Question 1

In buying alliances, participants offer to trade goods or services.

Accepted Answer

A) True 
 B)False

Question 2

In the straight rebuy, "out-suppliers" try to get a small order and then enlarge their purchase share over time.

Accepted Answer

A) True 
 B)False

Question 3

Sometimes a rise of only 10% in consumer demand can cause as much as a 200% rise in business demand for products for the next period. This is an example of ________.

Accepted Answer

A)  inelastic demand 
B)  direct purchasing 
C)  fluctuating demand 
D)  derived demand 
E)  a straight rebuy

Question 4

Small sellers should first concentrate their marketing efforts on reaching ________.

Accepted Answer

A)  approvers 
B)  initiators 
C)  influencers 
D)  users 
E)  initiators.

Question 5

Orica Pte Ltd competes in the market for commercial explosives. The company recently changed its business model from just selling explosives to managing an entire blast in a quarry. This customer-solution-based approach to the sale of explosives is an example of ________.

Accepted Answer

A)  systems selling 
B)  straight rebuying 
C)  customer referencing 
D)  derived demand 
E)  channel consolidation

Question 6

Shoe manufacturers are not going to buy much more leather if the price of leather falls, nor will they buy much less leather if the price rises, unless they can find satisfactory substitutes. This is an example of ________.

Accepted Answer

A)  inelastic demand 
B)  direct purchasing 
C)  the acceleration effect 
D)  a modified rebuy 
E)  a straight rebuy

Question 7

The partners in ________ systems are united in operational ways, but neither demonstrates structural commitment through legal means or adaptation.

Accepted Answer

A)  mutually adaptive 
B)  cooperative 
C)  basic buying and selling 
D)  customer supply 
E)  cooperative.

Question 8

BEL is a small seller of specialized auto parts, while MES is a large seller of auto parts. Both firms want to approach the same car company with a view to supplying parts to it. How will their approaches differ?

Accepted Answer

The answer of BEL is a small seller of specialized...

Question 9

When purchasing disposable surgical gowns, Changi Hospital's vice president of purchasing analyzes whether the hospital should buy disposable gowns or reusable gowns. If the findings favor disposable gowns, then the operating-room administrator compares various competitors' products and prices and makes a choice. Surgeons influence the decision retroactively by reporting their satisfaction with the particular brand. In this situation, the operating-room administrator performs the role of the ________.

Accepted Answer

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

Question 10

Product value analysis is an approach to efficiency that studies whether components can be redesigned or made by more efficient methods of production without adversely impacting product performance.

Accepted Answer

A) True 
 B)False

Question 11

The business marketer normally deals with far fewer, much larger buyers than the consumer marketer does.

Accepted Answer

A) True 
 B)False

Question 12

Most business buyers reject what is called systems buying from one seller.

Accepted Answer

A) True 
 B)False

Question 13

Explain how fluctuating demand impacts business markets differently from consumer markets.

Accepted Answer

The answer of Explain how fluctuating demand impacts business markets...

Question 14

The total demand for many business goods and services is not much affected by price changes. Thus, this demand is ________.

Accepted Answer

A)  derived 
B)  fluctuating 
C)  accelerated 
D)  multiple 
E)  inelastic

Question 15

One of the problems facing B2B on the Web is that many firms often impose more stringent requirements on their online business partners than they do on non-online partners.

Accepted Answer

A) True 
 B)False

Question 16

With respect to assessing customer value, in conjoint analysis customers are asked to rank their preference for alternative market offerings or concepts.

Accepted Answer

A) True 
 B)False

Question 17

A new-task buyclass decision begins with which of the following steps?

Accepted Answer

A)  supplier search 
B)  general need description 
C)  product specification 
D)  problem recognition 
E)  proposal solicitation

Question 18

If you were an upper-level marketing executive of a large seller of trucks, which of the following strategies would be most appropriate in reaching buying center targets?

Accepted Answer

A)  Concentrate on key buying influencers. 
B)  Use multilevel in-depth selling. 
C)  Use trade-based promotions. 
D)  Concentrate sales efforts on the support staff. 
E)  Move all operations to the Internet.

Question 19

In the ________ method for assessing customer value, customers are asked to rank their preference for alternative market offerings or concepts. Statistical analysis is used to estimate the implicit value placed on each attribute.

Accepted Answer

A)  internal engineering assessment 
B)  importance ratings 
C)  field value-in-use assessment 
D)  benchmarking 
E)  conjoint analysis

Question 20

Jason Lim's company is considered to be an in-supplier for a vacuum cleaner manufacturer. However, recently the vacuum cleaner company has put out a memo to in- and out-suppliers indicating that it would like to change product specifications and delivery schedules. Which of the following buying situations is most likely to be in operation given this data?

Accepted Answer

A)  straight rebuy 
B)  single rebuy 
C)  rakeback rebuy 
D)  system buy 
E)  modified rebuy

Exam 7: Analyzing Business Markets

In buying alliances, participants offer to trade goods or services.

In the straight rebuy, "out-suppliers" try to get a small order and then enlarge their purchase share over time.

Sometimes a rise of only 10% in consumer demand can cause as much as a 200% rise in business demand for products for the next period. This is an example of ________.

Small sellers should first concentrate their marketing efforts on reaching ________.

Orica Pte Ltd competes in the market for commercial explosives. The company recently changed its business model from just selling explosives to managing an entire blast in a quarry. This customer-solution-based approach to the sale of explosives is an example of ________.

Shoe manufacturers are not going to buy much more leather if the price of leather falls, nor will they buy much less leather if the price rises, unless they can find satisfactory substitutes. This is an example of ________.

The partners in ________ systems are united in operational ways, but neither demonstrates structural commitment through legal means or adaptation.

BEL is a small seller of specialized auto parts, while MES is a large seller of auto parts. Both firms want to approach the same car company with a view to supplying parts to it. How will their approaches differ?

Product value analysis is an approach to efficiency that studies whether components can be redesigned or made by more efficient methods of production without adversely impacting product performance.

The business marketer normally deals with far fewer, much larger buyers than the consumer marketer does.

Most business buyers reject what is called systems buying from one seller.

Explain how fluctuating demand impacts business markets differently from consumer markets.

The total demand for many business goods and services is not much affected by price changes. Thus, this demand is ________.

One of the problems facing B2B on the Web is that many firms often impose more stringent requirements on their online business partners than they do on non-online partners.

With respect to assessing customer value, in conjoint analysis customers are asked to rank their preference for alternative market offerings or concepts.

A new-task buyclass decision begins with which of the following steps?

If you were an upper-level marketing executive of a large seller of trucks, which of the following strategies would be most appropriate in reaching buying center targets?

In the ________ method for assessing customer value, customers are asked to rank their preference for alternative market offerings or concepts. Statistical analysis is used to estimate the implicit value placed on each attribute.