Question 1

Identify the largest single purchaser of products and services in the United States.

Accepted Answer

A)  Wal-Mart 
B)  Defense department 
C)  Government 
D)  Financial institutions 
E)  Steel industry 
A)  Wal-Mart 
B)  Defense department 
C)  Government 
D)  Financial institutions 
E)  Steel industry C

Question 2

When a company purchases a product or service to be included in its own final product,the company is called a(n)

Accepted Answer

A)  Reseller 
B)  User 
C)  Institution 
D)  Original equipment manufacturer 
E)  Industrial distributor 
A)  Reseller 
B)  User 
C)  Institution 
D)  Original equipment manufacturer 
E)  Industrial distributor D

Question 3

Which of the following statements about buyer-seller relationships in business marketing is TRUE?

Accepted Answer

A)  Strong personal and business relationships between buyer and seller are extremely rare 
B)  Close personal relationships exist between buyer and seller in all industries 
C)  Personal selling is never an important element of the marketing mix 
D)  Companies rarely enter into long-term contracts as the opportunity cost of mistakes is high 
E)  Many companies focus on building relationships that enable buyers and sellers to plan jointly 
A)  Strong personal and business relationships between buyer and seller are extremely rare 
B)  Close personal relationships exist between buyer and seller in all industries 
C)  Personal selling is never an important element of the marketing mix 
D)  Companies rarely enter into long-term contracts as the opportunity cost of mistakes is high 
E)  Many companies focus on building relationships that enable buyers and sellers to plan jointly E

Question 4

Value is equivalent to _____ for the buyer.

Accepted Answer

A)  Product 
B)  Price 
C)  Profit 
D)  Distribution 
E)  Cost 
A)  Product 
B)  Price 
C)  Profit 
D)  Distribution 
E)  Cost

Question 5

OEMs are BEST described as:

Accepted Answer

A)  End users 
B)  Companies that consume 
C)  Government agencies 
D)  Firms that resell a product without making any changes 
E)  Institutions 
A)  End users 
B)  Companies that consume 
C)  Government agencies 
D)  Firms that resell a product without making any changes 
E)  Institutions

Question 6

Which of following business customers provide services similar to those delivered by wholesalers and retailers of consumer goods?

Accepted Answer

A)  OEMs 
B)  Government agencies 
C)  Institutions 
D)  Private contractors 
E)  Industrial distributors 
A)  OEMs 
B)  Government agencies 
C)  Institutions 
D)  Private contractors 
E)  Industrial distributors

Question 7

Channels of distribution are shorter and more direct in business marketing than in consumer marketing.

Accepted Answer

A) True 
 B)False

Question 8

For the buyer,value is equivalent to profit.

Accepted Answer

A) True 
 B)False

Question 9

The size and location of customers influences the nature of business buying.

Accepted Answer

A) True 
 B)False

Question 10

What is an important difference between accessory and capital equipment when it comes to marketing the equipment to users?

Accepted Answer

A)  Accessory equipment is part of the organization's final product while capital equipment facilitates the organization's activities 
B)  Capital equipment is much more expensive and its purchase may involve more members of the organization than purchase of accessory equipment 
C)  Accessory equipment demand is derived from the demand for consumer products 
D)  Marketing requirements for accessory equipment are different as more members of the organization must be reached by marketing efforts 
E)  Capital equipment is ordered on a more regular basis than accessory equipment 
A)  Accessory equipment is part of the organization's final product while capital equipment facilitates the organization's activities 
B)  Capital equipment is much more expensive and its purchase may involve more members of the organization than purchase of accessory equipment 
C)  Accessory equipment demand is derived from the demand for consumer products 
D)  Marketing requirements for accessory equipment are different as more members of the organization must be reached by marketing efforts 
E)  Capital equipment is ordered on a more regular basis than accessory equipment

Question 11

Parts that may be assembled into a final product without further processing are BEST described as:

Accepted Answer

A)  Capital equipment 
B)  Manufactured materials 
C)  Raw materials 
D)  MROs 
E)  OEM parts 
A)  Capital equipment 
B)  Manufactured materials 
C)  Raw materials 
D)  MROs 
E)  OEM parts

Question 12

Which of the following is NOT a valid reason for studying business marketing?

Accepted Answer

A)  The magnitude of business marketing 
B)  Business marketing is unique 
C)  One type of marketing does not fit all situations 
D)  It is an exciting area of study 
E)  It is the same as consumer marketing 
A)  The magnitude of business marketing 
B)  Business marketing is unique 
C)  One type of marketing does not fit all situations 
D)  It is an exciting area of study 
E)  It is the same as consumer marketing

Question 13

Business marketers must recognize that the demand for their products and services is _____ demand,which means that demand for their products and services results from the demand for their customers' products and services.

