Question 1

Another name for an e-marketplace is a(n)

Accepted Answer

A) WebXChange. 
B) WebMart. 
C) 2B1 marketplace. 
D) C2C market forum. 
E) B2B exchange 
A) WebXChange. 
B) WebMart. 
C) 2B1 marketplace. 
D) C2C market forum. 
E) B2B exchange

Question 2

A firm that reprocesses a product or service it buys before selling the product again to the next buyer is referred to as a(n)

Accepted Answer

A) industrial firm. 
B) reseller firm. 
C) government agency. 
D) wholesaler. 
E) retailer. 
A) industrial firm. 
B) reseller firm. 
C) government agency. 
D) wholesaler. 
E) retailer.

Question 3

Reverse auctions

Accepted Answer

A) are seller-initiated. 
B) benefit the sellers significantly more than the buyers. 
C) have an increasing number of buyers as the auction progresses. 
D) put downward pressure on prices. 
E) have many buyers. 
A) are seller-initiated. 
B) benefit the sellers significantly more than the buyers. 
C) have an increasing number of buyers as the auction progresses. 
D) put downward pressure on prices. 
E) have many buyers.

Question 4

JCPenney looks at several capabilities when selecting a paper supplier. These organizational buying criteria include on-time delivery, the availability, quality and quantity of selected grades of paper, forestry management and sustainable practices, and price. This examination would be done during the __________ stage of the organizational buying decision process.

Accepted Answer

A) procurement analysis 
B) break-even analysis 
C) purchase decision 
D) information search 
E) alternative evaluation 
A) procurement analysis 
B) break-even analysis 
C) purchase decision 
D) information search 
E) alternative evaluation

Question 5

In terms of organizational buying, 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 6

European Style Furniture (ESF), headquartered in New York, acquires fine furniture from several high quality manufacturers in Europe and enjoys exclusive distribution rights from them to sell to furniture stores throughout the U.S. In this context, ESF is most likely classified as a

Accepted Answer

A) producer. 
B) reseller. 
C) service provider. 
D) government agency. 
E) industrial firm. 
A) producer. 
B) reseller. 
C) service provider. 
D) government agency. 
E) industrial firm.

Question 7

Business-to-business electronic commerce over the Internet

Accepted Answer

A) is nearly equivalent to consumer electronic commerce when measured by the total dollar value of all online transactions. 
B) is at least four times greater than consumer electronic commerce when measured by the total dollar value of all online transactions. 
C) has dramatically decreased since face-to-face communication between a firm's salesforce and its potential customers is so important. 
D) is impossible to estimate since companies will not share information. 
E) has never been popular since timely information is unavailable or deemed to be proprietary. 
A) is nearly equivalent to consumer electronic commerce when measured by the total dollar value of all online transactions. 
B) is at least four times greater than consumer electronic commerce when measured by the total dollar value of all online transactions. 
C) has dramatically decreased since face-to-face communication between a firm's salesforce and its potential customers is so important. 
D) is impossible to estimate since companies will not share information. 
E) has never been popular since timely information is unavailable or deemed to be proprietary.

Question 8

In an e-marketplace, an online auction 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 is referred to as a

Accepted Answer

A) vertical auction. 
B) reverse auction. 
C) horizontal auction. 
D) traditional auction. 
E) reciprocal auction. 
A) vertical auction. 
B) reverse auction. 
C) horizontal auction. 
D) traditional auction. 
E) reciprocal auction.

Question 9

All of the following statements about the purchase involved in organizational buying are true EXCEPT:

Accepted Answer

A) the length of time required to arrive at a purchase agreement can vary with size of purchase. 
B) the dollar value of a single purchase made by an organization often runs into thousands or millions of dollars. 
C) the size of purchase impacts who participates in the purchase decision. 
D) the size of purchase impacts who makes the final decision. 
E) the size of the purchase involved in organizational buying is typically smaller than that in consumer buying but it is done more frequently. 
A) the length of time required to arrive at a purchase agreement can vary with size of purchase. 
B) the dollar value of a single purchase made by an organization often runs into thousands or millions of dollars. 
C) the size of purchase impacts who participates in the purchase decision. 
D) the size of purchase impacts who makes the final decision. 
E) the size of the purchase involved in organizational buying is typically smaller than that in consumer buying but it is done more frequently.

