Question 1

The more identical digits in the sequence of a North American Industry Classification System code among companies,the less homogeneous that group of companies' main manufacturing processes are.

Accepted Answer

A) True 
 B)False

Question 2

Quality,service,and price are three important components of _____________.

Accepted Answer

A)   evaluative criteria
B)   business ethics
C)   buying centers
D)   customer serviceE) A) and C)
F) All of the above

Question 3

In a(n) _____ situation,a purchaser wants to make a change in the original good or service.

Accepted Answer

A)   initiation buy
B)   straight rebuy
C)   new buy
D)   modified rebuyE) A) and D)
F) B) and D)

Question 4

Differentiate between major equipment and accessory equipment.

Accepted Answer

Answers will vary.Major equipment includ...

Question 5

Companies selling to business buyers face the same challenges as all marketers of goods and services,including determining __________.

Accepted Answer

A)   the target market and deciding how best to reach it
B)   supply chain efficiency
C)   the activity of organizing the movement to reach end customers
D)   the attractive offers of the products to buyersE) A) and B)
F) C) and D)

Question 6

Many companies offer ethics training to employees and have codes of ethics that help guide buyers and sellers in business.

Accepted Answer

A) True 
 B)False

Question 7

Wonder Coffee is a chain of coffee serving outlets and specializes in selling different flavors of coffee.The increase in the price of sugar does not affect Wonder Coffee's coffee prices very much and sales continue at their usual level.Identify the type of demand in this scenario.

Accepted Answer

A)   Inelastic demand
B)   Fluctuating demand
C)   Joint demand
D)   Elastic demandE) B) and D)
F) All of the above

Question 8

Which of the following scenarios illustrates the use of processed materials in manufacturing?

Accepted Answer

A)   No-Glut Inc.uses rice flour to manufacture its gluten-free products.
B)   Zintec Hardware Inc.uses nails to hold its ladders together.
C)   Pace Corp.,an automobile company,uses magnesium alloy wheels for its high-end cars.
D)   Reldex Steel Corp.uses blast furnaces in its manufacturing process.E) A) and B)
F) All of the above

Question 9

Which statement describes a primary feature of a buying center?

Accepted Answer

A)   The composition of the buying group usually is static for all purchases.
B)   The number of people involved in a buying center varies with the complexity and importance of a purchase decision.
C)   The average buying center includes more than 10 people.
D)   Membership and influence does not vary from company to company.E) A) and C)
F) C) and D)

Question 10

Ethics refers to a firm's belief that an ongoing relationship with another firm is so important that it warrants maximum efforts at maintaining it indefinitely.

Accepted Answer

A) True 
 B)False

Question 11

A product bought to satisfy an individual's personal wants or needs is a ________ product.

Accepted Answer

A)   retail
B)   business
C)   consumer
D)   distributorE) A) and B)
F) None of the above

Question 12

Taking into consideration to business relationships in Japan,which of the following best defines the term amae?

Accepted Answer

A)   It is the feeling of nurturing concern for,and dependence upon,another.
B)   It is the lack of motivation among employees in businesses.
C)   It is a legal consolidation and collaboration of companies into a single entity.
D)   It is the lack of economic competition in the market.E) B) and D)
F) B) and C)

Question 13

A business relationship in which executives sit on the boards of their customers or suppliers; trade with each other whenever possible; and often engage in joint product development,finance,and marketing activity.The following affirmation represents____________.

Accepted Answer

A)   amae
B)   keiretsu
C)   trust
D)   commitmentE) A) and B)
F) A) and C)

Question 14

A firm's belief that an ongoing relationship with another firm is so important that the relationship warrants maximum efforts at maintaining it indefinitely,is _________.

Accepted Answer

A)   trust
B)   relationship commitment
C)   a strategic alliance
D)   engagementE) C) and D)
F) A) and D)

Question 15

Describe the role of resellers who comprise one the major categories of business customers.

Accepted Answer

Answers will vary.The reseller market in...

Question 16

The ability to marshal resources,understand the buyer's business goals,respond to requests,and be willing to be held accountable are important characteristics specifically required in ___________.

Accepted Answer

A)   retailers
B)   purchaser
C)   sales representatives
D)   distributorsE) All of the above
F) A) and D)

Question 17

With regard to business products,which of the following statements is true of major equipment?

