Question 1

More dollars and items change hands in sales to business buyers than to consumers.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following would NOT be among those advantages gained through leasing heavy equipment such as machinery and trucks,rather than purchasing it

Accepted Answer

A)  Higher-quality products 
B)  Conserving capital 
C)  Getting the latest products 
D)  Receiving better service 
E)  Some tax advantages

Question 3

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 4

________ 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 5

Business buyers are ultimately purchasing solutions to two problems: the organization's economic and strategic problem and ________.

Accepted Answer

A)  their own personal need for individual achievement and reward 
B)  the community's continued health and well-being 
C)  the fulfillment of the company's social impact goals 
D)  to maximize overall firm performance 
E)  none of the above

Question 6

If Ampex Support Systems is the single supplier for a local manufacturing company's MRO (maintenance,repair,operating)supplies and needs,Ampex Support Systems is considered as providing ________ for the manufacturer.

Accepted Answer

A)  systems buying 
B)  purchasing support 
C)  turnkey logistics 
D)  decision support 
E)  systems contracting

Question 7

The business buyer makes the fewest decisions in the ________.

Accepted Answer

A)  modified rebuy 
B)  regular buy 
C)  straight rebuy 
D)  new rebuy 
E)  new task

Question 8

The new,more strategically oriented purchasing departments have a mission to ________.

Accepted Answer

A)  always make a profit 
B)  always take the lowest bid 
C)  seek the best value from fewer and better suppliers 
D)  continue to seek outsourcing as their primary strategy 
E)  use consultants whenever possible

Question 9

The typical buying center has a minimum of ________ members.

Accepted Answer

A)  2-3 
B)  3-4 
C)  4-5 
D)  5-6 
E)  10

Question 10

In the "customer is king" category of buyer-seller relationship,the category is characterized as being one that it relatively simple where routine exchanges with moderately high levels of cooperation and information exchange occurs.

Accepted Answer

A) True 
 B)False

Question 11

Initiators are those who authorize the proposed action of deciders or buyers.

Accepted Answer

A) True 
 B)False

Question 12

Value Central gives certain suppliers access to its sophisticated and detailed daily,individual store-based sales data.In exchange,those suppliers are responsible for managing Value Central's inventory of their products.This relationship is best described as ________.

Accepted Answer

A)  basic buying and selling 
B)  contractual transaction 
C)  collaborative 
D)  customer supply 
E)  customer is king

Question 13

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 14

Webster and Wind define organizational buying as the decision-making process by which formal organizations establish the need for purchased products and services and identify,evaluate,and choose among alternative brands and suppliers.

Accepted Answer

A) True 
 B)False

Question 15

Small business owners typically engage in long-range planning in order to effectively budget for purchases over the upcoming three to five years.

Accepted Answer

A) True 
 B)False

Question 16

How do large and small sellers differ in their approaches to buying center targeting

Accepted Answer

The answer of How do large and small sellers differ...

Question 17

List and briefly characterize five methods of assessing customer value.

Accepted Answer

The answer of List and briefly characterize five methods of...

Question 18

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 19

Trained purchasing agents,who must follow their organization's ________,often purchase business goods.

Accepted Answer

A)  culture 
B)  past purchasing history 
C)  purchasing policies, constraints, and requirements 
D)  needs 
E)  financial budgets

Question 20

A supplier signs an agreement with a customer that states $350,000 in savings will be earned by the customer over the next 18 months in an exchange for a tenfold increase in the customer's share of supplies ordered by the customer.This is an example of ________.

Accepted Answer

A)  solution selling 
B)  consultative selling 
C)  risk and gain sharing 
D)  strategic alignment 
E)  demand shifting

Exam 7: Analyzing Business Markets

More dollars and items change hands in sales to business buyers than to consumers.

Which of the following would NOT be among those advantages gained through leasing heavy equipment such as machinery and trucks,rather than purchasing it

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

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

Business buyers are ultimately purchasing solutions to two problems: the organization's economic and strategic problem and ________.

If Ampex Support Systems is the single supplier for a local manufacturing company's MRO (maintenance,repair,operating) supplies and needs,Ampex Support Systems is considered as providing ________ for the manufacturer.

The business buyer makes the fewest decisions in the ________.

The new,more strategically oriented purchasing departments have a mission to ________.

The typical buying center has a minimum of ________ members.

In the "customer is king" category of buyer-seller relationship,the category is characterized as being one that it relatively simple where routine exchanges with moderately high levels of cooperation and information exchange occurs.

Initiators are those who authorize the proposed action of deciders or buyers.

Value Central gives certain suppliers access to its sophisticated and detailed daily,individual store-based sales data.In exchange,those suppliers are responsible for managing Value Central's inventory of their products.This relationship is best described as ________.

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.

Webster and Wind define organizational buying as the decision-making process by which formal organizations establish the need for purchased products and services and identify,evaluate,and choose among alternative brands and suppliers.

Small business owners typically engage in long-range planning in order to effectively budget for purchases over the upcoming three to five years.

How do large and small sellers differ in their approaches to buying center targeting

List and briefly characterize five methods of assessing customer value.

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.

Trained purchasing agents,who must follow their organization's ________,often purchase business goods.

A supplier signs an agreement with a customer that states $350,000 in savings will be earned by the customer over the next 18 months in an exchange for a tenfold increase in the customer's share of supplies ordered by the customer.This is an example of ________.