Question 1

_____ is the process of dividing a B2B market into groups on the basis of their size,sales revenues,or number of employees.

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 2

_____ is the practice of buying from suppliers who are also customers.

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 3

A company's buying center encompasses everyone who is involved in any aspect of its buying activity.

Accepted Answer

A) True 
 B)False

Question 4

B2B relationships tend to last longer than those in the consumer market.

Accepted Answer

A) True 
 B)False

Question 5

Institutional markets are characterized by widely diverse buying practices.

Accepted Answer

A) True 
 B)False

Question 6

The term "_____" is used to refer to the technical staff such as engineers who affect the buying decision by supplying information to guide evaluation of alternatives or by setting buying specifications.

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 7

_____ is the systematic study of the components of a purchase to determine the most cost-effective approach.

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 8

Centralized buying tends to emphasize short-term results rather than focusing on long-term relationships.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following is the largest segment of the business market?

Accepted Answer

A)  Trade industries, which include retailers, wholesalers, and resellers 
B)  The commercial market, which includes anyone who acquires products to support production of other goods and services 
C)  Government organizations, including the military, state, and federal governments 
D)  Institutions such as hospitals and churches 
A)  Trade industries, which include retailers, wholesalers, and resellers 
B)  The commercial market, which includes anyone who acquires products to support production of other goods and services 
C)  Government organizations, including the military, state, and federal governments 
D)  Institutions such as hospitals and churches

Question 10

The demand for computer microprocessor chips depends on the demand for personal computers.This is an example of a(n):

Accepted Answer

A)  joint demand. 
B)  derived demand. 
C)  volatile demand. 
D)  inelastic demand. 
A)  joint demand. 
B)  derived demand. 
C)  volatile demand. 
D)  inelastic demand.

Question 11

A straight rebuy is the business market equivalent of extended problem solving in the consumer market.

Accepted Answer

A) True 
 B)False

Question 12

A _____ is a trade industry vendor who develops a comprehensive procurement plan for a retail buyer.

Accepted Answer

A)  category captain 
B)  merchandiser 
C)  boundary spanner 
D)  gatekeeper 
A)  category captain 
B)  merchandiser 
C)  boundary spanner 
D)  gatekeeper

Question 13

Personal selling plays a much bigger role in consumer markets than in business markets.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following is true of expense items purchased by organizational buyers?

Accepted Answer

A)  The cost of these products are charged against the income of the company in the year of purchase. 
B)  The net income of these products is determined by charging a portion of their cost against the company's annual revenue. 
C)  These items are long lived business assets that must be depreciated over time. 
D)  All major expenses such as setting up new plants, equipments and machinery are included in this category. 
A)  The cost of these products are charged against the income of the company in the year of purchase. 
B)  The net income of these products is determined by charging a portion of their cost against the company's annual revenue. 
C)  These items are long lived business assets that must be depreciated over time. 
D)  All major expenses such as setting up new plants, equipments and machinery are included in this category.

Question 15

What is outsourcing? Why do firms outsource production of goods and services?

Accepted Answer

Outsourcing is the use of outside vendor

Question 16

Which of the following locations would be ideal for a U.S.firm hoping to nearshore its operations?

Accepted Answer

A)  Poland 
B)  China 
C)  India 
D)  Mexico 
A)  Poland 
B)  China 
C)  India 
D)  Mexico

Question 17

Institutions are a major component of the business market that:

Accepted Answer

A)  tend to have greater financial resources than industrial customers. 
B)  consist of wholesalers and retailers, who sell the products they buy to final consumers. 
C)  include wide variety of organizations that often have diverse buying practices. 
D)  acquire products mainly to indirectly support the production of other goods and services. 
A)  tend to have greater financial resources than industrial customers. 
B)  consist of wholesalers and retailers, who sell the products they buy to final consumers. 
C)  include wide variety of organizations that often have diverse buying practices. 
D)  acquire products mainly to indirectly support the production of other goods and services.

Question 18

Zardo,Inc.divides its customers into the following categories: manufacturers,retailers,government agencies,and not-for-profit institutions.Which of the following types of segmentations is being used by Zardo?

Accepted Answer

A)  Segmentation by end-use application 
B)  Segmentation by customer type 
C)  Segmentation by demographic characteristics 
D)  Segmentation by purchase categories 
A)  Segmentation by end-use application 
B)  Segmentation by customer type 
C)  Segmentation by demographic characteristics 
D)  Segmentation by purchase categories

Question 19

Global sourcing involves contracting with suppliers from around the world to purchase goods and services.

Accepted Answer

A) True 
 B)False

Question 20

A buying center is a basic component of a firm's formal organizational structure.

Accepted Answer

A) True 
 B)False

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

_____ is the process of dividing a B2B market into groups on the basis of their size,sales revenues,or number of employees.

_____ is the practice of buying from suppliers who are also customers.

A company's buying center encompasses everyone who is involved in any aspect of its buying activity.

B2B relationships tend to last longer than those in the consumer market.

Institutional markets are characterized by widely diverse buying practices.

The term "_____" is used to refer to the technical staff such as engineers who affect the buying decision by supplying information to guide evaluation of alternatives or by setting buying specifications.

_____ is the systematic study of the components of a purchase to determine the most cost-effective approach.

Centralized buying tends to emphasize short-term results rather than focusing on long-term relationships.

Which of the following is the largest segment of the business market?

The demand for computer microprocessor chips depends on the demand for personal computers.This is an example of a(n):

A straight rebuy is the business market equivalent of extended problem solving in the consumer market.

A _____ is a trade industry vendor who develops a comprehensive procurement plan for a retail buyer.

Personal selling plays a much bigger role in consumer markets than in business markets.

Which of the following is true of expense items purchased by organizational buyers?

What is outsourcing? Why do firms outsource production of goods and services?

Which of the following locations would be ideal for a U.S.firm hoping to nearshore its operations?

Institutions are a major component of the business market that:

Zardo,Inc.divides its customers into the following categories: manufacturers,retailers,government agencies,and not-for-profit institutions.Which of the following types of segmentations is being used by Zardo?

Global sourcing involves contracting with suppliers from around the world to purchase goods and services.

A buying center is a basic component of a firm's formal organizational structure.

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

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Market Segmentation, Targeting, and Positioning

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Developing and Managing Brand and Product Categories

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Retailers, Wholesalers, and Direct Marketers

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Personal Selling and Sales Promotion

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