Question 1

Describe the three major types of organizational markets.

Accepted Answer

There are three types of organizational markets:
An industrial market is a market in which a business reprocesses a good or service it buys before selling it again to the buyer.
A reseller market is composed of wholesalers and retailers who buy physical products and resell them again without reprocessing.
A government market is comprised of federal, provincial, and local agencies that buy goods and services for the constituents they serve.
Some students may mention non-profit organizations as organizational buyers.Increasingly, they are behaving much like profit-oriented businesses in terms of their business practices (including purchase behaviour).

Question 2

Which type of buyer-seller interaction is demonstrated when Evergreen Motors (EM) purchases Mark & Drew transmissions, and Mark & Drew buys trucks and cars from EM?

Accepted Answer

A) exclusive dealing 
B) monopolistic arrangement 
C) supply partnership 
D) non-competitive bidding 
A) exclusive dealing 
B) monopolistic arrangement 
C) supply partnership 
D) non-competitive bidding C

Question 3

Which of the following is a market characteristic of products and services purchased within an organizational context?

Accepted Answer

A) The focus is on delivery time and post-sale service. 
B) Raw and semi-finished goods are predominantly purchased. 
C) Demand for industrial products and services is derived. 
D) Goods and services are purchased on the basis of specifications that are technical in nature. 
A) The focus is on delivery time and post-sale service. 
B) Raw and semi-finished goods are predominantly purchased. 
C) Demand for industrial products and services is derived. 
D) Goods and services are purchased on the basis of specifications that are technical in nature. C

Question 4

Regardless of whether there is an increase or decrease of the price of a B2B product, customers buying the same quantity signifies an inelastic demand for that product.

Accepted Answer

A) True 
 B)False

Question 5

The Scotts Company manufactures and sells packaged lawn fertilizers to The Home Depot.The Home Depot sells these products to the ultimate consumer-the homeowner.The Home Depot is a(n) _____.

Accepted Answer

A) service provider 
B) municipal agency 
C) reseller 
D) industrial firm 
A) service provider 
B) municipal agency 
C) reseller 
D) industrial firm

Question 6

Large firms that engage in many different activities are given as many North American Industry Classification System (NAICS) codes as the number of activities they engage in.

Accepted Answer

A) True 
 B)False

Question 7

In selling business equipment, Xerox has found social media incredibly useful for keeping potential customers informed and engaged.This reflects

Accepted Answer

A) Derived demand 
B) NAICS 
C) Reseller markets 
D) Content marketing 
A) Derived demand 
B) NAICS 
C) Reseller markets 
D) Content marketing

Question 8

The practice of organizational buyers attempting to work with suppliers to make their products, services, and capabilities fit the buyer's needs is called _____.

Accepted Answer

A) low pricing strategy 
B) high quality protocol 
C) reverse marketing 
D) traditional supply chain management 
A) low pricing strategy 
B) high quality protocol 
C) reverse marketing 
D) traditional supply chain management

Question 9

Derived demand means the demand for industrial products and services is driven by, or derived from:

Accepted Answer

A) mathematical formulas and statistical models. 
B) the gross national product (GNP). 
C) demand for consumer products and services. 
D) demand for industrial goods. 
A) mathematical formulas and statistical models. 
B) the gross national product (GNP). 
C) demand for consumer products and services. 
D) demand for industrial goods.

Question 10

Wholesalers and retailers that buy physical products and resell them again without any reprocessing are _____.

Accepted Answer

A) industrial firms 
B) resellers 
C) non-intermediaries 
D) facilitators 
A) industrial firms 
B) resellers 
C) non-intermediaries 
D) facilitators

Question 11

Many Canadians participate in events like "Run for the Cure" and United Way fundraising campaigns.These organizations purchase significant amounts of goods and services as

Accepted Answer

A) Industrial buyers 
B) Non-profit organizations 
C) Resellers 
D) Government buyers 
A) Industrial buyers 
B) Non-profit organizations 
C) Resellers 
D) Government buyers

Question 12

_____ is the marketing of products to companies, governments, or not-for-profit organizations for use in the creation of goods and services that they then produce and market to others.

