FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 1: A Business Marketing Perspective

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 41

Short Answer

Review LaterAdd Note

Review Later

Because demand in business markets is derived from consumer markets,business must carefully monitor demand patterns and changing consumer buying preferences.Because of these changes,the demand for many industrial products can be described as:

Correct Answer

verified

Show Answer

Question 42

Multiple Choice

Review LaterAdd Note

Review Later

Concerning the classification of customers in the business market,General Motors is a(n) ____ when purchasing a mainframe computer system from IBM,but is a(n) ____ when purchasing tires from Goodyear.

A) user; original equipment manufacturer (OEM)
B) user; distributor
C) original equipment manufacturer (OEM) ; user
D) user; upstream supplier
E) original equipment manufacturer (OEM) ; downstream supplier

Correct Answer

verified

Show Answer

Question 43

True/False

Review LaterAdd Note

Customers in the business market can be broadly classified into three categories: (1)commercial enterprises; (2)government; and (3)institutions.

Using a product of your choice,illustrate the concept of the supply chain and indicate which elements or exchange relationships fall into the business versus the consumer-goods marketing domain.

The demand for industrial products is derived from the ultimate demand for consumer products.

The use of a goods classification system can be extremely valuable to business marketers because:

None of the products purchased by customers in the business market are the same as those purchased by ultimate consumers.

Market-driven firms demonstrate:

Companies can demonstrate market-sensing and customer-linking capabilities by:

Please explain the following statement and how it affects business marketers. "All business marketing decisions - product,price,promotion,and distribution - are affected,directly or indirectly,by other functional areas.In turn,marketing considerations influence business decisions in R&D and in manufacturing and procurement,as well as adjustments in the overall corporate strategy."

When purchasing manufacturing equipment from General Electric,Chrysler would be classified as:

A close examination of a market-driven firm will reveal two important capabilities: market sensing and customer linking.

Hayes enjoys a well-established position as a supplier to the automobile industry.The firm supplied wheels to the Model T Ford.Today,Hayes is betting on a new product,fabricated aluminum wheels,which weigh up to 20 percent less than cast aluminum wheels and 40 percent less than steel ones.Hayes has signed contracts worth $50 million for the new wheels-mostly for use in spare tires-with DaimlerChrysler,Ford,General Motors,and BMW.Drawing on the industrial goods classification scheme,how would you classify the aluminum wheels? Sketch out the critical buying motives that organizations like DaimlerChrysler would emphasize in evaluating the wheels and explore Hayes' associated marketing strategy implications.

Like supplies,business services are considered expense items.Business services can be classified as:

Due to downturns in the economy,the demand for many consumer products tends to fluctuate more than the demand for industrial products.

As an industrial customer,Ford Motor Company would be classified as:

Smucker's sells products to both business and consumer markets.Compare and contrast the marketing strategies that Smucker's will use when selling their products to each type of market.

Mead Paper Company recently purchased a new high-speed paper machine for one of their plants.The new machine is used in manufacturing a special grade of paper at a rate of over 1500 feet per minute.This product would be classified as:

Business marketers that define their business markets with a horizon that stretches beyond the boundaries of their own country to include foreign markets for industrial goods and services employ:

Dayco increased the price of the drive belts that it sells to General Motors by 5 percent and sales of the item grew by 9 percent.Price elasticity of demand for drive belts appears to be: