Question 1

A performance review is the first step in the buygrid framework.

Accepted Answer

A) True 
 B)False

Question 2

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

Question 3

In the buygrid framework model,where the major stages of the industrial buying process are listed and characterized,supplier selection is an important process.What follows supplier selection and what occurs in this phase?

Accepted Answer

The answer of In the buygrid framework model,where the major...

Question 4

The business market consists of all the organizations that acquire goods and services used in the production of other products or services that are sold,rented,or supplied to others.

Accepted Answer

A) True 
 B)False

Question 5

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 6

If you were a purchasing agent facing a modified rebuy situation,how would you describe that situation?

Accepted Answer

The answer of If you were a purchasing agent facing...

Question 7

List the seven roles played by members of a buying center.

Accepted Answer

The answer of List the seven roles played by members...

Question 8

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 9

In the buying center,several people can occupy a given role such as user or influencer,and one person may play multiple roles.

Accepted Answer

A) True 
 B)False

Question 10

Many business buyers prefer to buy a total solution to a problem from one seller.This process is also known as ________.

Accepted Answer

A) channel consolidation 
B) systems buying 
C) vertical buying 
D) horizontal buying 
E) supply buying

Question 11

According to Patrick Jung,the eight stages in the business buying-decision process are known as ________.

Accepted Answer

A) buyphases 
B) buybacks 
C) buyouts 
D) buyables 
E) buyoffs

Question 12

In reordering office supplies,the only stages that the buyer passes through are the product specification stage and the ________ stage.

Accepted Answer

A) problem recognition 
B) general need description 
C) order-routine specification 
D) supplier search 
E) performance review

Question 13

Describe the practices of systems buying and systems contracting.

Accepted Answer

The answer of Describe the practices of systems buying and...

Question 14

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

Accepted Answer

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

Question 15

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

Accepted Answer

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

Question 16

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 17

A good illustration of a member of the institutional market would be Boeing because it is a member of the aviation institution structure.

Accepted Answer

A) True 
 B)False

Question 18

Vertical coordination can facilitate stronger customer-seller ties but at the same time may increase the risk to the customer's and supplier's specific investments.

Accepted Answer

A) True 
 B)False

Question 19

Researchers have found that buyer-supplier relationships could be classified into eight different categories.What category would be appropriate for a relationship where,although bonded by a close,cooperative relationship,the seller adapts to meet the customer's needs without expecting much adaptation or change on the part of the customer in exchange?

Accepted Answer

The answer of Researchers have found that buyer-supplier relationships could...

Question 20

Companies are increasingly reducing the number of suppliers they utilize,and there is a trend toward single sourcing.

Accepted Answer

A) True 
 B)False

Exam 7: Analyzing Business Markets

A performance review is the first step in the buygrid framework.

In the buygrid framework model,where the major stages of the industrial buying process are listed and characterized,supplier selection is an important process.What follows supplier selection and what occurs in this phase?

The business market consists of all the organizations that acquire goods and services used in the production of other products or services that are sold,rented,or supplied to others.

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

If you were a purchasing agent facing a modified rebuy situation,how would you describe that situation?

List the seven roles played by members of a buying center.

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 buying center,several people can occupy a given role such as user or influencer,and one person may play multiple roles.

Many business buyers prefer to buy a total solution to a problem from one seller.This process is also known as ________.

According to Patrick Jung,the eight stages in the business buying-decision process are known as ________.

In reordering office supplies,the only stages that the buyer passes through are the product specification stage and the ________ stage.

Describe the practices of systems buying and systems contracting.

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

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

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.

A good illustration of a member of the institutional market would be Boeing because it is a member of the aviation institution structure.

Vertical coordination can facilitate stronger customer-seller ties but at the same time may increase the risk to the customer's and supplier's specific investments.

Companies are increasingly reducing the number of suppliers they utilize,and there is a trend toward single sourcing.