Question 1

Reverse auctions:

Accepted Answer

A) are seller-initiated. 
B) benefit the sellers significantly more than the buyers. 
C) have a decreasing number of bidders as the auction progresses. 
D) benefit the buyers more than the sellers. 
A) are seller-initiated. 
B) benefit the sellers significantly more than the buyers. 
C) have a decreasing number of bidders as the auction progresses. 
D) benefit the buyers more than the sellers.

Question 2

Differentiate between traditional and reverse auctions.

Accepted Answer

With a traditional auction, there is one

Question 3

Which of the following is true of a reverse auction?

Accepted Answer

A) Would-be buyers are invited to bid in competition with each other. 
B) As the auction progresses, more would-be sellers become involved. 
C) It benefits the sellers significantly more than the buyers. 
D) The bidding is sequential-it occurs in order, one at a time. 
A) Would-be buyers are invited to bid in competition with each other. 
B) As the auction progresses, more would-be sellers become involved. 
C) It benefits the sellers significantly more than the buyers. 
D) The bidding is sequential-it occurs in order, one at a time.

Question 4

The reseller market includes:

Accepted Answer

A) manufacturers and service providers. 
B) Retailers and wholesalers. 
C) government agencies and service providers. 
D) agricultural markets and the mining industry. 
A) manufacturers and service providers. 
B) Retailers and wholesalers. 
C) government agencies and service providers. 
D) agricultural markets and the mining industry.

Question 5

In a buying centre, _____ have formal authority and responsibility to select the supplier and negotiate the terms of a contract.

Accepted Answer

A) gatekeepers 
B) deciders 
C) buyers 
D) influencers 
A) gatekeepers 
B) deciders 
C) buyers 
D) influencers

Question 6

Content marketing seeks to keep customers engaged through informative and timely communications.

Accepted Answer

A) True 
 B)False

Question 7

The North American Industry Classification System (NAICS) permits a firm to:

Accepted Answer

A) find the NAICS codes of its present customers and then obtain NAICS-coded lists for similar firms. 
B) get the names of the purchasing agents of all prospective customers. 
C) sell to any company within North America as long as it is not a monopoly. 
D) engage in benchmarking with companies manufacturing and/or marketing similar products. 
A) find the NAICS codes of its present customers and then obtain NAICS-coded lists for similar firms. 
B) get the names of the purchasing agents of all prospective customers. 
C) sell to any company within North America as long as it is not a monopoly. 
D) engage in benchmarking with companies manufacturing and/or marketing similar products.

Question 8

The total purchases of ultimate consumers in a year are always far greater than those of organizational buyers.

Accepted Answer

A) True 
 B)False

Question 9

At which stage in the buying decision process will a firm visit potential suppliers to assess their facilities?

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 10

Which of the following statements accurately characterizes buying behaviour in organizational markets?

Accepted Answer

A) Organizational buying behaviour is similar to consumer buying behaviour since individuals are involved in both processes. 
B) Demand for industrial products is elastic instead of inelastic or derived because companies, not ultimate consumers, determine the quantity of goods produced. 
C) Fewer customers typically exist in organizational markets than in consumer markets. 
D) Forecasting is not as important in organizational buying as in consumer buying. 
A) Organizational buying behaviour is similar to consumer buying behaviour since individuals are involved in both processes. 
B) Demand for industrial products is elastic instead of inelastic or derived because companies, not ultimate consumers, determine the quantity of goods produced. 
C) Fewer customers typically exist in organizational markets than in consumer markets. 
D) Forecasting is not as important in organizational buying as in consumer buying.

Question 11

Franco, a purchasing manager, reorders an existing product from a list of acceptable suppliers without doing any quality check.This is an example of a _____.

Accepted Answer

A) new buy 
B) straight rebuy 
C) modified rebuy 
D) standard buy 
A) new buy 
B) straight rebuy 
C) modified rebuy 
D) standard buy

Question 12

Organizational buying behaviour is the process by which organizations determine the need for goods and then choose among alternative suppliers.

Accepted Answer

A) True 
 B)False

Question 13

For organizational buyers, price is not always the most important criteria.

Accepted Answer

A) True 
 B)False

Question 14

What are the five stages of the organizational buying process?

Accepted Answer

The five stages of the organiz

Question 15

Which of the following is true about organizational buyers?

Accepted Answer

A) Their total purchases in a year are far more than that of ultimate consumers. 
B) They purchase and lease smaller amounts of supplies than ultimate consumers. 
C) They purchase only business services for their firm. 
D) They purchase only raw materials for their firm. 
A) Their total purchases in a year are far more than that of ultimate consumers. 
B) They purchase and lease smaller amounts of supplies than ultimate consumers. 
C) They purchase only business services for their firm. 
D) They purchase only raw materials for their firm.

Question 16

Marker Jimmy's Co., a large cocoa-bean processor, buys cocoa beans and converts the beans into cocoa powder and cocoa butter, which is sold to companies that manufacture consumer products containing chocolate.Marker Jimmy's Co.is operating in a(n) _____ market.

Accepted Answer

A) reseller 
B) vertical 
C) industrial 
D) business-to-consumer 
A) reseller 
B) vertical 
C) industrial 
D) business-to-consumer

Question 17

The small business services department at Global Information Services is aimed at providing small business owners with information and assistance to promote growth of their companies.The existence of such a department is an example of market segmentation based on _____.

