Question 1

When competing products differ greatly,business buyers are more accountable for their purchase choices and tend to pay more attention to ________.

Accepted Answer

A)  economic factors 
B)  emotional choice 
C)  intuition 
D)  personal factors 
E)  creative factors

Question 2

In what type of buying situation would a seller most likely send only a catalog to the buyer during the proposal solicitation stage of the business buying process?

Accepted Answer

A)  new task 
B)  modified rebuy 
C)  straight rebuy 
D)  solution selling 
E)  independent task

Question 3

A firewall is a(n)________.

Accepted Answer

A)  commonly used technique to safeguard Internet and extranet transactions 
B)  method of communicating with e-commerce customers 
C)  tool used by hackers to infiltrate corporate Web sites 
D)  method for increasing employee productivity 
E)  effective method for efficiently linking buyer and seller Web sites

Question 4

Brad Loo is responsible for obtaining price quotations from various vendors.After reviewing them,he then determines whether or not to include the vendor on the approved vendor list.Brad apparently plays two roles,that of ________ and ________.

Accepted Answer

A)  user; buyer 
B)  buyer; influencer 
C)  buyer; gatekeeper 
D)  decider; buyer 
E)  gatekeeper; influencer

Question 5

In which stage of the business buying process is a supplier most likely to provide a buyer with information about the value of different product characteristics?

Accepted Answer

A)  problem recognition 
B)  general need description 
C)  supplier search 
D)  supplier selection 
E)  order-routine specification

Question 6

When compared to consumer markets,business markets are ________.

Accepted Answer

A)  approximately the same 
B)  smaller 
C)  huge 
D)  somewhat larger 
E)  less complex

Question 7

What are the major characteristics of institutional markets?

Accepted Answer

The answer of What are the major characteristics of institutional...

Question 8

All of the following organizations are likely considered to be a part of the institutional market EXCEPT ________.

Accepted Answer

A)  Care Community Hospital 
B)  Changi Prison 
C)  Sinfully Chocolate Pte Ltd 
D)  Helping Hands Rescue Mission 
E)  La Trobe University

Question 9

It is safe to say that business buyers react in purchase decisions with both reason and emotion,therefore they respond to both personal and ________ factors.

Accepted Answer

A)  economic 
B)  consumer 
C)  supplier 
D)  reseller 
E)  psychological

Question 10

Gail Khor has formal authority to select the suppliers and arrange terms of purchase for many of the items her firm uses.Her role in the buying center is that of ________.

Accepted Answer

A)  user 
B)  influencer 
C)  buyer 
D)  decider 
E)  gatekeeper

Question 11

Provide a brief explanation of the major influences on business buyers.

Accepted Answer

The answer of Provide a brief explanation of the major...

Question 12

In the generally accepted stages of the business buying process,the step following product specification is ________.

Accepted Answer

A)  proposal solicitation 
B)  supplier search 
C)  problem recognition 
D)  general need description 
E)  order-routine specification

Question 13

In a typical organization,buying activity consists of two major parts: the buying ________ and the buying ________.

Accepted Answer

A)  committee; time 
B)  time; reorder point 
C)  economic order quantity; reorder point 
D)  center; decision process 
E)  deciders; influencers

Question 14

Although E-procurement through email and home banking transactions can be protected by basic encryption,the _______________ that businesses need to carry out confidential interactions is often still lacking.

Accepted Answer

A)  expertise 
B)  trained personnel 
C)  secure environment 
D)  knowledge 
E)  efficiencies

Question 15

Environmental,organizational,interpersonal,and individual factors all influence business buyer behavior.

Accepted Answer

A) True 
 B)False

Question 16

Influence,Expertise and Authority are all examples of ________ influences on business buyer behavior.

Accepted Answer

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

Question 17

Seng Choo Farm raises chickens.When Mr Choo went to reuse some of his coops,he noticed many of them could not be sufficiently cleaned for reuse and needed to be replaced.Mr Choo was at which stage of the business buying process when he decided to replace his old coops?

Accepted Answer

A)  problem recognition 
B)  general need description 
C)  product specification 
D)  product value analysis 
E)  performance review

Question 18

Refer to the scenario below to answer the following questions.
A-1 Stampings Ltd. produces 14 metal stampings for the automotive industry. Due to industry design changes, for the next model year, six of those stampings will require a slight change: two will have an extra hole punched through the side, two will require an extra plating process, and two will require an additional weld operation.
In the meantime, the purchasing agent Richard Koh has been asked to reduce the number of A-1's steel suppliers in an effort to cut costs. After obtaining updated price quotations and steel samples from his current suppliers, Richard faced a dilemma. Until now, he had selected his suppliers based on quality and price, but a major consideration had been the type of steel required and the specialized production processes of his respective suppliers. Not all of A-1's suppliers could produce the exact grades of steel needed; some suppliers were better at producing certain types of steel than others.
Richard contacted several employees at A-1 who had worked with the various types of steel in the past. The quality control manager and line inspector, for example, could help to determine which suppliers had the capabilities of producing specific types of steel. The production control manager could provide input regarding which types of steel worked best in which presses. Even the warehouse foreman gave input regarding how long various types of steel could be held in inventory before rust spots began to form on their surfaces. Each person contributed the necessary information to help Richard in making his decision.
-The demand for A-1 Stampings' products is ultimately based on the demand for new automobiles in the consumer market.This is an example of ________ demand.

Accepted Answer

A)  inelastic 
B)  static 
C)  increasing 
D)  derived 
E)  independent

Question 19

Proposals should be marketing documents and not just technical documents.

Accepted Answer

A) True 
 B)False

Question 20

Business demand ultimately derives from the demand for consumer goods.

Accepted Answer

A) True 
 B)False

Exam 6: Business Markets and Business Buyer Behavior

When competing products differ greatly,business buyers are more accountable for their purchase choices and tend to pay more attention to ________.

In what type of buying situation would a seller most likely send only a catalog to the buyer during the proposal solicitation stage of the business buying process?

A firewall is a(n) ________.

Brad Loo is responsible for obtaining price quotations from various vendors.After reviewing them,he then determines whether or not to include the vendor on the approved vendor list.Brad apparently plays two roles,that of and .

In which stage of the business buying process is a supplier most likely to provide a buyer with information about the value of different product characteristics?

When compared to consumer markets,business markets are ________.

What are the major characteristics of institutional markets?

All of the following organizations are likely considered to be a part of the institutional market EXCEPT ________.

It is safe to say that business buyers react in purchase decisions with both reason and emotion,therefore they respond to both personal and ________ factors.

Gail Khor has formal authority to select the suppliers and arrange terms of purchase for many of the items her firm uses.Her role in the buying center is that of ________.

Provide a brief explanation of the major influences on business buyers.

In the generally accepted stages of the business buying process,the step following product specification is ________.

In a typical organization,buying activity consists of two major parts: the buying and the buying .

Although E-procurement through email and home banking transactions can be protected by basic encryption,the _______________ that businesses need to carry out confidential interactions is often still lacking.

Environmental,organizational,interpersonal,and individual factors all influence business buyer behavior.

Influence,Expertise and Authority are all examples of ________ influences on business buyer behavior.

Seng Choo Farm raises chickens.When Mr Choo went to reuse some of his coops,he noticed many of them could not be sufficiently cleaned for reuse and needed to be replaced.Mr Choo was at which stage of the business buying process when he decided to replace his old coops?

Proposals should be marketing documents and not just technical documents.

Business demand ultimately derives from the demand for consumer goods.