Accepted Answer

A) Micromarketing 
B) Retail marketing 
C) Business marketing 
D) Consumer marketing 
A) Micromarketing 
B) Retail marketing 
C) Business marketing 
D) Consumer marketing

Question 13

In which stage would a company's marketing research and sales department observe the improvement of its competitors?

Accepted Answer

A) problem recognition 
B) information search 
C) evaluation of alternatives 
D) purchase decision 
A) problem recognition 
B) information search 
C) evaluation of alternatives 
D) purchase decision

Question 14

Independent e-marketplaces charge a fee for their services and exist in settings that have thousands of geographically dispersed buyers and sellers.

Accepted Answer

A) True 
 B)False

Question 15

Polyron Inc.reprocesses the products it purchases before selling it to the next buyer.Polyron Inc.is an industrial firm.

Accepted Answer

A) True 
 B)False

Question 16

What are the characteristics of the organizational buying process?

Accepted Answer

Technically qualified and professional b

Question 17

Consumer demand for products and services is derived.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is an organizational buyer?

Accepted Answer

A) Girl Guides buying mint cookies to sell in their local neighbourhood to raise funds for charity. 
B) A girl buying Timbits from Tim Hortons. 
C) A couple buying a mega pack of cleaning supplies from Costco for their cottage. 
D) A group of friends pooling their funds and buying a Lotto 6/49 ticket. 
A) Girl Guides buying mint cookies to sell in their local neighbourhood to raise funds for charity. 
B) A girl buying Timbits from Tim Hortons. 
C) A couple buying a mega pack of cleaning supplies from Costco for their cottage. 
D) A group of friends pooling their funds and buying a Lotto 6/49 ticket.

Question 19

_____ makes easier the measurement of economic activity in Canada, Mexico, and the United States by providing common industry definitions for these countries.

Accepted Answer

A) Strategic International Classification (SI
C)  
B) Federated Domestic and International Classification (FDI
C)  
C) Federated Trade Codification (FT
C)  
D) North American Industry Classification System (NAICS) 
A) Strategic International Classification (SI
C)  
B) Federated Domestic and International Classification (FDI
C)  
C) Federated Trade Codification (FT
C)  
D) North American Industry Classification System (NAICS)

Question 20

A company that runs its trucks on a mixture of petroleum and ethanol buys its ethanol from the only large supplier of ethanol that has an ethanol manufacturing facility in the province and is able to meet the trucking company's delivery schedules.The selection of ethanol supplier is based on _____.

Accepted Answer

A) organizational buying criteria 
B) derived demand factors 
C) marginal demand 
D) profit margins 
A) organizational buying criteria 
B) derived demand factors 
C) marginal demand 
D) profit margins

Describe the three major types of organizational markets.

Which type of buyer-seller interaction is demonstrated when Evergreen Motors (EM) purchases Mark & Drew transmissions, and Mark & Drew buys trucks and cars from EM?

Which of the following is a market characteristic of products and services purchased within an organizational context?

Regardless of whether there is an increase or decrease of the price of a B2B product, customers buying the same quantity signifies an inelastic demand for that product.

The Scotts Company manufactures and sells packaged lawn fertilizers to The Home Depot.The Home Depot sells these products to the ultimate consumer-the homeowner.The Home Depot is a(n) _____.

Large firms that engage in many different activities are given as many North American Industry Classification System (NAICS) codes as the number of activities they engage in.

In selling business equipment, Xerox has found social media incredibly useful for keeping potential customers informed and engaged.This reflects

The practice of organizational buyers attempting to work with suppliers to make their products, services, and capabilities fit the buyer's needs is called _____.

Derived demand means the demand for industrial products and services is driven by, or derived from:

Wholesalers and retailers that buy physical products and resell them again without any reprocessing are _____.

