Question 1

Relationships in consumer markets are often more complex than those in business-to-business markets.

Accepted Answer

A) True 
 B)False

Question 2

A negotiation process wherein each marketer develops its offer,including a price that will satisfy the criteria determined by the customer's problem,need,or opportunity,is known as:

Accepted Answer

A)  competitive bidding. 
B)  decentralized buying. 
C)  collective underwriting. 
D)  systems integration. 
A)  competitive bidding. 
B)  decentralized buying. 
C)  collective underwriting. 
D)  systems integration.

Question 3

Buying practices can differ among institutions of the same type.

Accepted Answer

A) True 
 B)False

Question 4

Businesses choose outsourcing as an alternative to making goods in-house or providing in-house services when:

Accepted Answer

A)  they want to reduce the amount of depreciation indicated on their books of account. 
B)  proprietary technology has the potential to raise security concerns. 
C)  conflicts arise between nonunion outside workers and in-house union employees. 
D)  the company needs to reduce costs to remain competitive. 
A)  they want to reduce the amount of depreciation indicated on their books of account. 
B)  proprietary technology has the potential to raise security concerns. 
C)  conflicts arise between nonunion outside workers and in-house union employees. 
D)  the company needs to reduce costs to remain competitive.

Question 5

Capital items are items that are consumed within short time periods.

Accepted Answer

A) True 
 B)False

Question 6

International buying centers often involve more participants than U.S.companies involve.

Accepted Answer

A) True 
 B)False

Question 7

The General Services Administration (GSA)is a central management agency of the U.S.federal government that:

Accepted Answer

A)  validates the laws and regulations governing business sales transactions in the United States. 
B)  regulates purchases taking place in the mining industry. 
C)  procures goods and services and is responsible for property management and information resources management. 
D)  regulates purchases taking place in the healthcare industry. 
A)  validates the laws and regulations governing business sales transactions in the United States. 
B)  regulates purchases taking place in the mining industry. 
C)  procures goods and services and is responsible for property management and information resources management. 
D)  regulates purchases taking place in the healthcare industry.

Question 8

_____ refers to a first-time or unique purchase situation that requires considerable effort by decision makers.

Accepted Answer

A)  Straight rebuying 
B)  New-task buying 
C)  Primary buying 
D)  Modified rebuying 
A)  Straight rebuying 
B)  New-task buying 
C)  Primary buying 
D)  Modified rebuying

Question 9

The government category of the B2B market primarily buys products:

Accepted Answer

A)  to sell it to the final consumers. 
B)  to provide some form of public benefit. 
C)  to export them to other countries. 
D)  to improve its resale value. 
A)  to sell it to the final consumers. 
B)  to provide some form of public benefit. 
C)  to export them to other countries. 
D)  to improve its resale value.

Question 10

Which of the following buying center participants chooses a good or service,although another person may have the formal authority to complete the sale?

Accepted Answer

A)  Decider 
B)  Gatekeeper 
C)  Boundary spanner 
D)  Influencer 
A)  Decider 
B)  Gatekeeper 
C)  Boundary spanner 
D)  Influencer

Question 11

Depreciation is an accounting term that refers to charging a portion of an expense item's cost against the company's annual revenue for purposes of determining their net income.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following is true regarding leasing needed products from other organizations?

Accepted Answer

A)  It requires a high level of capital commitment. 
B)  It increases the sunk costs incurred by a firm. 
C)  It provides flexibility for a growing business allowing it to easily upgrade when needed. 
D)  It makes it difficult for a firm to customize the product according to their needs. 
A)  It requires a high level of capital commitment. 
B)  It increases the sunk costs incurred by a firm. 
C)  It provides flexibility for a growing business allowing it to easily upgrade when needed. 
D)  It makes it difficult for a firm to customize the product according to their needs.

Question 13

When firms in business markets are grouped based on their sales revenues,they are said to be segmented by:

Accepted Answer

A)  customer type. 
B)  purchase category. 
C)  end-use application. 
D)  demographic characteristics. 
A)  customer type. 
B)  purchase category. 
C)  end-use application. 
D)  demographic characteristics.

Question 14

Not-for-profit organizations are considered to be a part of the business market.

Accepted Answer

A) True 
 B)False

Question 15

Describe the major approaches used by marketers to segment business-to-business markets.

Accepted Answer

The four most commonly used approaches t

Question 16

The practice of moving jobs to vendors in countries close to the business's home country is referred to 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 components of B2B market includes all individuals and firms that acquire goods and services to support production of other goods and services?

Accepted Answer

A)  Stock exchanges 
B)  Commercial markets 
C)  Governmental organizations 
D)  Financial institutions 
A)  Stock exchanges 
B)  Commercial markets 
C)  Governmental organizations 
D)  Financial institutions

Question 18

Which of the following is the final step in the business buying process?

Accepted Answer

A)  Selecting an order routine 
B)  Evaluating proposals and selecting suppliers 
C)  Obtaining feedback and evaluating performance 
D)  Acquiring and analyzing proposals 
A)  Selecting an order routine 
B)  Evaluating proposals and selecting suppliers 
C)  Obtaining feedback and evaluating performance 
D)  Acquiring and analyzing proposals

Question 19

A(n)_____ is a buying center participant who has the formal authority to select a supplier and to implement the procedures for securing a good or service.

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 20

The primary purchasing need of an organization is meeting the demands of its own customers.

Accepted Answer

A) True 
 B)False

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

Relationships in consumer markets are often more complex than those in business-to-business markets.

A negotiation process wherein each marketer develops its offer,including a price that will satisfy the criteria determined by the customer's problem,need,or opportunity,is known as:

Buying practices can differ among institutions of the same type.

Businesses choose outsourcing as an alternative to making goods in-house or providing in-house services when:

Capital items are items that are consumed within short time periods.

International buying centers often involve more participants than U.S.companies involve.

The General Services Administration (GSA)is a central management agency of the U.S.federal government that:

_____ refers to a first-time or unique purchase situation that requires considerable effort by decision makers.

The government category of the B2B market primarily buys products:

Which of the following buying center participants chooses a good or service,although another person may have the formal authority to complete the sale?

Depreciation is an accounting term that refers to charging a portion of an expense item's cost against the company's annual revenue for purposes of determining their net income.

Which of the following is true regarding leasing needed products from other organizations?

When firms in business markets are grouped based on their sales revenues,they are said to be segmented by:

Not-for-profit organizations are considered to be a part of the business market.

Describe the major approaches used by marketers to segment business-to-business markets.

The practice of moving jobs to vendors in countries close to the business's home country is referred to as _____.

Which of the following components of B2B market includes all individuals and firms that acquire goods and services to support production of other goods and services?

Which of the following is the final step in the business buying process?

A(n)_____ is a buying center participant who has the formal authority to select a supplier and to implement the procedures for securing a good or service.

The primary purchasing need of an organization is meeting the demands of its own 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

Pricing Strategies

Your Career in Marketing

Developing an Effective Marketing Plan

Financial Analysis in Marketing

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