Question 1

Which of the following characteristics distinguishes business products from consumer products?

Accepted Answer

A)   Physical form
B)   Intended use
C)   Distribution method
D)   Price B

Question 2

GE's instagram account shares behind-the-scenes looks at their business and employees.One post about the first female wind technician in Western Canada received over 1,00 likes.With regard to business-to-business social media marketing,these efforts by GE is an example of the __________ marketing metric.

Accepted Answer

A)   product adaptation
B)   engagement
C)   conversion
D)   review B

Question 3

Businesses contract outside providers to perform janitorial,advertising,and legal services when it costs less than hiring an employee to perform those particular tasks.

Accepted Answer

A) True 
 B)False  True

Question 4

Fluctuating demand is the demand for two or more items used together in a final product.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is true of a firm that acts as a consumer marketer?

Accepted Answer

A)   It can also be a business marketer.
B)   It has fewer customers than a business marketer.
C)   It excludes the sale of goods that are sold in business markets.
D)   Its customers are less geographically concentrated than business markets.

Question 6

Items such as forklifts are more commonly sold as consumer goods than as business products.

Accepted Answer

A) True 
 B)False

Question 7

Inland Eastex,Inc.manufactures toothpaste.Even when the company increased the price of its toothpaste last year,the sales did not drop.This is an example of _____.

Accepted Answer

A)   elastic demand
B)   inelastic demand
C)   derived demand
D)   joint demand

Question 8

Which of the following statements is true of a new buy?

Accepted Answer

A)   The buyer cannot afford to run out of supply.
B)   It is a situation that requires a change in the original service.
C)   It is a situation that is less critical and quick.
D)   It is a situation that is more time-consuming than a modified rebuy.

Question 9

The NAICS (North American Industry Classification System)is a valuable tool for business marketers engaged in analyzing,segmenting,and targeting markets in which each classification group is relatively homogenous in terms of _______.

Accepted Answer

A)   location,type of product manufactured and problems faced
B)   raw materials required,components used,manufacturing process employed,and problems faced
C)   location of the firm,suppliers of raw materials,output of the company,problems faced
D)   raw materials,location,product manufactured,manufacturing process applied

Question 10

Price is one of the criteria against which business buyers evaluate products and suppliers.

Accepted Answer

A) True 
 B)False

Question 11

For both small and large vendors,paperwork is typically simpler and manageable than if selling at a federal level.

Accepted Answer

A) True 
 B)False

Question 12

A Panasonic product comes into a market segment which includes various solutions like visual system,professional camera,computer products,communications and security since the company caters to__________ market.

Accepted Answer

A)   a business
B)   a consumer
C)   both a business and a consumer
D)   an institutional

Question 13

Which of the following is true about a difference between supplies and business services?

Accepted Answer

A)   Supplies are consumable items,whereas business services are expense items.
B)   Supplies are immoderate compared to other business goods,whereas business services are economical.
C)   Supplies are part of a final product,whereas business services do not become part of a final product.
D)   Supplies are custom designed for each customer,whereas business services are normally standardized.

Question 14

Which of the following statements is true about the federal government?

Accepted Answer

A)   Not many goods and services are used by the federal government.
B)   Much of the federal government's buying is decentralized.
C)   No single federal agency contracts for all the government's requirements,and no single buyer in any agency purchases all that the agency needs.
D)   The U.S.federal government buys goods and services worth less than $875 million per year.

Question 15

Which of the following statements is a difference between wholesalers and retailers?

Accepted Answer

A)   Wholesalers use purchased goods to incorporate into other products,while retailers seek to achieve goals other than the standard business goals of profit.
B)   Wholesalers account for the greatest volume of purchases of any customer category,while retailers buy business products and resell them to business customers.
C)   Wholesalers sell mostly to retailers and other organizational customers,while retailers sell mainly to final consumers.
D)   Wholesalers are often known as original equipment manufacturers,or OEMs,while retailers are often known as buying centers.

Question 16

Outside providers who perform janitorial,advertising,legal,management consulting,marketing research,and maintenance,are examples of ___________.

Accepted Answer

A)   business supplies
B)   component parts
C)   users
D)   business services

Question 17

At Magnira Corp.,a company that manufactures fruit preserves,fruits of excellent quality are used to make jams,jellies,and marmalades.In this scenario,the fruits are examples of _____.

Accepted Answer

A)   raw materials
B)   component parts
C)   MRO items
D)   finished goods

Question 18

A practice in which business purchasers choose to buy from customers of their competitors is called reciprocity.

Accepted Answer

A) True 
 B)False

Question 19

Two types of institutional purchasers exist: one type operates similarly to governments,in that the purchasing process is influenced,determined,or administered by government units.The other type of purchasers ____________.

Accepted Answer

A)   are organized more like corporations
B)   behave more like producers
C)   operate like resellers
D)   are organized like retailer firms

Question 20

The aphorism "hurry up and wait" is often cited as a characteristic of marketing to __________.

Accepted Answer

A)   government agencies
B)   producers
C)   resellers
D)   institutions

Exam 7: Business Marketing

Which of the following characteristics distinguishes business products from consumer products?

Businesses contract outside providers to perform janitorial,advertising,and legal services when it costs less than hiring an employee to perform those particular tasks.

Fluctuating demand is the demand for two or more items used together in a final product.

Which of the following is true of a firm that acts as a consumer marketer?

Items such as forklifts are more commonly sold as consumer goods than as business products.

Inland Eastex,Inc.manufactures toothpaste.Even when the company increased the price of its toothpaste last year,the sales did not drop.This is an example of _____.

Which of the following statements is true of a new buy?

The NAICS (North American Industry Classification System) is a valuable tool for business marketers engaged in analyzing,segmenting,and targeting markets in which each classification group is relatively homogenous in terms of _______.

Price is one of the criteria against which business buyers evaluate products and suppliers.

For both small and large vendors,paperwork is typically simpler and manageable than if selling at a federal level.

A Panasonic product comes into a market segment which includes various solutions like visual system,professional camera,computer products,communications and security since the company caters to__________ market.

Which of the following is true about a difference between supplies and business services?

Which of the following statements is true about the federal government?

Which of the following statements is a difference between wholesalers and retailers?

Outside providers who perform janitorial,advertising,legal,management consulting,marketing research,and maintenance,are examples of ___________.

At Magnira Corp.,a company that manufactures fruit preserves,fruits of excellent quality are used to make jams,jellies,and marmalades.In this scenario,the fruits are examples of _____.

A practice in which business purchasers choose to buy from customers of their competitors is called reciprocity.

Two types of institutional purchasers exist: one type operates similarly to governments,in that the purchasing process is influenced,determined,or administered by government units.The other type of purchasers ____________.

The aphorism "hurry up and wait" is often cited as a characteristic of marketing to __________.