Question 1

Which of the following characterizes organizational buyer-seller relationships?

Accepted Answer

A)  Purchases are often made after lengthy or complex negotiations. 
B)  Purchases are usually of small dollar values. 
C)  Short-term contracts are often prevalent. 
D)  Reciprocal arrangements never exist. 
E)  Delivery schedules are less important than production capacity. 
A)  Purchases are often made after lengthy or complex negotiations. 
B)  Purchases are usually of small dollar values. 
C)  Short-term contracts are often prevalent. 
D)  Reciprocal arrangements never exist. 
E)  Delivery schedules are less important than production capacity.

Question 2

Figure 6-6a
-Figure 6-6a above,as the number of buyers increases,the price

Accepted Answer

A)  increases. 
B)  decreases. 
C)  stays the same. 
D)  has no relation to the number of buyers. 
E)  fluctuates depending on economic conditions. 
A)  increases. 
B)  decreases. 
C)  stays the same. 
D)  has no relation to the number of buyers. 
E)  fluctuates depending on economic conditions.

Question 3

Reverse auctions

Accepted Answer

A)  are buyer-initiated. 
B)  benefit the sellers significantly more than the buyers. 
C)  have an increasing number of buyers as the auction progresses. 
D)  do not have sequential bidding. 
E)  have many buyers at the start of the auction. 
A)  are buyer-initiated. 
B)  benefit the sellers significantly more than the buyers. 
C)  have an increasing number of buyers as the auction progresses. 
D)  do not have sequential bidding. 
E)  have many buyers at the start of the auction.

Question 4

Dell,Inc.sells surplus,refurbished,or closeout computer merchandise at its dellauction.com website to many buyers who bid competitively against one another.This is an example of a

Accepted Answer

A)  reverse auction. 
B)  traditional auction. 
C)  bidder's war. 
D)  I-auction. 
E)  Webfront auction. 
A)  reverse auction. 
B)  traditional auction. 
C)  bidder's war. 
D)  I-auction. 
E)  Webfront auction.

Question 5

Walmart wants Procter & Gamble (P&G)to link up with its computerized cash register scanning equipment and direct electronic ordering and replenishing systems for all its stores,Walmart can tell P&G what merchandise it needs to replenish,along with how much,when,and to which store to deliver it on a daily basis.From this description,Walmart is engaged in __________.

Accepted Answer

A)  ISO 9000 certification. 
B)  ISO 14000 certification. 
C)  sustainable procurement. 
D)  sustainable development. 
E)  cause marketing. 
A)  ISO 9000 certification. 
B)  ISO 14000 certification. 
C)  sustainable procurement. 
D)  sustainable development. 
E)  cause marketing.

Question 6

Graham-Field Health Products makes hospital beds and wheelchairs from the component parts and materials it buys.It sells these manufactured products to hospitals,nursing homes,and retailers of health care products.Graham-Field Health Products operates in a(n)__________ market.

Accepted Answer

A)  consumer 
B)  government 
C)  service 
D)  industrial 
E)  reseller 
A)  consumer 
B)  government 
C)  service 
D)  industrial 
E)  reseller

Question 7

a purchase is a new buy for a manufacturer,the seller should be prepared to act as a consultant to the buyer,work with technical personnel,and

Accepted Answer

A)  expect a long time for a buying decision to be reached. 
B)  neutralize a lot of conflict. 
C)  expect specifications to be changed several times before the buy is completed. 
D)  expect to have to do some favors for the decision makers. 
E)  avoid making concessions or compromises. 
A)  expect a long time for a buying decision to be reached. 
B)  neutralize a lot of conflict. 
C)  expect specifications to be changed several times before the buy is completed. 
D)  expect to have to do some favors for the decision makers. 
E)  avoid making concessions or compromises.

Question 8

Figure 6-1
-Based on Figure 6-1 above,what is the NAICS code for cable and other subscription programming?

Accepted Answer

A)  511 
B)  5152 
C)  51512 
D)  51520 
E)  511515 
A)  511 
B)  5152 
C)  51512 
D)  51520 
E)  511515

Question 9

Which of the following statements about the North American Industry Classification System (NAICS)is most accurate?

