Question 1

The organizational buying process differs from the consumer purchase process as the organizational buying process:

Accepted Answer

A)  involves few decision makers in making purchase decisions. 
B)  is informal and less professional. 
C)  requires a longer time frame because of complexity of the decisions. 
D)  generally involves purchase of highly standardized products. 
A)  involves few decision makers in making purchase decisions. 
B)  is informal and less professional. 
C)  requires a longer time frame because of complexity of the decisions. 
D)  generally involves purchase of highly standardized products.

Question 2

Which of the following is one of the four major categories that define the business market?

Accepted Answer

A)  Stock exchanges 
B)  Governmental organizations 
C)  Labor unions 
D)  Lobbying groups 
A)  Stock exchanges 
B)  Governmental organizations 
C)  Labor unions 
D)  Lobbying groups

Question 3

What are the different criteria involved in the selection of a vendor in a business buying process?

Accepted Answer

Price is the main but not the only crite

Question 4

End-use application segmentation focuses on the precise way in which a business purchaser will use a product.

Accepted Answer

A) True 
 B)False

Question 5

The buyer has the formal authority to select a supplier and to implement the procedures for
securing the good or service.

Accepted Answer

A) True 
 B)False

Question 6

The practice of using outside vendors to provide goods and services that were formerly produced in-house is known as _____.

Accepted Answer

A)  outsourcing 
B)  sole sourcing 
C)  supply chain inversion 
D)  leasing 
A)  outsourcing 
B)  sole sourcing 
C)  supply chain inversion 
D)  leasing

Question 7

The consumer market equivalent of new-task buying is limited problem solving.

Accepted Answer

A) True 
 B)False

Question 8

India is the most preferred destination for production offshoring.

Accepted Answer

A) True 
 B)False

Question 9

Organizational purchasing decisions tend to be standardized,resulting in the same procedures being used for both capital and expense items.

Accepted Answer

A) True 
 B)False

Question 10

Organizational buyers engage in multiple sourcing to:

Accepted Answer

A)  counter the possibility of increased buying power. 
B)  reduce the time taken to process purchasing decisions. 
C)  ensure that a single vendor's failure to deliver does not cause a shortage. 
D)  bring down costs related to transportation and warehousing. 
A)  counter the possibility of increased buying power. 
B)  reduce the time taken to process purchasing decisions. 
C)  ensure that a single vendor's failure to deliver does not cause a shortage. 
D)  bring down costs related to transportation and warehousing.

Question 11

Efforts to restore worn-out products to like-new condition is called _____.

Accepted Answer

A)  reverse engineering 
B)  merchandising 
C)  remanufacturing 
D)  over-engineering 
A)  reverse engineering 
B)  merchandising 
C)  remanufacturing 
D)  over-engineering

Question 12

The first stage in the eight-stage model of an organizational buying process involves:

Accepted Answer

A)  determining the characteristics and quantity of a needed good or service. 
B)  searching for and qualifying potential sources. 
C)  anticipating a problem, need, or opportunity and a general solution. 
D)  establishing specifications for a needed good or service. 
A)  determining the characteristics and quantity of a needed good or service. 
B)  searching for and qualifying potential sources. 
C)  anticipating a problem, need, or opportunity and a general solution. 
D)  establishing specifications for a needed good or service.

Question 13

A company that groups its customers into categories like manufacturers,wholesalers,and retailers based on buyer's product specifications,is using the psychographic segmentation approach.

Accepted Answer

A) True 
 B)False

Question 14

The organizational buying process has more steps than the consumer buying process,which can be attributed to:

Accepted Answer

A)  shorter durations of customer relationships formed in business markets. 
B)  less standardized products sold in consumer markets. 
C)  lack of interpersonal and environmental influences on consumer buying decisions. 
D)  relatively complex buying process with greater number of decision makers in business markets. 
A)  shorter durations of customer relationships formed in business markets. 
B)  less standardized products sold in consumer markets. 
C)  lack of interpersonal and environmental influences on consumer buying decisions. 
D)  relatively complex buying process with greater number of decision makers in business markets.

