Question 1

Which of the following is true of a buying center in an organization?

Accepted Answer

A) The buying center is an integral part of a firm's formal organizational structure. 
B) The composition of the buying center remains the same for all purchase situations. 
C) The buying center includes everyone involved in any aspect of the buying process. 
D) It is a group of people in an organization who are responsible for developing new product concepts.

Question 2

​Your Pies Inc.supplies desserts to restaurants.Its purchasing decision makers are subject to many influences; among the most important are the state of the economy,the cost of flour,food safety regulations,and competition.All of these influences have certain characteristics in common.They are:

Accepted Answer

A) ​internal 
B) ​external 
C) ​environmental 
D) ​interpersonal 
E) ​organizational

Question 3

Organizational purchasing decisions tend to be standardized,resulting in the same procedures being used for both capital and expense items.

Accepted Answer

A) True 
 B)False

Question 4

Jayden is a computer programmer who is employed for TekSystems.TekSystems recruits programmers and other IT specialists to its company so they can fulfill needs on a contract basis with Fortune 500 companies such as Allstate and Procter and Gamble.TekSystems is utilizing _____ to place it's IT professionals within Fortune 500 firms for a limited time to provide agreed-upon work products.

Accepted Answer

A) ​outsourcing 
B) ​offshoring 
C) ​nearshoring 
D) ​job placement

Question 5

The practice of using outside vendors to provide goods and services that were formerly produced in-house is known as _____.

Accepted Answer

A) outsourcing 
B) sole sourcing 
C) supply chain inversion 
D) leasing

Question 6

Match each item with the correct statement below.
-If the demand for a product remains constant,regardless of the change in price,then the product is said to exhibit _____.

Accepted Answer

A) merchandisers 
B) trade industries 
C) remanufacturing 
D) nearshoring 
E) end-use application segmentation
F)global sourcing
G)joint demand
H)inelastic demand
I)outsourcing
J)value analysis
K)gatekeeper
L)commercial market
M)reciprocity
N)vendor analysis
O)category advisor
P)modified rebuy
Q)demographic characteristics based segmentation
R)influencers
S)buyer
T)customer-based segmentation

Question 7

Which is the largest single source of statistical information on the sizes and characteristics of business markets?

Accepted Answer

A) The North American Industry Classification System 
B) Business publications 
C) Auditing firms such as PricewaterhouseCoopers 
D) Federal government

Question 8

The demand for gold has remained the same in the market regardless of the rise in its price,because there is no other replacement for the product.This type of demand experienced by gold is referred to as a(n)_____.

Accepted Answer

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

Question 9

When Cannondale purchases aluminum for use in its bicycle frames,the company is participating in the commercial market.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following stages of the organizational buying process involves comparing vendors' proposals?

Accepted Answer

A) Searching for potential sources 
B) Acquiring and analyzing proposals 
C) Recognizing and determining the characteristics of a need 
D) Evaluating proposals and selecting suppliers

Question 11

DigiSmart,a manufacturer of electronic goods in Canada,has moved its manufacturing operations to Costa Rica.This move has helped the company to reduce its production costs and also allowed it to focus on the product design and research activities that lead to new products.The movement of business in this case is an example of _____.

Accepted Answer

A) leasing 
B) offshoring 
C) inshoring 
D) global integration

Question 12

A company decides to ____________ a good or service it formerly made internally so that it can reduce its costs and provide higher-value items to its consumers.​

Accepted Answer

A) ​outsource 
B) ​export 
C) ​offshore 
D) ​nearshore 
E) ​lease

Question 13

Janelle works in the purchasing department of an apparel manufacturing company and has the formal authority to select a supplier.Janelle is a(n):

Accepted Answer

A) buyer. 
B) influencer. 
C) gatekeeper. 
D) decider.

Question 14

In business markets,discounts and distribution functions have proven to be ineffective in obtaining or keeping institutions as customers.

Accepted Answer

A) True 
 B)False

Question 15

The North American Industry Classification System (NAICS)uses __________ digits.The first ________ digits are fixed among the members of the North American Free Trade Agreement (NAFTA).​

Accepted Answer

A) ​four; three 
B) ​six; four 
C) ​five; two 
D) ​six; five 
E) ​three; two

Question 16

The commercial market consists of wholesalers and retailers who purchase goods primarily to sell it to the final consumers.

Accepted Answer

A) True 
 B)False

Question 17

Describe the major approaches used by marketers to segment business-to-business markets.

Accepted Answer

The answer of Describe the major approaches used by marketers...

Question 18

Santiago is the manager of a Jimmy John's franchise and is responsible for placing orders for all products and services the restaurant utilizes.He has a great relationship with Cintas to provide cleaning equipment to sanitize the bathrooms and kitchen/prep areas.Since Santiago is pleased with the items he purchases from Cintas,he simply continues to order and is fairly loyal to his Cintas sales representative.What type of buying situation does Santiago utilize when purchasing cleaning supplies from Cintas?