Accepted Answer

A)  Derived 
B)  Concentrated 
C)  Limited 
D)  Direct 
E)  Conditional 
A)  Derived 
B)  Concentrated 
C)  Limited 
D)  Direct 
E)  Conditional

Question 14

Products purchased for use in the firm's operations are usually called:

Accepted Answer

A)  OEM parts 
B)  Capital goods 
C)  Accessory equipments 
D)  MRO items 
E)  Component parts 
A)  OEM parts 
B)  Capital goods 
C)  Accessory equipments 
D)  MRO items 
E)  Component parts

Question 15

Industrial products having no substitutes typically face:

Accepted Answer

A)  Inelastic demand 
B)  Volatile demand 
C)  Elastic demand 
D)  Stable demand 
E)  Unitary demand 
A)  Inelastic demand 
B)  Volatile demand 
C)  Elastic demand 
D)  Stable demand 
E)  Unitary demand

Question 16

Resellers include all of the following EXCEPT:

Accepted Answer

A)  Wholesalers 
B)  Dealers 
C)  Government agencies 
D)  Brokers 
E)  Industrial distributors 
A)  Wholesalers 
B)  Dealers 
C)  Government agencies 
D)  Brokers 
E)  Industrial distributors

Question 17

As one moves further away from the consumer market,derived demand can cause wide swings in demand,called

Accepted Answer

A)  Inelasticity 
B)  Volatility 
C)  Make-or-buy 
D)  Deficiency 
E)  Dissolution 
A)  Inelasticity 
B)  Volatility 
C)  Make-or-buy 
D)  Deficiency 
E)  Dissolution

Question 18

Compare and contrast accessory and capital equipment?

Accepted Answer

Hand tools,such as sanders,routers,porta

Question 19

Users are similar to final consumers in that:

Accepted Answer

A)  They purchase products to include in their own final product 
B)  Satisfaction is determined through consumption 
C)  They are primarily influenced by advertising 
D)  The impact upon profit is not important 
E)  They incorporate their purchases into their final product 
A)  They purchase products to include in their own final product 
B)  Satisfaction is determined through consumption 
C)  They are primarily influenced by advertising 
D)  The impact upon profit is not important 
E)  They incorporate their purchases into their final product

Question 20

Write a short note on integrative nature of business marketing?

Accepted Answer

A high degree of interaction and coopera

Identify the largest single purchaser of products and services in the United States.

When a company purchases a product or service to be included in its own final product,the company is called a(n)

Which of the following statements about buyer-seller relationships in business marketing is TRUE?

Value is equivalent to _____ for the buyer.

OEMs are BEST described as:

Which of following business customers provide services similar to those delivered by wholesalers and retailers of consumer goods?

Channels of distribution are shorter and more direct in business marketing than in consumer marketing.

For the buyer,value is equivalent to profit.

The size and location of customers influences the nature of business buying.

What is an important difference between accessory and capital equipment when it comes to marketing the equipment to users?

Parts that may be assembled into a final product without further processing are BEST described as:

Which of the following is NOT a valid reason for studying business marketing?

Business marketers must recognize that the demand for their products and services is _____ demand,which means that demand for their products and services results from the demand for their customers' products and services.

Products purchased for use in the firm's operations are usually called:

Industrial products having no substitutes typically face:

Resellers include all of the following EXCEPT:

As one moves further away from the consumer market,derived demand can cause wide swings in demand,called

Compare and contrast accessory and capital equipment?

Users are similar to final consumers in that:

Write a short note on integrative nature of business marketing?

The Character of Business Marketing

The Purchasing Function

Organizational Buyer Behavior

Market Opportunities: Current and Potential

Marketing Strategy

Weaving Marketing Into the Fabric of the Firm

Developing and Managing Offerings: What Do Customers

Business Marketing Channels: Partnerships for...

Creating Customer Dialogue

Communicating Via Advertising, trade Shows and PR

The One to One Media

Sales and Sales Management

Pricing and Negotiating for Value

Evaluating Marketing Efforts

Customer Retention and Maximization

Filters

Exam 1: Introduction to Business Marketing

Identify the largest single purchaser of products and services in the United States.

When a company purchases a product or service to be included in its own final product,the company is called a(n)

Which of the following statements about buyer-seller relationships in business marketing is TRUE?

Value is equivalent to _____ for the buyer.

OEMs are BEST described as:

Which of following business customers provide services similar to those delivered by wholesalers and retailers of consumer goods?

Channels of distribution are shorter and more direct in business marketing than in consumer marketing.

For the buyer,value is equivalent to profit.

The size and location of customers influences the nature of business buying.

What is an important difference between accessory and capital equipment when it comes to marketing the equipment to users?

Parts that may be assembled into a final product without further processing are BEST described as:

Which of the following is NOT a valid reason for studying business marketing?

Business marketers must recognize that the demand for their products and services is _____ demand,which means that demand for their products and services results from the demand for their customers' products and services.

Products purchased for use in the firm's operations are usually called:

Industrial products having no substitutes typically face:

Resellers include all of the following EXCEPT:

As one moves further away from the consumer market,derived demand can cause wide swings in demand,called

Compare and contrast accessory and capital equipment?

Users are similar to final consumers in that:

Write a short note on integrative nature of business marketing?

The Character of Business Marketing

The Purchasing Function

Organizational Buyer Behavior

Market Opportunities: Current and Potential

Marketing Strategy

Weaving Marketing Into the Fabric of the Firm

Developing and Managing Offerings: What Do Customers

Business Marketing Channels: Partnerships for...

Creating Customer Dialogue

Communicating Via Advertising, trade Shows and PR

The One to One Media

Sales and Sales Management

Pricing and Negotiating for Value

Evaluating Marketing Efforts

Customer Retention and Maximization

Filters