Question 1

International trade statistics indicate the largest exporting industries in the United States focus on __________.

Accepted Answer

A) ultimate consumers 
B) organizational buyers 
C) governmental agencies 
D) domestic consumers 
E) foreign consumers 
A) ultimate consumers 
B) organizational buyers 
C) governmental agencies 
D) domestic consumers 
E) foreign consumers

Question 2

A supply partnership exists when a buyer and its supplier adopt mutually beneficial objectives,policies,and procedures for the purpose of

Accepted Answer

A) putting competitors of both buyers and sellers out of business. 
B) lowering costs and increasing profits for the supplier. 
C) lowering costs or increasing value of products or services to the ultimate consumer. 
D) creating a single channel of distribution. 
E) creating an exclusionary relationship from all other buyers and sellers. 
A) putting competitors of both buyers and sellers out of business. 
B) lowering costs and increasing profits for the supplier. 
C) lowering costs or increasing value of products or services to the ultimate consumer. 
D) creating a single channel of distribution. 
E) creating an exclusionary relationship from all other buyers and sellers.

Question 3

What is a buying center? In what type of business would a buying center most likely be found?

Accepted Answer

A buying center is a group of individual

Question 4

European Style Furniture (ESF),headquartered in New York,acquires fine furniture from several high quality manufacturers in Europe and enjoys exclusive distribution rights from them to sell to furniture stores throughout the U.S.In this context,ESF is most LIKELY classified as a

Accepted Answer

A) producer. 
B) reseller. 
C) service provider. 
D) government agency. 
E) industrial firm. 
A) producer. 
B) reseller. 
C) service provider. 
D) government agency. 
E) industrial firm.

Question 5

Which of the following is indicative of the purchase decision stage of the organizational buying decision process?

Accepted Answer

A) The purchase decision is usually quick once the information search has been completed. 
B) Even after the bid is submitted and even accepted,further negotiation is likely. 
C) Even if several vendors make it onto the bidder's list,ultimately only one supplier is chosen. 
D) If a supplier on the bidder's list is not selected,it is rarely told the reason(s)why it was rejected. 
E) Once an agreement has been formally reached,neither the buyer nor the seller is permitted to make changes to the terms of the contract. 
A) The purchase decision is usually quick once the information search has been completed. 
B) Even after the bid is submitted and even accepted,further negotiation is likely. 
C) Even if several vendors make it onto the bidder's list,ultimately only one supplier is chosen. 
D) If a supplier on the bidder's list is not selected,it is rarely told the reason(s)why it was rejected. 
E) Once an agreement has been formally reached,neither the buyer nor the seller is permitted to make changes to the terms of the contract.

Question 6

A computer company salesperson invites the IT managers of its top ten customers (in terms of dollar sales)to view a demonstration of the firm's new product line,so the salesperson can obtain their opinions regarding various options and configurations that could be offered.These IT managers are most likely to be the __________ of their organizations' buying centers.

Accepted Answer

A) gatekeepers 
B) influencers 
C) reciprocity arrangers 
D) buyers 
E) users 
A) gatekeepers 
B) influencers 
C) reciprocity arrangers 
D) buyers 
E) users

Question 7

The first stage in the organizational buying decision process is

Accepted Answer

A) information search. 
B) antecedent states. 
C) alternative evaluation. 
D) purchase decision. 
E) problem recognition. 
A) information search. 
B) antecedent states. 
C) alternative evaluation. 
D) purchase decision. 
E) problem recognition.

Question 8

An evaluation of whether components and assemblies will be purchased from outside suppliers or built by the firm itself is referred to as a

Accepted Answer

A) modified rebuy. 
B) make-buy decision. 
C) new buy. 
D) cost analysis. 
E) buy class decision. 
A) modified rebuy. 
B) make-buy decision. 
C) new buy. 
D) cost analysis. 
E) buy class decision.

