Question 1

Explain the different roles played by business center participants in the purchasing decision process.

Accepted Answer

Buying center participants play differen...

Question 2

A(n) _____ occurs when a purchaser is willing to reevaluate available options for repurchasing a good or service.

Accepted Answer

A)  merchandisers
B)  trade industries
C)  remanufacturing
D)  nearshoring
E)  end-use application segmentationF) global sourcingG) joint demandH) inelastic demandI) outsourcingJ) value analysisK) gatekeeperL) commercial marketM) reciprocityN) vendor analysisO) category advisorP) modified rebuyQ) demographic characteristics based segmentationR) influencersS) buyerT) customer-based segmentation

Question 3

Which of the following statements is true regarding the nature of the business market?

Accepted Answer

A)   Distribution channels for business products are significantly longer than those for consumer products.
B)   As compared to business markets, customer relationships in consumer markets tend to last for longer duration.
C)   Personal selling plays a bigger role in business markets than in consumer markets.
D)   As compared to consumer markets, purchase decisions in business markets are relatively simple because of relatively less number of decision makers.

Question 4

If Product A is used primarily to manufacture Product B,then the demand for product A is said to be "derived" from the demand for Product B.

Accepted Answer

A) True 
 B)False

Question 5

Purchasing a firm's entire stock of an item from just one vendor is termed as:

Accepted Answer

A)   multiple sourcing.
B)   sole sourcing.
C)   outsourcing.
D)   inverted sourcing.

Question 6

Organizational purchases such as office buildings and computer systems can be categorized as expense items.

Accepted Answer

A) True 
 B)False

Question 7

Discuss the various factors that an organization should consider while taking the make,buy,or lease decision.

Accepted Answer

Before a company can decide what to buy,it should decide whether to buy at all.Organizational buyers must figure out the best way to acquire needed products.In fact,a firm considering the acquisition of a finished good,component part,or service has three basic options:
a)Make the good or provide the service in-house.
b)Purchase it from another organization.
c)Lease it from another organization.
If the company has the capability to do so,manufacturing the product itself may be the best route.It may save a great deal of money if its own manufacturing division does not incur costs for overhead that an outside vendor would otherwise charge.
On the other hand,most firms cannot make all the business goods they need.Often it would be too costly to maintain the necessary equipment,staff,and supplies.As a result,purchasing from an outside vendor is the most common choice.Companies can also look outside their own plants for goods and services formerly produced in-house,a practice called outsourcing.
In some cases,however,a company may choose to lease inputs.This option spreads out costs compared with lump-sum costs for up-front purchases.The company pays for the use of equipment for a certain time period.This option can provide useful flexibility for a growing business,allowing it to easily upgrade as its needs change.

Question 8

A person who controls the information that all members of a buying center will review is referred to as a(n) _____.

Accepted Answer

A)  merchandisers
B)  trade industries
C)  remanufacturing
D)  nearshoring
E)  end-use application segmentationF) global sourcingG) joint demandH) inelastic demandI) outsourcingJ) value analysisK) gatekeeperL) commercial marketM) reciprocityN) vendor analysisO) category advisorP) modified rebuyQ) demographic characteristics based segmentationR) influencersS) buyerT) customer-based segmentation

Question 9

Which of the following is most likely to help marketers to segment organizational buyers by purchase categories?

Accepted Answer

A)   Business process reengineering
B)   Value engineering
C)   Management by objectives
D)   Customer relationship management

Question 10

The Federal Trade Commission in the United States views reciprocal arrangements as attempts to reduce competition.

Accepted Answer

A) True 
 B)False

Question 11

Firms that practice sole sourcing tend to order from a large pool of suppliers to hedge the risk of failure of one supplier.

Accepted Answer

A) True 
 B)False  False

Question 12

Outsourcing and offshoring have the potential to slow a company's efforts in bringing new products to market.

Accepted Answer

A) True 
 B)False

Question 13

The NAICS classification system is a useful tool for segmenting business markets by demographic characteristics.

Accepted Answer

A) True 
 B)False

Question 14

The business market features a limited number of buyers compared to consumer markets.

Accepted Answer

A) True 
 B)False

Question 15

Differentiate between value analysis and vendor analysis.Give an example for each.

Accepted Answer

Value analysis examines each component o...

Question 16

Reciprocal arrangements traditionally have been common in industries featuring heterogeneous products.

Accepted Answer

A) True 
 B)False

Question 17

Cotton and polyester are used in the production of permanent press clothing.If the supply of cotton is reduced,there will be an immediate effect on the demand for polyester.This relationship represents a(n) :

Accepted Answer

A)   derived demand.
B)   elastic demand.
C)   volatile demand.
D)   joint demand. D

Question 18

What are the potential problems associated with offshoring and outsourcing?

Accepted Answer

The potential problems associated with o...

Question 19

Which of the following can be categorized as a capital item purchased by organizational buyers?

Accepted Answer

A)   Office supplies
B)   Copy papers
C)   Production plant
D)   Machine lubricants

Question 20

DigiSmart,a manufacturer of electronic goods in Canada,has moved its manufacturing operations to Costa Rica.This move has helped the company to reduce their production costs and also allowed them to focus on the product design and research activities that lead to new products.The movement of business in this case is an example of _____.

