Question 1

What is outsourcing? Why do firms outsource production of goods and services?

Accepted Answer

Outsourcing is the use of outside vendor

Question 2

When firms in business markets are grouped based on their sales revenues,they are said to be segmented by:

Accepted Answer

A) customer type. 
B) purchase category. 
C) end-use application. 
D) demographic characteristics. 
A) customer type. 
B) purchase category. 
C) end-use application. 
D) demographic characteristics.

Question 3

The sixth digit of the NAICS codes accounts for specific data needs of each of the member nations of NAFTA.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following is one of the distinct characteristics that differentiates buying centers in foreign companies from those in the U.S.companies?

Accepted Answer

A) In U.S. companies, the participants in the buying centers have more trouble identifying deciders than foreign marketers do. 
B) Foreign buying centers often include more participants than those involved in U.S. buying centers. 
C) U.S. buying centers have a more streamlined approach to organizational buying than foreign buying centers. 
D) Foreign buying centers usually involve separate individuals as gatekeeper and influencer, while U.S. firms usually have the same person performing the roles of influencer and gatekeeper. 
A) In U.S. companies, the participants in the buying centers have more trouble identifying deciders than foreign marketers do. 
B) Foreign buying centers often include more participants than those involved in U.S. buying centers. 
C) U.S. buying centers have a more streamlined approach to organizational buying than foreign buying centers. 
D) Foreign buying centers usually involve separate individuals as gatekeeper and influencer, while U.S. firms usually have the same person performing the roles of influencer and gatekeeper.

Question 5

India is the most preferred destination for production offshoring.

Accepted Answer

A) True 
 B)False

Question 6

Purchasing a firm's entire stock of an item from just one vendor is termed as:

Accepted Answer

A) multiple sourcing. 
B) sole sourcing. 
C) outsourcing. 
D) inverted sourcing. 
A) multiple sourcing. 
B) sole sourcing. 
C) outsourcing. 
D) inverted sourcing.

Question 7

End-use application segmentation focuses on the precise way in which a business purchaser will use a product.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following can be categorized as a capital item purchased by organizational buyers?

Accepted Answer

A) Office supplies 
B) Copy papers 
C) Production plant 
D) Machine lubricants 
A) Office supplies 
B) Copy papers 
C) Production plant 
D) Machine lubricants

Question 9

Dell Computer purchases parts and resources for its computers from multiple suppliers that are spread across the world.This practice is known as:

Accepted Answer

A) offshoring. 
B) global sourcing. 
C) outsourcing. 
D) reciprocity. 
A) offshoring. 
B) global sourcing. 
C) outsourcing. 
D) reciprocity.

Question 10

Modified rebuys resemble routinized response behavior in consumer markets.

Accepted Answer

A) True 
 B)False

Question 11

Manufacturing the products in-house is always the best way for companies to acquire needed products.

Accepted Answer

A) True 
 B)False

Question 12

A straight rebuy is a recurring purchase decision in which a customer reorders a product that has satisfied its needs in the past.

Accepted Answer

A) True 
 B)False

Question 13

Zardo,Inc.divides its customers into the following categories: manufacturers,retailers,government agencies,and not-for-profit institutions.Which of the following type of segmentations is being used by Zardo?

Accepted Answer

A) Segmentation by end-use application 
B) Segmentation by customer type 
C) Segmentation by demographic characteristics 
D) Segmentation by purchase categories 
A) Segmentation by end-use application 
B) Segmentation by customer type 
C) Segmentation by demographic characteristics 
D) Segmentation by purchase categories

Question 14

In recent years,large equipment manufacturers such as Caterpillar and Komatsu have focused on the mining industry as a major growth area.However,in recent months the mining industry is showing signs of a recession and mines around the world are reducing their output and laying off workers.Due to the decline in sales of raw materials coming from the mine,Caterpillar has experienced a decline in sales of mining equipment.Which of the following best describes the demand for Caterpillar equipment in the mining industry?

