Question 1

In a buyer-seller relationship, reciprocity refers to

Accepted Answer

A) the practice whereby a seller requires the purchaser of one product to buy another item in the line. 
B) an industrial buying practice in which two organizations, in this case a manufacturer and a supplier, agree to purchase each other's products and services. 
C) an arrangement a manufacturer makes with a reseller to only handle its products and not those of competitors. 
D) the illegal practice of refusing to purchase a seller's products unless the seller agrees not to purchase that product or any similar products from any other buyer. 
E) when a supplier requires a buyer purchasing some of its products to also buy others. 
A) the practice whereby a seller requires the purchaser of one product to buy another item in the line. 
B) an industrial buying practice in which two organizations, in this case a manufacturer and a supplier, agree to purchase each other's products and services. 
C) an arrangement a manufacturer makes with a reseller to only handle its products and not those of competitors. 
D) the illegal practice of refusing to purchase a seller's products unless the seller agrees not to purchase that product or any similar products from any other buyer. 
E) when a supplier requires a buyer purchasing some of its products to also buy others.

Question 2

Organizational buying behavior refers to

Accepted Answer

A) the actions a person takes in purchasing and using products and services, including the mental and social processes that come before and after these actions. 
B) the decision-making process that organizations use to establish the need for products and services and identify, evaluate, and choose among alternative brands and suppliers. 
C) the determination of what to purchase and the quantity to purchase based upon derived demand. 
D) the determination of what to purchase and the quantity to purchase based upon the derived supply. 
E) the process that organizations use to purchase the raw materials and tools used in the manufacturing of a product. 
A) the actions a person takes in purchasing and using products and services, including the mental and social processes that come before and after these actions. 
B) the decision-making process that organizations use to establish the need for products and services and identify, evaluate, and choose among alternative brands and suppliers. 
C) the determination of what to purchase and the quantity to purchase based upon derived demand. 
D) the determination of what to purchase and the quantity to purchase based upon the derived supply. 
E) the process that organizations use to purchase the raw materials and tools used in the manufacturing of a product.

Question 3

What is an important limitation of NAICS codes that inhibit their usefulness?

Accepted Answer

The NAICS has an important limitation. F

Question 4

All of the following are roles in a buying center EXCEPT:

Accepted Answer

A) specifiers. 
B) deciders. 
C) buyers. 
D) influencers. 
E) users. 
A) specifiers. 
B) deciders. 
C) buyers. 
D) influencers. 
E) users.

Question 5

-In the breakdown for the NAICS code based on Figure 5-1 above, Column A represents the

Accepted Answer

A) two-digit industry sector code. 
B) three-digit industry subsector code. 
C) four-digit industry group code. 
D) five-digit industry code. 
E) six-digit U.S. national industry code 
A) two-digit industry sector code. 
B) three-digit industry subsector code. 
C) four-digit industry group code. 
D) five-digit industry code. 
E) six-digit U.S. national industry code

Question 6

At which stage of the organizational buying decision process would purchasing and engineering personnel visit potential suppliers to assess their quality control?

Accepted Answer

A) alternative evaluation 
B) problem recognition 
C) information search 
D) purchase decision 
E) postpurchase behavior 
A) alternative evaluation 
B) problem recognition 
C) information search 
D) purchase decision 
E) postpurchase behavior

Question 7

Concert Staging Company provides the stage, roof system, lighting and sound for outdoor concerts and theatrical events. The number of concert and theater events sponsored by various organizations determines how many times the company is hired to provide its services, which often depends on consumer willingness to buy event tickets. Demand for the services provided by Concert Staging Company is would be considered __________.

Accepted Answer

A) derived 
B) unitized 
C) industrial 
D) applied 
E) reseller 
A) derived 
B) unitized 
C) industrial 
D) applied 
E) reseller

Question 8

A buy class situation affects buying center tendencies in different ways. If there are many people involved, the problem definition is uncertain, and the buying objective is to find a good solution, the buy class situation is most likely a

Accepted Answer

A) modified buy. 
B) straight rebuy. 
C) conditional rebuy. 
D) new buy. 
E) standard buy. 
A) modified buy. 
B) straight rebuy. 
C) conditional rebuy. 
D) new buy. 
E) standard buy.

