Question 1

Purchasing paper for JCPMedia is one example of

Accepted Answer

A)   organizational buying.
B)   online buying.
C)   on-time delivery.
D)   derived demand.
E)   cooperative selling.F) C) and E)
G) D) and E)

Question 2

Figure 6-4
-Figure 6-4 above shows the three buy classes encountered by organizational buyers. Column C is referred to as a

Accepted Answer

A)   modified rebuy.
B)   straight rebuy.
C)   new buy.
D)   standard reorder.
E)   altered buy.F) C) and D)
G) B) and E)

Question 3

Many companies have broadened their buying objectives to include an emphasis on

Accepted Answer

A)   purchasing from as many vendors as possible to avoid component shortfalls.
B)   purchasing from start-up firms to grow the economy.
C)   diversifying their product lines and brand extensions to reduce the risk of failure for any one item.
D)   pricing freezes to maintain consistent quantities demanded from consumers.
E)   proactively purchasing from women- and minority-owned suppliers and vendors.F) A) and E)
G) None of the above

Question 4

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 bidding.F) B) and E)
G) B) and D)

Question 5

Graham-Field Health Products makes hospital beds and wheelchairs from the component parts and materials it buys. It sells these manufactured products to hospitals, nursing homes, and retailers of health care products. Graham-Field Health Products operates in ________ market.

Accepted Answer

A)   a consumer
B)   a government
C)   a service
D)   an industrial
E)   a resellerF) C) and D)
G) None of the above

Question 6

A buy-class situation affects buying center tendencies in different ways. If there is one person involved, the problem is well-defined, and the buying objective is to find a low-priced supplier, the buy-class situation is most likely a

Accepted Answer

A)   modified buy.
B)   straight rebuy.
C)   conditional rebuy.
D)   new buy.
E)   standard buy.F) None of the above
G) A) and D)

Question 7

Firms marketing 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)   also must sell to ultimate consumers because of the market potential.F) C) and D)
G) D) and E)

Question 8

When a seller puts an item up for sale and would-be buyers are invited to bid in competition with one another, it is referred to as a(n)

Accepted Answer

A)   reverse auction.
B)   traditional auction.
C)   bidder's war.
D)   e-auction.
E)   Webfront auction.F) All of the above
G) A) and B)

Question 9

Differentiate between traditional and reverse auctions.

Accepted Answer

In a traditional auction, there is one s...

Question 10

To be a Walmart supplier, a firm must be able to deliver its products to Walmart's 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

Accepted Answer

A)   a supplier value dimension.
B)   a derived demand factor.
C)   an evaluative criterion.
D)   an external performance measure.
E)   an organizational buying criterion.F) B) and C)
G) All of the above

Question 11

Large multistore chain retailers such as 7-Eleven convenience stores, Safeway, and Target use a highly formalized buying center that is referred to as a

Accepted Answer

A)   buying task force.
B)   buying committee.
C)   merchandise procurement center.
D)   purchasing department.
E)   purchasing control system.F) All of the above
G) C) and D)

Question 12

The objective attributes of the supplier's products and services and the capabilities of the supplier itself are collectively referred to as

Accepted Answer

A)   the supplier consideration set.
B)   derived demand factors.
C)   evaluative criteria.
D)   performance metrics.
E)   organizational buying criteria.F) B) and C)
G) C) and D)

Question 13

A firm that reprocesses a product or service it buys before selling the product again to the next buyer is referred to as

Accepted Answer

A)   an industrial firm.
B)   a reseller firm.
C)   a government agency.
D)   a wholesaler.
E)   a retailer.F) None of the above
G) A) and D)

Question 14

Mark manages a small family-owned amusement park. He believes the park can increase its profits if its owners will buy three food concession trailers. Mark has contacted three dealers of such trailers, which come fully customized to user specifications. After receiving three bids, Mark concluded that Century Industries has the best offer. He will present only the Century Industries information to the family tomorrow. What buying center roles does Mark perform?

Accepted Answer

A)   gatekeeper and buyer
B)   decider and user
C)   buyer and decider
D)   influencer and buyer
E)   influencer, gatekeeper, and deciderF) B) and C)
G) C) and D)

Question 15

Among organizational markets, the reseller market includes

Accepted Answer

A)   manufacturers.
B)   logistics and supply chain providers.
C)   government agencies.
D)   end-user service providers.
E)   retailers and wholesalers.F) A) and E)
G) B) and D)

Question 16

The acronym NAICS stands for

Accepted Answer

A)   National Association of Industrial Compliance Standards.
B)   National Association of Industrial Communication Systems.
C)   North American Industrial Communication Standards.
D)   North American Industry Classification System.
E)   North Atlantic Industrial Classification System.F) None of the above
G) B) and C)

Question 17

Marketers need to understand their customers' buying centers. A series of questions can be used to facilitate this process. Which of the following questions would be the least useful when trying to understand the operations of a buying center?