Accepted Answer

A)   leasing
B)   offshoring
C)   inshoring
D)   global integration

Exam 7: Business-to-Business (B2B)Marketing

Explain the different roles played by business center participants in the purchasing decision process.

Correct Answer
verified
Buying center participants play differen...
View Answer

A(n) _____ occurs when a purchaser is willing to reevaluate available options for repurchasing a good or service.

Correct Answer
verified

Which of the following statements is true regarding the nature of the business market?

Correct Answer
verified

If Product A is used primarily to manufacture Product B,then the demand for product A is said to be "derived" from the demand for Product B.

Correct Answer
verified

Purchasing a firm's entire stock of an item from just one vendor is termed as:

Correct Answer
verified

Organizational purchases such as office buildings and computer systems can be categorized as expense items.

Correct Answer
verified

Discuss the various factors that an organization should consider while taking the make,buy,or lease decision.

A person who controls the information that all members of a buying center will review is referred to as a(n) _____.

Correct Answer
verified

Which of the following is most likely to help marketers to segment organizational buyers by purchase categories?

Correct Answer
verified

The Federal Trade Commission in the United States views reciprocal arrangements as attempts to reduce competition.

Correct Answer
verified

Firms that practice sole sourcing tend to order from a large pool of suppliers to hedge the risk of failure of one supplier.

Correct Answer
verified
False

Outsourcing and offshoring have the potential to slow a company's efforts in bringing new products to market.

Correct Answer
verified

The NAICS classification system is a useful tool for segmenting business markets by demographic characteristics.

Correct Answer
verified

The business market features a limited number of buyers compared to consumer markets.

Correct Answer
verified

Differentiate between value analysis and vendor analysis.Give an example for each.

Correct Answer
verified
Value analysis examines each component o...
View Answer

Reciprocal arrangements traditionally have been common in industries featuring heterogeneous products.

Correct Answer
verified

Cotton and polyester are used in the production of permanent press clothing.If the supply of cotton is reduced,there will be an immediate effect on the demand for polyester.This relationship represents a(n) :

Correct Answer
verified
D

What are the potential problems associated with offshoring and outsourcing?

Correct Answer
verified
The potential problems associated with o...
View Answer

Which of the following can be categorized as a capital item purchased by organizational buyers?

Correct Answer
verified

Correct Answer
verified

Exam 7: Business-to-Business (B2B)Marketing

Explain the different roles played by business center participants in the purchasing decision process.

Correct AnswerverifiedBuying center participants play differen...View AnswerShow Answer

A(n) _____ occurs when a purchaser is willing to reevaluate available options for repurchasing a good or service.

Correct AnswerverifiedShow Answer

Which of the following statements is true regarding the nature of the business market?

Correct AnswerverifiedShow Answer

If Product A is used primarily to manufacture Product B,then the demand for product A is said to be "derived" from the demand for Product B.

Correct AnswerverifiedShow Answer

Purchasing a firm's entire stock of an item from just one vendor is termed as:

Correct AnswerverifiedShow Answer

Organizational purchases such as office buildings and computer systems can be categorized as expense items.

Correct AnswerverifiedShow Answer

Discuss the various factors that an organization should consider while taking the make,buy,or lease decision.

A person who controls the information that all members of a buying center will review is referred to as a(n) _____.

Correct AnswerverifiedShow Answer

Which of the following is most likely to help marketers to segment organizational buyers by purchase categories?

Correct AnswerverifiedShow Answer

The Federal Trade Commission in the United States views reciprocal arrangements as attempts to reduce competition.

Correct AnswerverifiedShow Answer

Firms that practice sole sourcing tend to order from a large pool of suppliers to hedge the risk of failure of one supplier.

Correct AnswerverifiedFalse

Outsourcing and offshoring have the potential to slow a company's efforts in bringing new products to market.

Correct AnswerverifiedShow Answer

The NAICS classification system is a useful tool for segmenting business markets by demographic characteristics.

Correct AnswerverifiedShow Answer

The business market features a limited number of buyers compared to consumer markets.

Correct AnswerverifiedShow Answer

Differentiate between value analysis and vendor analysis.Give an example for each.

Correct AnswerverifiedValue analysis examines each component o...View AnswerShow Answer

Reciprocal arrangements traditionally have been common in industries featuring heterogeneous products.

Correct AnswerverifiedShow Answer

Cotton and polyester are used in the production of permanent press clothing.If the supply of cotton is reduced,there will be an immediate effect on the demand for polyester.This relationship represents a(n) :

Correct AnswerverifiedD

What are the potential problems associated with offshoring and outsourcing?

Correct AnswerverifiedThe potential problems associated with o...View AnswerShow Answer

Which of the following can be categorized as a capital item purchased by organizational buyers?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
verified
Buying center participants play differen...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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False

Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Value analysis examines each component o...
View Answer

Correct Answer
verified

Correct Answer
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D

Correct Answer
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The potential problems associated with o...
View Answer

Correct Answer
verified

Correct Answer
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