Question 1

Individual influencing factors refer to

Accepted Answer

A) relationships among those in the firm's buying center. 
B) uncontrollable environmental forces. 
C) the power an individual controls in the buying center. 
D) personal characteristics of individuals in the buying center. 
E) activities of suppliers. 
A) relationships among those in the firm's buying center. 
B) uncontrollable environmental forces. 
C) the power an individual controls in the buying center. 
D) personal characteristics of individuals in the buying center. 
E) activities of suppliers.

Question 2

Raython Hardware and Thames Industrial Supplier have worked closely for many years and have a mutually beneficial relationship in which Raython provides all of Thames's hardware needs in a timely manner. Raython and Thames's relationship could be best characterized as a(n)

Accepted Answer

A) reciprocity agreement. 
B) partnership. 
C) intra-organizational group. 
D) alliance. 
E) tying arrangement. 
A) reciprocity agreement. 
B) partnership. 
C) intra-organizational group. 
D) alliance. 
E) tying arrangement.

Question 3

Which of the following would be considered an institutional buyer?

Accepted Answer

A) The University of Illinois 
B) The Environmental Protection Agency 
C) Apple Computers 
D) The United Way 
E) City of Greenville 
A) The University of Illinois 
B) The Environmental Protection Agency 
C) Apple Computers 
D) The United Way 
E) City of Greenville

Question 4

A representative product taken from a lot or batch, evaluated, and purchased refers to

Accepted Answer

A) homogeneous selection. 
B) description. 
C) trust. 
D) negotiated inspection. 
E) sampling. 
A) homogeneous selection. 
B) description. 
C) trust. 
D) negotiated inspection. 
E) sampling.

Question 5

The term business markets refers only to producer markets.

Accepted Answer

A) True 
 B)False

Question 6

All companies, no matter what their size or market position, maintain only one buying center.

Accepted Answer

A) True 
 B)False

Question 7

Discuss how interpersonal factors influence the business buying decision process.

Accepted Answer

Interpersonal factors are the relationsh

Question 8

Describe the various stages of the business buying decision process.

Accepted Answer

​In the first stage of the business buyi

Question 9

When a business is making its initial purchase of an item to be used to perform a new job, it is known as a ____ purchase.

Accepted Answer

A) straight rebuy 
B) reciprocal 
C) delayed 
D) new-task 
E) modified rebuy 
A) straight rebuy 
B) reciprocal 
C) delayed 
D) new-task 
E) modified rebuy

Question 10

Ultimate consumers are generally more rational than business customers.

Accepted Answer

A) True 
 B)False

Question 11

One very important consideration for business purchases is the type of packaging used.

Accepted Answer

A) True 
 B)False

Question 12

The owner of a trucking business, who buys gasoline from the nearby service station for the company trucks, is a part of a business market.

Accepted Answer

A) True 
 B)False

Question 13

Institutional markets are

Accepted Answer

A) intermediaries who resell goods to make a profit. 
B) federal and state government units. 
C) state or local government units. 
D) consumers who buy products for their own use. 
E) organizations that seek nonbusiness goals. 
A) intermediaries who resell goods to make a profit. 
B) federal and state government units. 
C) state or local government units. 
D) consumers who buy products for their own use. 
E) organizations that seek nonbusiness goals.

Question 14

An organization that decides to buy all of a certain part from the same company is using

Accepted Answer

A) single-supplier purchasing. 
B) multiple sourcing. 
C) same vendor analysis. 
D) straight rebuy. 
E) sole sourcing. 
A) single-supplier purchasing. 
B) multiple sourcing. 
C) same vendor analysis. 
D) straight rebuy. 
E) sole sourcing.

Question 15

Many suppliers and their customers invest time and resources to build and maintain mutually beneficial relationships which are often called

Accepted Answer

A) partnerships. 
B) co-ops. 
C) monopolies. 
D) reciprocity. 
E) alliances. 
A) partnerships. 
B) co-ops. 
C) monopolies. 
D) reciprocity. 
E) alliances.

Question 16

Wholesalers sell primarily to ultimate consumers.

Accepted Answer

A) True 
 B)False

Question 17

Business markets are typically divided into four categories. These categories are

Accepted Answer

A) retailers, wholesalers, services, and nonprofit firms. 
B) producer, manufacturer, reseller, and government. 
C) producer, reseller, government, and institutional. 
D) manufacturer, wholesaler, retailer, and services. 
E) reseller, retailer, government, and institutional. 
A) retailers, wholesalers, services, and nonprofit firms. 
B) producer, manufacturer, reseller, and government. 
C) producer, reseller, government, and institutional. 
D) manufacturer, wholesaler, retailer, and services. 
E) reseller, retailer, government, and institutional.

Question 18

Which of the following statements about business buying is false?