Question 10

At which stage of the organizational buying decision process would design and production engineers draft specifications?

Accepted Answer

A) problem recognition 
B) information search 
C) alternative evaluation 
D) purchase decision 
E) value analysis 
A) problem recognition 
B) information search 
C) alternative evaluation 
D) purchase decision 
E) value analysis

Question 11

During the next-to-last stage of the organizational buying decision process, the organization

Accepted Answer

A) drafts specifications. 
B) formally rates suppliers that were used. 
C) evaluates supplier facilities. 
D) awards the contract. 
E) recognizes a need for change 
A) drafts specifications. 
B) formally rates suppliers that were used. 
C) evaluates supplier facilities. 
D) awards the contract. 
E) recognizes a need for change

Question 12

Business marketing refers to

Accepted Answer

A) the marketing of goods to companies, governments, or ultimate consumers for use in the creation of goods and services. 
B) the marketing of products to not-for-profit organizations at a reduced fee or nominal cost for use in the creation of goods and services that they can produce and market to others. 
C) the marketing of goods and services to companies, governments, or not-for-profit organizations for use in the creation of products that they can produce and market to others. 
D) the marketing of services in the area of intellectual property such as legal, financial, or creative consulting. 
E) the marketing of an idea to create interest or generate goodwill, not just for an individual brand but also for an entire industry or product class. 
A) the marketing of goods to companies, governments, or ultimate consumers for use in the creation of goods and services. 
B) the marketing of products to not-for-profit organizations at a reduced fee or nominal cost for use in the creation of goods and services that they can produce and market to others. 
C) the marketing of goods and services to companies, governments, or not-for-profit organizations for use in the creation of products that they can produce and market to others. 
D) the marketing of services in the area of intellectual property such as legal, financial, or creative consulting. 
E) the marketing of an idea to create interest or generate goodwill, not just for an individual brand but also for an entire industry or product class.

Question 13

Apple, Inc. custom orders the microprocessors for its iMac, iPhone, and iPad. Intel makes chips for the iMac and Samsung produces Apple-designed chips for the iPhone and iPad. Intel and Samsung work with Apple to minimize costs for each of them while maximizing quality, ultimately giving customers good value for their money. This is an example of a(n)

Accepted Answer

A) symbiotic partnership. 
B) make-buy decision. 
C) reciprocal agreement. 
D) supply partnership. 
E) exclusive dealing. 
A) symbiotic partnership. 
B) make-buy decision. 
C) reciprocal agreement. 
D) supply partnership. 
E) exclusive dealing.

Question 14

Organizations face three specific kinds of buying situations. They are new buy, straight rebuy, and modified rebuy. Collectively, these situations are referred to as

Accepted Answer

A) industrial buying behavior. 
B) reseller buying behavior. 
C) buy classes. 
D) purchase criteria. 
E) consideration sets. 
A) industrial buying behavior. 
B) reseller buying behavior. 
C) buy classes. 
D) purchase criteria. 
E) consideration sets.

Question 15

The office of SFX Entertainment, a talent promoter, needs a new fax machine that will print at three seconds a page (instead of five seconds per page like the one it is using now) and has both local and network printing capabilities. The purchase of a replacement fax machine would be 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 16

Purchases of sodium fluoride by Procter & Gamble for use in the manufacture of Crest toothpaste would be an example of __________ demand.