Question 9

Amtrak,the U.S.passenger train service,purchases train cars from Siemens,a German manufacturing company.This purchase is an example of

Accepted Answer

A) the product life cycle. 
B) global organizational markets. 
C) market dynamics. 
D) reciprocity. 
E) supplier development. 
A) the product life cycle. 
B) global organizational markets. 
C) market dynamics. 
D) reciprocity. 
E) supplier development.

Question 10

A disadvantage of the North American Industry Classification System (NAICS)is that

Accepted Answer

A) it only lists the top ten firms in any particular industry. 
B) it is too difficult and confusing to read. 
C) it only covers organizations with sales in excess of (US)$1 million. 
D) it makes it possible to find how the firm's customers are coded. 
E) five-digit national industry codes are not always available for all three countries. 
A) it only lists the top ten firms in any particular industry. 
B) it is too difficult and confusing to read. 
C) it only covers organizations with sales in excess of (US)$1 million. 
D) it makes it possible to find how the firm's customers are coded. 
E) five-digit national industry codes are not always available for all three countries.

Question 11

Which of the following types of firms comprises an industrial market?

Accepted Answer

A) retailing 
B) transportation 
C) wholesaling 
D) state governments 
E) federal regulatory agencies 
A) retailing 
B) transportation 
C) wholesaling 
D) state governments 
E) federal regulatory agencies

Question 12

Organizational buyers can be divided into three different markets,which are

Accepted Answer

A) industrial,wholesaler,and retailer. 
B) industrial,retailer,and government. 
C) retailer,manufacturer,and government. 
D) industrial,government,and ultimate consumer. 
E) industrial,reseller,and government. 
A) industrial,wholesaler,and retailer. 
B) industrial,retailer,and government. 
C) retailer,manufacturer,and government. 
D) industrial,government,and ultimate consumer. 
E) industrial,reseller,and government.

Question 13

In the breakdown for the NAICS code based on Figure 6-1 above,"C" represents the

Accepted Answer

A) two-digit industry sector code. 
B) three-digit industry subsector code. 
C) four-digit industry group code. 
D) five-digit industry code. 
E) six-digit U.S.national industry code. 
A) two-digit industry sector code. 
B) three-digit industry subsector code. 
C) four-digit industry group code. 
D) five-digit industry code. 
E) six-digit U.S.national industry code.

Question 14

Becca,an office manager for a small construction company,met with representatives from Xerox and Minolta,along with the President and the accountant,to compare options for a new copier for the office.Since she made most of the copies,Becca wanted to see the features of the machines,though her boss would have to approve the final purchase.Becca has what role in the buying center?

Accepted Answer

A) purchasing agent 
B) decider 
C) buyer 
D) user 
E) motivator 
A) purchasing agent 
B) decider 
C) buyer 
D) user 
E) motivator

Question 15

When prospective buyers observe the bids of others and decide whether or not to increase the bid price,it is called a(n)

Accepted Answer

A) forward auction. 
B) reverse auction. 
C) webfront auction. 
D) traditional auction. 
E) bidder's war. 
A) forward auction. 
B) reverse auction. 
C) webfront auction. 
D) traditional auction. 
E) bidder's war.

Question 16

South Cape Ostrich Tanning (SCOT)is a producer of fine ostrich leathers,which are sold to manufacturers that make a variety of products from shoes to car interiors.Demand for SCOT's leather is a result of consumer interest in products like Via La Moda handbags made from this exotic and expensive leather.SCOT has __________ demand for its product.

