Question 1

_____ is the practice of buying from suppliers who are also customers.

Accepted Answer

A)  merchandisers
B)  trade industries
C)  remanufacturing
D)  nearshoring
E)  end-use application segmentationF) global sourcingG) joint demandH) inelastic demandI) outsourcingJ) value analysisK) gatekeeperL) commercial marketM) reciprocityN) vendor analysisO) category advisorP) modified rebuyQ) demographic characteristics based segmentationR) influencersS) buyerT) customer-based segmentation

Question 2

_____ is the process of dividing a B2B market into groups on the basis of their size,sales revenues,or number of employees.

Accepted Answer

A)  merchandisers
B)  trade industries
C)  remanufacturing
D)  nearshoring
E)  end-use application segmentationF) global sourcingG) joint demandH) inelastic demandI) outsourcingJ) value analysisK) gatekeeperL) commercial marketM) reciprocityN) vendor analysisO) category advisorP) modified rebuyQ) demographic characteristics based segmentationR) influencersS) buyerT) customer-based segmentation

Question 3

A _____ is a trade industry vendor who develops a comprehensive procurement plan for a retail buyer.

Accepted Answer

A)   category captain
B)   merchandiser
C)   boundary spanner
D)   gatekeeper

Question 4

Which of the following is true of expense items purchased by organizational buyers?

Accepted Answer

A)   The cost of these products are charged against the income of the company in the year of purchase.
B)   The net income of these products is determined by charging a portion of their cost against the company's annual revenue.
C)   These items are long lived business assets that must be depreciated over time.
D)   All major expenses such as setting up new plants, equipments and machinery are included in this category.

Question 5

A company's buying center encompasses everyone who is involved in any aspect of its buying activity.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following locations would be ideal for a U.S.firm hoping to nearshore its operations?

Accepted Answer

A)   Poland
B)   China
C)   India
D)   Mexico

Question 7

The demand for computer microprocessor chips depends on the demand for personal computers.This is an example of a(n) :

Accepted Answer

A)   joint demand.
B)   derived demand.
C)   volatile demand.
D)   inelastic demand.

Question 8

A buying center is a basic component of a firm's formal organizational structure.

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

Global sourcing involves contracting with suppliers from around the world to purchase goods and services.

Accepted Answer

A) True 
 B)False

Question 11

Institutions are a major component of the business market that:

Accepted Answer

A)   tend to have greater financial resources than industrial customers.
B)   consist of wholesalers and retailers, who sell the products they buy to final consumers.
C)   include wide variety of organizations that often have diverse buying practices.
D)   acquire products mainly to indirectly support the production of other goods and services.

Question 12

The term "_____" is used to refer to the technical staff such as engineers who affect the buying decision by supplying information to guide evaluation of alternatives or by setting buying specifications.

Accepted Answer

A)  merchandisers
B)  trade industries
C)  remanufacturing
D)  nearshoring
E)  end-use application segmentationF) global sourcingG) joint demandH) inelastic demandI) outsourcingJ) value analysisK) gatekeeperL) commercial marketM) reciprocityN) vendor analysisO) category advisorP) modified rebuyQ) demographic characteristics based segmentationR) influencersS) buyerT) customer-based segmentation

Question 13

What is outsourcing? Why do firms outsource production of goods and services?

Accepted Answer

Outsourcing is the use of outside vendor...

Question 14

Centralized buying tends to emphasize short-term results rather than focusing on long-term relationships.

Accepted Answer

A) True 
 B)False

Question 15

B2B relationships tend to last longer than those in the consumer market.

Accepted Answer

A) True 
 B)False

Question 16

_____ is the systematic study of the components of a purchase to determine the most cost-effective approach.

Accepted Answer

A)  merchandisers
B)  trade industries
C)  remanufacturing
D)  nearshoring
E)  end-use application segmentationF) global sourcingG) joint demandH) inelastic demandI) outsourcingJ) value analysisK) gatekeeperL) commercial marketM) reciprocityN) vendor analysisO) category advisorP) modified rebuyQ) demographic characteristics based segmentationR) influencersS) buyerT) customer-based segmentation

Question 17

Which of the following is the largest segment of the business market?

Accepted Answer

A)   Trade industries, which include retailers, wholesalers, and resellers
B)   The commercial market, which includes anyone who acquires products to support production of other goods and services
C)   Government organizations, including the military, state, and federal governments
D)   Institutions such as hospitals and churches

Question 18

Zardo,Inc.divides its customers into the following categories: manufacturers,retailers,government agencies,and not-for-profit institutions.Which of the following types of segmentations is being used by Zardo?

Accepted Answer

A)   Segmentation by end-use application
B)   Segmentation by customer type
C)   Segmentation by demographic characteristics
D)   Segmentation by purchase categories

Question 19

Institutional markets are characterized by widely diverse buying practices.

Accepted Answer

A) True 
 B)False

Question 20

Personal selling plays a much bigger role in consumer markets than in business markets.

Accepted Answer

A) True 
 B)False

Exam 7: Business-to-Business (B2B)Marketing

What is outsourcing? Why do firms outsource production of goods and services?

Correct AnswerverifiedOutsourcing is the use of outside vendor...View AnswerShow Answer

A buying center is a basic component of a firm's formal organizational structure.

Correct AnswerverifiedShow Answer

Personal selling plays a much bigger role in consumer markets than in business markets.

Correct AnswerverifiedShow Answer

Which of the following is the largest segment of the business market?

Correct AnswerverifiedShow Answer

Global sourcing involves contracting with suppliers from around the world to purchase goods and services.

Correct AnswerverifiedShow Answer

The demand for computer microprocessor chips depends on the demand for personal computers.This is an example of a(n) :

Correct AnswerverifiedShow Answer

A _____ is a trade industry vendor who develops a comprehensive procurement plan for a retail buyer.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

_____ is the practice of buying from suppliers who are also customers.

Correct AnswerverifiedShow Answer

_____ is the process of dividing a B2B market into groups on the basis of their size,sales revenues,or number of employees.

Correct AnswerverifiedShow Answer

Institutions are a major component of the business market that:

Correct AnswerverifiedShow Answer

Which of the following is true of expense items purchased by organizational buyers?

Correct AnswerverifiedShow Answer

_____ is the systematic study of the components of a purchase to determine the most cost-effective approach.

Correct AnswerverifiedShow Answer

Institutional markets are characterized by widely diverse buying practices.

Correct AnswerverifiedShow Answer

Which of the following locations would be ideal for a U.S.firm hoping to nearshore its operations?

Correct AnswerverifiedShow Answer

Zardo,Inc.divides its customers into the following categories: manufacturers,retailers,government agencies,and not-for-profit institutions.Which of the following types of segmentations is being used by Zardo?

Correct AnswerverifiedShow Answer

Centralized buying tends to emphasize short-term results rather than focusing on long-term relationships.

Correct AnswerverifiedShow Answer

A company's buying center encompasses everyone who is involved in any aspect of its buying activity.

Correct AnswerverifiedShow Answer

The term "_____" is used to refer to the technical staff such as engineers who affect the buying decision by supplying information to guide evaluation of alternatives or by setting buying specifications.

Correct AnswerverifiedShow Answer

B2B relationships tend to last longer than those in the consumer market.

Correct AnswerverifiedShow Answer

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