Accepted Answer

A) type of customer 
B) size of customer 
C) type of buying situation 
D) customer location 
A) type of customer 
B) size of customer 
C) type of buying situation 
D) customer location

Question 18

An industrial firm:

Accepted Answer

A) is distinguished by the amount of energy it uses and the potential for pollution to the environment. 
B) in some way reprocesses a product or service it buys before selling it again to the next buyer. 
C) employs more than 500 people, who are paid minimum wages with few or no benefits. 
D) deals exclusively with federal, provincial, and local governments, and often mediates governmental agency disputes. 
A) is distinguished by the amount of energy it uses and the potential for pollution to the environment. 
B) in some way reprocesses a product or service it buys before selling it again to the next buyer. 
C) employs more than 500 people, who are paid minimum wages with few or no benefits. 
D) deals exclusively with federal, provincial, and local governments, and often mediates governmental agency disputes.

Question 19

P & P is a global leader in pallet and container pooling services.Pallets are used for transporting and storing new appliances such as stoves, freezers, and refrigerators.Which of the following is true about the demand for P & P's pallets?

Accepted Answer

A) There is a high consumer demand for P & P's pallets. 
B) There is elastic demand for P & P's pallets independent of the sales of pallets but tied to the sales of appliances. 
C) There is derived demand for P & P's pallets because demand for the pallets is tied to demand for the appliances. 
D) There is inelastic demand for P & P's pallets tied to the cost of the components of the pallets. 
A) There is a high consumer demand for P & P's pallets. 
B) There is elastic demand for P & P's pallets independent of the sales of pallets but tied to the sales of appliances. 
C) There is derived demand for P & P's pallets because demand for the pallets is tied to demand for the appliances. 
D) There is inelastic demand for P & P's pallets tied to the cost of the components of the pallets.

Question 20

Fasteasytrade.com is an online trading community that brings together more than 50,000 suppliers and 4,000 buyers from various industries.It handles more than $30 billion in orders annually. Fasteasytrade.com is a(n) _____.

Accepted Answer

A) e-marketplace 
B) Web stock exchange 
C) Web commerce room 
D) consortium 
A) e-marketplace 
B) Web stock exchange 
C) Web commerce room 
D) consortium

Reverse auctions:

Differentiate between traditional and reverse auctions.

Which of the following is true of a reverse auction?

The reseller market includes:

In a buying centre, _____ have formal authority and responsibility to select the supplier and negotiate the terms of a contract.

Content marketing seeks to keep customers engaged through informative and timely communications.

The North American Industry Classification System (NAICS) permits a firm to:

The total purchases of ultimate consumers in a year are always far greater than those of organizational buyers.

At which stage in the buying decision process will a firm visit potential suppliers to assess their facilities?

Which of the following statements accurately characterizes buying behaviour in organizational markets?

Franco, a purchasing manager, reorders an existing product from a list of acceptable suppliers without doing any quality check.This is an example of a _____.

Organizational buying behaviour is the process by which organizations determine the need for goods and then choose among alternative suppliers.

For organizational buyers, price is not always the most important criteria.

What are the five stages of the organizational buying process?

Which of the following is true about organizational buyers?

Marker Jimmy's Co., a large cocoa-bean processor, buys cocoa beans and converts the beans into cocoa powder and cocoa butter, which is sold to companies that manufacture consumer products containing chocolate.Marker Jimmy's Co.is operating in a(n) _____ market.

The small business services department at Global Information Services is aimed at providing small business owners with information and assistance to promote growth of their companies.The existence of such a department is an example of market segmentation based on _____.

An industrial firm:

P & P is a global leader in pallet and container pooling services.Pallets are used for transporting and storing new appliances such as stoves, freezers, and refrigerators.Which of the following is true about the demand for P & P's pallets?

Fasteasytrade.com is an online trading community that brings together more than 50,000 suppliers and 4,000 buyers from various industries.It handles more than $30 billion in orders annually. Fasteasytrade.com is a(n) _____.

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

Reverse auctions:

Differentiate between traditional and reverse auctions.

Which of the following is true of a reverse auction?

The reseller market includes:

In a buying centre, _____ have formal authority and responsibility to select the supplier and negotiate the terms of a contract.

Content marketing seeks to keep customers engaged through informative and timely communications.

The North American Industry Classification System (NAICS) permits a firm to:

The total purchases of ultimate consumers in a year are always far greater than those of organizational buyers.

At which stage in the buying decision process will a firm visit potential suppliers to assess their facilities?

Which of the following statements accurately characterizes buying behaviour in organizational markets?

Franco, a purchasing manager, reorders an existing product from a list of acceptable suppliers without doing any quality check.This is an example of a _____.

Organizational buying behaviour is the process by which organizations determine the need for goods and then choose among alternative suppliers.

For organizational buyers, price is not always the most important criteria.

What are the five stages of the organizational buying process?

Which of the following is true about organizational buyers?

Marker Jimmy's Co., a large cocoa-bean processor, buys cocoa beans and converts the beans into cocoa powder and cocoa butter, which is sold to companies that manufacture consumer products containing chocolate.Marker Jimmy's Co.is operating in a(n) _____ market.

The small business services department at Global Information Services is aimed at providing small business owners with information and assistance to promote growth of their companies.The existence of such a department is an example of market segmentation based on _____.

An industrial firm:

P & P is a global leader in pallet and container pooling services.Pallets are used for transporting and storing new appliances such as stoves, freezers, and refrigerators.Which of the following is true about the demand for P & P's pallets?

Fasteasytrade.com is an online trading community that brings together more than 50,000 suppliers and 4,000 buyers from various industries.It handles more than $30 billion in orders annually. Fasteasytrade.com is a(n) _____.

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