Question 1

Xerox offers a ________ approach to prospective clients when it offers a complete turnkey solution,including the operation and management of the client's information and communication need.

Accepted Answer

A)  supply buying
B)  primary buying
C)  systems buying
D)  co-op buying system
E)  direct buying C

Question 2

With respect to e-procurement,Coca-Cola,Sara Lee,Kraft,PepsiCo,P&G,and several other companies joined forces to form a ________ called Transora to use their combined leverage to obtain lower prices for raw materials.

Accepted Answer

A)  manufacturer's co-op
B)  supplier's co-op
C)  middleman group
D)  buying alliance
E)  cabal D

Question 3

All of the following are methods of assessing customer value EXCEPT ________.

Accepted Answer

A)  direct survey questions
B)  exit interviewing
C)  focus-group value assessment
D)  conjoint analysis
E)  benchmarks B

Question 4

According to Webster,with respect to buying center influences,senior managers should remember that people are ________.

Accepted Answer

A)  not buying products-they are buying solutions to problems
B)  buying products that they personally will not use
C)  buying surrogates that must appreciate that role
D)  are human shopping bots
E)  limited in their scope of overall business operations

Question 5

Think about what you have learned about a buying center.If you performed the role of the ________,you would be the person that has the power to prevent sellers or information from reaching other members of the buying center.

Accepted Answer

A)  initiator
B)  influencer
C)  decider
D)  gatekeeper
E)  approver

Question 6

If you decided to go into the systems contracting business,which of the following categories would constitute your main area of expertise,the service you provide for customers?

Accepted Answer

A)  Computer applications
B)  Database management
C)  Manufacturing
D)  Promotion management
E)  MRO (maintenance,repair,operating) supplies

Question 7

The ________ consists of all the organizations that acquire goods and services used in the production of other products or services that are sold,rented,or supplied to others.

Accepted Answer

A)  business market
B)  consumer market
C)  e-commerce market
D)  global market
E)  supplier market

Question 8

________ is composed of all parties who participate in the purchasing decision-making process and share common goals and risks associated with their decisions.

Accepted Answer

A)  The buying center
B)  The marketing sales team
C)  Strategic management
D)  Engineering support
E)  The logistics center

Question 9

The business market consists of all the organizations that acquire goods and services used in the production of other products or services that are sold,rented,or supplied to others.List the major industries that make up the business market.

Accepted Answer

The answer of The business market consists of all the...

Question 10

________ is a key industrial marketing strategy in bidding to build large-scale industrial products (e.g. ,dams,pipelines,et cetera).

Accepted Answer

A)  Systems contracting
B)  Systems buying
C)  Systems selling
D)  Solutions buying
E)  Turnkey logistics

Question 11

Over time,new-buy situations become straight rebuys and routine purchase behavior.

Accepted Answer

A) True 
 B)False

Question 12

Explain the concept of solution selling.Give one example of this approach.

Accepted Answer

The answer of Explain the concept of solution selling.Give one...

Question 13

One of the forms of solution selling is to provide solutions to enhance customer revenues.

Accepted Answer

A) True 
 B)False

Question 14

The ________ market consists of schools,hospitals,nursing homes,prisons,and other institutions that must provide goods and services to people in their care.

Accepted Answer

A)  vertical
B)  nonprofit
C)  spot
D)  secondary business
E)  institutional

Question 15

Hendrix Voeders sales consultants help farmers deliver an incremental animal weight gain of 5% to 10% over competitors.This is an example of ________.

Accepted Answer

A)  solutions selling to enhance customer revenues
B)  solutions selling to reduce customer costs
C)  solutions selling to decrease customer risks
D)  solutions selling to simplify customer purchasing
E)  all of the above

Question 16

In the purchasing decision process,the major role of ________ is in selecting vendors and negotiating.

Accepted Answer

A)  gatekeepers
B)  buyers
C)  initiators
D)  approvers
E)  deciders

Question 17

The ________ approach to consumer research asks customers to attach a monetary value to alternative levels of a given attribute.The value of a given configuration is determined by adding the average values of each of the given attributes.

Accepted Answer

A)  benchmarking
B)  compositional
C)  importance rating
D)  focus-group
E)  conjoint analysis

Question 18

Your organization is considering selling its products to the institutional market.What type of customers will you be making your appeals to? Give specific examples.

Accepted Answer

The answer of Your organization is considering selling its products...

Question 19

Researchers have found that buyer-supplier relationships differed according to four factors: availability of alternatives;importance of supply;complexity of supply;and supply market dynamism.Based on these four factors,they classified buyer-supplier relationships into eight different categories.What are those categories?

Accepted Answer

The answer of Researchers have found that buyer-supplier relationships differed...

Question 20

Most performance reviews are conducted by outside auditing agencies to avoid bias and internal discrepancies.

Accepted Answer

A) True 
 B)False

Exam 7: Analyzing Business Markets

Xerox offers a ________ approach to prospective clients when it offers a complete turnkey solution,including the operation and management of the client's information and communication need.

With respect to e-procurement,Coca-Cola,Sara Lee,Kraft,PepsiCo,P&G,and several other companies joined forces to form a ________ called Transora to use their combined leverage to obtain lower prices for raw materials.

All of the following are methods of assessing customer value EXCEPT ________.

According to Webster,with respect to buying center influences,senior managers should remember that people are ________.

Think about what you have learned about a buying center.If you performed the role of the ________,you would be the person that has the power to prevent sellers or information from reaching other members of the buying center.

If you decided to go into the systems contracting business,which of the following categories would constitute your main area of expertise,the service you provide for customers?

The ________ consists of all the organizations that acquire goods and services used in the production of other products or services that are sold,rented,or supplied to others.

________ is composed of all parties who participate in the purchasing decision-making process and share common goals and risks associated with their decisions.

The business market consists of all the organizations that acquire goods and services used in the production of other products or services that are sold,rented,or supplied to others.List the major industries that make up the business market.

________ is a key industrial marketing strategy in bidding to build large-scale industrial products (e.g. ,dams,pipelines,et cetera) .

Over time,new-buy situations become straight rebuys and routine purchase behavior.

Explain the concept of solution selling.Give one example of this approach.

One of the forms of solution selling is to provide solutions to enhance customer revenues.

The ________ market consists of schools,hospitals,nursing homes,prisons,and other institutions that must provide goods and services to people in their care.

Hendrix Voeders sales consultants help farmers deliver an incremental animal weight gain of 5% to 10% over competitors.This is an example of ________.

In the purchasing decision process,the major role of ________ is in selecting vendors and negotiating.

The ________ approach to consumer research asks customers to attach a monetary value to alternative levels of a given attribute.The value of a given configuration is determined by adding the average values of each of the given attributes.

Your organization is considering selling its products to the institutional market.What type of customers will you be making your appeals to? Give specific examples.

Most performance reviews are conducted by outside auditing agencies to avoid bias and internal discrepancies.