Question 1

Reverse auctions

Accepted Answer

A) are buyer-initiated. 
B) benefit the sellers significantly more than the buyers. 
C) have an increasing number of buyers as the auction progresses. 
D) do not allow sequential bidding. 
E) have many buyers at the start of the auction. 
A) are buyer-initiated. 
B) benefit the sellers significantly more than the buyers. 
C) have an increasing number of buyers as the auction progresses. 
D) do not allow sequential bidding. 
E) have many buyers at the start of the auction.

Question 2

Firms selling consumer products or services often try to reach thousands or millions of individuals or households.Firms selling to organizations

Accepted Answer

A) try to reach tens of millions of wholesalers,retailers,and government units. 
B) are restricted to far fewer buyers. 
C) hope to obtain similar numbers of business customers,or even more. 
D) do not have customers,per se. 
E) simultaneously purchase from organizational buyers and ultimate consumers. 
A) try to reach tens of millions of wholesalers,retailers,and government units. 
B) are restricted to far fewer buyers. 
C) hope to obtain similar numbers of business customers,or even more. 
D) do not have customers,per se. 
E) simultaneously purchase from organizational buyers and ultimate consumers.

Question 3

To be a Walmart supplier,a firm must be able to deliver its products to its distribution centers within a 16-minute window.If the driver arrives before or after the scheduled window,the supplier will be turned away and fined.Walmart's insistence on choosing a supplier based upon its ability to provide on-time delivery is an example of a(n)

Accepted Answer

A) supplier value dimension. 
B) derived demand factor. 
C) evaluative criterion. 
D) external performance measure. 
E) organizational buying criterion. 
A) supplier value dimension. 
B) derived demand factor. 
C) evaluative criterion. 
D) external performance measure. 
E) organizational buying criterion.

Question 4

An industrial buying practice in which two organizations agree to purchase each other's products and services is referred to as __________.

Accepted Answer

A) a tying arrangement 
B) exclusive dealing 
C) reciprocity 
D) a supply partnership 
E) noncompetitive bidding 
A) a tying arrangement 
B) exclusive dealing 
C) reciprocity 
D) a supply partnership 
E) noncompetitive bidding

Question 5

All of the following are organizational buyers EXCEPT:

Accepted Answer

A) industrial firms. 
B) government units. 
C) ultimate consumers. 
D) resellers. 
E) wholesalers. 
A) industrial firms. 
B) government units. 
C) ultimate consumers. 
D) resellers. 
E) wholesalers.

Question 6

How might a marketing manager for a manufacturer of turboprop engines,used in private jet planes,use the NAICS to help her with marketing planning?

Accepted Answer

A) Record the NAICS numbers for each of her firm's best customers and then obtain lists of companies with the same NAICS numbers. 
B) Go to a library and find the NAICS numbers for all government units-federal,state,and local. 
C) Identify all NAICS numbers that reflect the classifications of her firm's customers and compare them to previous SIC codes. 
D) Poll her field sales organization to see if her company's sales representatives know what NAICS numbers mean. 
E) Forgo using the NAICS system because it has recently been replaced by the SIC system,which is more useful in this scenario. 
A) Record the NAICS numbers for each of her firm's best customers and then obtain lists of companies with the same NAICS numbers. 
B) Go to a library and find the NAICS numbers for all government units-federal,state,and local. 
C) Identify all NAICS numbers that reflect the classifications of her firm's customers and compare them to previous SIC codes. 
D) Poll her field sales organization to see if her company's sales representatives know what NAICS numbers mean. 
E) Forgo using the NAICS system because it has recently been replaced by the SIC system,which is more useful in this scenario.

Question 7

Important product or service characteristics in organizational buying include which of the following?

Accepted Answer

A) Products or services that are technical in nature and purchased on the basis of specifications. 
B) A heavy emphasis is placed on delivery time,technical assistance,and postsale service. 
C) Direct selling to organizational buyers is rare. 
D) A fixed,nonnegotiable price is the norm. 
E) Personal relationships are preferred to online buying over the Internet. 
A) Products or services that are technical in nature and purchased on the basis of specifications. 
B) A heavy emphasis is placed on delivery time,technical assistance,and postsale service. 
C) Direct selling to organizational buyers is rare. 
D) A fixed,nonnegotiable price is the norm. 
E) Personal relationships are preferred to online buying over the Internet.

Question 8

In terms of organizational buyers,Amazon.com,Lands' End,and JCPenney would most LIKELY classified as __________.

Accepted Answer

A) government units 
B) resellers 
C) manufacturers 
D) wholesalers 
E) industrial firms 
A) government units 
B) resellers 
C) manufacturers 
D) wholesalers 
E) industrial firms

Question 9

The decision-making process that organizations use to establish the need for products and services and identify,evaluate,and choose among alternative brands and suppliers is referred to as

Accepted Answer

A) the consumer purchase decision process. 
B) the industrial purchase procedure. 
C) organizational buying behavior. 
D) the offering purchase framework. 
E) the sustainable procurement process. 
A) the consumer purchase decision process. 
B) the industrial purchase procedure. 
C) organizational buying behavior. 
D) the offering purchase framework. 
E) the sustainable procurement process.

Question 10

A business market is also referred to as

Accepted Answer

A) a transactional market. 
B) a corporate market. 
C) organizational buyers. 
D) a reseller market. 
E) an industrial market. 
A) a transactional market. 
B) a corporate market. 
C) organizational buyers. 
D) a reseller market. 
E) an industrial market.