Accepted Answer

A) ​derived 
B) ​volatile 
C) ​joint 
D) ​inelastic 
A) ​derived 
B) ​volatile 
C) ​joint 
D) ​inelastic

Question 15

The organizational buying process differs from the consumer purchase process as the organizational buying process:

Accepted Answer

A) involves few decision makers in making purchase decisions. 
B) is informal and less professional. 
C) requires a longer time frame because of complexity of the decisions. 
D) generally involves purchase of highly standardized products. 
A) involves few decision makers in making purchase decisions. 
B) is informal and less professional. 
C) requires a longer time frame because of complexity of the decisions. 
D) generally involves purchase of highly standardized products.

Question 16

Match each item with the correct statement below.
-The practice of moving jobs to vendors in countries close to the business's home country is referred to as _____.

Accepted Answer

A) merchandisers 
B) trade industries 
C) remanufacturing 
D) nearshoring 
E) end-use application segmentation
F)global sourcing
G)joint demand
H)inelastic demand
I)outsourcing
J)value analysis
K)gatekeeper
L)commercial market
M)reciprocity
N)vendor analysis
O)category advisor
P)modified rebuy
Q)demographic characteristics based segmentation
R)influencers
S)buyer
T)customer-based segmentation 
A) merchandisers 
B) trade industries 
C) remanufacturing 
D) nearshoring 
E) end-use application segmentation
F)global sourcing
G)joint demand
H)inelastic demand
I)outsourcing
J)value analysis
K)gatekeeper
L)commercial market
M)reciprocity
N)vendor analysis
O)category advisor
P)modified rebuy
Q)demographic characteristics based segmentation
R)influencers
S)buyer
T)customer-based segmentation

Question 17

By law,most federal purchases must be awarded on the basis of bids,or written sales proposals,from vendors.

Accepted Answer

A) True 
 B)False

Question 18

Match each item with the correct statement below.
-The practice of purchasing goods and services from suppliers worldwide is known as _____.

Accepted Answer

A) merchandisers 
B) trade industries 
C) remanufacturing 
D) nearshoring 
E) end-use application segmentation
F)global sourcing
G)joint demand
H)inelastic demand
I)outsourcing
J)value analysis
K)gatekeeper
L)commercial market
M)reciprocity
N)vendor analysis
O)category advisor
P)modified rebuy
Q)demographic characteristics based segmentation
R)influencers
S)buyer
T)customer-based segmentation 
A) merchandisers 
B) trade industries 
C) remanufacturing 
D) nearshoring 
E) end-use application segmentation
F)global sourcing
G)joint demand
H)inelastic demand
I)outsourcing
J)value analysis
K)gatekeeper
L)commercial market
M)reciprocity
N)vendor analysis
O)category advisor
P)modified rebuy
Q)demographic characteristics based segmentation
R)influencers
S)buyer
T)customer-based segmentation

Question 19

A buying center is a basic component of a firm's formal organizational structure.

Accepted Answer

A) True 
 B)False

Question 20

For U.S.based firms,Mexico is an attractive location for nearshoring operations.

Accepted Answer

A) True 
 B)False

What is outsourcing? Why do firms outsource production of goods and services?

When firms in business markets are grouped based on their sales revenues,they are said to be segmented by:

The sixth digit of the NAICS codes accounts for specific data needs of each of the member nations of NAFTA.

Which of the following is one of the distinct characteristics that differentiates buying centers in foreign companies from those in the U.S.companies?

India is the most preferred destination for production offshoring.

Purchasing a firm's entire stock of an item from just one vendor is termed as:

End-use application segmentation focuses on the precise way in which a business purchaser will use a product.

Which of the following can be categorized as a capital item purchased by organizational buyers?

Dell Computer purchases parts and resources for its computers from multiple suppliers that are spread across the world.This practice is known as:

Modified rebuys resemble routinized response behavior in consumer markets.