Question 9

For e-marketplaces, large companies tend to favor __________ that link them with their network of qualified suppliers and customers.

Accepted Answer

A) centralized markets 
B) decentralized markets 
C) private exchanges 
D) segregated markets 
E) independent trading communities 
A) centralized markets 
B) decentralized markets 
C) private exchanges 
D) segregated markets 
E) independent trading communities

Question 10

The reseller market includes

Accepted Answer

A) manufacturers. 
B) logistics and supply chain providers. 
C) government agencies. 
D) end-user service providers. 
E) retailers and wholesalers. 
A) manufacturers. 
B) logistics and supply chain providers. 
C) government agencies. 
D) end-user service providers. 
E) retailers and wholesalers.

Question 11

In a buying center, __________ affect the buying decision, usually by helping define the specifications for what is bought.

Accepted Answer

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

Question 12

A business market is also referred to as

Accepted Answer

A) a transactional market. 
B) a corporate market. 
C) a government market. 
D) a reseller market. 
E) an industrial market. 
A) a transactional market. 
B) a corporate market. 
C) a government market. 
D) a reseller market. 
E) an industrial market.

Question 13

Figure 5-5
-Figure 5-5 above summarizes how buy classes affect buying center tendencies in different ways. Identify the buy-class situations A, B, and
C.Column A is a new buy situation; B is a straight rebut situation; and C is a modified rebuy situation.

Accepted Answer

Column A is a new buy situatio

Question 14

-In Figure 5-6B above, as the number of sellers increases, the price

Accepted Answer

A) increases. 
B) stays the same. 
C) has no relation to the number of sellers. 
D) decreases. 
E) fluctuates depending on economic conditions. 
A) increases. 
B) stays the same. 
C) has no relation to the number of sellers. 
D) decreases. 
E) fluctuates depending on economic conditions.

Question 15

Online trading communities that bring together buyers and supplier organizations to make possible the real time exchange of information, money, products, and services are referred to as

Accepted Answer

A) webfronts. 
B) iCommerce. 
C) e-commerce marketspaces. 
D) e-marketplaces. 
E) X-changes. 
A) webfronts. 
B) iCommerce. 
C) e-commerce marketspaces. 
D) e-marketplaces. 
E) X-changes.

Question 16

Differentiate between traditional and reverse auctions.

Accepted Answer

In a traditional auction, there is one s

Question 17

There are seven commonly used organizational buying criteria. One of them is __________.

Accepted Answer

A) consumer demand 
B) longevity 
C) promotional incentives 
D) technical capability 
E) senior management directives 
A) consumer demand 
B) longevity 
C) promotional incentives 
D) technical capability 
E) senior management directives

Question 18

The system that provides common industry definitions for Canada, Mexico, and the United States, which makes it easier to measure economic activity in the three member countries of the North American Free Trade Agreement (NAFTA), is referred to as the

Accepted Answer

A) Standard Industrial Code System (SICS). 
B) United Nations Central Product Classification System (UNCPCS). 
C) National Codes of Industry System (NCIS). 
D) North American Industry Classification System (NAICS). 
E) Federal System of International Organizations (FSIO). 
A) Standard Industrial Code System (SICS). 
B) United Nations Central Product Classification System (UNCPCS). 
C) National Codes of Industry System (NCIS). 
D) North American Industry Classification System (NAICS). 
E) Federal System of International Organizations (FSIO).

Question 19

Organizational buyers include manufacturers, wholesalers, retailers, and government agencies that

Accepted Answer

A) purchase exclusively from one supplier. 
B) are exempt from state and local taxes. 
C) sell directly to ultimate consumers. 
D) sell goods and services for their own use. 
E) buy goods and services for their own use or for resalE.Organizational buyers are those manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale. 
A) purchase exclusively from one supplier. 
B) are exempt from state and local taxes. 
C) sell directly to ultimate consumers. 
D) sell goods and services for their own use. 
E) buy goods and services for their own use or for resalE.Organizational buyers are those manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale.

