Question 1

Providing superior service to a firm's most valuable customers is likely to result in a maximization of the total business value generated over time.

Accepted Answer

A) True 
 B)False

Question 2

A _____ is used to manufacture other goods or services, to facilitate an organization's operations, or to resell to other customers.

Accepted Answer

A) consumer product 
B) retail product 
C) business product 
D) convenience product

Question 3

Leo buys 500 sheets of paper from a vendor for his printing firm. He is satisfied with the product, and he orders the same quantity from the same vendor every week. This is most likely an example of a(n) _____.

Accepted Answer

A) initiation buy 
B) straight rebuy 
C) new buy 
D) modified rebuy

Question 4

Tamery Corp. is engaged in marketing various goods and services. It buys goods 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 5

Vactin Corp., a construction company, buys ten truckloads of cement for its new project. Given this information, the cement bought is an example of a(n) _____.

Accepted Answer

A) consumer product 
B) service product 
C) industrial product 
D) unsought product

Question 6

The manager of TruColor Printers Inc. has purchased a sophisticated printing press for $1 million. Which of the following statements is most likely to be true about the printing press?

Accepted Answer

A) It will depreciate over its useful life. 
B) It will be charged as an expense in the year it is bought. 
C) It will undergo processing before it is used. 
D) It will be bought through retailers.

Question 7

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

Accepted Answer

A) It is a situation that requires a purchasing contract. 
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 8

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

Accepted Answer

A) True 
 B)False

Question 9

Fournotts Printing Inc. manufactures and sells photocopiers, printers, and scanners to various corporate offices. This is an example of _____.

Accepted Answer

A) contract manufacturing 
B) business marketing 
C) licensing 
D) franchising

Question 10

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

Accepted Answer

A) True 
 B)False

Exam 7: Business Marketing

Providing superior service to a firm's most valuable customers is likely to result in a maximization of the total business value generated over time.

A _____ is used to manufacture other goods or services, to facilitate an organization's operations, or to resell to other customers.

Leo buys 500 sheets of paper from a vendor for his printing firm. He is satisfied with the product, and he orders the same quantity from the same vendor every week. This is most likely an example of a(n) _____.

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

Vactin Corp., a construction company, buys ten truckloads of cement for its new project. Given this information, the cement bought is an example of a(n) _____.

The manager of TruColor Printers Inc. has purchased a sophisticated printing press for $1 million. Which of the following statements is most likely to be true about the printing press?

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

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

Fournotts Printing Inc. manufactures and sells photocopiers, printers, and scanners to various corporate offices. This is an example of _____.

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