Question 1

The purchasing department buys office supplies on a routine basis from a pre-approved list of suppliers.This type of purchase is classified as a ________.

Accepted Answer

A) straight rebuy 
B) modified rebuy 
C) new task 
D) secondary purchase 
E) procure-to-pay 
A) straight rebuy 
B) modified rebuy 
C) new task 
D) secondary purchase 
E) procure-to-pay A

Question 2

Business buyers may get new ideas at a trade show,see an ad,or receive a call from a sales representative who offers a better product or a lower price compared to the current in-supplier.These situations spur the ________ stage.

Accepted Answer

A) problem recognition 
B) general need description 
C) order-routine specification 
D) supplier search 
E) performance review 
A) problem recognition 
B) general need description 
C) order-routine specification 
D) supplier search 
E) performance review A

Question 3

The buyer in a straight rebuy usually changes product specifications,prices,delivery requirements,or other terms.

Accepted Answer

A) True 
 B)False  False

Question 4

Which of the following is a step in the straight rebuy buyclass?

Accepted Answer

A) problem recognition 
B) general need description 
C) product specification 
D) supplier search 
E) proposal solicitation 
A) problem recognition 
B) general need description 
C) product specification 
D) supplier search 
E) proposal solicitation

Question 5

What do you understand by "blanket contract"?

Accepted Answer

A blanket contract establishes

Question 6

Systems selling is a key industrial marketing strategy in bidding to build large-scale industrial projects.Competition for these projects is fierce.What are the main areas of competition for these project engineering firms?

Accepted Answer

Primary competitive

Question 7

According to research studies,the closest relationships between customers and suppliers arose when ________.

Accepted Answer

A) the supply was important to the customer and when there were procurement obstacles 
B) procurement is simple 
C) there are many undifferentiated vendors in the marketplace 
D) the customer is highly price sensitive 
E) the suppliers charge a premium for their products 
A) the supply was important to the customer and when there were procurement obstacles 
B) procurement is simple 
C) there are many undifferentiated vendors in the marketplace 
D) the customer is highly price sensitive 
E) the suppliers charge a premium for their products

Question 8

Most business buyers reject what is called systems buying from one seller.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following is true for business marketers?

Accepted Answer

A) They deal with more and larger buyers than consumer marketers. 
B) They deal with more and smaller buyers than consumer marketers. 
C) They deal with fewer and larger buyers than consumer marketers. 
D) They deal with fewer and smaller buyers than consumer marketers. 
E) They deal with the same kind of buyers as consumer marketers. 
A) They deal with more and larger buyers than consumer marketers. 
B) They deal with more and smaller buyers than consumer marketers. 
C) They deal with fewer and larger buyers than consumer marketers. 
D) They deal with fewer and smaller buyers than consumer marketers. 
E) They deal with the same kind of buyers as consumer marketers.

Question 10

On an online ________ ,prices change by the minute.

Accepted Answer

A) buying alliance 
B) barter market 
C) systems seller 
D) spot market 
E) catalog site 
A) buying alliance 
B) barter market 
C) systems seller 
D) spot market 
E) catalog site

Question 11

Xerox offers a ________ approach to prospective clients when it offers a complete turnkey solution,including the operation and management of the client's information and communication need.

Accepted Answer

A) guided selling 
B) fair trading 
C) systems buying 
D) cross-selling 
E) local purchasing 
A) guided selling 
B) fair trading 
C) systems buying 
D) cross-selling 
E) local purchasing

Question 12

The ________ market consists of schools,hospitals,nursing homes,prisons,and other institutions that must provide goods and services to people in their care.

Accepted Answer

A) vertical 
B) nonprofit 
C) spot 
D) secondary business 
E) institutional 
A) vertical 
B) nonprofit 
C) spot 
D) secondary business 
E) institutional

Question 13

Orica Pte Ltd competes in the market for commercial explosives.The company recently changed its business model from just selling explosives to managing an entire blast in a quarry.This customer-solution-based approach to the sale of explosives is an example of ________.

Accepted Answer

A) systems selling 
B) straight rebuying 
C) customer referencing 
D) derived demand 
E) channel consolidation 
A) systems selling 
B) straight rebuying 
C) customer referencing 
D) derived demand 
E) channel consolidation

Question 14

________ is a key industrial marketing strategy in bidding to build large-scale industrial products such as dams,pipelines,etc.

