Question 1

Compared to the typical household buying,the organizational purchasing process:

Accepted Answer

A)  Involves lesser number of people 
B)  Rarely involves checks and controls 
C)  Arises from implicit negotiation, expertise and habit 
D)  Is more complex 
E)  Uses crude cost accounting systems and cash flow management 
A)  Involves lesser number of people 
B)  Rarely involves checks and controls 
C)  Arises from implicit negotiation, expertise and habit 
D)  Is more complex 
E)  Uses crude cost accounting systems and cash flow management

Question 2

Being market driven implies that customer satisfaction and operational efficiency are the order of the day for every department and individual employee.

Accepted Answer

A) True 
 B)False

Question 3

The likelihood of negotiation decreases when large orders are sold directly by the manufacturer to the OEM buyer because changes can be made to the product and price.

Accepted Answer

A) True 
 B)False

Question 4

All the following are ways in which business marketing differs from consumer marketing EXCEPT:

Accepted Answer

A)  Its distribution channels are shorter and more direct 
B)  It emphasizes personal selling and negotiation 
C)  The Web is not integrated 
D)  It employs "unique" promotional strategies 
E)  It requires knowledge of the customer's customer 
A)  Its distribution channels are shorter and more direct 
B)  It emphasizes personal selling and negotiation 
C)  The Web is not integrated 
D)  It employs "unique" promotional strategies 
E)  It requires knowledge of the customer's customer

Question 5

An original equipment manufacturer purchases products or services for its own final product.

Accepted Answer

A) True 
 B)False

Question 6

In business marketing,large customer size and use of direct channels increase the importance of:

Accepted Answer

A)  Advertising 
B)  Distribution 
C)  Negotiation 
D)  Packaging 
E)  Production 
A)  Advertising 
B)  Distribution 
C)  Negotiation 
D)  Packaging 
E)  Production

Question 7

Compared to individual consumers,business customers:

Accepted Answer

A)  Have less stringent standards for judging a vendor 
B)  Are more in number 
C)  Are more likely to be geographically concentrated 
D)  Have lower purchasing power 
E)  Are less important to the financial success of the business marketer 
A)  Have less stringent standards for judging a vendor 
B)  Are more in number 
C)  Are more likely to be geographically concentrated 
D)  Have lower purchasing power 
E)  Are less important to the financial success of the business marketer

Question 8

Facilitating supplies:

Accepted Answer

A)  Are also called OEM products 
B)  Refer to products sold to users for use in the company's final product 
C)  Are materials processed only to the point required for economic handling and distribution 
D)  Are parts assembled into the final product without further transformation 
E)  Support company efforts but are not part of the final product 
A)  Are also called OEM products 
B)  Refer to products sold to users for use in the company's final product 
C)  Are materials processed only to the point required for economic handling and distribution 
D)  Are parts assembled into the final product without further transformation 
E)  Support company efforts but are not part of the final product

Question 9

Write a short note on how business marketing differs from consumer marketing?

Accepted Answer

Business marketing differs in that chann

Question 10

Marketing is a process by which the marketer creates:

Accepted Answer

A)  Derived demand 
B)  Vision 
C)  Value 
D)  Volatility 
E)  Service 
A)  Derived demand 
B)  Vision 
C)  Value 
D)  Volatility 
E)  Service

Question 11

Computers used to facilitate the company's achievement of its objectives,but not part of the final product would be BEST described as:

Accepted Answer

A)  OEM parts 
B)  Component parts 
C)  Accessory equipment 
D)  Raw materials 
E)  Subassembly 
A)  OEM parts 
B)  Component parts 
C)  Accessory equipment 
D)  Raw materials 
E)  Subassembly

Question 12

Business marketing is marketing products or services to companies,institutions and other organizations EXCEPT government bodies.

Accepted Answer

A) True 
 B)False

Question 13

A key raw material for technology-driven companies is:

Accepted Answer

A)  MRO item 
B)  Personnel 
C)  Steel 
D)  Accessory equipment 
E)  Location 
A)  MRO item 
B)  Personnel 
C)  Steel 
D)  Accessory equipment 
E)  Location

Question 14

Raw materials

Accepted Answer

A)  Are sold to OEMs for use in the products they manufacture 
B)  Are parts assembled into the final product without further transformation 
C)  Facilitate a firm's achievement of its objectives, but are not part of the final product 
D)  Are also called installations 
E)  Are products sold to users for use in the company's operations 
A)  Are sold to OEMs for use in the products they manufacture 
B)  Are parts assembled into the final product without further transformation 
C)  Facilitate a firm's achievement of its objectives, but are not part of the final product 
D)  Are also called installations 
E)  Are products sold to users for use in the company's operations

Question 15

The demand is usually inelastic for a product with substitutes.

