Question 1

The buying processes in both B2B and B2C markets begin with:

Accepted Answer

A)  central planning. 
B)  need recognition. 
C)  postpurchase dissonance. 
D)  alternative evaluation. 
E)  order specification. 
A)  central planning. 
B)  need recognition. 
C)  postpurchase dissonance. 
D)  alternative evaluation. 
E)  order specification.

Question 2

Which of the following statements is true of manufacturers?

Accepted Answer

A)  They are marketing intermediaries that resell a product without much significant alteration. 
B)  They are usually producers of their own good and services. 
C)  Wholesalers,retailers,and distributors are all classic examples of manufacturers. 
D)  In business-to-consumer markets,manufacturers buy finished goods for their own personal consumption. 
E)  Institutions such as hospitals,educational organizations,and nonprofit organizations are manufacturing houses that engage in large purchases of goods and services. 
A)  They are marketing intermediaries that resell a product without much significant alteration. 
B)  They are usually producers of their own good and services. 
C)  Wholesalers,retailers,and distributors are all classic examples of manufacturers. 
D)  In business-to-consumer markets,manufacturers buy finished goods for their own personal consumption. 
E)  Institutions such as hospitals,educational organizations,and nonprofit organizations are manufacturing houses that engage in large purchases of goods and services.

Question 3

Which of the following buying situations requires the buying centre to proceed through all the steps of a buying process and involve many people in the buying decision?

Accepted Answer

A)  A modified rebuy 
B)  A straight rebuy 
C)  A specific rebuy 
D)  A new buy 
E)  A discount buy 
A)  A modified rebuy 
B)  A straight rebuy 
C)  A specific rebuy 
D)  A new buy 
E)  A discount buy

Question 4

A gatekeeper is a buying centre participant who controls information or access to decision makers and influencers.

Accepted Answer

A) True 
 B)False

Question 5

A construction firm realizes that suppliers have increased the prices of steel after doing a market analysis for the prices quoted by various suppliers for the same type of steel.Also,the firm is not satisfied with the performance of the supplier and decides to replace it.In the context of the business-to-business (B2B)buying process,the firm is currently in the stage of:

Accepted Answer

A)  proposal analysis. 
B)  RFP process. 
C)  need recognition. 
D)  supplier selection. 
E)  product specification. 
A)  proposal analysis. 
B)  RFP process. 
C)  need recognition. 
D)  supplier selection. 
E)  product specification.

Question 6

A manufacturing firm that has developed a new product can use the NAICS codes to:

Accepted Answer

A)  identify the type of firms that constitute its target market. 
B)  establish the potential banking partners. 
C)  foster long-term relations with buyers. 
D)  create mergers and joint ventures. 
E)  test the quality of its new product. 
A)  identify the type of firms that constitute its target market. 
B)  establish the potential banking partners. 
C)  foster long-term relations with buyers. 
D)  create mergers and joint ventures. 
E)  test the quality of its new product.

Question 7

In B2B transactions,hospitals,schools,and religious organizations are usually examples of:

Accepted Answer

A)  manufacturers. 
B)  users. 
C)  institutions. 
D)  gatekeepers. 
E)  resellers. 
A)  manufacturers. 
B)  users. 
C)  institutions. 
D)  gatekeepers. 
E)  resellers.

Question 8

Observing the after-effects of Hurricane Katrina,many states re-evaluated the requirements for construction materials used in coastal area building projects.Which of the following should vendors pay attention to regarding construction material requirements?

Accepted Answer

A)  Derived demand 
B)  Reciprocal buying 
C)  Autocratic buying 
D)  Product specifications 
E)  Straight rebuys 
A)  Derived demand 
B)  Reciprocal buying 
C)  Autocratic buying 
D)  Product specifications 
E)  Straight rebuys

Question 9

The decision-making process by the expert committee is indicative of a(n):

Accepted Answer

A)  autocratic buying centre. 
B)  democratic buying centre. 
C)  consultative buying centre. 
D)  consensus buying centre. 
E)  modified buying centre. 
A)  autocratic buying centre. 
B)  democratic buying centre. 
C)  consultative buying centre. 
D)  consensus buying centre. 
E)  modified buying centre.

Question 10

Which of the following buying situations requires the buying organization to change its current practices and involves a lot of people in the decision making?

Accepted Answer

A)  A new buy 
B)  A supplier buy 
C)  A modified rebuy 
D)  A straight rebuy 
E)  A discount buy 
A)  A new buy 
B)  A supplier buy 
C)  A modified rebuy 
D)  A straight rebuy 
E)  A discount buy

Question 11

Which of the following firms is an example of a consensus buying centre?

