Question 1

Figure 5-5a
-Which type of auction does Figure 5-5a represent?

Accepted Answer

A)  reverse auction 
B)  horizontal auction 
C)  vertical auction 
D)  diagonal auction 
E)  traditional auction 
A)  reverse auction 
B)  horizontal auction 
C)  vertical auction 
D)  diagonal auction 
E)  traditional auction

Question 2

In an e-marketplace, an online auction in which a buyer communicates a need for a product or service and would-be suppliers are invited to bid in competition with each other is referred to as a

Accepted Answer

A)  vertical auction. 
B)  reverse auction. 
C)  horizontal auction. 
D)  traditional auction. 
E)  reciprocal auction. 
A)  vertical auction. 
B)  reverse auction. 
C)  horizontal auction. 
D)  traditional auction. 
E)  reciprocal auction.

Question 3

Figure 5-4
-Figure 5-4 shows the three buy classes encountered by organizational buyers. B is referred to as a

Accepted Answer

A)  modified rebuy. 
B)  straight rebuy. 
C)  new buy. 
D)  standard reorder. 
E)  typical buy. 
A)  modified rebuy. 
B)  straight rebuy. 
C)  new buy. 
D)  standard reorder. 
E)  typical buy.

Question 4

Which of the following is a service business within the industrial market?

Accepted Answer

A)  construction 
B)  mining 
C)  insurance 
D)  government 
E)  farming 
A)  construction 
B)  mining 
C)  insurance 
D)  government 
E)  farming

Question 5

Marketers need to understand their customers' buying centers. A series of questions can be used to facilitate this process. Which of the following questions would be the least useful when trying to understand the operations of a buying center?

Accepted Answer

A)  Which individuals are in the buying center for the product or service? 
B)  What is the relative influence of each member of the group? 
C)  What are the buying criteria of each member? 
D)  How does each member of the group perceive our company, our products and services, and our salespeople? 
E)  What criteria were used to select the members of the buying center? 
A)  Which individuals are in the buying center for the product or service? 
B)  What is the relative influence of each member of the group? 
C)  What are the buying criteria of each member? 
D)  How does each member of the group perceive our company, our products and services, and our salespeople? 
E)  What criteria were used to select the members of the buying center?

Question 6

Although the U.S. Justice Department frowns on ________ because it restricts the normal operation of a free market, it is still legal for two companies to have an agreement to buy one another's products.

Accepted Answer

A)  reciprocity 
B)  tying agreements 
C)  just-in-time procurement 
D)  quid pro quo 
E)  supply partnerships 
A)  reciprocity 
B)  tying agreements 
C)  just-in-time procurement 
D)  quid pro quo 
E)  supply partnerships

Question 7

JCPenney looks at several capabilities when selecting a paper supplier. These organizational buying criteria include on-time delivery, the availability, quality and quantity of selected grades of paper, forestry management and sustainable practices, and price. This examination would be done during the ________ stage of the organizational buying decision process.

Accepted Answer

A)  procurement analysis 
B)  break-even analysis 
C)  purchase decision 
D)  information search 
E)  alternative evaluation 
A)  procurement analysis 
B)  break-even analysis 
C)  purchase decision 
D)  information search 
E)  alternative evaluation

Question 8

Small businesses benefit from independent ________ like Amazon Business, PlasticsNet, Hospital Network.com, and TextileWeb.

Accepted Answer

A)  webfronts 
B)  clicks-and-mortar 
C)  e-marketplaces 
D)  iMarkets 
E)  integrated markets 
A)  webfronts 
B)  clicks-and-mortar 
C)  e-marketplaces 
D)  iMarkets 
E)  integrated markets

Question 9

The buying situation where an organization is a first-time buyer of the product or service is referred to as

Accepted Answer

A)  an initial buy. 
B)  a new buy. 
C)  a preliminary buy. 
D)  a straight rebuy. 
E)  a modified rebuy. 
A)  an initial buy. 
B)  a new buy. 
C)  a preliminary buy. 
D)  a straight rebuy. 
E)  a modified rebuy.

Question 10

What are the five stages of the organizational buying process? Describe at least three differences from the consumer buying process.

