Question 1

The emergence of the Internet has made buying and selling in the business market a process that is only efficient for the largest producer to pursue.

Accepted Answer

A) True 
 B)False  False

Question 2

Kaplan Construction needs a backhoe for a job,so Donna Kaplan decides to lease the equipment from Premier Leasing Services.In this case:

Accepted Answer

A)  Kaplan is the licensee 
B)  Premier is the lessee 
C)  Kaplan is the licensor 
D)  Premier is the lessor 
E)  Kaplan is the lessor 
A)  Kaplan is the licensee 
B)  Premier is the lessee 
C)  Kaplan is the licensor 
D)  Premier is the lessor 
E)  Kaplan is the lessor D

Question 3

A decline in the availability of tungsten will slow production of light filaments,which will in turn reduce the demand for light bulbs.This is an example of fluctuating demand.

Accepted Answer

A) True 
 B)False  False

Question 4

Which of the following statements about the government business market is CORRECT?

Accepted Answer

A)  Only large vendors with annual sales of more than $20 million are authorized to sell to the federal government;small vendors are restricted to the state and local government market. 
B)  The Office of Management and Budget is the federal agency that contracts for all the U.S.government's buying requirements. 
C)  Selling to states,counties,and cities can be less frustrating for both small and large vendors than selling to the federal government. 
D)  The president of the United States must personally authorize all federal government purchases. 
E)  Contracts for government purchases are rarely put out for bid. 
A)  Only large vendors with annual sales of more than $20 million are authorized to sell to the federal government;small vendors are restricted to the state and local government market. 
B)  The Office of Management and Budget is the federal agency that contracts for all the U.S.government's buying requirements. 
C)  Selling to states,counties,and cities can be less frustrating for both small and large vendors than selling to the federal government. 
D)  The president of the United States must personally authorize all federal government purchases. 
E)  Contracts for government purchases are rarely put out for bid.

Question 5

Rock-Tenn
Rock-Tenn produces packaging products.They make cartons that will hold a dozen Dunkin' Donuts,waffle fries for Chik-fil-A,Gillette razors,Haagen -Daz ice cream,express mail envelopes for FedEx and much more.Rock-Tenn business fluctuates depending on consumer demand.As plastic products become more expensive companies turn to cardboard and paper to package their products.
-Refer to Rock-Tenn.Lubricants used to maintain the machinery that produces cartons would be an example of:

Accepted Answer

A)  major equipment 
B)  accessory equipment 
C)  raw materials 
D)  supplies 
E)  processed materials 
A)  major equipment 
B)  accessory equipment 
C)  raw materials 
D)  supplies 
E)  processed materials

Question 6

Rock-Tenn
Rock-Tenn produces packaging products.They make cartons that will hold a dozen Dunkin' Donuts,waffle fries for Chik-fil-A,Gillette razors,Haagen -Daz ice cream,express mail envelopes for FedEx and much more.Rock-Tenn business fluctuates depending on consumer demand.As plastic products become more expensive companies turn to cardboard and paper to package their products.
-Refer to Rock-Tenn.Rock-Tenn makes paper products for companies to use in their product and service offerings.Rock-Tenn buys paper,wood chips,and supplies from companies to make its cartons.Rock-Tenn would be considered a(n):

Accepted Answer

A)  FAQ 
B)  NAICS 
C)  OEM 
D)  NP 
E)  LOL 
A)  FAQ 
B)  NAICS 
C)  OEM 
D)  NP 
E)  LOL

Question 7

The government uses a system called NAICS to classify North American business establishments.NAICS stands for:

Accepted Answer

A)  Non-American Industry Classification System 
B)  North and South American Institutional Coding Services 
C)  Non-American Industrial Corporation System 
D)  North American Institution Code System 
E)  North American Industry Classification System 
A)  Non-American Industry Classification System 
B)  North and South American Institutional Coding Services 
C)  Non-American Industrial Corporation System 
D)  North American Institution Code System 
E)  North American Industry Classification System

Question 8

Claxton Fruitcakes
One common Christmas tradition in many households is the Claxton fruitcake.The fruitcake bakery in Claxton,Georgia,makes about 6 million pounds of fruitcake annually and has $12 million in sales.One fruitcake batch weighs 375 pounds.About 70 percent of that weight is fruits and nuts.A single batch is divided into 34 loaf pans that hold 11 pounds each.Loaves are cooked for 100 minutes at 375 degrees.The bakery can cook 6,000 pounds at a time.During the baking season (August-December),the bakery uses a tractor-trailer load of raisins each day.The suggested retail price of a one-pound Claxton fruitcake is $3.69.
-Refer to Claxton Fruitcakes.Because demand for raisins to bake into the fruitcakes does not change on the basis of the price fluctuations of dried fruits,Claxton's demand for raisins is an example of _____ demand.

