Question 1

Starbucks partnered with Barnes and Nobles bookstores in 1993 to provide in-house coffee shops,benefiting both retailers.What kind of partnership does it represent?

Accepted Answer

A)  Collaboration 
B)  Strategic alliance 
C)  Commitment 
D)  Trust

Question 2

The administrative head of a company proposes to replace and revolutionize the office furniture for the employees comfort.Which of the following roles does the administrator play in this scenario?

Accepted Answer

A)  Influencer 
B)  Initiator 
C)  Gatekeeper 
D)  Purchaser

Question 3

Tamery Corp.is engaged in marketing various goods and services.It buys products from various manufacturers and sells them to businesses and end consumers.Given this information,Tamery Corp.is said to be selling consumer products if:

Accepted Answer

A)  it sells books to students. 
B)  it sells spare parts to automobile manufacturers. 
C)  it sells laptops to an IT company. 
D)  it sells printers to a partnership firm.

Question 4

Explain strategic alliance and the factors that contribute to its long-term survival.

Accepted Answer

The answer of Explain strategic alliance and the factors that...

Question 5

Which of the following is a difference between purchaser and decider?

Accepted Answer

A)  The purchaser actually negotiates the purchase,whereas the decider approves the selection of the supplier. 
B)  The purchaser approves the selection of the supplier and the decider negotiates the purchase. 
C)  The purchaser suggests making a purchase; the decider influences the buying decision. 
D)  The purchaser regulates information about the product and the decider ultimately uses the product.

Question 6

With regard to business customers,which statement is true of institutions?

Accepted Answer

A)  They are profit-oriented companies that use purchased goods to incorporate into other products. 
B)  They are organizations that buy finished goods and resell them for a profit. 
C)  They are buying units that account for the greatest volume of purchases of any customer category. 
D)  They are nonbusinesses in the business markets that seek to achieve goals other than the standard business goals of profit.

Question 7

Anex Textiles,Inc.manufactures cloth and buys the chemical dyes for its use from Werth Chemicals,Inc.Werth Chemicals,Inc.,in turn,buys uniform material for its employees from Anex textiles Inc.This scenario highlights a specific business practice known as ______________.

Accepted Answer

A)  reciprocity 
B)  trust 
C)  reselling 
D)  relationship commitment

Question 8

Some metrics like awareness,engagement,and conversion are useful for _____.

Accepted Answer

A)  increasing the success of a social media campaign 
B)  just building visibility on social media 
C)  gauging the pulse of the end customer 
D)  attracting traffic of suppliers to the website

Question 9

The producers,resellers,governments,and institutions are categories of customers of a ________ market.

Accepted Answer

A)  primary 
B)  secondary 
C)  business 
D)  consumer

Question 10

Which of the following statements is true of processed materials?

Accepted Answer

A)  They include materials such as large or expensive machines,mainframe computers,and generators. 
B)  They include materials such as sheet metal,chemicals,specialty steel,treated lumber,and plastics. 
C)  They include materials such as spark plugs,tires,and electric motors for automobiles. 
D)  They include materials such as lubricants,detergents,paper towels,pencils,and paper.

Question 11

The key characteristic distinguishing business products from consumer products is their intended use,not their physical form.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following statements is true of the North American Industry Classification System (NAICS)?

Accepted Answer

A)  The system developed jointly by United states,Russia,and Mexico,provides a common industry classification system . 
B)  The geographic dispersion of firms cannot be identified with the help of NAICS. 
C)  The more digits in an NAICS code,the more homogeneous the group. 
D)  Each classification is relatively heterogeneous in terms of raw material required,components used,and manufacturing processes employed.

Question 13

Explain the distribution structure followed in business markets.

Accepted Answer

The answer of Explain the distribution structure followed in business...

Question 14

Which of the following statements is true of gatekeepers in a buying center?

Accepted Answer

A)  They initiate the buying process. 
B)  They have the formal power to approve the variery of product to be purchased. 
C)  They regulate the flow of information. 
D)  They negotiate a purchase.

Question 15

The most popular source of information about government procurement is ____________.

Accepted Answer

A)  FedBizOpps 
B)  Commerce Business Daily 
C)  NAICS 
D)  AFTA

Question 16

The size of the business market in the United States and most other countries substantially exceeds that of the consumer market.

Accepted Answer

A) True 
 B)False

Question 17

The firms belonging to construction,manufacturing,transportation,finance,real estate,and food service industries,fall under the category of _____________.

Accepted Answer

A)  resellers 
B)  producers 
C)  distributors 
D)  governments

Question 18

Derived demand means that an increase or decrease in the price of the product will significantly affect demand for the product.

Accepted Answer

A) True 
 B)False

Question 19

L&T,an international manufacturer of electrical and electronic products and systems,also manufactures custom-engineered switchboards for industrial sectors such as power,refineries,petrochemicals,and cement.In the electronic segment,L&T offers a range of meters and provides control and automation systems for industries.The company manufactures __________ and markets exclusively to _________.

Accepted Answer

A)  business products,business customers 
B)  industrial products,final consumers 
C)  consumer products,businesses 
D)  consumer products,business customers

Question 20

A detailed numbering system developed by the United States,Canada,and Mexico to classify North American business establishments by their main production processes is the NAKES system.See 7-5: The North American Industry Classification System.

Accepted Answer

A) True 
 B)False

Exam 7: Business Marketing

Starbucks partnered with Barnes and Nobles bookstores in 1993 to provide in-house coffee shops,benefiting both retailers.What kind of partnership does it represent?

The administrative head of a company proposes to replace and revolutionize the office furniture for the employees comfort.Which of the following roles does the administrator play in this scenario?

Tamery Corp.is engaged in marketing various goods and services.It buys products from various manufacturers and sells them to businesses and end consumers.Given this information,Tamery Corp.is said to be selling consumer products if:

Explain strategic alliance and the factors that contribute to its long-term survival.

Which of the following is a difference between purchaser and decider?

With regard to business customers,which statement is true of institutions?

Anex Textiles,Inc.manufactures cloth and buys the chemical dyes for its use from Werth Chemicals,Inc.Werth Chemicals,Inc.,in turn,buys uniform material for its employees from Anex textiles Inc.This scenario highlights a specific business practice known as ______________.

Some metrics like awareness,engagement,and conversion are useful for _____.

The producers,resellers,governments,and institutions are categories of customers of a ________ market.

Which of the following statements is true of processed materials?

The key characteristic distinguishing business products from consumer products is their intended use,not their physical form.

Which of the following statements is true of the North American Industry Classification System (NAICS) ?

Explain the distribution structure followed in business markets.

Which of the following statements is true of gatekeepers in a buying center?

The most popular source of information about government procurement is ____________.

The size of the business market in the United States and most other countries substantially exceeds that of the consumer market.

The firms belonging to construction,manufacturing,transportation,finance,real estate,and food service industries,fall under the category of _____________.

Derived demand means that an increase or decrease in the price of the product will significantly affect demand for the product.

A detailed numbering system developed by the United States,Canada,and Mexico to classify North American business establishments by their main production processes is the NAKES system.See 7-5: The North American Industry Classification System.