Accepted Answer

The five stages of the organizational bu

Question 11

Starbucks is using its purchasing power to continue its quest to reduce its energy usage. Recently, the company announced plans to replace all of the traditional incandescent and halogen bulbs in its stores worldwide with more efficient light-emitting diode (LED) bulbs-a move the company claims will enable it to cut energy consumption in its stores by up to 7 percent. Starbucks would be considered a leader in

Accepted Answer

A)  ISO 9000 certification. 
B)  sustainable procurement. 
C)  cause marketing. 
D)  ecological procurement. 
E)  sustainable development. 
A)  ISO 9000 certification. 
B)  sustainable procurement. 
C)  cause marketing. 
D)  ecological procurement. 
E)  sustainable development.

Question 12

The North American Industry Classification System (NAICS)

Accepted Answer

A)  provides common industry definitions for North America, Central America, and South America to measure economic activity in the Western Hemisphere. 
B)  provides common industry definitions between Canada and the United States to measure economic activity and reduce barriers of trade for cross-border firms. 
C)  provides a classification system for products that is consistent worldwide. 
D)  provides a classification system for products that is consistent across North America, Central America, and South America to measure economic activity in the Western Hemisphere. 
E)  provides common industry definitions for Canada, Mexico, and the United States to measure economic activity in the three member countries. 
A)  provides common industry definitions for North America, Central America, and South America to measure economic activity in the Western Hemisphere. 
B)  provides common industry definitions between Canada and the United States to measure economic activity and reduce barriers of trade for cross-border firms. 
C)  provides a classification system for products that is consistent worldwide. 
D)  provides a classification system for products that is consistent across North America, Central America, and South America to measure economic activity in the Western Hemisphere. 
E)  provides common industry definitions for Canada, Mexico, and the United States to measure economic activity in the three member countries.

Question 13

Within the buying center, influencers are people who

Accepted Answer

A)  have the formal authority and responsibility to select the supplier and negotiate the terms of the contract. 
B)  control the flow of information in the buying center. 
C)  affect the buying decision usually by helping define the specifications for what is bought. 
D)  have the formal or informal power to select or approve the supplier that receives the contract. 
E)  actually use and evaluate the product or service. 
A)  have the formal authority and responsibility to select the supplier and negotiate the terms of the contract. 
B)  control the flow of information in the buying center. 
C)  affect the buying decision usually by helping define the specifications for what is bought. 
D)  have the formal or informal power to select or approve the supplier that receives the contract. 
E)  actually use and evaluate the product or service.

Question 14

What is the last stage of the organizational buying decision process?

Accepted Answer

A)  information search 
B)  postpurchase behavior 
C)  alternative evaluation 
D)  purchase decision 
E)  purveyor review 
A)  information search 
B)  postpurchase behavior 
C)  alternative evaluation 
D)  purchase decision 
E)  purveyor review

Question 15

The group of people within an organization who participate in the buying process and share common goals, risks, and knowledge important to a purchase decision is referred to as the

Accepted Answer

A)  gatekeeper. 
B)  buying center. 
C)  purchasing department. 
D)  procurement committee. 
E)  acquisition office. 
A)  gatekeeper. 
B)  buying center. 
C)  purchasing department. 
D)  procurement committee. 
E)  acquisition office.

Question 16

are the three types of organizational buying situations or buy classes? Give an example of each.

Accepted Answer

There are three types of buying situatio

Question 17

Which of the following exemplifies an organizational buyer?

Accepted Answer

A)  A local baker buys sugar at the grocery store to make cookies with his children at home. 
B)  A dentist buys a new couch for her den. 
C)  An architect hires an Uber to take him to the airport for a vacation. 
D)  The owner of an office building contracts with a service to provide overnight janitorial services for it. 
E)  The mayor rents a tuxedo to wear to his daughter's wedding. 
A)  A local baker buys sugar at the grocery store to make cookies with his children at home. 
B)  A dentist buys a new couch for her den. 
C)  An architect hires an Uber to take him to the airport for a vacation. 
D)  The owner of an office building contracts with a service to provide overnight janitorial services for it. 
E)  The mayor rents a tuxedo to wear to his daughter's wedding.

Question 18

Manufacturers, wholesalers, retailers, service companies, not-for-profit organizations, and government agencies that buy goods and services for their own use or for resale are referred to as

Accepted Answer

A)  multinational buyers. 
B)  resellers. 
C)  organizational buyers. 
D)  ultimate consumers. 
E)  institutional buyers. 
A)  multinational buyers. 
B)  resellers. 
C)  organizational buyers. 
D)  ultimate consumers. 
E)  institutional buyers.

Question 19

Which of the following types of firms are in the industrial market?

