously been purchased.

Accepted Answer

A) True 
 B)False

Question 7

The salesperson is an integral component of all types of B2C transactions, particularly the fast-moving consumer goods.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following statements describes the nature of products in business-to-business (B2B)markets?

Accepted Answer

A) The products sold in these markets are mainly finished goods assembled by firms. 
B) The products are sophisticated and must conform to technical standards of the buyer. 
C) There is no time-bound delivery of products in B2B markets. 
D) Consumers buy the products from B2B markets for their own personal consumption. 
E) Technical assistance and after-sale service is not mandatory for products in B2B markets. 
A) The products sold in these markets are mainly finished goods assembled by firms. 
B) The products are sophisticated and must conform to technical standards of the buyer. 
C) There is no time-bound delivery of products in B2B markets. 
D) Consumers buy the products from B2B markets for their own personal consumption. 
E) Technical assistance and after-sale service is not mandatory for products in B2B markets.

Question 9

Which of the following marketing intermediaries resell manufactured products without significantly altering their form?

Accepted Answer

A) Gatekeepers 
B) Producers 
C) Buyers 
D) Wholesalers 
E) Users 
A) Gatekeepers 
B) Producers 
C) Buyers 
D) Wholesalers 
E) Users

Question 10

Michael works in an insurance firm.He handles all the formalities and documentation of the insurance policies purchased by the clients.Michael's role is similar to that of a(n):

Accepted Answer

A) buyer. 
B) user. 
C) decider. 
D) influencer. 
E) agent. 
A) buyer. 
B) user. 
C) decider. 
D) influencer. 
E) agent.

Question 11

In most B2B marketing, which of the following is an integral component of the transaction?

Accepted Answer

A) The government 
B) Personal consumption 
C) Brand reputation 
D) The salesperson 
E) Personal tastes 
A) The government 
B) Personal consumption 
C) Brand reputation 
D) The salesperson 
E) Personal tastes

Question 12

Which of the following social networking sites is mainly used for professional networking in the business-to-business (B2B)marketplace?

Accepted Answer

A) Facebook 
B) Orkut 
C) LinkedIn 
D) Flickr 
E) Myspace 
A) Facebook 
B) Orkut 
C) LinkedIn 
D) Flickr 
E) Myspace

Question 13

An automobile firm buys exhaust pipes from a certain supplier in the city.The firm finds that the pipes are reliable and in accordance with its specifications.The firm places a repeat order for the exhaust pipes with the same supplier.This is an example of a:

Accepted Answer

A) modified rebuy. 
B) specific buy. 
C) straight rebuy. 
D) new buy. 
E) discount rebuy. 
A) modified rebuy. 
B) specific buy. 
C) straight rebuy. 
D) new buy. 
E) discount rebuy.

Question 14

Government purchases differ from the purchases made by institutional organizations in that institutional organizations:

Accepted Answer

A) make relatively large purchases and consider a wide range of factors in their purchases. 
B) may not always purchase from the vendor with the lowest price. 
C) need to make purchases that comply with the policy guidelines and trade rules set by the World Trade Organization. 
D) have relatively small budgets and therefore seek the best value when buying products and services. 
E) have to disclose their purchase decisions and practices to the public. 
A) make relatively large purchases and consider a wide range of factors in their purchases. 
B) may not always purchase from the vendor with the lowest price. 
C) need to make purchases that comply with the policy guidelines and trade rules set by the World Trade Organization. 
D) have relatively small budgets and therefore seek the best value when buying products and services. 
E) have to disclose their purchase decisions and practices to the public.

Question 15

The third digit in an NAICS code represents:

Accepted Answer

A) the industry group. 
B) the subsector. 
C) a specific subgroup within the industry. 
D) the sector in the economy. 
E) the country-level industry. 
A) the industry group. 
B) the subsector. 
C) a specific subgroup within the industry. 
D) the sector in the economy. 
E) the country-level industry.

Question 16

What is organizational culture? How does it influence purchasing decisions in business-to-business (B2B)markets?

Accepted Answer

A firm's organizational culture reflects

Question 17

Business-to-business marketing refers to buying and selling goods or services to be used by final consumers.

Accepted Answer

A) True 
 B)False

Question 18

In the context of a buying centre, the role played by Wright in the buying process is similar to that of a(n):

Accepted Answer

A) decider. 
B) influencer. 
C) user. 
D) gatekeeper. 
E) buyer. 
A) decider. 
B) influencer. 
C) user. 
D) gatekeeper. 
E) buyer.

Question 19

Graelona Stores receives a number of responses to its request for proposal (RFP).On what basis will Graelona Stores choose a particular supplier from all the proposals it receives in response to its RFP?

Accepted Answer

Graelona Stores, in conjunction with its

Question 20

Which of the following is a marketing intermediary that deals with reselling a product without changing or modifying it notably?

