Question 1

Important product or service characteristics in organizational buying include which of the following?

Accepted Answer

A)  Products or services that are technical in nature and purchased on the basis of specifications.
B)  A heavy emphasis is placed on delivery time,technical assistance,and postsale service.
C)  Direct selling to organizational buyers is rare.
D)  A fixed,nonnegotiable price is the norm.
E)  Personal relationships are preferred to online buying over the Internet.F) B) and D)
G) B) and E)

Question 2

At which point of the organizational buying decision process would a firm use a formal vendor rating system to evaluate the quality of the vendor's product and customer service?

Accepted Answer

A)  problem recognition
B)  information search
C)  purchase decision
D)  postpurchase behavior
E)  performance reviewF) B) and C)
G) None of the above

Question 3

Merrill Lynch and Thompson Financial had a three-year,$1 billion project that put workstations on the desks of 25,000 of Merrill Lynch's brokers.These machines put the world of investing information at brokers' fingertips.Thompson,the supplier,was obligated to not only deliver technology and services on time and on budget,but also constantly improve customer-satisfaction levels among Merrill's brokers and customers.This is an example of

Accepted Answer

A)  a reciprocity agreement.
B)  exclusive dealing.
C)  supplier alliance.
D)  a buyer-seller relationship.
E)  a tying arrangement.F) B) and E)
G) B) and D)

Question 4

How might a marketing manager for a manufacturer of turboprop engines,used in private jet planes,use the NAICS to help her with marketing planning?

Accepted Answer

A)  Record the NAICS numbers for each of her firm's best customers and then obtain lists of companies with the same NAICS numbers.
B)  Go to a library and find the NAICS numbers for all government units-federal,state,and local.
C)  Identify all NAICS numbers that reflect the classifications of her firm's customers and compare them to previous SIC codes.
D)  Poll her field sales organization to see if her company's sales representatives know what NAICS numbers mean.
E)  Forgo using the NAICS system because it has recently been replaced by the SIC system,which is more useful in this scenario.F) A) and B)
G) A) and C)

Question 5

The decision-making process that organizations use to establish the need for products and services and identify,evaluate,and choose among alternative brands and suppliers is referred to as

Accepted Answer

A)  the consumer purchase decision process.
B)  the industrial purchase procedure.
C)  organizational buying behavior.
D)  the offering purchase framework.
E)  the sustainable procurement process.F) A) and C)
G) C) and E)

Question 6

A list of firms believed to be qualified to supply a given item is referred to as a

Accepted Answer

A)  bidder's list.
B)  make-buy list.
C)  supplier's sheet.
D)  vendor-rating sheet.
E)  e-marketplace.F) None of the above
G) A) and E)

Question 7

Which of the following is a service business within the industrial market?

Accepted Answer

A)  construction
B)  mining
C)  insurance
D)  government
E)  farmingF) B) and C)
G) All of the above

Question 8

All of the following are organizational buyers EXCEPT:

Accepted Answer

A)  industrial firms.
B)  government units.
C)  ultimate consumers.
D)  resellers.
E)  wholesalers.F) B) and C)
G) A) and E)

Question 9

In terms of organizational buyers,Amazon.com,Lands' End,and JCPenney would most LIKELY classified as __________.

Accepted Answer

A)  government units
B)  resellers
C)  manufacturers
D)  wholesalers
E)  industrial firmsF) A) and C)
G) D) and E)

Question 10

Firms selling consumer products or services often try to reach thousands or millions of individuals or households.Firms selling to organizations

Accepted Answer

A)  try to reach tens of millions of wholesalers,retailers,and government units.
B)  are restricted to far fewer buyers.
C)  hope to obtain similar numbers of business customers,or even more.
D)  do not have customers,per se.
E)  simultaneously purchase from organizational buyers and ultimate consumers.F) B) and D)
G) B) and E)

Question 11

An industrial buying practice in which two organizations agree to purchase each other's products and services is referred to as __________.

Accepted Answer

A)  a tying arrangement
B)  exclusive dealing
C)  reciprocity
D)  a supply partnership
E)  noncompetitive biddingF) A) and C)
G) B) and E)

Question 12

When the Federal Aviation Administration (FAA) purchases radars for 22 major air traffic control centers in the U.S. ,it is operating as a(n)

Accepted Answer

A)  government unit.
B)  industrial market.
C)  business market.
D)  consumer market.
E)  service provider.F) All of the above
G) C) and D)

Question 13

For e-marketplaces,large companies tend to favor __________ that link them with their network of qualified suppliers and customers.

Accepted Answer

A)  centralized markets
B)  decentralized markets
C)  private exchanges
D)  segregated markets
E)  independent trading communitiesF) A) and E)
G) C) and E)

Question 14

If a purchase is a new buy for a manufacturer,the seller should expect

Accepted Answer

A)  specifications to be changed many times before the buy is completed.
B)  a lot of conflict.
C)  many people to be involved in the purchase decision.
D)  to have to do some favors for the decision-makers.
E)  to avoid making concessions or compromises.F) A) and B)
G) B) and E)

Question 15

__________ comprise the highest percentage of firms in industrial markets.

Accepted Answer

A)  Manufacturing firms
B)  Construction firms
C)  Agricultural firms
D)  Mining companies
E)  Service companiesF) C) and D)
G) B) and E)

Question 16

Unfortunately,the NAICS system will not allow marketing managers to gather information about