Question 20

A buy class situation affects buying center tendencies in different ways. If there are two or three people involved, the problem definition has only minor modifications, and the buying objective is the low-priced supplier, the buy class situation is most likely a

Accepted Answer

A) new buy. 
B) modified rebuy. 
C) conditional rebuy. 
D) straight rebuy. 
E) standard reorder. 
A) new buy. 
B) modified rebuy. 
C) conditional rebuy. 
D) straight rebuy. 
E) standard reorder.

In a buyer-seller relationship, reciprocity refers to

Organizational buying behavior refers to

What is an important limitation of NAICS codes that inhibit their usefulness?

All of the following are roles in a buying center EXCEPT:

-In the breakdown for the NAICS code based on Figure 5-1 above, Column A represents the

At which stage of the organizational buying decision process would purchasing and engineering personnel visit potential suppliers to assess their quality control?

A buy class situation affects buying center tendencies in different ways. If there are many people involved, the problem definition is uncertain, and the buying objective is to find a good solution, the buy class situation is most likely a

For e-marketplaces, large companies tend to favor __________ that link them with their network of qualified suppliers and customers.

The reseller market includes

In a buying center, __________ affect the buying decision, usually by helping define the specifications for what is bought.

A business market is also referred to as

Figure 5-5 -Figure 5-5 above summarizes how buy classes affect buying center tendencies in different ways. Identify the buy-class situations A, B, and C.Column A is a new buy situation; B is a straight rebut situation; and C is a modified rebuy situation.

-In Figure 5-6B above, as the number of sellers increases, the price

Online trading communities that bring together buyers and supplier organizations to make possible the real time exchange of information, money, products, and services are referred to as

Differentiate between traditional and reverse auctions.

There are seven commonly used organizational buying criteria. One of them is __________.

The system that provides common industry definitions for Canada, Mexico, and the United States, which makes it easier to measure economic activity in the three member countries of the North American Free Trade Agreement (NAFTA), is referred to as the

Organizational buyers include manufacturers, wholesalers, retailers, and government agencies that

A buy class situation affects buying center tendencies in different ways. If there are two or three people involved, the problem definition has only minor modifications, and the buying objective is the low-priced supplier, the buy class situation is most likely a

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 to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

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Exam 5: Understanding Organizations As Customers

In a buyer-seller relationship, reciprocity refers to

Organizational buying behavior refers to

What is an important limitation of NAICS codes that inhibit their usefulness?

All of the following are roles in a buying center EXCEPT:

-In the breakdown for the NAICS code based on Figure 5-1 above, Column A represents the

At which stage of the organizational buying decision process would purchasing and engineering personnel visit potential suppliers to assess their quality control?

A buy class situation affects buying center tendencies in different ways. If there are many people involved, the problem definition is uncertain, and the buying objective is to find a good solution, the buy class situation is most likely a

For e-marketplaces, large companies tend to favor __________ that link them with their network of qualified suppliers and customers.

The reseller market includes

In a buying center, __________ affect the buying decision, usually by helping define the specifications for what is bought.

A business market is also referred to as

Figure 5-5 -Figure 5-5 above summarizes how buy classes affect buying center tendencies in different ways. Identify the buy-class situations A, B, and C.Column A is a new buy situation; B is a straight rebut situation; and C is a modified rebuy situation.

-In Figure 5-6B above, as the number of sellers increases, the price

Online trading communities that bring together buyers and supplier organizations to make possible the real time exchange of information, money, products, and services are referred to as

Differentiate between traditional and reverse auctions.

There are seven commonly used organizational buying criteria. One of them is __________.

The system that provides common industry definitions for Canada, Mexico, and the United States, which makes it easier to measure economic activity in the three member countries of the North American Free Trade Agreement (NAFTA), is referred to as the

Organizational buyers include manufacturers, wholesalers, retailers, and government agencies that

A buy class situation affects buying center tendencies in different ways. If there are two or three people involved, the problem definition has only minor modifications, and the buying objective is the low-priced supplier, the buy class situation is most likely a

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 to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Filters