Accepted Answer

A)  inelastic 
B)  derived 
C)  fluctuating 
D)  elastic 
E)  joint 
A)  inelastic 
B)  derived 
C)  fluctuating 
D)  elastic 
E)  joint

Question 9

General Motors buys engines for use in its vehicles from BorgWarner,which in turn buys many of the vehicles it needs from GM.This is an example of:

Accepted Answer

A)  nested demand 
B)  derived demand 
C)  reciprocity 
D)  elastic demand 
E)  circular buying 
A)  nested demand 
B)  derived demand 
C)  reciprocity 
D)  elastic demand 
E)  circular buying

Question 10

Name and briefly describe five of the major differences between business and consumer markets.

Accepted Answer

There were several points of differentia

Question 11

What is a buying center? What are some implications of buying centers to the marketing manager?

Accepted Answer

The buying center is NOT a place.A buyin

Question 12

Etruscan Railing Company makes railing that is used in sports arenas,nursing home corridors,
queue houses at amusement parks,and many other places that are not as obvious.Its railing is molded into bicycle racks.You may also see city governments using the railing to make walkways over ravines and creek banks safer for pedestrian traffic.Hospitals also use the railing in their physical therapy departments,to keep the lines straight in the hospital cafeteria,and to prevent patients from falling out of hospital beds.
-Refer to Etruscan Railing Company.When Etruscan sells railings to refurbish a private university's football stadium,it is selling to a(n):

Accepted Answer

A)  intermediary 
B)  institution 
C)  reseller 
D)  producer 
E)  consumer 
A)  intermediary 
B)  institution 
C)  reseller 
D)  producer 
E)  consumer

Question 13

Briefly describe the four major categories of customers in business marketing.Give examples of companies or organizations in each category.

Accepted Answer

PRODUCERS include individuals and organi

Question 14

The single largest business customer in the world is the U.S.retailer Walmart.

Accepted Answer

A) True 
 B)False

Question 15

Claas is Europe's largest manufacturer of combine harvesters.As farming becomes more professional and more intensive,farmers are buying more sophisticated machines,which Claas can supply.The expensive machines sold by Claas would be examples of:

Accepted Answer

A)  installations 
B)  component parts 
C)  accessory equipment 
D)  processed materials 
E)  minor equipment 
A)  installations 
B)  component parts 
C)  accessory equipment 
D)  processed materials 
E)  minor equipment

Question 16

Boise Cascade comprises two businesses.Boise Cascade Building Materials Distribution is one of the largest wholesale building materials distributors in the United States.The firm's 33 distribution facilities market a wide range of building products and services to retail lumber dealers,home improvement centers,and industrial accounts nationwide. Boise Cascade Wood Products manufactures plywood,lumber,particleboard,and engineered wood products (laminated veneer lumber,I-joists,and laminated beams)at 20 manufacturing facilities in the United States and Canada.The firm's wood products are used primarily in housing,industrial construction,and a variety of manufactured products.Our wood products are sold to retail lumber dealers,home centers specializing in the do-it-yourself market,and industrial customers.
-Refer to Boise Cascade.Boise Cascade's excellent supplier relationships allow the company to provide the best value on the top brands in the industry.Because Boise Cascade has confidence in its suppliers' reliability and integrity,a high degree of _____ exists between the firm and the suppliers.

Accepted Answer

A)  trust 
B)  tomo 
C)  amae 
D)  reciprocity 
E)  derived demand 
A)  trust 
B)  tomo 
C)  amae 
D)  reciprocity 
E)  derived demand

Question 17

Baseball Dirt
Dirt is not dirt when it comes to baseball fields.About two-thirds of the pro baseball fields got their dirt from a dirt farm in New Jersey called Partac Peat.The company markets a secret mix for the infield (resilient),the warning track (extra crunchy),and the pitcher's mounds (firm).Mounds come in red,brown,orange,and gray colors.Roger Bossard,the White Sox head groundskeeper,scouted nationwide for dirt before settling on the mix provided by Partac Peat.(He uses sand under the grassy areas of the playing field. )
-Refer to Baseball Dirt.Some of the dirt sold by Partac Peat is used to make clay tennis court surfaces.As the number of people playing tennis increases so does the demand for new clay courts and,therefore,the demand for Partac Peat.This occurs because the demand for Partac Peat is:

Accepted Answer

A)  inelastic 
B)  intangible 
C)  heterogeneous 
D)  derived 
E)  elastic 
A)  inelastic 
B)  intangible 
C)  heterogeneous 
D)  derived 
E)  elastic

Question 18

The reintroduction of an intermediary between producers and users is called:

Accepted Answer

A)  disintermediation 
B)  reinstatement 
C)  selective retention 
D)  reestablishment 
E)  reintermediation 
A)  disintermediation 
B)  reinstatement 
C)  selective retention 
D)  reestablishment 
E)  reintermediation

Question 19

Stickiness is a measure of a Web site's effectiveness.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following is becoming increasingly more important in business marketing strategies?

