Question 1

Corporate credibility depends on corporate expertise, corporate trustworthiness, and corporate likability.

Accepted Answer

A) True 
 B)False

Question 2

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 3

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

Accepted Answer

A) True 
 B)False

Question 4

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 5

Sellers benefit from systems contracting through lower operating costs as a result of steady demand and reduced paperwork.

Accepted Answer

A) True 
 B)False

Question 6

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 7

What are the three different types of buying situations faced by a typical business buyer?

Accepted Answer

The answer of What are the three different types of...

Question 8

Commoditization strengthens customer loyalty.

Accepted Answer

A) True 
 B)False

Question 9

________ occurs when customers are given a perspective or point of view that allows the firm to "put its best foot forward."

Accepted Answer

A)  Gatekeeping 
B)  Commoditization 
C)  Framing 
D)  Rebuying 
E)  Bartering

Question 10

Ultimately, the amount of steel sold to General Motors depends on the consumers' demand for GM cars and trucks. From the standpoint of the steel manufacturer, which of the following demand forms is most pertinent?

Accepted Answer

A)  derived demand 
B)  inelastic demand 
C)  geographic demand 
D)  relational demand 
E)  static demand

Question 11

Which of the following is a challenge in which business marketers differ from the consumer marketers?

Accepted Answer

A)  understanding deep customer needs in new ways 
B)  identifying new opportunities for organic business growth 
C)  geographically concentrated buyers 
D)  calculating better marketing performance and accountability metrics 
E)  competing and growing in global markets, particularly China

Question 12

The business market is essentially the same market as the consumer market.

Accepted Answer

A) True 
 B)False

Question 13

Robert Jennings consultants help farmers deliver an incremental animal weight gain of 8% to 12% over competitors. This is an example of ________.

Accepted Answer

A)  solutions selling to enhance customer revenues 
B)  solutions selling to reduce customer costs 
C)  solutions selling to decrease customer risks 
D)  solutions selling to simplify customer purchasing 
E)  solutions to provide better partnership

Question 14

Describe the practices of systems buying and systems contracting.

Accepted Answer

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

Question 15

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 16

How can a marketer overcome the negative effects of commoditization?

Accepted Answer

A)  convince target consumers that the firm's products are as good as those of competitors 
B)  convince target consumers that price is irrelevant in determining quality 
C)  convince target consumers that the firm's products are different from those of competitors 
D)  convince target customers that buying the highest-priced product is no guarantee of quality 
E)  convince target customers that all the products in the market are equivalent

Question 17

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 18

Small sellers concentrate on multilevel in-depth selling instead of reaching the key buying influencers.

Accepted Answer

A) True 
 B)False

Question 19

Which type of buying situation would be preferred if the management wants to minimize decision-making time and effort.

Accepted Answer

The answer of Which type of buying situation would be...

Question 20

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...

Exam 7: Analyzing Business Markets

Corporate credibility depends on corporate expertise, corporate trustworthiness, and corporate likability.

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

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

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

Sellers benefit from systems contracting through lower operating costs as a result of steady demand and reduced paperwork.

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

What are the three different types of buying situations faced by a typical business buyer?

Commoditization strengthens customer loyalty.

________ occurs when customers are given a perspective or point of view that allows the firm to "put its best foot forward."

Ultimately, the amount of steel sold to General Motors depends on the consumers' demand for GM cars and trucks. From the standpoint of the steel manufacturer, which of the following demand forms is most pertinent?

Which of the following is a challenge in which business marketers differ from the consumer marketers?

The business market is essentially the same market as the consumer market.

Robert Jennings consultants help farmers deliver an incremental animal weight gain of 8% to 12% over competitors. This is an example of ________.

Describe the practices of systems buying and systems contracting.

How can a marketer overcome the negative effects of commoditization?

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 ________.

Small sellers concentrate on multilevel in-depth selling instead of reaching the key buying influencers.

Which type of buying situation would be preferred if the management wants to minimize decision-making time and effort.

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?