Accepted Answer

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

Question 17

When JCPenney buys paper, it considers suppliers' forest management and other sustainability practices. For JCPenney, these are important

Accepted Answer

A) profit responsibilities. 
B) organizational buying criteria. 
C) ecological mandates. 
D) legal authorities. 
E) buying center roles. 
A) profit responsibilities. 
B) organizational buying criteria. 
C) ecological mandates. 
D) legal authorities. 
E) buying center roles.

Question 18

Which of the following characterizes organizational buyer-seller relationships?

Accepted Answer

A) Purchases are often made after brief negotiations. 
B) Purchases are usually of small dollar values. 
C) Long-term contracts are often prevalent. 
D) Reciprocal arrangements are prohibited by the federal government. 
E) Delivery schedules are largely irrelevant. 
A) Purchases are often made after brief negotiations. 
B) Purchases are usually of small dollar values. 
C) Long-term contracts are often prevalent. 
D) Reciprocal arrangements are prohibited by the federal government. 
E) Delivery schedules are largely irrelevant.

Question 19

Liberty Medical Supply is a home delivery service that sells diabetes testing supplies, prescription drugs, and other supplies directly to consumers to assist them in the management of their health-related conditions. Since Liberty Medical does not make any changes to the supplies that it obtains from manufacturers, it would most likely be classified as a(n) __________.

Accepted Answer

A) industrial service provider 
B) health care manufacturer 
C) industrial firm 
D) reseller 
E) government agency 
A) industrial service provider 
B) health care manufacturer 
C) industrial firm 
D) reseller 
E) government agency

Question 20

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

Accepted Answer

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

Another name for an e-marketplace is a(n)

A firm that reprocesses a product or service it buys before selling the product again to the next buyer is referred to as a(n)

Reverse auctions

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

European Style Furniture (ESF), headquartered in New York, acquires fine furniture from several high quality manufacturers in Europe and enjoys exclusive distribution rights from them to sell to furniture stores throughout the U.S. In this context, ESF is most likely classified as a

Business-to-business electronic commerce over the Internet

In an e-marketplace, an online auction 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 is referred to as a

All of the following statements about the purchase involved in organizational buying are true EXCEPT:

At which stage of the organizational buying decision process would design and production engineers draft specifications?

During the next-to-last stage of the organizational buying decision process, the organization

Business marketing refers to

Organizations face three specific kinds of buying situations. They are new buy, straight rebuy, and modified rebuy. Collectively, these situations are referred to as

The office of SFX Entertainment, a talent promoter, needs a new fax machine that will print at three seconds a page (instead of five seconds per page like the one it is using now) and has both local and network printing capabilities. The purchase of a replacement fax machine would be an example of a

Purchases of sodium fluoride by Procter & Gamble for use in the manufacture of Crest toothpaste would be an example of __________ demand.

When JCPenney buys paper, it considers suppliers' forest management and other sustainability practices. For JCPenney, these are important

Which of the following characterizes organizational buyer-seller relationships?

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

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

Another name for an e-marketplace is a(n)

A firm that reprocesses a product or service it buys before selling the product again to the next buyer is referred to as a(n)

Reverse auctions

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

European Style Furniture (ESF), headquartered in New York, acquires fine furniture from several high quality manufacturers in Europe and enjoys exclusive distribution rights from them to sell to furniture stores throughout the U.S. In this context, ESF is most likely classified as a

Business-to-business electronic commerce over the Internet

In an e-marketplace, an online auction 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 is referred to as a

All of the following statements about the purchase involved in organizational buying are true EXCEPT:

At which stage of the organizational buying decision process would design and production engineers draft specifications?

During the next-to-last stage of the organizational buying decision process, the organization

Business marketing refers to

Organizations face three specific kinds of buying situations. They are new buy, straight rebuy, and modified rebuy. Collectively, these situations are referred to as

Purchases of sodium fluoride by Procter & Gamble for use in the manufacture of Crest toothpaste would be an example of __________ demand.

When JCPenney buys paper, it considers suppliers' forest management and other sustainability practices. For JCPenney, these are important

Which of the following characterizes organizational buyer-seller relationships?

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

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