Question 1

Price is of concern to a business marketer primarily because of its psychological impact on purchasing agents.

Accepted Answer

A) True 
 B)False

Question 2

Perry Supply's sales and sales force have continued to expand. Now, the firm plans to add a fleet of company cars as part of its sales compensation package. For Perry Supply, these vehicles would represent a ____ purchase.

Accepted Answer

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

Question 3

To obtain the names of specific potential customers, the business marketer is well advised to employ the services of a commercial data company, since this is both cheaper and faster than any other method.

Accepted Answer

A) True 
 B)False

Question 4

Mike's Roadside Market buys produce from area farmers, marks the merchandise at a price that includes some profit, and then sells the fruit and vegetables to the people in and around Centerville. Mike's would be classified as part of a ____ market.

Accepted Answer

A) consumer 
B) producer 
C) government 
D) reseller 
E) wholesaler 
A) consumer 
B) producer 
C) government 
D) reseller 
E) wholesaler

Question 5

The fourth stage in the business buying decision process is that of searching for products and suppliers.

Accepted Answer

A) True 
 B)False

Question 6

Which method of business buying is most likely to be used when the products being purchased are standardized based on certain characteristics?

Accepted Answer

A) Homogeneous selection 
B) Inspection 
C) Description 
D) Sampling 
E) Negotiation 
A) Homogeneous selection 
B) Inspection 
C) Description 
D) Sampling 
E) Negotiation

Question 7

Business purchasing agents may indirectly contribute to the satisfaction of their own personal needs by helping their firms achieve organizational objectives.

Accepted Answer

A) True 
 B)False

Question 8

The Eagle Pawn Company is a regional business that owns seven pawn stores in the Houston area. The owners of Eagle Pawn have recently purchased a new software system designed to better track their inventory. Now that they have had the system for a couple of months, they have decided to upgrade to a newer version. The original purchase is an example of a(an) ________, while the current purchase will be a(an) _____.

Accepted Answer

A) new task; modified rebuy 
B) new task; continued new-task 
C) contractual; modified rebuy 
D) new task; straight rebuy 
E) negotiated task; modified rebuy 
A) new task; modified rebuy 
B) new task; continued new-task 
C) contractual; modified rebuy 
D) new task; straight rebuy 
E) negotiated task; modified rebuy

Question 9

The factors that influence business buying behavior are the same as those that influence consumer buying behavior.

Accepted Answer

A) True 
 B)False

Question 10

When buying materials, the purchasing agent for Alco Pillow Manufacturing Company considers a variety of factors. Which one of the following is least likely to concern this buyer?

Accepted Answer

A) Does the quality of the goods meet company specifications? 
B) Does the supplier consistently deliver on time? 
C) Does the supplier also sell to my competitors? 
D) Does the supplier offer the services required? 
E) Does the price meet company budget requirements? 
A) Does the quality of the goods meet company specifications? 
B) Does the supplier consistently deliver on time? 
C) Does the supplier also sell to my competitors? 
D) Does the supplier offer the services required? 
E) Does the price meet company budget requirements?

Question 11

Scenario 8.1 Use the following to answer the questions.Samsung is entering the home appliance market with its new French Door Refrigerator. In designing the production facility, it has a need for various pieces of equipment, including the perpetual assembly belt-drive, quasi-assembly pods, and finishing stations. The purchasing agent for the appliance division is inquiring about who will be needed for input on the purchasing decision. Samsung has already contacted several producers of the quasi-assembly pods, and has begun negotiations with their sales representatives.
-Refer to Scenario 8.1. What type of business purchase is Samsung undertaking?

Accepted Answer

A) Modified rebuy 
B) Straight rebuy 
C) New-task 
D) Straight purchase 
E) New rebuy 
A) Modified rebuy 
B) Straight rebuy 
C) New-task 
D) Straight purchase 
E) New rebuy

Question 12

Pi Delta Mu sorority purchases food in bulk to feed its members living in the house. This means it is part of a(n) ____ market.

Accepted Answer

A) producer 
B) consumer 
C) reseller 
D) institutional 
E) government 
A) producer 
B) consumer 
C) reseller 
D) institutional 
E) government

Question 13

Bob Denton of Denton Pest Control buys equipment from Allied Tools because Allied hires him to spray its warehouse for insects periodically. This practice is an example of

Accepted Answer

A) cost-benefit trading. 
B) cooperative selling. 
C) reciprocity. 
D) supplier agreements. 
E) modified rebuy purchase. 
A) cost-benefit trading. 
B) cooperative selling. 
C) reciprocity. 
D) supplier agreements. 
E) modified rebuy purchase.