Accepted Answer

A)  After being used for more than 50 years, the NAICS was replaced by the Standard Industrial Classification (SI
C)  system. 
B)  The NAICS permits comparability across countries but does not accurately measure new or emerging industries. 
C)  One drawback to the NAICS is that its industry classifications are inconsistent with the International Standards Organization. 
D)  The NAICS groups economic activity to permit studies of market share, demand for goods and services, import competition in domestic markets, and similar studies. 
E)  The NAICS is a five-digit code that allows comparison of industries even when information is limited. 
A)  After being used for more than 50 years, the NAICS was replaced by the Standard Industrial Classification (SI
C)  system. 
B)  The NAICS permits comparability across countries but does not accurately measure new or emerging industries. 
C)  One drawback to the NAICS is that its industry classifications are inconsistent with the International Standards Organization. 
D)  The NAICS groups economic activity to permit studies of market share, demand for goods and services, import competition in domestic markets, and similar studies. 
E)  The NAICS is a five-digit code that allows comparison of industries even when information is limited.

Question 10

Corporation,a marketer of Photostat products used in the graphic arts field,buys photo sensitized paper from Eastman Kodak Company,packages it with the Photostat brand name,and sells it directly to amateur photographers.In this context,Itex Corporation is most accurately classified as a

Accepted Answer

A)  manufacturer. 
B)  reseller. 
C)  service provider. 
D)  wholesaler. 
E)  industrial firm. 
A)  manufacturer. 
B)  reseller. 
C)  service provider. 
D)  wholesaler. 
E)  industrial firm.

Question 11

IT engineer specifies the type of plug-in to be used on the company's new website.The engineer also chooses the supplier who receives the contract to provide the software.In the buying center,this person is the __________.

Accepted Answer

A)  gatekeeper 
B)  decider 
C)  broker 
D)  influencer 
E)  user 
A)  gatekeeper 
B)  decider 
C)  broker 
D)  influencer 
E)  user

Question 12

North American Industry Classification System (NAICS)system designates industries with a numerical code in a defined structure.A six-digit coding system is used.The sixth digit designates a(n)

Accepted Answer

A)  industry subsector. 
B)  industry group. 
C)  specific industry. 
D)  individual country-level national industry. 
E)  sector of the economy. 
A)  industry subsector. 
B)  industry group. 
C)  specific industry. 
D)  individual country-level national industry. 
E)  sector of the economy.

Question 13

a buying center,__________ have formal authority and responsibility to select the supplier and negotiate the terms of a contract.

Accepted Answer

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

Question 14

NAICS is consistent with the International Standard Industrial Classification of All Economic Activities,which is published by the __________ to facilitate measurement of global economic activity.

Accepted Answer

A)  United Nations (UN) 
B)  European Union (EU) 
C)  International Standards Organization (ISO) 
D)  North American Free Trade Agreement (NAFT
A)  
E)  North American Product Classification System (NAPCS) 
A)  United Nations (UN) 
B)  European Union (EU) 
C)  International Standards Organization (ISO) 
D)  North American Free Trade Agreement (NAFT
A)  
E)  North American Product Classification System (NAPCS)

Question 15

relationship that exists when a buyer and its supplier adopt mutually beneficial objectives,policies,and procedures for the purpose of lowering the cost or increasing the value of products and services delivered to the ultimate customer is referred to as a __________.

Accepted Answer

A)  supply partnership 
B)  supplier development agreement 
C)  reciprocal arrangement 
D)  shareholder relationship 
E)  strategic alliance 
A)  supply partnership 
B)  supplier development agreement 
C)  reciprocal arrangement 
D)  shareholder relationship 
E)  strategic alliance

Question 16

Reciprocity refers to

Accepted Answer

A)  the practice whereby a seller requires the purchaser of one product to buy another item in the line. 
B)  an industrial buying practice in which two organizations, in this case a manufacturer and a supplier, agree to purchase each other's products and services. 
C)  an arrangement a manufacturer makes with a reseller to handle only its products and not those of competitors. 
D)  the illegal practice of refusing to purchase a seller's products unless the seller agrees not to purchase that product or any similar products from any other buyer. 
E)  when a supplier requires a buyer purchasing some of its products to also buy others. 
A)  the practice whereby a seller requires the purchaser of one product to buy another item in the line. 
B)  an industrial buying practice in which two organizations, in this case a manufacturer and a supplier, agree to purchase each other's products and services. 
C)  an arrangement a manufacturer makes with a reseller to handle only its products and not those of competitors. 
D)  the illegal practice of refusing to purchase a seller's products unless the seller agrees not to purchase that product or any similar products from any other buyer. 
E)  when a supplier requires a buyer purchasing some of its products to also buy others.