Question 11

Mining companies,farms,financial services,and fisheries are all examples of

Accepted Answer

A) consumer markets. 
B) cooperative markets. 
C) reseller markets. 
D) industrial markets. 
E) government markets. 
A) consumer markets. 
B) cooperative markets. 
C) reseller markets. 
D) industrial markets. 
E) government markets.

Question 12

Unfortunately,the NAICS system will not allow marketing managers to gather information about

Accepted Answer

A) import competition in domestic markets. 
B) geographic distribution of industries. 
C) market share in a pure competition environment. 
D) demand for products and services. 
E) data on industries that are oligopolies. 
A) import competition in domestic markets. 
B) geographic distribution of industries. 
C) market share in a pure competition environment. 
D) demand for products and services. 
E) data on industries that are oligopolies.

Question 13

Which of the following is a service business within the industrial market?

Accepted Answer

A) construction 
B) mining 
C) insurance 
D) government 
E) farming 
A) construction 
B) mining 
C) insurance 
D) government 
E) farming

Question 14

A list of firms believed to be qualified to supply a given item is referred to as a

Accepted Answer

A) bidder's list. 
B) make-buy list. 
C) supplier's sheet. 
D) vendor-rating sheet. 
E) e-marketplace. 
A) bidder's list. 
B) make-buy list. 
C) supplier's sheet. 
D) vendor-rating sheet. 
E) e-marketplace.

Question 15

For e-marketplaces,large companies tend to favor __________ that link them with their network of qualified suppliers and customers.

Accepted Answer

A) centralized markets 
B) decentralized markets 
C) private exchanges 
D) segregated markets 
E) independent trading communities 
A) centralized markets 
B) decentralized markets 
C) private exchanges 
D) segregated markets 
E) independent trading communities

Question 16

__________ comprise the highest percentage of firms in industrial markets.

Accepted Answer

A) Manufacturing firms 
B) Construction firms 
C) Agricultural firms 
D) Mining companies 
E) Service companies 
A) Manufacturing firms 
B) Construction firms 
C) Agricultural firms 
D) Mining companies 
E) Service companies

Question 17

Merrill Lynch and Thompson Financial had a three-year,$1 billion project that put workstations on the desks of 25,000 of Merrill Lynch's brokers.These machines put the world of investing information at brokers' fingertips.Thompson,the supplier,was obligated to not only deliver technology and services on time and on budget,but also constantly improve customer-satisfaction levels among Merrill's brokers and customers.This is an example of

Accepted Answer

A) a reciprocity agreement. 
B) exclusive dealing. 
C) supplier alliance. 
D) a buyer-seller relationship. 
E) a tying arrangement. 
A) a reciprocity agreement. 
B) exclusive dealing. 
C) supplier alliance. 
D) a buyer-seller relationship. 
E) a tying arrangement.

Question 18

If a purchase is a new buy for a manufacturer,the seller should expect

Accepted Answer

A) specifications to be changed many times before the buy is completed. 
B) a lot of conflict. 
C) many people to be involved in the purchase decision. 
D) to have to do some favors for the decision-makers. 
E) to avoid making concessions or compromises. 
A) specifications to be changed many times before the buy is completed. 
B) a lot of conflict. 
C) many people to be involved in the purchase decision. 
D) to have to do some favors for the decision-makers. 
E) to avoid making concessions or compromises.

Question 19

At which point of the organizational buying decision process would a firm use a formal vendor rating system to evaluate the quality of the vendor's product and customer service?

Accepted Answer

A) problem recognition 
B) information search 
C) purchase decision 
D) postpurchase behavior 
E) performance review 
A) problem recognition 
B) information search 
C) purchase decision 
D) postpurchase behavior 
E) performance review

Question 20

When the Federal Aviation Administration (FAA)purchases radars for 22 major air traffic control centers in the U.S. ,it is operating as a(n)

Accepted Answer

A) government unit. 
B) industrial market. 
C) business market. 
D) consumer market. 
E) service provider. 
A) government unit. 
B) industrial market. 
C) business market. 
D) consumer market. 
E) service provider.

Exam 6: Understanding Organizations As Customers

Reverse auctions

Firms selling consumer products or services often try to reach thousands or millions of individuals or households.Firms selling to organizations

An industrial buying practice in which two organizations agree to purchase each other's products and services is referred to as __________.

All of the following are organizational buyers EXCEPT:

How might a marketing manager for a manufacturer of turboprop engines,used in private jet planes,use the NAICS to help her with marketing planning?

Important product or service characteristics in organizational buying include which of the following?

In terms of organizational buyers,Amazon.com,Lands' End,and JCPenney would most LIKELY classified as __________.

The decision-making process that organizations use to establish the need for products and services and identify,evaluate,and choose among alternative brands and suppliers is referred to as

A business market is also referred to as

Mining companies,farms,financial services,and fisheries are all examples of

Unfortunately,the NAICS system will not allow marketing managers to gather information about

Which of the following is a service business within the industrial market?

A list of firms believed to be qualified to supply a given item is referred to as a

For e-marketplaces,large companies tend to favor __________ that link them with their network of qualified suppliers and customers.

__________ comprise the highest percentage of firms in industrial markets.

If a purchase is a new buy for a manufacturer,the seller should expect

At which point of the organizational buying decision process would a firm use a formal vendor rating system to evaluate the quality of the vendor's product and customer service?

When the Federal Aviation Administration (FAA)purchases radars for 22 major air traffic control centers in the U.S. ,it is operating as a(n)

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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