Accepted Answer

A) ​straight rebuy 
B) ​modified rebuy 
C) ​new-task 
D) ​routinized response behavior

Question 19

Match each item with the correct statement below.
-The term _____ refers to the efforts to restore older products to like-new condition.

Accepted Answer

A) merchandisers 
B) trade industries 
C) remanufacturing 
D) nearshoring 
E) end-use application segmentation
F)global sourcing
G)joint demand
H)inelastic demand
I)outsourcing
J)value analysis
K)gatekeeper
L)commercial market
M)reciprocity
N)vendor analysis
O)category advisor
P)modified rebuy
Q)demographic characteristics based segmentation
R)influencers
S)buyer
T)customer-based segmentation

Question 20

A straight rebuy is the business market equivalent of extended problem solving in the consumer market.

Accepted Answer

A) True 
 B)False

Exam 7: Business-To-Business B2bmarketing

Which of the following is true of a buying center in an organization?

Your Pies Inc.supplies desserts to restaurants.Its purchasing decision makers are subject to many influences; among the most important are the state of the economy,the cost of flour,food safety regulations,and competition.All of these influences have certain characteristics in common.They are:

Organizational purchasing decisions tend to be standardized,resulting in the same procedures being used for both capital and expense items.

The practice of using outside vendors to provide goods and services that were formerly produced in-house is known as _____.

Match each item with the correct statement below. -If the demand for a product remains constant,regardless of the change in price,then the product is said to exhibit _____.

Which is the largest single source of statistical information on the sizes and characteristics of business markets?

The demand for gold has remained the same in the market regardless of the rise in its price,because there is no other replacement for the product.This type of demand experienced by gold is referred to as a(n) _____.

When Cannondale purchases aluminum for use in its bicycle frames,the company is participating in the commercial market.

Which of the following stages of the organizational buying process involves comparing vendors' proposals?

A company decides to ____________ a good or service it formerly made internally so that it can reduce its costs and provide higher-value items to its consumers.

Janelle works in the purchasing department of an apparel manufacturing company and has the formal authority to select a supplier.Janelle is a(n) :

In business markets,discounts and distribution functions have proven to be ineffective in obtaining or keeping institutions as customers.

The North American Industry Classification System (NAICS) uses __ digits.The first digits are fixed among the members of the North American Free Trade Agreement (NAFTA) .

The commercial market consists of wholesalers and retailers who purchase goods primarily to sell it to the final consumers.

Describe the major approaches used by marketers to segment business-to-business markets.

Match each item with the correct statement below. -The term _____ refers to the efforts to restore older products to like-new condition.

A straight rebuy is the business market equivalent of extended problem solving in the consumer market.

Exam 7: Business-To-Business B2bmarketing

Which of the following is true of a buying center in an organization?

​Your Pies Inc.supplies desserts to restaurants.Its purchasing decision makers are subject to many influences; among the most important are the state of the economy,the cost of flour,food safety regulations,and competition.All of these influences have certain characteristics in common.They are:

Organizational purchasing decisions tend to be standardized,resulting in the same procedures being used for both capital and expense items.

The practice of using outside vendors to provide goods and services that were formerly produced in-house is known as _____.

Match each item with the correct statement below. -If the demand for a product remains constant,regardless of the change in price,then the product is said to exhibit _____.

Which is the largest single source of statistical information on the sizes and characteristics of business markets?

The demand for gold has remained the same in the market regardless of the rise in its price,because there is no other replacement for the product.This type of demand experienced by gold is referred to as a(n) _____.

When Cannondale purchases aluminum for use in its bicycle frames,the company is participating in the commercial market.

Which of the following stages of the organizational buying process involves comparing vendors' proposals?

A company decides to ____________ a good or service it formerly made internally so that it can reduce its costs and provide higher-value items to its consumers.​

Janelle works in the purchasing department of an apparel manufacturing company and has the formal authority to select a supplier.Janelle is a(n) :

In business markets,discounts and distribution functions have proven to be ineffective in obtaining or keeping institutions as customers.

The North American Industry Classification System (NAICS) uses __________ digits.The first ________ digits are fixed among the members of the North American Free Trade Agreement (NAFTA) .​

The commercial market consists of wholesalers and retailers who purchase goods primarily to sell it to the final consumers.

Describe the major approaches used by marketers to segment business-to-business markets.

Match each item with the correct statement below. -The term _____ refers to the efforts to restore older products to like-new condition.

A straight rebuy is the business market equivalent of extended problem solving in the consumer market.

Your Pies Inc.supplies desserts to restaurants.Its purchasing decision makers are subject to many influences; among the most important are the state of the economy,the cost of flour,food safety regulations,and competition.All of these influences have certain characteristics in common.They are:

A company decides to ____________ a good or service it formerly made internally so that it can reduce its costs and provide higher-value items to its consumers.

The North American Industry Classification System (NAICS) uses __ digits.The first digits are fixed among the members of the North American Free Trade Agreement (NAFTA) .