Accepted Answer

A)  Customer service 
B)  Price collusion 
C)  Ethnocentrism 
D)  The divider effect 
E)  Competitive advertising 
A)  Customer service 
B)  Price collusion 
C)  Ethnocentrism 
D)  The divider effect 
E)  Competitive advertising

The emergence of the Internet has made buying and selling in the business market a process that is only efficient for the largest producer to pursue.

Kaplan Construction needs a backhoe for a job,so Donna Kaplan decides to lease the equipment from Premier Leasing Services.In this case:

A decline in the availability of tungsten will slow production of light filaments,which will in turn reduce the demand for light bulbs.This is an example of fluctuating demand.

Which of the following statements about the government business market is CORRECT?

The government uses a system called NAICS to classify North American business establishments.NAICS stands for:

General Motors buys engines for use in its vehicles from BorgWarner,which in turn buys many of the vehicles it needs from GM.This is an example of:

Name and briefly describe five of the major differences between business and consumer markets.

What is a buying center? What are some implications of buying centers to the marketing manager?

Briefly describe the four major categories of customers in business marketing.Give examples of companies or organizations in each category.

The single largest business customer in the world is the U.S.retailer Walmart.

Claas is Europe's largest manufacturer of combine harvesters.As farming becomes more professional and more intensive,farmers are buying more sophisticated machines,which Claas can supply.The expensive machines sold by Claas would be examples of:

The reintroduction of an intermediary between producers and users is called:

Stickiness is a measure of a Web site's effectiveness.

Which of the following is becoming increasingly more important in business marketing strategies?

An Overview of Marketing

Strategic Planning for Competitive Advantage

Ethics and Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Segmenting and Targeting Markets

Decision Support Systems and Marketing Research

Product Decisions

Developing and Managing Products

Services and Nonprofit Organization Marketing

Marketing Channels

Supply Chain Management

Retailing

Promotional Planning for Competitive Advantage

Advertising and Public Relations

Sales Promotion and Personal Selling

Pricing Concepts

Setting the Right Price

Customer Relationship Management (CRM)

Social Media and Marketing

Filters

Exam 7: Business Marketing

The emergence of the Internet has made buying and selling in the business market a process that is only efficient for the largest producer to pursue.

Kaplan Construction needs a backhoe for a job,so Donna Kaplan decides to lease the equipment from Premier Leasing Services.In this case:

A decline in the availability of tungsten will slow production of light filaments,which will in turn reduce the demand for light bulbs.This is an example of fluctuating demand.

Which of the following statements about the government business market is CORRECT?

The government uses a system called NAICS to classify North American business establishments.NAICS stands for:

General Motors buys engines for use in its vehicles from BorgWarner,which in turn buys many of the vehicles it needs from GM.This is an example of:

Name and briefly describe five of the major differences between business and consumer markets.

What is a buying center? What are some implications of buying centers to the marketing manager?

Briefly describe the four major categories of customers in business marketing.Give examples of companies or organizations in each category.

The single largest business customer in the world is the U.S.retailer Walmart.

Claas is Europe's largest manufacturer of combine harvesters.As farming becomes more professional and more intensive,farmers are buying more sophisticated machines,which Claas can supply.The expensive machines sold by Claas would be examples of:

The reintroduction of an intermediary between producers and users is called:

Stickiness is a measure of a Web site's effectiveness.

Which of the following is becoming increasingly more important in business marketing strategies?

An Overview of Marketing

Strategic Planning for Competitive Advantage

Ethics and Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Segmenting and Targeting Markets

Decision Support Systems and Marketing Research

Product Decisions

Developing and Managing Products

Services and Nonprofit Organization Marketing

Marketing Channels

Supply Chain Management

Retailing

Promotional Planning for Competitive Advantage

Advertising and Public Relations

Sales Promotion and Personal Selling

Pricing Concepts

Setting the Right Price

Customer Relationship Management (CRM)

Social Media and Marketing

Filters