Exam 7: Business Marketing

A routine purchasing situation in which the purchaser is not looking for new information or at other suppliers is called a:

A small retailer hired an accountant to run its payroll and pay its taxes. The accountant provided the retailer with:

Which of the following is the BEST example of an institution market?

A decline in the availability of bicycle handle bars will decrease Huffy Bicycle Company's production of bicycles.Decreased production in turn reduces Huffy's demand for bicycle seats.This is because the products in this situation have _____ demand.

Name and briefly describe five of the major differences between business and consumer markets.

Claxton Fruitcakes One common Christmas tradition in many households is the Claxton fruitcake. The fruitcake bakery in Claxton, Georgia, makes about 6 million pounds of fruitcake annually and has $12 million in sales. One fruitcake batch weighs 375 pounds. About 70 percent of that weight is fruits and nuts. A single batch is divided into 34 loaf pans that hold 11 pounds each. Loaves are cooked for 100 minutes at 375 degrees. The bakery can cook 6,000 pounds at a time. During the baking season (August-December), the bakery uses a tractor-trailer load of raisins each day. The suggested retail price of a one-pound Claxton fruitcake is $3.69. -Refer to Claxton Fruitcakes.In terms of business-to-business products,the flour used in fruitcakes is an example of:

PAS Systems has developed an unobtrusive flashlight-alcohol detector.The flashlight readings are inadmissible in court but are used by police officers to decide whether to hold someone for a sobriety test.Each one costs $600.The manufacturer assembles a breathalyzer from one supplier with a slightly modified flashlight case from another supplier to make the new product.The breathalyzer and the flashlight case are examples of:

Baseball Dirt Dirt is not dirt when it comes to baseball fields. About two-thirds of the pro baseball fields got their dirt from a dirt farm in New Jersey called Partac Peat. The company markets a secret mix for the infield (resilient), the warning track (extra crunchy), and the pitcher's mounds (firm). Mounds come in red, brown, orange, and gray colors. Roger Bossard, the White Sox head groundskeeper, scouted nationwide for dirt before settling on the mix provided by Partac Peat. (He uses sand under the grassy areas of the playing field.) -Refer to Baseball Dirt.An increase in the price of Partac Peat will not affect the demand for the product because many groundskeepers believe there is no substitute for the product.Thus,demand for Partac Peat is:

Personal selling is pervasive in organizational markets because:

Which of the following is the BEST example of accessory equipment?

Electric cars will increase the demand for electricity,which will then dramatically increase demand for the equipment needed to provide consumers with the electricity.This dramatic increase is due to the:

Lucent Technologies Because AT&T Corporation wanted to become a big player in the booming market for outsourcing computer services, it set up Lucent Technologies to manage corporate clients' worldwide computer networks. Lucent Technologies assists corporations in global network and computer management by drawing on AT&T's worldwide digital network and its computer hardware and software businesses. It also relies on the expertise of technicians at Bell Laboratories. -Refer to Lucent Technologies.Consumers utilizing the First National Bank of Chicago to purchase U.S.Treasury bonds will affect the demand for and use of the AT&T network computer system capabilities.This is called:

IBM and Cisco work together to provide banks with the products and services they need to manage their multiple locations.In other words,the two companies have joined in a:

Rock-Tenn Rock-Tenn produces packaging products. They make cartons that will hold a dozen Dunkin' Donuts, waffle fries for Chik-fil-A, Gillette razors, Haagen -Daz ice cream, express mail envelopes for FedEx and much more. Rock-Tenn business fluctuates depending on consumer demand. As plastic products become more expensive companies turn to cardboard and paper to package their products. -Refer to Rock-Tenn.Rock-Tenn makes paper products for companies to use in their product and service offerings.This is an example of _____.

Lanover Manufacturing supplies windshield wiper blades to General Motors and Ford.A sudden jump in the price of rubber and its substitutes has forced Lanover and other wiper blades manufacturers to double the price of the wiper blades.This increase in price has not affected sales volume for wiper blades.The price change did not change demand for windshield wiper blades because demand for this product by business customers is:

At an accounting firm,the secretary orders printer cartridges,cases of paper,paper clips,and other small items.These items would be classified as:

Another name for business supplies like pens,paper,and file folders is:

Another commonly used term for accessory equipment is installations.

While consumer and business markets differ in many ways,the volatility of demand for products is about the same for each type of market.

A particular segment of the business market includes those individuals and organizations that purchase goods and services for the purpose of making a profit.They achieve this goal by using purchased goods and services to make other goods,to become part of other goods,or to facilitate the daily operations of the organization.This group is called the _____ segment of the business market.