Accepted Answer

A) Producer 
B) Consumer 
C) Distributor 
D) Initiator 
E) Gatekeeper 
A) Producer 
B) Consumer 
C) Distributor 
D) Initiator 
E) Gatekeeper

How do government purchases differ from the purchases made by institutional organizations in business-to-business (B2B)markets?

In comparison with purchases made by government organizations, which of the following statements is true of institutional buyers?

All business-to-business purchases go through each stage of the buying process with the same intensity.

The decision taken by the design team is similar to the decision-making process of a(n):

In business-to-business (B2B)markets, which of the following is a buying practice arrangement where two firms agree to buy each other's products and services?

In a modified rebuy, the buying organization buys additional units of the products that had previously been purchased.

The salesperson is an integral component of all types of B2C transactions, particularly the fast-moving consumer goods.

Which of the following statements describes the nature of products in business-to-business (B2B)markets?

Which of the following marketing intermediaries resell manufactured products without significantly altering their form?

Michael works in an insurance firm.He handles all the formalities and documentation of the insurance policies purchased by the clients.Michael's role is similar to that of a(n):

In most B2B marketing, which of the following is an integral component of the transaction?

Which of the following social networking sites is mainly used for professional networking in the business-to-business (B2B)marketplace?

An automobile firm buys exhaust pipes from a certain supplier in the city.The firm finds that the pipes are reliable and in accordance with its specifications.The firm places a repeat order for the exhaust pipes with the same supplier.This is an example of a:

Government purchases differ from the purchases made by institutional organizations in that institutional organizations:

The third digit in an NAICS code represents:

What is organizational culture? How does it influence purchasing decisions in business-to-business (B2B)markets?

Business-to-business marketing refers to buying and selling goods or services to be used by final consumers.

In the context of a buying centre, the role played by Wright in the buying process is similar to that of a(n):

Graelona Stores receives a number of responses to its request for proposal (RFP).On what basis will Graelona Stores choose a particular supplier from all the proposals it receives in response to its RFP?

Which of the following is a marketing intermediary that deals with reselling a product without changing or modifying it notably?

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Analyzing the Marketing Environment

Consumer Behaviour

Segmentation, Targeting, and Positioning

Marketing Research

Developing New Products

Product, Branding, and Packaging Decisions

Services: The Intangible Product

Pricing Concepts and Strategies: Establishing Value

Distribution Channels

Retailing and Omni-Channel Marketing

Integrated Marketing Communications

Advertising, Sales Promotions, and Personal Selling

Social and Mobile Marketing

Global Marketing

Ethics and Socially Responsible Marketing

Filters

Exam 5: Business-To-Business Marketing

How do government purchases differ from the purchases made by institutional organizations in business-to-business (B2B)markets?

In comparison with purchases made by government organizations, which of the following statements is true of institutional buyers?

All business-to-business purchases go through each stage of the buying process with the same intensity.

The decision taken by the design team is similar to the decision-making process of a(n):

In business-to-business (B2B)markets, which of the following is a buying practice arrangement where two firms agree to buy each other's products and services?

In a modified rebuy, the buying organization buys additional units of the products that had previously been purchased.

The salesperson is an integral component of all types of B2C transactions, particularly the fast-moving consumer goods.

Which of the following statements describes the nature of products in business-to-business (B2B)markets?

Which of the following marketing intermediaries resell manufactured products without significantly altering their form?

Michael works in an insurance firm.He handles all the formalities and documentation of the insurance policies purchased by the clients.Michael's role is similar to that of a(n):

In most B2B marketing, which of the following is an integral component of the transaction?

Which of the following social networking sites is mainly used for professional networking in the business-to-business (B2B)marketplace?

An automobile firm buys exhaust pipes from a certain supplier in the city.The firm finds that the pipes are reliable and in accordance with its specifications.The firm places a repeat order for the exhaust pipes with the same supplier.This is an example of a:

Government purchases differ from the purchases made by institutional organizations in that institutional organizations:

The third digit in an NAICS code represents:

What is organizational culture? How does it influence purchasing decisions in business-to-business (B2B)markets?

Business-to-business marketing refers to buying and selling goods or services to be used by final consumers.

In the context of a buying centre, the role played by Wright in the buying process is similar to that of a(n):

Graelona Stores receives a number of responses to its request for proposal (RFP).On what basis will Graelona Stores choose a particular supplier from all the proposals it receives in response to its RFP?

Which of the following is a marketing intermediary that deals with reselling a product without changing or modifying it notably?

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Analyzing the Marketing Environment

Consumer Behaviour

Segmentation, Targeting, and Positioning

Marketing Research

Developing New Products

Product, Branding, and Packaging Decisions

Services: The Intangible Product

Pricing Concepts and Strategies: Establishing Value

Distribution Channels

Retailing and Omni-Channel Marketing

Integrated Marketing Communications

Advertising, Sales Promotions, and Personal Selling

Social and Mobile Marketing

Global Marketing

Ethics and Socially Responsible Marketing

Filters