Manufacturing the products in-house is always the best way for companies to acquire needed products.

A straight rebuy is a recurring purchase decision in which a customer reorders a product that has satisfied its needs in the past.

Zardo,Inc.divides its customers into the following categories: manufacturers,retailers,government agencies,and not-for-profit institutions.Which of the following type of segmentations is being used by Zardo?

The organizational buying process differs from the consumer purchase process as the organizational buying process:

Match each item with the correct statement below. -The practice of moving jobs to vendors in countries close to the business's home country is referred to as _____.

By law,most federal purchases must be awarded on the basis of bids,or written sales proposals,from vendors.

Match each item with the correct statement below. -The practice of purchasing goods and services from suppliers worldwide is known as _____.

A buying center is a basic component of a firm's formal organizational structure.

For U.S.based firms,Mexico is an attractive location for nearshoring operations.

Marketing: the Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, ethics, and Social Responsibility

Social Media: Living in the Connected World

E-Business: Managing the Customer Experience

Consumer Behavior

Global Marketing

Market Segmentation, targeting, and Positioning

Marketing Research in the Era of Big Data

Relationship Marketing and Customer Relationship Management Crm

Product and Service Strategies

Developing and Managing Brand and Product Categories

Marketing Channels and Supply Chain Management

Retailers, wholesalers, and Direct Marketers

Integrated Marketing Communications, advertising, and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Pricing Strategies

Developing an Effective Marketing Plan

Financial Analysis in Marketing

Filters

Exam 7: Business-To-Business B2bmarketing

What is outsourcing? Why do firms outsource production of goods and services?

When firms in business markets are grouped based on their sales revenues,they are said to be segmented by:

The sixth digit of the NAICS codes accounts for specific data needs of each of the member nations of NAFTA.

Which of the following is one of the distinct characteristics that differentiates buying centers in foreign companies from those in the U.S.companies?

India is the most preferred destination for production offshoring.

Purchasing a firm's entire stock of an item from just one vendor is termed as:

End-use application segmentation focuses on the precise way in which a business purchaser will use a product.

Which of the following can be categorized as a capital item purchased by organizational buyers?

Dell Computer purchases parts and resources for its computers from multiple suppliers that are spread across the world.This practice is known as:

Modified rebuys resemble routinized response behavior in consumer markets.

Manufacturing the products in-house is always the best way for companies to acquire needed products.

A straight rebuy is a recurring purchase decision in which a customer reorders a product that has satisfied its needs in the past.

Zardo,Inc.divides its customers into the following categories: manufacturers,retailers,government agencies,and not-for-profit institutions.Which of the following type of segmentations is being used by Zardo?

The organizational buying process differs from the consumer purchase process as the organizational buying process:

Match each item with the correct statement below. -The practice of moving jobs to vendors in countries close to the business's home country is referred to as _____.

By law,most federal purchases must be awarded on the basis of bids,or written sales proposals,from vendors.

Match each item with the correct statement below. -The practice of purchasing goods and services from suppliers worldwide is known as _____.

A buying center is a basic component of a firm's formal organizational structure.

For U.S.based firms,Mexico is an attractive location for nearshoring operations.

Marketing: the Art and Science of Satisfying Customers

Strategic Planning in Contemporary Marketing

The Marketing Environment, ethics, and Social Responsibility

Social Media: Living in the Connected World

E-Business: Managing the Customer Experience

Consumer Behavior

Global Marketing

Market Segmentation, targeting, and Positioning

Marketing Research in the Era of Big Data

Relationship Marketing and Customer Relationship Management Crm

Product and Service Strategies

Developing and Managing Brand and Product Categories

Marketing Channels and Supply Chain Management

Retailers, wholesalers, and Direct Marketers

Integrated Marketing Communications, advertising, and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Pricing Strategies

Developing an Effective Marketing Plan

Financial Analysis in Marketing

Filters