Accepted Answer

A)  A manufacturing firm in which the head of the finance team decides on the value of the bid after a detailed discussion with top management 
B)  A construction firm that will finalize a particular plan only if it is approved by most of the qualified engineers who are part of the designing team 
C)  A mining firm in which the head of the buying centre decides to buy equipment from a particular supplier,as most of the participants are satisfied with the proposal of this supplier 
D)  A car company that decides on a particular tire supplier after receiving the approval of all the experts who were part of the decision-making committee 
E)  A consulting firm in which the head of the recruitment team makes the final decision on recruiting a candidate,irrespective of the decision made by other interviewers 
A)  A manufacturing firm in which the head of the finance team decides on the value of the bid after a detailed discussion with top management 
B)  A construction firm that will finalize a particular plan only if it is approved by most of the qualified engineers who are part of the designing team 
C)  A mining firm in which the head of the buying centre decides to buy equipment from a particular supplier,as most of the participants are satisfied with the proposal of this supplier 
D)  A car company that decides on a particular tire supplier after receiving the approval of all the experts who were part of the decision-making committee 
E)  A consulting firm in which the head of the recruitment team makes the final decision on recruiting a candidate,irrespective of the decision made by other interviewers

Question 12

In business-to-business markets,buyers are heavily influenced by price,personal tastes,brand reputation,or personal recommendations of friends and family.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following statements describes a market characteristic of B2B buying?

Accepted Answer

A)  Demand for goods is elastic and is affected by the price changes in the short run. 
B)  The number of business buyers is higher than the number of buyers in B2C markets. 
C)  Consumers buy goods to satisfy their own individual or household needs. 
D)  Buyers are heavily influenced by personal tastes and brand reputation. 
E)  The size of the orders is substantially larger than consumer purchases. 
A)  Demand for goods is elastic and is affected by the price changes in the short run. 
B)  The number of business buyers is higher than the number of buyers in B2C markets. 
C)  Consumers buy goods to satisfy their own individual or household needs. 
D)  Buyers are heavily influenced by personal tastes and brand reputation. 
E)  The size of the orders is substantially larger than consumer purchases.

Question 14

What is a buying centre?

Accepted Answer

The group of people

Question 15

Which of the following statements is true about the nature of the buying process in B2B markets?

Accepted Answer

A)  There are no reciprocal arrangements between the buyers and sellers. 
B)  The buying process seldom involves qualified professionals. 
C)  For purchases of highly technical or complex products involving thousands or millions of dollars,the buying effort is much more flexible with minimal rules. 
D)  The buying efforts in these markets are less structured and formalized. 
E)  The buying process in these markets involves competitive bidding,negotiated pricing,and complex financial arrangements. 
A)  There are no reciprocal arrangements between the buyers and sellers. 
B)  The buying process seldom involves qualified professionals. 
C)  For purchases of highly technical or complex products involving thousands or millions of dollars,the buying effort is much more flexible with minimal rules. 
D)  The buying efforts in these markets are less structured and formalized. 
E)  The buying process in these markets involves competitive bidding,negotiated pricing,and complex financial arrangements.

Question 16

In a consultative buying centre,there are multiple participants:

Accepted Answer

A)  but one person makes the decision alone without taking inputs from others. 
B)  and all the participants must reach a collective agreement in making the final decision. 
C)  but the majority rules in making the final decision. 
D)  but one person makes the decision after receiving valuable input from others. 
E)  and one person influences the views of other participants in making the final decision. 
A)  but one person makes the decision alone without taking inputs from others. 
B)  and all the participants must reach a collective agreement in making the final decision. 
C)  but the majority rules in making the final decision. 
D)  but one person makes the decision after receiving valuable input from others. 
E)  and one person influences the views of other participants in making the final decision.

Question 17

Verdun Windows is the Canadian supplier of high-quality,energy-efficient windows for homes and offices.The housing boom in Canada in the late 1990s through the early 2000s resulted in a 500 percent increase in the amount of windows Verdun sold when compared to the period from 1990 to 1993,when the housing market was sluggish.This is an example of:

Accepted Answer

A)  derived demand. 
B)  competitive demand. 
C)  latent demand. 
D)  composite demand. 
E)  negative demand. 
A)  derived demand. 
B)  competitive demand. 
C)  latent demand. 
D)  composite demand. 
E)  negative demand.

Question 18

Which of the following is true of retailers?

Accepted Answer

A)  They buy raw materials,components,and parts that allow them to manufacture their own goods. 
B)  They are a form of resellers. 
C)  They resell manufactured products by significantly altering their form. 
D)  They are one of the largest purchasers of goods and services in most countries. 
E)  They are the prime producers of household products. 
A)  They buy raw materials,components,and parts that allow them to manufacture their own goods. 
B)  They are a form of resellers. 
C)  They resell manufactured products by significantly altering their form. 
D)  They are one of the largest purchasers of goods and services in most countries. 
E)  They are the prime producers of household products.