Accepted Answer

A)   Which individuals are in the buying center for the product or service?
B)   What is the relative influence of each member of the group?
C)   What are the buying criteria of each member?
D)   How does each member of the group perceive our company, our products and services, and our salespeople?
E)   What criteria were used to select the members of the buying center?F) B) and C)
G) A) and C)

Question 18

In terms of organizational markets, Amazon.com, Office Depot, and JCPenney would most likely be classified as

Accepted Answer

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

Question 19

________ 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) A) and D)
G) A) and C)

Question 20

E-marketplace can take two different formats, which are

Accepted Answer

A)   brick-and-mortar exchanges and click-and-mortar exchanges.
B)   privately owned trading communities and open-to-the-public trading communities.
C)   networked exchanges or public trading communities.
D)   independent trading communities or private exchanges.
E)   public exchanges and networked exchanges.F) B) and C)
G) A) and B)

Exam 6: Understanding Organizations As Customers

Among organizational markets, the reseller market includes

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

In terms of organizational markets, Amazon.com, Office Depot, and JCPenney would most likely be classified as

Correct Answer
verified

Many companies have broadened their buying objectives to include an emphasis on

Correct Answer
verified

________ comprise the highest percentage of firms in industrial markets.

Correct Answer
verified

Graham-Field Health Products makes hospital beds and wheelchairs from the component parts and materials it buys. It sells these manufactured products to hospitals, nursing homes, and retailers of health care products. Graham-Field Health Products operates in ________ market.

Correct Answer
verified

Figure 6-4 -Figure 6-4 above shows the three buy classes encountered by organizational buyers. Column C is referred to as a

Correct Answer
verified

A buy-class situation affects buying center tendencies in different ways. If there is one person involved, the problem is well-defined, and the buying objective is to find a low-priced supplier, the buy-class situation is most likely a

Correct Answer
verified

Differentiate between traditional and reverse auctions.

Correct Answer
verified
In a traditional auction, there is one s...
View Answer

Marketers need to understand their customers' buying centers. A series of questions can be used to facilitate this process. Which of the following questions would be the least useful when trying to understand the operations of a buying center?

Correct Answer
verified

A firm that reprocesses a product or service it buys before selling the product again to the next buyer is referred to as

Correct Answer
verified

The objective attributes of the supplier's products and services and the capabilities of the supplier itself are collectively referred to as

Correct Answer
verified

The acronym NAICS stands for

Correct Answer
verified

Purchasing paper for JCPMedia is one example of

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

Correct Answer
verified

When a seller puts an item up for sale and would-be buyers are invited to bid in competition with one another, it is referred to as a(n)

Correct Answer
verified

E-marketplace can take two different formats, which are

Correct Answer
verified

Large multistore chain retailers such as 7-Eleven convenience stores, Safeway, and Target use a highly formalized buying center that is referred to as a

Correct Answer
verified

Exam 6: Understanding Organizations As Customers

Among organizational markets, the reseller market includes

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

In terms of organizational markets, Amazon.com, Office Depot, and JCPenney would most likely be classified as

Correct AnswerverifiedShow Answer

Many companies have broadened their buying objectives to include an emphasis on

Correct AnswerverifiedShow Answer

________ comprise the highest percentage of firms in industrial markets.

Correct AnswerverifiedShow Answer

Graham-Field Health Products makes hospital beds and wheelchairs from the component parts and materials it buys. It sells these manufactured products to hospitals, nursing homes, and retailers of health care products. Graham-Field Health Products operates in ________ market.

Correct AnswerverifiedShow Answer

Figure 6-4 -Figure 6-4 above shows the three buy classes encountered by organizational buyers. Column C is referred to as a

Correct AnswerverifiedShow Answer

A buy-class situation affects buying center tendencies in different ways. If there is one person involved, the problem is well-defined, and the buying objective is to find a low-priced supplier, the buy-class situation is most likely a

Correct AnswerverifiedShow Answer

Differentiate between traditional and reverse auctions.

Correct AnswerverifiedIn a traditional auction, there is one s...View AnswerShow Answer

Marketers need to understand their customers' buying centers. A series of questions can be used to facilitate this process. Which of the following questions would be the least useful when trying to understand the operations of a buying center?

Correct AnswerverifiedShow Answer

A firm that reprocesses a product or service it buys before selling the product again to the next buyer is referred to as

Correct AnswerverifiedShow Answer

The objective attributes of the supplier's products and services and the capabilities of the supplier itself are collectively referred to as

Correct AnswerverifiedShow Answer

The acronym NAICS stands for

Correct AnswerverifiedShow Answer

Purchasing paper for JCPMedia is one example of

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

Correct AnswerverifiedShow Answer

When a seller puts an item up for sale and would-be buyers are invited to bid in competition with one another, it is referred to as a(n)

Correct AnswerverifiedShow Answer

E-marketplace can take two different formats, which are

Correct AnswerverifiedShow Answer

Large multistore chain retailers such as 7-Eleven convenience stores, Safeway, and Target use a highly formalized buying center that is referred to as a

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
In a traditional auction, there is one s...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
verified