Many Canadians participate in events like "Run for the Cure" and United Way fundraising campaigns.These organizations purchase significant amounts of goods and services as

_____ is the marketing of products to companies, governments, or not-for-profit organizations for use in the creation of goods and services that they then produce and market to others.

In which stage would a company's marketing research and sales department observe the improvement of its competitors?

Independent e-marketplaces charge a fee for their services and exist in settings that have thousands of geographically dispersed buyers and sellers.

Polyron Inc.reprocesses the products it purchases before selling it to the next buyer.Polyron Inc.is an industrial firm.

What are the characteristics of the organizational buying process?

Consumer demand for products and services is derived.

Which of the following is an organizational buyer?

_____ makes easier the measurement of economic activity in Canada, Mexico, and the United States by providing common industry definitions for these countries.

A company that runs its trucks on a mixture of petroleum and ethanol buys its ethanol from the only large supplier of ethanol that has an ethanol manufacturing facility in the province and is able to meet the trucking company's delivery schedules.The selection of ethanol supplier is based on _____.

Marketing Fundamentals

The Marketing Environment

Consumer Behaviour

Market Research Metrics and Analytics

Segmentation Targeting and Positioning

Products and Brands

New Product Development

Pricing

Marketing Channels and Supply Chain

Retailing and Wholesaling

Marketing Communications

Digital Marketing Communications

Customer Relationship Management

Marketing and Strategic Planning

Filters

Exam 5: B2B Marketing

Describe the three major types of organizational markets.

Which type of buyer-seller interaction is demonstrated when Evergreen Motors (EM) purchases Mark & Drew transmissions, and Mark & Drew buys trucks and cars from EM?

Which of the following is a market characteristic of products and services purchased within an organizational context?

Regardless of whether there is an increase or decrease of the price of a B2B product, customers buying the same quantity signifies an inelastic demand for that product.

The Scotts Company manufactures and sells packaged lawn fertilizers to The Home Depot.The Home Depot sells these products to the ultimate consumer-the homeowner.The Home Depot is a(n) _____.

Large firms that engage in many different activities are given as many North American Industry Classification System (NAICS) codes as the number of activities they engage in.

In selling business equipment, Xerox has found social media incredibly useful for keeping potential customers informed and engaged.This reflects

The practice of organizational buyers attempting to work with suppliers to make their products, services, and capabilities fit the buyer's needs is called _____.

Derived demand means the demand for industrial products and services is driven by, or derived from:

Wholesalers and retailers that buy physical products and resell them again without any reprocessing are _____.

Many Canadians participate in events like "Run for the Cure" and United Way fundraising campaigns.These organizations purchase significant amounts of goods and services as

_____ is the marketing of products to companies, governments, or not-for-profit organizations for use in the creation of goods and services that they then produce and market to others.

In which stage would a company's marketing research and sales department observe the improvement of its competitors?

Independent e-marketplaces charge a fee for their services and exist in settings that have thousands of geographically dispersed buyers and sellers.

Polyron Inc.reprocesses the products it purchases before selling it to the next buyer.Polyron Inc.is an industrial firm.

What are the characteristics of the organizational buying process?

Consumer demand for products and services is derived.

Which of the following is an organizational buyer?

_____ makes easier the measurement of economic activity in Canada, Mexico, and the United States by providing common industry definitions for these countries.

A company that runs its trucks on a mixture of petroleum and ethanol buys its ethanol from the only large supplier of ethanol that has an ethanol manufacturing facility in the province and is able to meet the trucking company's delivery schedules.The selection of ethanol supplier is based on _____.

Marketing Fundamentals

The Marketing Environment

Consumer Behaviour

Market Research Metrics and Analytics

Segmentation Targeting and Positioning

Products and Brands

New Product Development

Pricing

Marketing Channels and Supply Chain

Retailing and Wholesaling

Marketing Communications

Digital Marketing Communications

Customer Relationship Management

Marketing and Strategic Planning

Filters