Accepted Answer

A)  import competition in domestic markets.
B)  geographic distribution of industries.
C)  market share in a pure competition environment.
D)  demand for products and services.
E)  data on industries that are oligopolies.F) None of the above
G) All of the above

Question 17

Mining companies,farms,financial services,and fisheries are all examples of

Accepted Answer

A)  consumer markets.
B)  cooperative markets.
C)  reseller markets.
D)  industrial markets.
E)  government markets.F) A) and C)
G) C) and D)

Question 18

A business market is also referred to as

Accepted Answer

A)  a transactional market.
B)  a corporate market.
C)  organizational buyers.
D)  a reseller market.
E)  an industrial market.F) B) and D)
G) B) and C)

Question 19

Reverse auctions

Accepted Answer

A)  are buyer-initiated.
B)  benefit the sellers significantly more than the buyers.
C)  have an increasing number of buyers as the auction progresses.
D)  do not allow sequential bidding.
E)  have many buyers at the start of the auction.F) D) and E)
G) A) and E)

Question 20

To be a Walmart supplier,a firm must be able to deliver its products to its distribution centers within a 16-minute window.If the driver arrives before or after the scheduled window,the supplier will be turned away and fined.Walmart's insistence on choosing a supplier based upon its ability to provide on-time delivery is an example of a(n)

Accepted Answer

A)  supplier value dimension.
B)  derived demand factor.
C)  evaluative criterion.
D)  external performance measure.
E)  organizational buying criterion.F) C) and E)
G) A) and B)

Exam 6: Understanding Organizations As Customers

Unfortunately,the NAICS system will not allow marketing managers to gather information about

Correct Answer
verified

An industrial buying practice in which two organizations agree to purchase each other's products and services is referred to as __________.

Correct Answer
verified

For e-marketplaces,large companies tend to favor __________ that link them with their network of qualified suppliers and customers.

Correct Answer
verified

The decision-making process that organizations use to establish the need for products and services and identify,evaluate,and choose among alternative brands and suppliers is referred to as

Correct Answer
verified

All of the following are organizational buyers EXCEPT:

Correct Answer
verified

When the Federal Aviation Administration (FAA) purchases radars for 22 major air traffic control centers in the U.S. ,it is operating as a(n)

Correct Answer
verified

In terms of organizational buyers,Amazon.com,Lands' End,and JCPenney would most LIKELY classified as __________.

Correct Answer
verified

Reverse auctions

Correct Answer
verified

Correct Answer
verified

A list of firms believed to be qualified to supply a given item is referred to as a

Correct Answer
verified

Important product or service characteristics in organizational buying include which of the following?

Correct Answer
verified

Correct Answer
verified

At which point of the organizational buying decision process would a firm use a formal vendor rating system to evaluate the quality of the vendor's product and customer service?

Correct Answer
verified

Firms selling consumer products or services often try to reach thousands or millions of individuals or households.Firms selling to organizations

Correct Answer
verified

Mining companies,farms,financial services,and fisheries are all examples of

Correct Answer
verified

__________ comprise the highest percentage of firms in industrial markets.

Correct Answer
verified

How might a marketing manager for a manufacturer of turboprop engines,used in private jet planes,use the NAICS to help her with marketing planning?

Correct Answer
verified

Which of the following is a service business within the industrial market?

Correct Answer
verified

If a purchase is a new buy for a manufacturer,the seller should expect

Correct Answer
verified

A business market is also referred to as

Correct Answer
verified

Exam 6: Understanding Organizations As Customers

Unfortunately,the NAICS system will not allow marketing managers to gather information about

Correct AnswerverifiedShow Answer

An industrial buying practice in which two organizations agree to purchase each other's products and services is referred to as __________.

Correct AnswerverifiedShow Answer

For e-marketplaces,large companies tend to favor __________ that link them with their network of qualified suppliers and customers.

Correct AnswerverifiedShow Answer

The decision-making process that organizations use to establish the need for products and services and identify,evaluate,and choose among alternative brands and suppliers is referred to as

Correct AnswerverifiedShow Answer

All of the following are organizational buyers EXCEPT:

Correct AnswerverifiedShow Answer

When the Federal Aviation Administration (FAA) purchases radars for 22 major air traffic control centers in the U.S. ,it is operating as a(n)

Correct AnswerverifiedShow Answer

In terms of organizational buyers,Amazon.com,Lands' End,and JCPenney would most LIKELY classified as __________.

Correct AnswerverifiedShow Answer

Reverse auctions

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A list of firms believed to be qualified to supply a given item is referred to as a

Correct AnswerverifiedShow Answer

Important product or service characteristics in organizational buying include which of the following?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

At which point of the organizational buying decision process would a firm use a formal vendor rating system to evaluate the quality of the vendor's product and customer service?

Correct AnswerverifiedShow Answer

Firms selling consumer products or services often try to reach thousands or millions of individuals or households.Firms selling to organizations

Correct AnswerverifiedShow Answer

Mining companies,farms,financial services,and fisheries are all examples of

Correct AnswerverifiedShow Answer

__________ comprise the highest percentage of firms in industrial markets.

Correct AnswerverifiedShow Answer

How might a marketing manager for a manufacturer of turboprop engines,used in private jet planes,use the NAICS to help her with marketing planning?

Correct AnswerverifiedShow Answer

Which of the following is a service business within the industrial market?

Correct AnswerverifiedShow Answer

If a purchase is a new buy for a manufacturer,the seller should expect

Correct AnswerverifiedShow Answer

A business market is also referred to as

Correct AnswerverifiedShow Answer

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