Question 1

The system for grouping businesses that grew out of the NAFTA accord is known as the:

Accepted Answer

A)  Standard Industrial Classification System. 
B)  Industrial Data Records System. 
C)  International Organization for Standardization of Business. 
D)  North American Industry Classification System. 
A)  Standard Industrial Classification System. 
B)  Industrial Data Records System. 
C)  International Organization for Standardization of Business. 
D)  North American Industry Classification System.

Question 2

Which of the following statements is true regarding the influence of organizational factors on purchasing decisions?

Accepted Answer

A)  Centralized buying tends to emphasize short-term results. 
B)  Personal selling skills and user preferences carry more weight in decentralized purchasing situations. 
C)  Consolidating vendor relationships increases the company's overall expenses. 
D)  Decentralized buying focuses more on long-term relationships with suppliers. 
A)  Centralized buying tends to emphasize short-term results. 
B)  Personal selling skills and user preferences carry more weight in decentralized purchasing situations. 
C)  Consolidating vendor relationships increases the company's overall expenses. 
D)  Decentralized buying focuses more on long-term relationships with suppliers.

Question 3

When a business purchaser reorders a product that has performed satisfactorily in the past without assessing competing options,the buying situation is called:

Accepted Answer

A)  a straight rebuy. 
B)  new-task buying. 
C)  value engineering. 
D)  a modified rebuy. 
A)  a straight rebuy. 
B)  new-task buying. 
C)  value engineering. 
D)  a modified rebuy.

Question 4

Janelle works in the purchasing department of an apparel manufacturing company and has the formal authority to select a supplier.Janelle is a(n):

Accepted Answer

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

Question 5

When Cannondale purchases aluminum for use in its bicycle frames,the company is participating in the commercial market.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is most likely to be the reason behind why business purchasers shift from straight rebuy to modified rebuy?

Accepted Answer

A)  In order to comply with the Sarbanes-Oxley Act 
B)  In order to purchase a new product for the first time 
C)  Change in the organizational hierarchy 
D)  Deterioration in supplier service or delivery 
A)  In order to comply with the Sarbanes-Oxley Act 
B)  In order to purchase a new product for the first time 
C)  Change in the organizational hierarchy 
D)  Deterioration in supplier service or delivery

Question 7

The term _____ refers to the use of outside vendors to produce goods and services that were formerly produced in-house.

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

When the B2B market is segmented on the basis of product specifications issued by buyers,it is known as _____ segmentation.

Accepted Answer

A)  customer-based 
B)  end-use application 
C)  demographic 
D)  purchase category 
A)  customer-based 
B)  end-use application 
C)  demographic 
D)  purchase category

Question 9

Once a search for suppliers is completed and the company makes the suppliers aware of its needs,the company will begin:

Accepted Answer

A)  obtaining feedback from its customers. 
B)  notifying the distribution channels of the new product introduction. 
C)  acquiring and analyzing proposals. 
D)  selecting an order routine. 
A)  obtaining feedback from its customers. 
B)  notifying the distribution channels of the new product introduction. 
C)  acquiring and analyzing proposals. 
D)  selecting an order routine.

Question 10

A firm has decided to purchase hybrid delivery vehicles in response to rising gasoline prices.Which step in the business buying process does this illustrate?

Accepted Answer

A)  Determining the characteristics of the needed product 
B)  Recognizing a problem or opportunity 
C)  Searching for qualified sources 
D)  Evaluating proposals and selecting suppliers 
A)  Determining the characteristics of the needed product 
B)  Recognizing a problem or opportunity 
C)  Searching for qualified sources 
D)  Evaluating proposals and selecting suppliers

Question 11

Which of the following is true of a buying center in an organization?

Accepted Answer

A)  The buying center is an integral part of a firm's formal organizational structure. 
B)  The composition of the buying center remains the same for all purchase situations. 
C)  The buying center includes everyone involved in any aspect of the buying process. 
D)  It is a group of people in an organization who are responsible for developing new product concepts. 
A)  The buying center is an integral part of a firm's formal organizational structure. 
B)  The composition of the buying center remains the same for all purchase situations. 
C)  The buying center includes everyone involved in any aspect of the buying process. 
D)  It is a group of people in an organization who are responsible for developing new product concepts.