Accepted Answer

A)   It is generally marketed by local industrial distributors.
B)   It is sold through a longer distribution channel than accessory equipment.
C)   It is often custom designed for each customer according to requirements.
D)   It is less expensive and shorter-lived than accessory equipment.E) A) and C)
F) B) and C)

Question 18

Which is an important basis for establishing competitive advantage and differentiating one's company from competitors?

Accepted Answer

A)   Delivering consistent,high-quality customer service.
B)   Providing a high-quality product advertised by word-of-mouth.
C)   Using an automated survey to determine the postsale satisfaction of customers.
D)   Giving importance only to high-end customersE) None of the above
F) A) and C)

Question 19

Which of the following statements is true of raw materials that are used as business products?

Accepted Answer

A)   The promotion of raw materials is almost always done via mass advertising.
B)   They are usually sold in large quantities.
C)   Individual manufacturer have great flexibility in the pricing of raw materials.
D)   They are finished items that are ready for assembly.E) All of the above
F) A) and B)

Question 20

A business-to-business online exchange is an electronic trading floor that provides companies with integrated links to their customers and suppliers.

Accepted Answer

A) True 
 B)False

Exam 7: Business Marketing

Describe the role of resellers who comprise one the major categories of business customers.

Correct AnswerverifiedAnswers will vary.The reseller market in...View AnswerShow Answer

In a(n) _____ situation,a purchaser wants to make a change in the original good or service.

Correct AnswerverifiedShow Answer

Which of the following statements is true of raw materials that are used as business products?

Correct AnswerverifiedShow Answer

The ability to marshal resources,understand the buyer's business goals,respond to requests,and be willing to be held accountable are important characteristics specifically required in ___________.

Correct AnswerverifiedShow Answer

Quality,service,and price are three important components of _____________.

Correct AnswerverifiedShow Answer

Companies selling to business buyers face the same challenges as all marketers of goods and services,including determining __________.

Correct AnswerverifiedShow Answer

Which is an important basis for establishing competitive advantage and differentiating one's company from competitors?

Correct AnswerverifiedShow Answer

Which of the following scenarios illustrates the use of processed materials in manufacturing?

Correct AnswerverifiedShow Answer

Differentiate between major equipment and accessory equipment.

Correct AnswerverifiedAnswers will vary.Major equipment includ...View AnswerShow Answer

With regard to business products,which of the following statements is true of major equipment?

Correct AnswerverifiedShow Answer

The more identical digits in the sequence of a North American Industry Classification System code among companies,the less homogeneous that group of companies' main manufacturing processes are.

Correct AnswerverifiedShow Answer

A business relationship in which executives sit on the boards of their customers or suppliers; trade with each other whenever possible; and often engage in joint product development,finance,and marketing activity.The following affirmation represents____________.

Correct AnswerverifiedShow Answer

A business-to-business online exchange is an electronic trading floor that provides companies with integrated links to their customers and suppliers.

Correct AnswerverifiedShow Answer

A product bought to satisfy an individual's personal wants or needs is a ________ product.

Correct AnswerverifiedShow Answer

Many companies offer ethics training to employees and have codes of ethics that help guide buyers and sellers in business.

Correct AnswerverifiedShow Answer

Wonder Coffee is a chain of coffee serving outlets and specializes in selling different flavors of coffee.The increase in the price of sugar does not affect Wonder Coffee's coffee prices very much and sales continue at their usual level.Identify the type of demand in this scenario.

Correct AnswerverifiedShow Answer

Ethics refers to a firm's belief that an ongoing relationship with another firm is so important that it warrants maximum efforts at maintaining it indefinitely.

Correct AnswerverifiedShow Answer

A firm's belief that an ongoing relationship with another firm is so important that the relationship warrants maximum efforts at maintaining it indefinitely,is _________.

Correct AnswerverifiedShow Answer

Taking into consideration to business relationships in Japan,which of the following best defines the term amae?

Correct AnswerverifiedShow Answer

Which statement describes a primary feature of a buying center?

Correct AnswerverifiedShow Answer

Correct Answer
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Answers will vary.The reseller market in...
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Answers will vary.Major equipment includ...
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