Question 19

Which of the following phrases defines the role of a buyer in a buying centre?

Accepted Answer

A)  A person who utilizes the product or service purchased by the buying centre 
B)  A person who controls information or access to decision makers and influencers 
C)  A person who handles the paperwork of the actual purchase 
D)  A person who suggests buying a particular product 
E)  A person who ultimately determines what product to buy 
A)  A person who utilizes the product or service purchased by the buying centre 
B)  A person who controls information or access to decision makers and influencers 
C)  A person who handles the paperwork of the actual purchase 
D)  A person who suggests buying a particular product 
E)  A person who ultimately determines what product to buy

Question 20

Which of the following best defines a buying centre in which the majority rules while making decisions?

Accepted Answer

A)  Autocratic 
B)  Consensus 
C)  Modified 
D)  Consultative 
E)  Democratic 
A)  Autocratic 
B)  Consensus 
C)  Modified 
D)  Consultative 
E)  Democratic

The buying processes in both B2B and B2C markets begin with:

Which of the following statements is true of manufacturers?

Which of the following buying situations requires the buying centre to proceed through all the steps of a buying process and involve many people in the buying decision?

A gatekeeper is a buying centre participant who controls information or access to decision makers and influencers.

A manufacturing firm that has developed a new product can use the NAICS codes to:

In B2B transactions,hospitals,schools,and religious organizations are usually examples of:

Observing the after-effects of Hurricane Katrina,many states re-evaluated the requirements for construction materials used in coastal area building projects.Which of the following should vendors pay attention to regarding construction material requirements?

The decision-making process by the expert committee is indicative of a(n):

Which of the following buying situations requires the buying organization to change its current practices and involves a lot of people in the decision making?

Which of the following firms is an example of a consensus buying centre?

In business-to-business markets,buyers are heavily influenced by price,personal tastes,brand reputation,or personal recommendations of friends and family.

Which of the following statements describes a market characteristic of B2B buying?

What is a buying centre?

Which of the following statements is true about the nature of the buying process in B2B markets?

In a consultative buying centre,there are multiple participants:

Which of the following is true of retailers?

Which of the following phrases defines the role of a buyer in a buying centre?

Which of the following best defines a buying centre in which the majority rules while making decisions?

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Marketing Ethics

Analyzing the Market Environment

Business-To-Business Marketing

Global Marketing

Segmentation, Targeting, and Positioning

Marketing Research

Product, Branding, and Packaging Decisions

Developing New Products

Services: The Intangible Product

Pricing Concepts for Establishing Value

Strategic Pricing Methods

Supply Chain and Channel Management

Retailing and Multichannel Marketing

Integrated Marketing Communications

Advertising, Public Relations, and Sales Promotions

Filters

Exam 5: Consumer Behavior

The buying processes in both B2B and B2C markets begin with:

Which of the following statements is true of manufacturers?

Which of the following buying situations requires the buying centre to proceed through all the steps of a buying process and involve many people in the buying decision?

A gatekeeper is a buying centre participant who controls information or access to decision makers and influencers.

A manufacturing firm that has developed a new product can use the NAICS codes to:

In B2B transactions,hospitals,schools,and religious organizations are usually examples of:

Observing the after-effects of Hurricane Katrina,many states re-evaluated the requirements for construction materials used in coastal area building projects.Which of the following should vendors pay attention to regarding construction material requirements?

The decision-making process by the expert committee is indicative of a(n):

Which of the following buying situations requires the buying organization to change its current practices and involves a lot of people in the decision making?

Which of the following firms is an example of a consensus buying centre?

In business-to-business markets,buyers are heavily influenced by price,personal tastes,brand reputation,or personal recommendations of friends and family.

Which of the following statements describes a market characteristic of B2B buying?

What is a buying centre?

Which of the following statements is true about the nature of the buying process in B2B markets?

In a consultative buying centre,there are multiple participants:

Which of the following is true of retailers?

Which of the following phrases defines the role of a buyer in a buying centre?

Which of the following best defines a buying centre in which the majority rules while making decisions?

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Marketing Ethics

Analyzing the Market Environment

Business-To-Business Marketing

Global Marketing

Segmentation, Targeting, and Positioning

Marketing Research

Product, Branding, and Packaging Decisions

Developing New Products

Services: The Intangible Product

Pricing Concepts for Establishing Value

Strategic Pricing Methods

Supply Chain and Channel Management

Retailing and Multichannel Marketing

Integrated Marketing Communications

Advertising, Public Relations, and Sales Promotions

Filters