Question 12

Merchandisers are trade sector buyers who secure needed products at the best possible prices.

Accepted Answer

A) True 
 B)False

Question 13

Firms usually sell fewer standardized products to organizational buyers than to ultimate consumers.

Accepted Answer

A) True 
 B)False

Question 14

Describe the three organizational buying situations.How do they correlate to the purchasing decisions of consumers?

Accepted Answer

B2B buying situation can be classified i

Question 15

A firm deciding to purchase more energy-efficient machines in response to rising fuel prices illustrates the first step in the business buying process.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following inventory practices seeks to boost efficiency by cutting inventories to absolute minimum levels?

Accepted Answer

A)  Inventory bounce 
B)  Just-in-time policy 
C)  Stock obsolescence 
D)  Perpetual inventory management 
A)  Inventory bounce 
B)  Just-in-time policy 
C)  Stock obsolescence 
D)  Perpetual inventory management

Question 17

If a company wants to concentrate its resources on its core business,it may be wise to outsource support functions.

Accepted Answer

A) True 
 B)False

Question 18

What are the stages involved in a business buying process?

Accepted Answer

The stages involved in a business buying

Question 19

Purchasing decisions in the B2B sectors are more complex,take longer to negotiate,and often include many levels of decision making.

Accepted Answer

A) True 
 B)False

Question 20

Adam,a purchasing agent for an automobile manufacturer,is making a list of payroll services suppliers available in the market.In which stage of the organizational buying process is Adam?

Accepted Answer

A)  Recognizing a problem or opportunity 
B)  Determining the characteristics and quantity of the needed service 
C)  Describing the characteristics of the needed service 
D)  Searching for and qualifying potential sources 
A)  Recognizing a problem or opportunity 
B)  Determining the characteristics and quantity of the needed service 
C)  Describing the characteristics of the needed service 
D)  Searching for and qualifying potential sources

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

The system for grouping businesses that grew out of the NAFTA accord is known as the:

Which of the following statements is true regarding the influence of organizational factors on purchasing decisions?

When a business purchaser reorders a product that has performed satisfactorily in the past without assessing competing options,the buying situation is called:

Janelle works in the purchasing department of an apparel manufacturing company and has the formal authority to select a supplier.Janelle is a(n):

When Cannondale purchases aluminum for use in its bicycle frames,the company is participating in the commercial market.

Which of the following is most likely to be the reason behind why business purchasers shift from straight rebuy to modified rebuy?

The term _____ refers to the use of outside vendors to produce goods and services that were formerly produced in-house.

When the B2B market is segmented on the basis of product specifications issued by buyers,it is known as _____ segmentation.

Once a search for suppliers is completed and the company makes the suppliers aware of its needs,the company will begin:

A firm has decided to purchase hybrid delivery vehicles in response to rising gasoline prices.Which step in the business buying process does this illustrate?

Which of the following is true of a buying center in an organization?

Merchandisers are trade sector buyers who secure needed products at the best possible prices.

Firms usually sell fewer standardized products to organizational buyers than to ultimate consumers.

Describe the three organizational buying situations.How do they correlate to the purchasing decisions of consumers?

A firm deciding to purchase more energy-efficient machines in response to rising fuel prices illustrates the first step in the business buying process.

Which of the following inventory practices seeks to boost efficiency by cutting inventories to absolute minimum levels?

If a company wants to concentrate its resources on its core business,it may be wise to outsource support functions.

What are the stages involved in a business buying process?

Purchasing decisions in the B2B sectors are more complex,take longer to negotiate,and often include many levels of decision making.

Adam,a purchasing agent for an automobile manufacturer,is making a list of payroll services suppliers available in the market.In which stage of the organizational buying process is Adam?

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