Accepted Answer

A) Systems contracting 
B) Systems buying 
C) Systems selling 
D) Solutions buying 
E) Turnkey logistics 
A) Systems contracting 
B) Systems buying 
C) Systems selling 
D) Solutions buying 
E) Turnkey logistics

Question 15

In the business market,small sellers concentrate on reaching as many participants as possible because their chances of success are slim.

Accepted Answer

A) True 
 B)False

Question 16

The approach to cost reduction that studies whether components can be redesigned or standardized or made by cheaper methods of production without adversely impacting product performance is termed as ________.

Accepted Answer

A) maintenance,repair,and operating (MRO) 
B) product value analysis (PV
A)  
C) vendor managed inventories (VMI) 
D) supplier performance management (SPM) 
E) supplier added value effort (SAV
E)  
A) maintenance,repair,and operating (MRO) 
B) product value analysis (PV
A)  
C) vendor managed inventories (VMI) 
D) supplier performance management (SPM) 
E) supplier added value effort (SAV
E)

Question 17

Which type of buying situation would be preferred if the management wants to minimize decision-making time and effort?

Accepted Answer

The business buyer makes the f

Question 18

The buying center is where consumers go to purchase their goods and services.

Accepted Answer

A) True 
 B)False

Question 19

Business marketers can stimulate problem recognition by ________.

Accepted Answer

A) ensuring a presence in trade directories 
B) direct mail,telemarketing,and calling on prospects 
C) encouraging the Better Business Bureau to release statistics 
D) using consumer advertising 
E) conducting surveys of existing customers 
A) ensuring a presence in trade directories 
B) direct mail,telemarketing,and calling on prospects 
C) encouraging the Better Business Bureau to release statistics 
D) using consumer advertising 
E) conducting surveys of existing customers

Question 20

The total demand for many business goods and services is inelastic,that is,not much affected by price changes.

Accepted Answer

A) True 
 B)False

Exam 7: Analyzing Business Markets

The purchasing department buys office supplies on a routine basis from a pre-approved list of suppliers.This type of purchase is classified as a ________.

Business buyers may get new ideas at a trade show,see an ad,or receive a call from a sales representative who offers a better product or a lower price compared to the current in-supplier.These situations spur the ________ stage.

The buyer in a straight rebuy usually changes product specifications,prices,delivery requirements,or other terms.

Which of the following is a step in the straight rebuy buyclass?

What do you understand by "blanket contract"?

Systems selling is a key industrial marketing strategy in bidding to build large-scale industrial projects.Competition for these projects is fierce.What are the main areas of competition for these project engineering firms?

According to research studies,the closest relationships between customers and suppliers arose when ________.

Most business buyers reject what is called systems buying from one seller.

Which of the following is true for business marketers?

On an online ________ ,prices change by the minute.

Xerox offers a ________ approach to prospective clients when it offers a complete turnkey solution,including the operation and management of the client's information and communication need.

The ________ market consists of schools,hospitals,nursing homes,prisons,and other institutions that must provide goods and services to people in their care.

Orica Pte Ltd competes in the market for commercial explosives.The company recently changed its business model from just selling explosives to managing an entire blast in a quarry.This customer-solution-based approach to the sale of explosives is an example of ________.

________ is a key industrial marketing strategy in bidding to build large-scale industrial products such as dams,pipelines,etc.

In the business market,small sellers concentrate on reaching as many participants as possible because their chances of success are slim.

The approach to cost reduction that studies whether components can be redesigned or standardized or made by cheaper methods of production without adversely impacting product performance is termed as ________.

Which type of buying situation would be preferred if the management wants to minimize decision-making time and effort?

The buying center is where consumers go to purchase their goods and services.

Business marketers can stimulate problem recognition by ________.

The total demand for many business goods and services is inelastic,that is,not much affected by price changes.

Defining Marketing for the New Realities

Developing Marketing Strategies and Plans

Gathering Information and Forecasting Demand

Conducting Marketing Research

Creating Customer Value,satisfaction,and Loyalty

Analyzing Consumer Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Competitive Dynamics

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Marketing Channels and Value Networks

Managing Retailing,wholesaling,and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, sales Promotions, events, and Public Relations

Managing Digital Communications: Online, social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Introducing New Market Offerings

Tapping Into Global Markets

Managing a Holistic Marketing Organization

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