Accepted Answer

A) True 
 B)False

Question 16

Generally,business products are classified according to the type of organization that is buying and the purpose of purchase.

Accepted Answer

A) True 
 B)False

Question 17

Ultimately,most demand is derived from government purchases such as arms sales.

Accepted Answer

A) True 
 B)False

Question 18

The percentage change in sales relative to the percentage change in price is:

Accepted Answer

A)  Volatile demand 
B)  Market demand 
C)  Final demand 
D)  Demand elasticity 
E)  Price elasticity 
A)  Volatile demand 
B)  Market demand 
C)  Final demand 
D)  Demand elasticity 
E)  Price elasticity

Question 19

Sometimes,a company purchases OEM parts and assembles these to make a component for installation into the final product by another company.The component may then be called a(n)

Accepted Answer

A)  Facilitating product 
B)  Manufactured material 
C)  Installation 
D)  Subassembly 
E)  MRO item 
A)  Facilitating product 
B)  Manufactured material 
C)  Installation 
D)  Subassembly 
E)  MRO item

Question 20

In terms of personal selling,which of the following statements is TRUE?

Accepted Answer

A)  A business cannot be successful through personally getting to know each individual and coordinating the sales-purchase process 
B)  Complex buying procedures involving many members of the buying organization require personal selling 
C)  Multiple personal relationships can strengthen organizational relationships and these relationships are the responsibility of the manager 
D)  A customer's size and a direct channel do not affect the importance of negotiation 
E)  Large orders sold directly by the manufacturer to the user increase the likelihood of negotiation because changes can be made in place and promotion 
A)  A business cannot be successful through personally getting to know each individual and coordinating the sales-purchase process 
B)  Complex buying procedures involving many members of the buying organization require personal selling 
C)  Multiple personal relationships can strengthen organizational relationships and these relationships are the responsibility of the manager 
D)  A customer's size and a direct channel do not affect the importance of negotiation 
E)  Large orders sold directly by the manufacturer to the user increase the likelihood of negotiation because changes can be made in place and promotion

Compared to the typical household buying,the organizational purchasing process:

Being market driven implies that customer satisfaction and operational efficiency are the order of the day for every department and individual employee.

The likelihood of negotiation decreases when large orders are sold directly by the manufacturer to the OEM buyer because changes can be made to the product and price.

All the following are ways in which business marketing differs from consumer marketing EXCEPT:

An original equipment manufacturer purchases products or services for its own final product.

In business marketing,large customer size and use of direct channels increase the importance of:

Compared to individual consumers,business customers:

Facilitating supplies:

Write a short note on how business marketing differs from consumer marketing?

Marketing is a process by which the marketer creates:

Computers used to facilitate the company's achievement of its objectives,but not part of the final product would be BEST described as:

Business marketing is marketing products or services to companies,institutions and other organizations EXCEPT government bodies.

A key raw material for technology-driven companies is:

Raw materials

The demand is usually inelastic for a product with substitutes.

Generally,business products are classified according to the type of organization that is buying and the purpose of purchase.

Ultimately,most demand is derived from government purchases such as arms sales.

The percentage change in sales relative to the percentage change in price is:

Sometimes,a company purchases OEM parts and assembles these to make a component for installation into the final product by another company.The component may then be called a(n)

In terms of personal selling,which of the following statements is TRUE?

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

Compared to the typical household buying,the organizational purchasing process:

Being market driven implies that customer satisfaction and operational efficiency are the order of the day for every department and individual employee.

The likelihood of negotiation decreases when large orders are sold directly by the manufacturer to the OEM buyer because changes can be made to the product and price.

All the following are ways in which business marketing differs from consumer marketing EXCEPT:

An original equipment manufacturer purchases products or services for its own final product.

In business marketing,large customer size and use of direct channels increase the importance of:

Compared to individual consumers,business customers:

Facilitating supplies:

Write a short note on how business marketing differs from consumer marketing?

Marketing is a process by which the marketer creates:

Computers used to facilitate the company's achievement of its objectives,but not part of the final product would be BEST described as:

Business marketing is marketing products or services to companies,institutions and other organizations EXCEPT government bodies.

A key raw material for technology-driven companies is:

Raw materials

The demand is usually inelastic for a product with substitutes.

Generally,business products are classified according to the type of organization that is buying and the purpose of purchase.

Ultimately,most demand is derived from government purchases such as arms sales.

The percentage change in sales relative to the percentage change in price is:

Sometimes,a company purchases OEM parts and assembles these to make a component for installation into the final product by another company.The component may then be called a(n)

In terms of personal selling,which of the following statements is TRUE?

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