Question 1

A reverse auction refers to an online auction

Accepted Answer

A)  where firms may sell their overstock-unused raw materials, packaging, and tools-to the highest bidder. 
B)  in which a manufacturer offers to share its facilities, inventory, or services with other smaller firms that are invited to bid in competition with each other. 
C)  in which a smaller manufacturer seeks to share the facilities, inventory, or services of a larger firm, and invites those firms to bid in competition with each other. 
D)  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. 
E)  where firms seek to purchase other firms' overstock-unused raw materials, packaging, and tools-while trying to find the lowest price possible. 
A)  where firms may sell their overstock-unused raw materials, packaging, and tools-to the highest bidder. 
B)  in which a manufacturer offers to share its facilities, inventory, or services with other smaller firms that are invited to bid in competition with each other. 
C)  in which a smaller manufacturer seeks to share the facilities, inventory, or services of a larger firm, and invites those firms to bid in competition with each other. 
D)  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. 
E)  where firms seek to purchase other firms' overstock-unused raw materials, packaging, and tools-while trying to find the lowest price possible.

Question 2

The objective attributes of the supplier's products and services and the capabilities of the supplier itself are collectively referred to as

Accepted Answer

A)  the supplier consideration set. 
B)  derived demand factors. 
C)  evaluative criteria. 
D)  performance metrics. 
E)  organizational buying criteria. 
A)  the supplier consideration set. 
B)  derived demand factors. 
C)  evaluative criteria. 
D)  performance metrics. 
E)  organizational buying criteria.

Question 3

In a buying center,__________ have formal authority and responsibility to select the supplier and negotiate the terms of a contract.

Accepted Answer

A)  buyers 
B)  gatekeepers 
C)  adopters 
D)  influencers 
E)  users 
A)  buyers 
B)  gatekeepers 
C)  adopters 
D)  influencers 
E)  users

Question 4

The demand for industrial products and services that is driven by demand for consumer products and services is referred to as

Accepted Answer

A)  secondary marketing. 
B)  derived demand. 
C)  reciprocal supply. 
D)  demand elasticity. 
E)  sequential demand. 
A)  secondary marketing. 
B)  derived demand. 
C)  reciprocal supply. 
D)  demand elasticity. 
E)  sequential demand.

Question 5

Merrill Lynch and Thompson Financial had a three-year,$1 billion project that put workstations on the desks of 25,000 of Merrill Lynch's brokers.These machines put the world of investing information at brokers' fingertips.Thompson,the supplier,was obliged to not only deliver technology and services on time and on budget,but also constantly improve customer-satisfaction levels among Merrill's brokers and customers.This is an example of

Accepted Answer

A)  a reciprocity agreement. 
B)  exclusive dealing. 
C)  supplier alliance. 
D)  a buyer-seller relationship. 
E)  a tying arrangement. 
A)  a reciprocity agreement. 
B)  exclusive dealing. 
C)  supplier alliance. 
D)  a buyer-seller relationship. 
E)  a tying arrangement.

Question 6

What are the characteristics of organizational buying behavior?

Accepted Answer

Understanding the characteristics of org

Question 7

In organizations,the buying function involves gathering and screening information about products and services,prices,and suppliers,which are known as

Accepted Answer

A)  agents. 
B)  procurement sources. 
C)  shops. 
D)  vendors. 
E)  resellers. 
A)  agents. 
B)  procurement sources. 
C)  shops. 
D)  vendors. 
E)  resellers.

Question 8

Derived demand refers to

Accepted Answer

A)  a graph relating the quantity sold and price, which shows the maximum number of units that will be sold at a given price. 
B)  the demand for industrial products and services that is driven by the demand for consumer products and services. 
C)  the relationship between total revenue and total cost to determine profitability at various levels of output. 
D)  the point on a demand curve where supply and demand intersect. 
E)  the percentage change in quantity demanded relative to a percentage change in price. 
A)  a graph relating the quantity sold and price, which shows the maximum number of units that will be sold at a given price. 
B)  the demand for industrial products and services that is driven by the demand for consumer products and services. 
C)  the relationship between total revenue and total cost to determine profitability at various levels of output. 
D)  the point on a demand curve where supply and demand intersect. 
E)  the percentage change in quantity demanded relative to a percentage change in price.

Question 9

The practice of __________,which can affect the normal operation of the free market and limit the flexibility of buyers,is disapproved of by the U.S.Justice Department.

