Question 1

When a seller puts an item up for sale and would-be buyers are invited to bid in competition with each other, it is referred to as a(n) __________.

Accepted Answer

A) reverse auction 
B) traditional auction 
C) bidder's war 
D) e-auction 
E) Webfront auction 
A) reverse auction 
B) traditional auction 
C) bidder's war 
D) e-auction 
E) Webfront auction

Question 2

Within the buying center, deciders are people who

Accepted Answer

A) have the formal authority and responsibility to select the supplier and negotiate the terms of the contract. 
B) control the flow of information in the buying center. 
C) have the formal or informal power to select or approve the supplier that receives the contract. 
D) affect the buying decision usually by helping define the specifications for what is bought. 
E) actually use and evaluate the product or service 
A) have the formal authority and responsibility to select the supplier and negotiate the terms of the contract. 
B) control the flow of information in the buying center. 
C) have the formal or informal power to select or approve the supplier that receives the contract. 
D) affect the buying decision usually by helping define the specifications for what is bought. 
E) actually use and evaluate the product or service

Question 3

-Based on Figure 5-1 above, what is the NAICS code for cable and other subscription programming?

Accepted Answer

A) 511 
B) 5152 
C) 51512 
D) 51520 
E) 511515 
A) 511 
B) 5152 
C) 51512 
D) 51520 
E) 511515

Question 4

-In the breakdown for the NAICS code based on Figure 5-1 above, D 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 5

What are the characteristics of organizational buying behavior?

Accepted Answer

Understanding the characteristics of org

Question 6

A reorder of an existing product or service from a list of acceptable suppliers is referred to as a

Accepted Answer

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

Question 7

The primary reason companies have placed an emphasis on buying from minority- and women-owned suppliers and vendors is because

Accepted Answer

A) new federal government regulations require it. 
B) they can help a firm meet or exceed its objectives in sales, profits, or customer satisfaction. 
C) it is the socially responsible thing to do. 
D) it can attract new target markets. 
E) these companies will work harder for less money. 
A) new federal government regulations require it. 
B) they can help a firm meet or exceed its objectives in sales, profits, or customer satisfaction. 
C) it is the socially responsible thing to do. 
D) it can attract new target markets. 
E) these companies will work harder for less money.

Question 8

People who control the flow of information in the buying center, such as technical experts and secretaries, can keep salespeople and information from reaching others in the buying center and are referred to as __________.

Accepted Answer

A) deciders 
B) obstructionists 
C) gatekeepers 
D) power-brokers 
E) influencers 
A) deciders 
B) obstructionists 
C) gatekeepers 
D) power-brokers 
E) influencers

Question 9

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

Accepted Answer

A) adherence to governmental policies 
B) regulatory support 
C) past performance on previous contracts 
D) consumer demand 
E) senior management directives 
A) adherence to governmental policies 
B) regulatory support 
C) past performance on previous contracts 
D) consumer demand 
E) senior management directives

Question 10

A university's marketing department typically purchases backpacks with its logo embroidered on them for all incoming freshmen. This year, because they've heard complaints, the marketing chair wants to buy similar backpacks but find one that is a little more durable. This is an example of a

Accepted Answer

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

Question 11

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 12

As in the consumer decision process, evaluation occurs in the organizational buying decision process, but it is more formalized and often more sophisticated. All items purchased are examined in a formal product acceptance process. The performance of the vendor is also monitored and recorded. This evaluation occurs during the __________ stage.

Accepted Answer

A) problem recognition 
B) supplier audit 
C) purchase decision 
D) postpurchase behavior 
E) performance review 
A) problem recognition 
B) supplier audit 
C) purchase decision 
D) postpurchase behavior 
E) performance review

Question 13

A computer company salesperson invites the IT managers of its top ten 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 14

A buy class situation affects buying center tendencies in different ways. If there are many people involved, the problem definition is uncertain, and the time required for a decision is long, the buy class situation is most likely a

Accepted Answer

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

Question 15

The department secretary orders pens, copy paper, and printer ink cartridges for the department from the Corporate Express catalog nearly every month. This is an example of a

Accepted Answer

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

Question 16

Within the buying center, influencers are people who

Accepted Answer

A) have the formal authority and responsibility to select the supplier and negotiate the terms of the contract. 
B) control the flow of information in the buying center. 
C) affect the buying decision usually by helping define the specifications for what is bought. 
D) have the formal or informal power to select or approve the supplier that receives the contract. 
E) actually use and evaluate the product or service 
A) have the formal authority and responsibility to select the supplier and negotiate the terms of the contract. 
B) control the flow of information in the buying center. 
C) affect the buying decision usually by helping define the specifications for what is bought. 
D) have the formal or informal power to select or approve the supplier that receives the contract. 
E) actually use and evaluate the product or service

Question 17

-Which type of auction does Figure 5-6A above represent?

Accepted Answer

A) reverse auction 
B) horizontal auction 
C) vertical auction 
D) diagonal auction 
E) traditional auction 
A) reverse auction 
B) horizontal auction 
C) vertical auction 
D) diagonal auction 
E) traditional auction

Question 18

At which stage of the organizational buying decision process would purchasing assess the financial status of potential suppliers?

