Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

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 3

Problem recognition can be stimulated by external sources,such as trade shows or sales representatives.

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

Compare and contrast the consumer buying decision process and the business buying decision process.

Accepted Answer

The answer of Compare and contrast the consumer buying decision...

Question 6

A buyer for Macy's Department Stores orders handbags from a supplier because that supplier allows the buyer to maintain Macy's company policy of 30-day advance purchase notice.This is an example of ____ influence on the business buying decision process.

Accepted Answer

A)  environmental 
B)  organizational 
C)  interpersonal 
D)  individual 
E)  demographic 
A)  environmental 
B)  organizational 
C)  interpersonal 
D)  individual 
E)  demographic

Question 7

Retailers like Target and Kmart are considered to be members of which business market?

Accepted Answer

A)  Reseller 
B)  Customer 
C)  Producer 
D)  Institutional 
E)  Services 
A)  Reseller 
B)  Customer 
C)  Producer 
D)  Institutional 
E)  Services

Question 8

How do a firm's objectives affect the business buying decision process?

Accepted Answer

A firm's objectives significantly influe

Question 9

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

Question 10

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 11

Industrial demand derives from consumer demand.

Accepted Answer

A) True 
 B)False

Question 12

A fall in consumer demand for a product is likely to result in increased buying from suppliers as consumer goods producers replenish depleted inventories and gear up for the next surge in consumer demand.

Accepted Answer

A) True 
 B)False

Question 13

The stages of the business buying decision process,in order,are

Accepted Answer

A)  recognizing the problem,establishing product specifications,searching for products and evaluating possible suppliers,selecting suppliers and products,and evaluating performance. 
B)  recognizing the problem,searching for products and evaluating possible suppliers,selecting suppliers and products,establishing product specifications,and evaluating performance. 
C)  recognizing the problem,selecting suppliers and products,evaluating performance,establishing product specifications,and searching for substitute products. 
D)  establishing product specifications,recognizing the problem,searching for products,evaluating possible products and suppliers,selecting suppliers and products,and evaluating performance. 
E)  establishing product specifications,searching for products,selecting suppliers and products,evaluating performance,recognizing the problem,and evaluating possible products and suppliers. 
A)  recognizing the problem,establishing product specifications,searching for products and evaluating possible suppliers,selecting suppliers and products,and evaluating performance. 
B)  recognizing the problem,searching for products and evaluating possible suppliers,selecting suppliers and products,establishing product specifications,and evaluating performance. 
C)  recognizing the problem,selecting suppliers and products,evaluating performance,establishing product specifications,and searching for substitute products. 
D)  establishing product specifications,recognizing the problem,searching for products,evaluating possible products and suppliers,selecting suppliers and products,and evaluating performance. 
E)  establishing product specifications,searching for products,selecting suppliers and products,evaluating performance,recognizing the problem,and evaluating possible products and suppliers.

Question 14

How do individual factors affect the business buying decision process?

Accepted Answer

The answer of How do individual factors affect the business...

Question 15

Goodyear is a manufacturer and marketer of tires for new passenger cars.In recent years,the company's business has declined because of the overall decrease in consumer demand for new cars.In this case,the demand for Goodyear's tire products is said to be ____ since it depends on the demand for new cars.

Accepted Answer

A)  inelastic 
B)  fluctuating 
C)  derived 
D)  elastic 
E)  nonderived 
A)  inelastic 
B)  fluctuating 
C)  derived 
D)  elastic 
E)  nonderived

Question 16

The demand for many business products is inelastic at the industry level.

Accepted Answer

A) True 
 B)False

Question 17

After finding out which industries purchase the major portion of an industry's output,the next step is to begin production.

Accepted Answer

A) True 
 B)False

Question 18

What factors affect the purchase method that business customers choose?

Accepted Answer

The answer of What factors affect the purchase method that...

Question 19

The recently created Department of Homeland Defense is a member of the ____ market.

Accepted Answer

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

Question 20

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.

Exam 7: Business Buying Behavior

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

The third stage in the business buying decision process is to

Problem recognition can be stimulated by external sources,such as trade shows or sales representatives.

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

Compare and contrast the consumer buying decision process and the business buying decision process.

A buyer for Macy's Department Stores orders handbags from a supplier because that supplier allows the buyer to maintain Macy's company policy of 30-day advance purchase notice.This is an example of ____ influence on the business buying decision process.

Retailers like Target and Kmart are considered to be members of which business market?

How do a firm's objectives affect the business buying decision process?

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?

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.

Industrial demand derives from consumer demand.

A fall in consumer demand for a product is likely to result in increased buying from suppliers as consumer goods producers replenish depleted inventories and gear up for the next surge in consumer demand.

The stages of the business buying decision process,in order,are

How do individual factors affect the business buying decision process?

The demand for many business products is inelastic at the industry level.

After finding out which industries purchase the major portion of an industry's output,the next step is to begin production.

What factors affect the purchase method that business customers choose?

The recently created Department of Homeland Defense is a member of the ____ market.

Individual influencing factors refer to

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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