Accepted Answer

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

Question 10

All of the following people are part of the Trek buying center except which?

Accepted Answer

A)  Trek executives 
B)  production workers 
C)  representatives from research and development 
D)  quality control employees 
E)  a purchasing manager 
A)  Trek executives 
B)  production workers 
C)  representatives from research and development 
D)  quality control employees 
E)  a purchasing manager

Question 11

The purchasing manager of Ingram Printing has selected HP as the supplier of its new high-speed printer and negotiated the terms of the contract.The purchasing manager is the __________ for Ingram.

Accepted Answer

A)  user 
B)  gatekeeper 
C)  influencer 
D)  buyer 
E)  decider 
A)  user 
B)  gatekeeper 
C)  influencer 
D)  buyer 
E)  decider

Question 12

In terms of organizational markets,Amazon.com,Lands' End,and JCPenney would most likely be classified as

Accepted Answer

A)  government units. 
B)  resellers. 
C)  manufacturers. 
D)  wholesalers. 
E)  industrial firms. 
A)  government units. 
B)  resellers. 
C)  manufacturers. 
D)  wholesalers. 
E)  industrial firms.

Question 13

Many companies have broadened their buying objectives to include an emphasis on

Accepted Answer

A)  purchasing from as many vendors as possible to avoid component shortfalls. 
B)  purchasing from start-up firms to grow the economy. 
C)  diversifying their product lines and brand extensions to reduce the risk of failure for any one item. 
D)  pricing freezes to maintain consistent quantities demanded from consumers. 
E)  proactively purchasing from minority-owned suppliers and vendors. 
A)  purchasing from as many vendors as possible to avoid component shortfalls. 
B)  purchasing from start-up firms to grow the economy. 
C)  diversifying their product lines and brand extensions to reduce the risk of failure for any one item. 
D)  pricing freezes to maintain consistent quantities demanded from consumers. 
E)  proactively purchasing from minority-owned suppliers and vendors.

Question 14

Organizational buying behavior is similar to consumer behavior in some ways and different in others.One key difference is that in the organizational buying process,

Accepted Answer

A)  only four stages are used. 
B)  fewer individuals are involved. 
C)  firms are not affected by derived demand. 
D)  the post-purchase evaluation behavior is more formalized. 
E)  there is less reliance on gatekeepers to control product information. 
A)  only four stages are used. 
B)  fewer individuals are involved. 
C)  firms are not affected by derived demand. 
D)  the post-purchase evaluation behavior is more formalized. 
E)  there is less reliance on gatekeepers to control product information.

Question 15

1-800 Contacts is based in Draper,Utah,and sells contact lenses manufactured by other well-known companies,including Johnson & Johnson Vision Care,Ciba Vision,Bausch & Lomb,and CooperVision.It would most likely be classified as

Accepted Answer

A)  an industrial service provider. 
B)  a health care provider. 
C)  a reseller. 
D)  an industrial firm. 
E)  a government agency. 
A)  an industrial service provider. 
B)  a health care provider. 
C)  a reseller. 
D)  an industrial firm. 
E)  a government agency.

Question 16

To lower costs and reduce manufacturing time,Michelin has people work together on important purchases.These people include individuals in the roles of buyers,deciders,gatekeepers,and others,as needed.This type of cross-functional group is known as a

Accepted Answer

A)  purchasing committee. 
B)  sustainable procurement panel. 
C)  buying center. 
D)  supply partnership. 
E)  purchasing task force. 
A)  purchasing committee. 
B)  sustainable procurement panel. 
C)  buying center. 
D)  supply partnership. 
E)  purchasing task force.

Question 17

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

Accepted Answer

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

Question 18

A computer company salesperson invites the IT managers of its top 10 customers (in terms of dollar sales)to view a demonstration of the firm's new product line,so the salesperson can obtain their opinions regarding various options and configurations that could be offered.These IT managers are most likely to be the __________ of their organizations' buying centers.

Accepted Answer

A)  gatekeepers 
B)  influencers 
C)  reciprocity arrangers 
D)  buyers 
E)  users 
A)  gatekeepers 
B)  influencers 
C)  reciprocity arrangers 
D)  buyers 
E)  users

Question 19

If General Motors (GM)purchases Borg-Warner transmissions,and Borg-Warner buys trucks and cars from GM,they would be demonstrating which type of buyer-seller interaction?