Accepted Answer

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

Question 19

E-Marketplaces refer to

Accepted Answer

A) virtual or holographic purchasing marketspaces that allow manufacturers to estimate demand based upon different changes in environmental forces. 
B) websites that allow consumers to make direct purchases from a manufacturer rather than through a traditional retail outlet. 
C) online trading communities that bring together buyers and supplier organizations to make possible the real time exchange of information, money, products, and services. 
D) computer simulations that allow manufacturers to estimate how much inventory to keep on hand based upon different purchasing scenarios. 
E) a computer database co-sponsored by the U.S. Department of Commerce and the World Trade Organization (WTO) that houses all public access records for the purpose of aiding American and global businesses. 
A) virtual or holographic purchasing marketspaces that allow manufacturers to estimate demand based upon different changes in environmental forces. 
B) websites that allow consumers to make direct purchases from a manufacturer rather than through a traditional retail outlet. 
C) online trading communities that bring together buyers and supplier organizations to make possible the real time exchange of information, money, products, and services. 
D) computer simulations that allow manufacturers to estimate how much inventory to keep on hand based upon different purchasing scenarios. 
E) a computer database co-sponsored by the U.S. Department of Commerce and the World Trade Organization (WTO) that houses all public access records for the purpose of aiding American and global businesses.

Question 20

Which of the following statements about the North American Industry Classification System (NAICS) is most accurate?

Accepted Answer

A) After being used for more than 50 years, the NAICS was replaced by the Standard Industrial Classification (SI
C)  system. 
B) The NAICS permits comparability across countries but does not accurately measure new or emerging industries. 
C) One drawback to the NAICS is that its industry classifications are inconsistent with the International Standards Organization (ISO). 
D) The NAICS groups economic activity to permit studies of market share, demand for goods and services, import competition in domestic markets, and similar studies. 
E) The NAICS is a five-digit code that allows comparison of industries even when information is limited. 
A) After being used for more than 50 years, the NAICS was replaced by the Standard Industrial Classification (SI
C)  system. 
B) The NAICS permits comparability across countries but does not accurately measure new or emerging industries. 
C) One drawback to the NAICS is that its industry classifications are inconsistent with the International Standards Organization (ISO). 
D) The NAICS groups economic activity to permit studies of market share, demand for goods and services, import competition in domestic markets, and similar studies. 
E) The NAICS is a five-digit code that allows comparison of industries even when information is limited.

When a seller puts an item up for sale and would-be buyers are invited to bid in competition with each other, it is referred to as a(n) __________.

Within the buying center, deciders are people who

-Based on Figure 5-1 above, what is the NAICS code for cable and other subscription programming?

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

What are the characteristics of organizational buying behavior?

A reorder of an existing product or service from a list of acceptable suppliers is referred to as a

The primary reason companies have placed an emphasis on buying from minority- and women-owned suppliers and vendors is because

People who control the flow of information in the buying center, such as technical experts and secretaries, can keep salespeople and information from reaching others in the buying center and are referred to as __________.

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

A university's marketing department typically purchases backpacks with its logo embroidered on them for all incoming freshmen. This year, because they've heard complaints, the marketing chair wants to buy similar backpacks but find one that is a little more durable. This is an example of a

A reverse auction refers to an online auction

A buy class situation affects buying center tendencies in different ways. If there are many people involved, the problem definition is uncertain, and the time required for a decision is long, the buy class situation is most likely a

The department secretary orders pens, copy paper, and printer ink cartridges for the department from the Corporate Express catalog nearly every month. This is an example of a

Within the buying center, influencers are people who

-Which type of auction does Figure 5-6A above represent?

At which stage of the organizational buying decision process would purchasing assess the financial status of potential suppliers?

E-Marketplaces refer to

Which of the following statements about the North American Industry Classification System (NAICS) is most accurate?

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

Exam 5: Understanding Organizations As Customers

When a seller puts an item up for sale and would-be buyers are invited to bid in competition with each other, it is referred to as a(n) __________.

Within the buying center, deciders are people who

-Based on Figure 5-1 above, what is the NAICS code for cable and other subscription programming?

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

What are the characteristics of organizational buying behavior?

A reorder of an existing product or service from a list of acceptable suppliers is referred to as a

The primary reason companies have placed an emphasis on buying from minority- and women-owned suppliers and vendors is because

People who control the flow of information in the buying center, such as technical experts and secretaries, can keep salespeople and information from reaching others in the buying center and are referred to as __________.

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

A university's marketing department typically purchases backpacks with its logo embroidered on them for all incoming freshmen. This year, because they've heard complaints, the marketing chair wants to buy similar backpacks but find one that is a little more durable. This is an example of a

A reverse auction refers to an online auction

A buy class situation affects buying center tendencies in different ways. If there are many people involved, the problem definition is uncertain, and the time required for a decision is long, the buy class situation is most likely a

The department secretary orders pens, copy paper, and printer ink cartridges for the department from the Corporate Express catalog nearly every month. This is an example of a

Within the buying center, influencers are people who

-Which type of auction does Figure 5-6A above represent?

At which stage of the organizational buying decision process would purchasing assess the financial status of potential suppliers?

E-Marketplaces refer to

Which of the following statements about the North American Industry Classification System (NAICS) is most accurate?

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