Question 17

industrial firm

Accepted Answer

A)  is one that is independently owned and takes title to the merchandise it sells. 
B)  buys physical products and resells them again without any reprocessing. 
C)  deals exclusively with federal, state, and local governments. 
D)  in some way reprocesses a good or service it buys before selling it again to the next buyer. 
E)  only produces a product, not a service. 
A)  is one that is independently owned and takes title to the merchandise it sells. 
B)  buys physical products and resells them again without any reprocessing. 
C)  deals exclusively with federal, state, and local governments. 
D)  in some way reprocesses a good or service it buys before selling it again to the next buyer. 
E)  only produces a product, not a service.

Question 18

Because more and more companies are concerned with the depletion of natural resources,supply partnerships often include provisions for

Accepted Answer

A)  green marketing. 
B)  regulatory exemptions. 
C)  stakeholder procurement. 
D)  ecological procurement. 
E)  sustainable procurement. 
A)  green marketing. 
B)  regulatory exemptions. 
C)  stakeholder procurement. 
D)  ecological procurement. 
E)  sustainable procurement.

Question 19

buying situation where an organization is a first-time buyer of the product or service is referred to as a

Accepted Answer

A)  buy class. 
B)  new buy. 
C)  make-buy. 
D)  straight rebuy. 
E)  modified rebuy. 
A)  buy class. 
B)  new buy. 
C)  make-buy. 
D)  straight rebuy. 
E)  modified rebuy.

Question 20

Another name for an e-marketplace is a(n)

Accepted Answer

A)  WebXChange. 
B)  WebMart. 
C)  B2B exchange. 
D)  2B1 marketplace. 
E)  C2C market forum. 
A)  WebXChange. 
B)  WebMart. 
C)  B2B exchange. 
D)  2B1 marketplace. 
E)  C2C market forum.

Exam 6: Understanding Organizations As Customers

Which of the following characterizes organizational buyer-seller relationships?

Figure 6-6a -Figure 6-6a above,as the number of buyers increases,the price

Reverse auctions

Dell,Inc.sells surplus,refurbished,or closeout computer merchandise at its dellauction.com website to many buyers who bid competitively against one another.This is an example of a

Graham-Field Health Products makes hospital beds and wheelchairs from the component parts and materials it buys.It sells these manufactured products to hospitals,nursing homes,and retailers of health care products.Graham-Field Health Products operates in a(n)__________ market.

a purchase is a new buy for a manufacturer,the seller should be prepared to act as a consultant to the buyer,work with technical personnel,and

Figure 6-1 -Based on Figure 6-1 above,what is the NAICS code for cable and other subscription programming?

Which of the following statements about the North American Industry Classification System (NAICS)is most accurate?

Corporation,a marketer of Photostat products used in the graphic arts field,buys photo sensitized paper from Eastman Kodak Company,packages it with the Photostat brand name,and sells it directly to amateur photographers.In this context,Itex Corporation is most accurately classified as a

IT engineer specifies the type of plug-in to be used on the company's new website.The engineer also chooses the supplier who receives the contract to provide the software.In the buying center,this person is the __________.

North American Industry Classification System (NAICS)system designates industries with a numerical code in a defined structure.A six-digit coding system is used.The sixth digit designates a(n)

a buying center,__________ have formal authority and responsibility to select the supplier and negotiate the terms of a contract.

NAICS is consistent with the International Standard Industrial Classification of All Economic Activities,which is published by the __________ to facilitate measurement of global economic activity.

relationship that exists when a buyer and its supplier adopt mutually beneficial objectives,policies,and procedures for the purpose of lowering the cost or increasing the value of products and services delivered to the ultimate customer is referred to as a __________.

Reciprocity refers to

industrial firm

Because more and more companies are concerned with the depletion of natural resources,supply partnerships often include provisions for

buying situation where an organization is a first-time buyer of the product or service is referred to as a

Another name for an e-marketplace is a(n)

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility for Sustainable Marketing

Understanding Consumer Behavior

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation,Targeting,and Positioning

Developing New Products and Services

Managing Successful Products,Services,and Brands

Services Marketing

Building the Price Foundation

Arriving at the Final Price

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multi-Channel Marketing

Pulling It All Together: The Strategic Marketing Process

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