Accepted Answer

A) Business marketers prefer not to sell to customers who place small orders. 
B) Business marketers must often sell their products in large quantities to make profits. 
C) Most business purchases are made by committee. 
D) Business purchases are usually made on the basis of contracts. 
E) Orders in business markets tend to be smaller than those placed in consumer markets. 
A) Business marketers prefer not to sell to customers who place small orders. 
B) Business marketers must often sell their products in large quantities to make profits. 
C) Most business purchases are made by committee. 
D) Business purchases are usually made on the basis of contracts. 
E) Orders in business markets tend to be smaller than those placed in consumer markets.

Question 19

Anderson Distribution Company has purchased 15 forklifts over the past two years. As it plans to place its next order for another five machines, management wonders if additional features may be needed in order to handle changes in the product lines it carries. For Anderson, these new forklifts represent a ____ purchase.

Accepted Answer

A) new-task 
B) repetitive 
C) straight rebuy 
D) repetitive order 
E) modified rebuy 
A) new-task 
B) repetitive 
C) straight rebuy 
D) repetitive order 
E) modified rebuy

Question 20

Snappy Tools, Inc., purchases hammers, bolts, and other hardware items from a variety of manufacturers and sells them to hardware stores at a price that includes a profit for Snappy Tools, Inc. The company would be part of what type of business market?

Accepted Answer

A) Reseller 
B) Producer 
C) Consumer 
D) Government 
E) Supply 
A) Reseller 
B) Producer 
C) Consumer 
D) Government 
E) Supply

Individual influencing factors refer to

Raython Hardware and Thames Industrial Supplier have worked closely for many years and have a mutually beneficial relationship in which Raython provides all of Thames's hardware needs in a timely manner. Raython and Thames's relationship could be best characterized as a(n)

Which of the following would be considered an institutional buyer?

A representative product taken from a lot or batch, evaluated, and purchased refers to

The term business markets refers only to producer markets.

All companies, no matter what their size or market position, maintain only one buying center.

Discuss how interpersonal factors influence the business buying decision process.

Describe the various stages of the business buying decision process.

When a business is making its initial purchase of an item to be used to perform a new job, it is known as a ____ purchase.

Ultimate consumers are generally more rational than business customers.

One very important consideration for business purchases is the type of packaging used.

The owner of a trucking business, who buys gasoline from the nearby service station for the company trucks, is a part of a business market.

Institutional markets are

An organization that decides to buy all of a certain part from the same company is using

Many suppliers and their customers invest time and resources to build and maintain mutually beneficial relationships which are often called

Wholesalers sell primarily to ultimate consumers.

Business markets are typically divided into four categories. These categories are

Which of the following statements about business buying is false?

Snappy Tools, Inc., purchases hammers, bolts, and other hardware items from a variety of manufacturers and sells them to hardware stores at a price that includes a profit for Snappy Tools, Inc. The company would be part of what type of business market?

An Overview of Strategic Marketing

Planning, Implementing, and Evaluating Marketing Strategies

The Marketing Environment

Social Responsibility and Ethics in Marketing

Marketing Research and Information Systems

Target Markets Segmentation and Evaluation

Consumer Buying Behavior

Reaching Global Markets

Digital Marketing and Social Networking

Product Concepts, Branding and Packaging

Developing and Managing Products

Services Marketing

Marketing Channels and Supply-Chain Management

Retailing, Direct Marketing and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Setting Prices

Filters

Exam 8: Business Markets and Buying Behavior

Individual influencing factors refer to

Raython Hardware and Thames Industrial Supplier have worked closely for many years and have a mutually beneficial relationship in which Raython provides all of Thames's hardware needs in a timely manner. Raython and Thames's relationship could be best characterized as a(n)

Which of the following would be considered an institutional buyer?

A representative product taken from a lot or batch, evaluated, and purchased refers to

The term business markets refers only to producer markets.

All companies, no matter what their size or market position, maintain only one buying center.

Discuss how interpersonal factors influence the business buying decision process.

Describe the various stages of the business buying decision process.

When a business is making its initial purchase of an item to be used to perform a new job, it is known as a ____ purchase.

Ultimate consumers are generally more rational than business customers.

One very important consideration for business purchases is the type of packaging used.

The owner of a trucking business, who buys gasoline from the nearby service station for the company trucks, is a part of a business market.

Institutional markets are

An organization that decides to buy all of a certain part from the same company is using

Many suppliers and their customers invest time and resources to build and maintain mutually beneficial relationships which are often called

Wholesalers sell primarily to ultimate consumers.

Business markets are typically divided into four categories. These categories are

Which of the following statements about business buying is false?

Snappy Tools, Inc., purchases hammers, bolts, and other hardware items from a variety of manufacturers and sells them to hardware stores at a price that includes a profit for Snappy Tools, Inc. The company would be part of what type of business market?

An Overview of Strategic Marketing

Planning, Implementing, and Evaluating Marketing Strategies

The Marketing Environment

Social Responsibility and Ethics in Marketing

Marketing Research and Information Systems

Target Markets Segmentation and Evaluation

Consumer Buying Behavior

Reaching Global Markets

Digital Marketing and Social Networking

Product Concepts, Branding and Packaging

Developing and Managing Products

Services Marketing

Marketing Channels and Supply-Chain Management

Retailing, Direct Marketing and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Setting Prices

Filters