Accepted Answer

A)  retailing 
B)  fisheries 
C)  wholesaling 
D)  state governments 
E)  federal regulatory agencies 
A)  retailing 
B)  fisheries 
C)  wholesaling 
D)  state governments 
E)  federal regulatory agencies

Question 20

Which of the following characterizes organizational buyer-seller relationships?

Accepted Answer

A)  Purchases are typically made with few to no negotiations. 
B)  Purchases are usually of small dollar values. 
C)  Long-term contracts are often prevalent. 
D)  Reciprocal arrangements are prohibited by the federal government. 
E)  Delivery schedules are largely irrelevant. 
A)  Purchases are typically made with few to no negotiations. 
B)  Purchases are usually of small dollar values. 
C)  Long-term contracts are often prevalent. 
D)  Reciprocal arrangements are prohibited by the federal government. 
E)  Delivery schedules are largely irrelevant.

Figure 5-5a -Which type of auction does Figure 5-5a represent?

In an e-marketplace, an online auction in which a buyer communicates a need for a product or service and would-be suppliers are invited to bid in competition with each other is referred to as a

Figure 5-4 -Figure 5-4 shows the three buy classes encountered by organizational buyers. B is referred to as a

Which of the following is a service business within the industrial market?

Marketers need to understand their customers' buying centers. A series of questions can be used to facilitate this process. Which of the following questions would be the least useful when trying to understand the operations of a buying center?

Although the U.S. Justice Department frowns on ________ because it restricts the normal operation of a free market, it is still legal for two companies to have an agreement to buy one another's products.

Small businesses benefit from independent ________ like Amazon Business, PlasticsNet, Hospital Network.com, and TextileWeb.

The buying situation where an organization is a first-time buyer of the product or service is referred to as

What are the five stages of the organizational buying process? Describe at least three differences from the consumer buying process.

The North American Industry Classification System (NAICS)

Within the buying center, influencers are people who

What is the last stage of the organizational buying decision process?

The group of people within an organization who participate in the buying process and share common goals, risks, and knowledge important to a purchase decision is referred to as the

are the three types of organizational buying situations or buy classes? Give an example of each.

Which of the following exemplifies an organizational buyer?

Manufacturers, wholesalers, retailers, service companies, not-for-profit organizations, and government agencies that buy goods and services for their own use or for resale are referred to as

Which of the following types of firms are in the industrial market?

Which of the following characterizes organizational buyer-seller relationships?

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Understanding the Marketing Environment, Ethical Behavior, and Social Responsibility

Understanding Consumer Behavior

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation, Targeting, and Positioning

Developing New Products and Services

Managing Successful Products, Services, and Brands

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Implementing Interactive and Multichannel Marketing

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Filters

Exam 5: Understanding Organizations As Customers

Figure 5-5a -Which type of auction does Figure 5-5a represent?

In an e-marketplace, an online auction in which a buyer communicates a need for a product or service and would-be suppliers are invited to bid in competition with each other is referred to as a

Figure 5-4 -Figure 5-4 shows the three buy classes encountered by organizational buyers. B is referred to as a

Which of the following is a service business within the industrial market?

Marketers need to understand their customers' buying centers. A series of questions can be used to facilitate this process. Which of the following questions would be the least useful when trying to understand the operations of a buying center?

Although the U.S. Justice Department frowns on ________ because it restricts the normal operation of a free market, it is still legal for two companies to have an agreement to buy one another's products.

Small businesses benefit from independent ________ like Amazon Business, PlasticsNet, Hospital Network.com, and TextileWeb.

The buying situation where an organization is a first-time buyer of the product or service is referred to as

What are the five stages of the organizational buying process? Describe at least three differences from the consumer buying process.

The North American Industry Classification System (NAICS)

Within the buying center, influencers are people who

What is the last stage of the organizational buying decision process?

The group of people within an organization who participate in the buying process and share common goals, risks, and knowledge important to a purchase decision is referred to as the

are the three types of organizational buying situations or buy classes? Give an example of each.

Which of the following exemplifies an organizational buyer?

Manufacturers, wholesalers, retailers, service companies, not-for-profit organizations, and government agencies that buy goods and services for their own use or for resale are referred to as

Which of the following types of firms are in the industrial market?

Which of the following characterizes organizational buyer-seller relationships?

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Understanding the Marketing Environment, Ethical Behavior, and Social Responsibility

Understanding Consumer Behavior

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation, Targeting, and Positioning

Developing New Products and Services

Managing Successful Products, Services, and Brands

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Implementing Interactive and Multichannel Marketing

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Filters