Question 15

The role of an influencer in a buying center is to:

Accepted Answer

A)  inform potential suppliers about the required specifications of the product. 
B)  select the supplier and implement the procedures for securing the good. 
C)  supply information to guide the evaluation of alternatives. 
D)  make the actual buying decision. 
A)  inform potential suppliers about the required specifications of the product. 
B)  select the supplier and implement the procedures for securing the good. 
C)  supply information to guide the evaluation of alternatives. 
D)  make the actual buying decision.

Question 16

The practice of purchasing goods and services from suppliers worldwide is known as _____.

Accepted Answer

A) merchandisers 
B) trade industries 
C) remanufacturing 
D) nearshoring 
E) end-use application segmentation
F)global sourcing
G)joint demand
H)inelastic demand
I)outsourcing
J)value analysis
K)gatekeeper
L)commercial market
M)reciprocity
N)vendor analysis
O)category advisor
P)modified rebuy
Q)demographic characteristics based segmentation
R)influencers
S)buyer
T)customer-based segmentation 
A) merchandisers 
B) trade industries 
C) remanufacturing 
D) nearshoring 
E) end-use application segmentation
F)global sourcing
G)joint demand
H)inelastic demand
I)outsourcing
J)value analysis
K)gatekeeper
L)commercial market
M)reciprocity
N)vendor analysis
O)category advisor
P)modified rebuy
Q)demographic characteristics based segmentation
R)influencers
S)buyer
T)customer-based segmentation

Question 17

Which of the following stages of the organizational buying process involves comparing vendors' proposals?

Accepted Answer

A)  Searching for potential sources 
B)  Acquiring and analyzing proposals 
C)  Recognizing and determining the characteristics of a need 
D)  Evaluating proposals and selecting suppliers 
A)  Searching for potential sources 
B)  Acquiring and analyzing proposals 
C)  Recognizing and determining the characteristics of a need 
D)  Evaluating proposals and selecting suppliers

Question 18

In business markets,discounts and distribution functions have proven to be ineffective in obtaining or keeping institutions as customers.

Accepted Answer

A) True 
 B)False

Question 19

Modified rebuys resemble routinized response behavior in consumer markets.

Accepted Answer

A) True 
 B)False

Question 20

Business marketers advertise primarily to announce new products and to attract potential customers.

Accepted Answer

A) True 
 B)False

Exam 7: Business-to-Business (B2B)Marketing

The organizational buying process differs from the consumer purchase process as the organizational buying process:

Which of the following is one of the four major categories that define the business market?

What are the different criteria involved in the selection of a vendor in a business buying process?

End-use application segmentation focuses on the precise way in which a business purchaser will use a product.

The buyer has the formal authority to select a supplier and to implement the procedures for securing the good or service.

The practice of using outside vendors to provide goods and services that were formerly produced in-house is known as _____.

The consumer market equivalent of new-task buying is limited problem solving.

India is the most preferred destination for production offshoring.

Organizational purchasing decisions tend to be standardized,resulting in the same procedures being used for both capital and expense items.

Organizational buyers engage in multiple sourcing to:

Efforts to restore worn-out products to like-new condition is called _____.

The first stage in the eight-stage model of an organizational buying process involves:

A company that groups its customers into categories like manufacturers,wholesalers,and retailers based on buyer's product specifications,is using the psychographic segmentation approach.

The organizational buying process has more steps than the consumer buying process,which can be attributed to:

The role of an influencer in a buying center is to:

The practice of purchasing goods and services from suppliers worldwide is known as _____.

Which of the following stages of the organizational buying process involves comparing vendors' proposals?

In business markets,discounts and distribution functions have proven to be ineffective in obtaining or keeping institutions as customers.

Modified rebuys resemble routinized response behavior in consumer markets.

Business marketers advertise primarily to announce new products and to attract potential customers.

Marketing: The Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, Ethics, and Social Responsibility

Social Media: Living in the Connected World

E-Business: Managing the Customer Experience

Consumer Behavior

Global Marketing

Market Segmentation, Targeting, and Positioning

Marketing Research and Sales Forecasting

Relationship Marketing and Customer Relationship Management (CRM)

Product and Service Strategies

Developing and Managing Brand and Product Categories

Marketing Channels and Supply Chain Management

Retailers, Wholesalers, and Direct Marketers

Integrated Marketing Communications, Advertising, and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

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Your Career in Marketing

Developing an Effective Marketing Plan

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