Accepted Answer

A)  exclusive dealing 
B)  supply partnerships 
C)  tying arrangements 
D)  noncompetitive bidding 
E)  reciprocity 
A)  exclusive dealing 
B)  supply partnerships 
C)  tying arrangements 
D)  noncompetitive bidding 
E)  reciprocity

Question 20

Purchasing paper for JCPMedia is one example of

Accepted Answer

A)  organizational buying. 
B)  online buying. 
C)  on-time delivery. 
D)  derived demand. 
E)  cooperative selling. 
A)  organizational buying. 
B)  online buying. 
C)  on-time delivery. 
D)  derived demand. 
E)  cooperative selling.

A reverse auction refers to an online auction

The objective attributes of the supplier's products and services and the capabilities of the supplier itself are collectively referred to as

In a buying center,__________ have formal authority and responsibility to select the supplier and negotiate the terms of a contract.

The demand for industrial products and services that is driven by demand for consumer products and services is referred to as

What are the characteristics of organizational buying behavior?

In organizations,the buying function involves gathering and screening information about products and services,prices,and suppliers,which are known as

Derived demand refers to

The practice of __________,which can affect the normal operation of the free market and limit the flexibility of buyers,is disapproved of by the U.S.Justice Department.

All of the following people are part of the Trek buying center except which?

The purchasing manager of Ingram Printing has selected HP as the supplier of its new high-speed printer and negotiated the terms of the contract.The purchasing manager is the __________ for Ingram.

In terms of organizational markets,Amazon.com,Lands' End,and JCPenney would most likely be classified as

Many companies have broadened their buying objectives to include an emphasis on

Organizational buying behavior is similar to consumer behavior in some ways and different in others.One key difference is that in the organizational buying process,

1-800 Contacts is based in Draper,Utah,and sells contact lenses manufactured by other well-known companies,including Johnson & Johnson Vision Care,Ciba Vision,Bausch & Lomb,and CooperVision.It would most likely be classified as

To lower costs and reduce manufacturing time,Michelin has people work together on important purchases.These people include individuals in the roles of buyers,deciders,gatekeepers,and others,as needed.This type of cross-functional group is known as a

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

If General Motors (GM)purchases Borg-Warner transmissions,and Borg-Warner buys trucks and cars from GM,they would be demonstrating which type of buyer-seller interaction?

Purchasing paper for JCPMedia is one example of

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

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

Implementing Interactive and Multichannel Marketing

Building an Effective Marketing Plan

Filters

Exam 5: Understanding Organizations As Customers

A reverse auction refers to an online auction

The objective attributes of the supplier's products and services and the capabilities of the supplier itself are collectively referred to as

In a buying center,__________ have formal authority and responsibility to select the supplier and negotiate the terms of a contract.

The demand for industrial products and services that is driven by demand for consumer products and services is referred to as

What are the characteristics of organizational buying behavior?

In organizations,the buying function involves gathering and screening information about products and services,prices,and suppliers,which are known as

Derived demand refers to

The practice of __________,which can affect the normal operation of the free market and limit the flexibility of buyers,is disapproved of by the U.S.Justice Department.

All of the following people are part of the Trek buying center except which?

The purchasing manager of Ingram Printing has selected HP as the supplier of its new high-speed printer and negotiated the terms of the contract.The purchasing manager is the __________ for Ingram.

In terms of organizational markets,Amazon.com,Lands' End,and JCPenney would most likely be classified as

Many companies have broadened their buying objectives to include an emphasis on

Organizational buying behavior is similar to consumer behavior in some ways and different in others.One key difference is that in the organizational buying process,

1-800 Contacts is based in Draper,Utah,and sells contact lenses manufactured by other well-known companies,including Johnson & Johnson Vision Care,Ciba Vision,Bausch & Lomb,and CooperVision.It would most likely be classified as

To lower costs and reduce manufacturing time,Michelin has people work together on important purchases.These people include individuals in the roles of buyers,deciders,gatekeepers,and others,as needed.This type of cross-functional group is known as a

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

If General Motors (GM)purchases Borg-Warner transmissions,and Borg-Warner buys trucks and cars from GM,they would be demonstrating which type of buyer-seller interaction?

Purchasing paper for JCPMedia is one example of

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

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

Implementing Interactive and Multichannel Marketing

Building an Effective Marketing Plan

Filters