Question 14

The third stage in the business buying decision process is to

Accepted Answer

A) evaluate product specifications to solve the problem. 
B) evaluate products relative to specifications. 
C) select and order the most appropriate product. 
D) evaluate product and supplier performance. 
E) search for products and suppliers. 
A) evaluate product specifications to solve the problem. 
B) evaluate products relative to specifications. 
C) select and order the most appropriate product. 
D) evaluate product and supplier performance. 
E) search for products and suppliers.

Question 15

Marketers can take advantage of a wealth of public and private data about business customers using various industrial classification systems. However, as with any data, there are limitations associated with industrial classification systems' data. Which of the following is a limitation of industrial classification systems' data?​

Accepted Answer

A) Some industries are included in multiple classifications in the systems. 
B) Double counting of sales data may occur when products are shipped between two divisions within the same organization. 
C) Only businesses with more than 1000 employees are included. 
D) Only service businesses are included in the classifications. 
E) The data is only available on a quarterly basis. 
A) Some industries are included in multiple classifications in the systems. 
B) Double counting of sales data may occur when products are shipped between two divisions within the same organization. 
C) Only businesses with more than 1000 employees are included. 
D) Only service businesses are included in the classifications. 
E) The data is only available on a quarterly basis.

Price is of concern to a business marketer primarily because of its psychological impact on purchasing agents.

Perry Supply's sales and sales force have continued to expand. Now, the firm plans to add a fleet of company cars as part of its sales compensation package. For Perry Supply, these vehicles would represent a ____ purchase.

To obtain the names of specific potential customers, the business marketer is well advised to employ the services of a commercial data company, since this is both cheaper and faster than any other method.

Mike's Roadside Market buys produce from area farmers, marks the merchandise at a price that includes some profit, and then sells the fruit and vegetables to the people in and around Centerville. Mike's would be classified as part of a ____ market.

The fourth stage in the business buying decision process is that of searching for products and suppliers.

Which method of business buying is most likely to be used when the products being purchased are standardized based on certain characteristics?

Business purchasing agents may indirectly contribute to the satisfaction of their own personal needs by helping their firms achieve organizational objectives.

The factors that influence business buying behavior are the same as those that influence consumer buying behavior.

When buying materials, the purchasing agent for Alco Pillow Manufacturing Company considers a variety of factors. Which one of the following is least likely to concern this buyer?

Pi Delta Mu sorority purchases food in bulk to feed its members living in the house. This means it is part of a(n) ____ market.

Bob Denton of Denton Pest Control buys equipment from Allied Tools because Allied hires him to spray its warehouse for insects periodically. This practice is an example of

The third stage in the business buying decision process is to

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

Price is of concern to a business marketer primarily because of its psychological impact on purchasing agents.

Perry Supply's sales and sales force have continued to expand. Now, the firm plans to add a fleet of company cars as part of its sales compensation package. For Perry Supply, these vehicles would represent a ____ purchase.

To obtain the names of specific potential customers, the business marketer is well advised to employ the services of a commercial data company, since this is both cheaper and faster than any other method.

Mike's Roadside Market buys produce from area farmers, marks the merchandise at a price that includes some profit, and then sells the fruit and vegetables to the people in and around Centerville. Mike's would be classified as part of a ____ market.

The fourth stage in the business buying decision process is that of searching for products and suppliers.

Which method of business buying is most likely to be used when the products being purchased are standardized based on certain characteristics?

Business purchasing agents may indirectly contribute to the satisfaction of their own personal needs by helping their firms achieve organizational objectives.

The factors that influence business buying behavior are the same as those that influence consumer buying behavior.

When buying materials, the purchasing agent for Alco Pillow Manufacturing Company considers a variety of factors. Which one of the following is least likely to concern this buyer?

Pi Delta Mu sorority purchases food in bulk to feed its members living in the house. This means it is part of a(n) ____ market.

Bob Denton of Denton Pest Control buys equipment from Allied Tools because Allied hires him to spray its warehouse for insects periodically. This practice is an example of

The third stage in the business buying decision process is to

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