Accepted Answer

A) derived 
B) unitized 
C) industrial 
D) applied 
E) reseller 
A) derived 
B) unitized 
C) industrial 
D) applied 
E) reseller

Question 17

ISO 9000 refers to the

Accepted Answer

A) standards for the registration and certification of a manufacturer's quality management and assurance system developed by the U.S.Department of Commerce. 
B) International Safety Organization responsible for establishing international guidelines for products designed for and targeted at children. 
C) worldwide standards for environmental quality and green marketing practices developed by the International Standards Organization. 
D) standards for the registration and certification of a manufacturer's quality management and assurance system based on an on-site audit of practices and procedures developed by the International Standards Organization. 
E) 9,000 major product and industry classifications used in the WTO Product Classification System. 
A) standards for the registration and certification of a manufacturer's quality management and assurance system developed by the U.S.Department of Commerce. 
B) International Safety Organization responsible for establishing international guidelines for products designed for and targeted at children. 
C) worldwide standards for environmental quality and green marketing practices developed by the International Standards Organization. 
D) standards for the registration and certification of a manufacturer's quality management and assurance system based on an on-site audit of practices and procedures developed by the International Standards Organization. 
E) 9,000 major product and industry classifications used in the WTO Product Classification System.

Question 18

The assistant heard his supervisor in the supply room yell,"Call Crate & Barrel-we need another case of its coffee mugs for the conference next week." The supervisor was asking the assistant to make a

Accepted Answer

A) new buy. 
B) straight rebuy. 
C) modified rebuy. 
D) make-buy. 
E) standard reorder. 
A) new buy. 
B) straight rebuy. 
C) modified rebuy. 
D) make-buy. 
E) standard reorder.

Question 19

As shown in Figure 6-6A above,what type of online auction does one seller and many buyers typify?

Accepted Answer

A) forward auction. 
B) reverse auction. 
C) traditional auction. 
D) vertical auction. 
E) bidder's war. 
A) forward auction. 
B) reverse auction. 
C) traditional auction. 
D) vertical auction. 
E) bidder's war.

Question 20

Based on Figure 6-1 above,what is the MOST LIKELY industry sector represented by NAICS code 51?

Accepted Answer

A) manufacturing 
B) fisheries 
C) information 
D) publishing 
E) retailing 
A) manufacturing 
B) fisheries 
C) information 
D) publishing 
E) retailing

Exam 6: Understanding Organizations As Customers

International trade statistics indicate the largest exporting industries in the United States focus on __________.

A supply partnership exists when a buyer and its supplier adopt mutually beneficial objectives,policies,and procedures for the purpose of

What is a buying center? In what type of business would a buying center most likely be found?

European Style Furniture (ESF),headquartered in New York,acquires fine furniture from several high quality manufacturers in Europe and enjoys exclusive distribution rights from them to sell to furniture stores throughout the U.S.In this context,ESF is most LIKELY classified as a

Which of the following is indicative of the purchase decision stage of the organizational buying decision process?

The first stage in the organizational buying decision process is

An evaluation of whether components and assemblies will be purchased from outside suppliers or built by the firm itself is referred to as a

Amtrak,the U.S.passenger train service,purchases train cars from Siemens,a German manufacturing company.This purchase is an example of

A disadvantage of the North American Industry Classification System (NAICS)is that

Which of the following types of firms comprises an industrial market?

Organizational buyers can be divided into three different markets,which are

In the breakdown for the NAICS code based on Figure 6-1 above,"C" represents the

When prospective buyers observe the bids of others and decide whether or not to increase the bid price,it is called a(n)

ISO 9000 refers to the

The assistant heard his supervisor in the supply room yell,"Call Crate & Barrel-we need another case of its coffee mugs for the conference next week." The supervisor was asking the assistant to make a

As shown in Figure 6-6A above,what type of online auction does one seller and many buyers typify?

Based on Figure 6-1 above,what is the MOST LIKELY industry sector represented by NAICS code 51?

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility in Marketing

Understanding Consumer Behavior

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation, Targeting, and Positioning

Developing New Products and Services

Managing Successful Products, Services, and Brands

Services Marketing

Building the Price Foundation

Arriving at the Final Price

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Pulling It All Together: the Strategic Marketing Process

Building an Effective Marketing Plan

Financial Aspects of Marketing

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