Question 1

Value analysis focuses primarily on the examination of the cost of products relative to design,quality,and materials used.

Accepted Answer

A) True 
 B)False

Question 2

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 3

As it places its order for truck tires with Michelin,South Side Industrial Supply realizes that it must also place an order for valve stems and balancing weights for the truck tires.Such business products are characterized as having ____ demand.

Accepted Answer

A)  derived 
B)  inelastic 
C)  joint 
D)  fluctuating 
E)  higher 
A)  derived 
B)  inelastic 
C)  joint 
D)  fluctuating 
E)  higher

Question 4

A(n)____________________ market consists of individuals or groups that purchase products for resale,use in production,or daily operations.

Accepted Answer

The answer of A(n)____________________ market consists of individuals or groups...

Question 5

____ analysis is a systematic evaluation of current and potential suppliers that focuses on many dimensions including price,product quality,delivery service,product dependability,and overall company reliability.

Accepted Answer

A)  Value 
B)  Vendor 
C)  Buying center 
D)  Strategic 
E)  Cost 
A)  Value 
B)  Vendor 
C)  Buying center 
D)  Strategic 
E)  Cost

Question 6

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 7

Grocery stores and supermarkets are a part of producer markets.

Accepted Answer

A) True 
 B)False

Question 8

A new-task purchase is one in which the business makes an initial purchase of a new item.

Accepted Answer

A) True 
 B)False

Question 9

The group of people within a business who are involved in making business buying decisions is referred to as

Accepted Answer

A)  the new-task team. 
B)  negotiators. 
C)  purchasing agents. 
D)  deciders. 
E)  the buying center. 
A)  the new-task team. 
B)  negotiators. 
C)  purchasing agents. 
D)  deciders. 
E)  the buying center.

Question 10

About what percentage of the annual U.S.gross domestic product is government spending?

Accepted Answer

A)  2 percent 
B)  10 percent 
C)  20 percent 
D)  30 percent 
E)  50 percent 
A)  2 percent 
B)  10 percent 
C)  20 percent 
D)  30 percent 
E)  50 percent

Question 11

Industrial classification systems allow marketers to divide business customers into groups based mainly on the types of goods and services provided.

Accepted Answer

A) True 
 B)False

Question 12

An example of a business market would be farmers.

Accepted Answer

A) True 
 B)False

Question 13

Which type of business market tends to have the most complex buying procedures?

Accepted Answer

A)  Reseller 
B)  Institutional 
C)  Retailer 
D)  Government 
E)  Producer 
A)  Reseller 
B)  Institutional 
C)  Retailer 
D)  Government 
E)  Producer

Question 14

For business products,the concept of inelasticity of demand applies equally to industry demand for the product and to demand for an individual supplier.

Accepted Answer

A) True 
 B)False

Question 15

In some cases,the types of services offered by a supplier may constitute a primary advantage over suppliers of similar products.

Accepted Answer

A) True 
 B)False

Question 16

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 7.1.What was the first step of the buying decision process that Samsung went through when looking for the quasi-assembly pods?

Accepted Answer

A)  Searching for products and suppliers 
B)  Selecting and ordering the most appropriate product 
C)  Recognizing the problem or need 
D)  Establishing product specifications 
E)  Evaluating the product relative to specifications 
A)  Searching for products and suppliers 
B)  Selecting and ordering the most appropriate product 
C)  Recognizing the problem or need 
D)  Establishing product specifications 
E)  Evaluating the product relative to specifications

Question 17

Most business purchases can be classified as belonging to one of three types:

Accepted Answer

A)  delinquent,repetitive,or delivered. 
B)  repetitive,new-task,or modified rebuy. 
C)  modified rebuy,new-task,or straight rebuy. 
D)  delinquent,new-task,or reciprocal. 
E)  rebuy,reciprocal,or delayed. 
A)  delinquent,repetitive,or delivered. 
B)  repetitive,new-task,or modified rebuy. 
C)  modified rebuy,new-task,or straight rebuy. 
D)  delinquent,new-task,or reciprocal. 
E)  rebuy,reciprocal,or delayed.

Question 18

The increase in government purchases has resulted partly from the increase in the number of services provided by the government.

Accepted Answer

A) True 
 B)False

Question 19

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 20

Motorola buys silicone which is used in its chip-making process.Motorola produces microchips for use within a wide variety of products for other firms,such as Ford,GM and Samsung.Motorola is a buyer in a(n)____ market.

Accepted Answer

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

Exam 7: Business Buying Behavior

Value analysis focuses primarily on the examination of the cost of products relative to design,quality,and materials used.

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

As it places its order for truck tires with Michelin,South Side Industrial Supply realizes that it must also place an order for valve stems and balancing weights for the truck tires.Such business products are characterized as having ____ demand.

A(n)____________________ market consists of individuals or groups that purchase products for resale,use in production,or daily operations.

____ analysis is a systematic evaluation of current and potential suppliers that focuses on many dimensions including price,product quality,delivery service,product dependability,and overall company reliability.

Institutional markets are

Grocery stores and supermarkets are a part of producer markets.

A new-task purchase is one in which the business makes an initial purchase of a new item.

The group of people within a business who are involved in making business buying decisions is referred to as

About what percentage of the annual U.S.gross domestic product is government spending?

Industrial classification systems allow marketers to divide business customers into groups based mainly on the types of goods and services provided.

An example of a business market would be farmers.

Which type of business market tends to have the most complex buying procedures?

For business products,the concept of inelasticity of demand applies equally to industry demand for the product and to demand for an individual supplier.

In some cases,the types of services offered by a supplier may constitute a primary advantage over suppliers of similar products.

Most business purchases can be classified as belonging to one of three types:

The increase in government purchases has resulted partly from the increase in the number of services provided by the government.

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

Motorola buys silicone which is used in its chip-making process.Motorola produces microchips for use within a wide variety of products for other firms,such as Ford,GM and Samsung.Motorola is a buyer in a(n)____ market.

Strategic Marketing Management

Developing and Implementing Marketing Strategies

The Global Marketing Environment

Information for Marketing Decisions

Selecting Target Markets

Consumer Behavior

International Marketing

Digital Marketing and Social Media

Product Decisions

Strategic Product Management

Services Marketing

Strategic Management of Branding and Packaging

A Supply Chain Management and Marketing Channels

B Supply Chain Management and Marketing Channels

A Retailing,wholesaling and Direct Marketing

B Retailing,wholesaling and Direct Marketing

Integrated Marketing Communications

Advertising and Publicrelations

Personal Selling and Sales Promotion

Strategic Pricing Management

Pricingdecisions

Global Issues,social Responsibility and Marketing

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