Question 1

The U.S.federal government buys goods and services valued at more than $875 billion per year,making it the world's largest customer.

Accepted Answer

A) True 
 B)False

Question 2

_____ exists when one party has confidence in an exchange partner's reliability and integrity.

Accepted Answer

A)   Obeya
B)   Trust
C)   Keiretsu
D)   CommitmentE) All of the above
F) A) and C)

Question 3

This category of the business market often carries thousands of items in stock and employs sales forces to call on business customers.Who are they?

Accepted Answer

A)   Resellers
B)   Producers
C)   Distributors
D)   GovernmentsE) All of the above
F) C) and D)

Question 4

Which of the following statements is true of business marketing?

Accepted Answer

A)   It refers to the sale of goods and services for the purpose of personal consumption.
B)   It deals with products that are used to facilitate an organization's operations.
C)   It has long and indirect channels of distribution.
D)   It includes selling stationeries to students.E) A) and B)
F) All of the above

Question 5

Which statement is true of business markets?

Accepted Answer

A)   Products or services are sold for personal consumption.
B)   Goods sold in consumer markets are not sold in business markets.
C)   One customer can account for a huge volume of purchases.
D)   Relationship marketing is given the least importance.E) B) and D)
F) All of the above

Question 6

Which statement is true of new software applications being developed every year that provide customer information?

Accepted Answer

A)   These apps can help lower costs,increase supply chain efficiency,or enhance customer retention,loyalty,and trust.
B)   Many business customers do not depend on these applications for marketing.
C)   Business marketing does not require vigilant adjustment to keep track of new applications and platforms.
D)   New applications are rarely developed for providing additional details of customers.E) A) and C)
F) A) and B)

Question 7

Which of the following is true regarding the number of customers in business markets?

Accepted Answer

A)   Business marketers have many more customers than consumer marketers.
B)   It is lot easier for business marketers to identify prospective buyers,monitor current customers' needs and levels of satisfaction.
C)   It becomes impossible for business marketers to attend to each customer in their markets.
D)   The main advantage for business marketers is that each customer becomes crucial-especially for those manufacturers that have only one customer.E) None of the above
F) A) and C)

Question 8

Which of the following statements is true of accessory equipment?

Accepted Answer

A)   It includes goods such as large or expensive machines and mainframe computers.
B)   It includes goods such as portable drills,power tools,and microcomputers.
C)   It includes goods such as lubricants,detergents,paper towels,pencils,and paper.
D)   It includes goods such as spark plugs,tires,and electric motors for automobiles.E) B) and C)
F) A) and D)

Question 9

An advantage of business markets having fewer customers in comparison with consumer markets is that it

Accepted Answer

A)   reduces the attention required to be given to customers.
B)   makes it easy to identify prospective buyers.
C)   reduces the dependency on distributors for product delivery.
D)   increases product diversity.E) B) and C)
F) C) and D)

Question 10

The manager of TruColor Printers Inc.has purchased a sophisticated printing press for $1 million.Which of the following statements is most likely to be true about the printing press?

Accepted Answer

A)   It will depreciate over its useful life.
B)   It will be charged as an expense in the year it is bought.
C)   It will be purchased by the customers through higher prices.
D)   It will be bought through retailers.E) A) and B)
F) A) and C)

Question 11

Which of the following statements is true of MRO (maintenance,repair,or operating) supplies?

Accepted Answer

A)   They become part of a final product.
B)   They are intangible business products.
C)   They are relatively expensive when compared to other business products.
D)   They are normally standardized items that purchasing agents routinely buy.E) B) and D)
F) C) and D)

Question 12

Vactin Corp.,a construction company,buys ten truckloads of cement for its new project.Given this information,the cement bought is an example of a(n) _____.

Accepted Answer

A)   consumer product
B)   service product
C)   industrial product
D)   manufacture productE) A) and B)
F) A) and C)

Question 13

Schools,hospitals,colleges and universities,churches,labor unions,fraternal organizations,civic clubs,foundations,and other so-called nonbusiness organizations are the components of which business market segment?

Accepted Answer

A)   Federal government
B)   Producers
C)   Institutions
D)   State,county,and city governmentE) B) and C)
F) A) and D)

Question 14

In a buying center,the decider is the person who actually negotiates a purchase.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following statements is true of buyers in consumer markets versus buyers in business markets?

Accepted Answer

A)   Buyers in consumer markets tend to be insensitive to price,while buyers in business markets are very particular about price.
B)   Buyer demand for consumer products in consumer markets is less stable than buyer demand for business products in business markets.
C)   Buyers in consumer markets approach purchasing more informally,while buyers in business markets approach purchasing more formally.
D)   Buyers in consumer markets involve more people in a single purchase decision,while buyers in business markets involve less people in a single purchase decision.E) None of the above
F) C) and D)

Question 16

Intix Inc.is a manufacturer of mother boards for computer systems,which sells its product to the firms which manufacture assembled computers.Which of the following is true in this scenario?

Accepted Answer

A)   A special feature of component parts is that they could not retain their identity after becoming part of the final product.
B)   The finished items are ready for assembly or are products that need very little processing before becoming part of some other product.
C)   The goods which are less expensive and shorter lived than major equipment.
D)   The expense items that do not become part of a final product.E) None of the above
F) B) and C)

Question 17

In social media marketing,awareness occurs when action is taken by a business or individual consumer that includes everything from downloading a piece of content (like a white paper)to actually making a purchase.

Accepted Answer

A) True 
 B)False

Question 18

A consumer product is also known as an industrial product.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is true of leasing?

Accepted Answer

A)   Businesses normally buy products rather than lease them,even they are very expensive.
B)   Leasing allows firms to reduce capital outflow,acquire a seller's latest products,receive better services,and gain tax advantages.
C)   Use of leasing is not encouraged in business markets.
D)   Manufacturers do not use leasing in their businesses.E) None of the above
F) All of the above

Question 20

Providing superior service to a firm's most valuable customers is likely to result in a maximization of the total business value generated over time.

Accepted Answer

A) True 
 B)False

Exam 7: Business Marketing

Which of the following statements is true of business marketing?

Correct AnswerverifiedShow Answer

Which of the following statements is true of buyers in consumer markets versus buyers in business markets?

Correct AnswerverifiedShow Answer

Which statement is true of business markets?

Correct AnswerverifiedShow Answer

This category of the business market often carries thousands of items in stock and employs sales forces to call on business customers.Who are they?

Correct AnswerverifiedShow Answer

In social media marketing,awareness occurs when action is taken by a business or individual consumer that includes everything from downloading a piece of content (like a white paper)to actually making a purchase.

Correct AnswerverifiedShow Answer

Vactin Corp.,a construction company,buys ten truckloads of cement for its new project.Given this information,the cement bought is an example of a(n) _____.

Correct AnswerverifiedShow Answer

Which of the following is true of leasing?

Correct AnswerverifiedShow Answer

Which statement is true of new software applications being developed every year that provide customer information?

Correct AnswerverifiedShow Answer

Which of the following is true regarding the number of customers in business markets?

Correct AnswerverifiedShow Answer

The manager of TruColor Printers Inc.has purchased a sophisticated printing press for $1 million.Which of the following statements is most likely to be true about the printing press?

Correct AnswerverifiedShow Answer

The U.S.federal government buys goods and services valued at more than $875 billion per year,making it the world's largest customer.

Correct AnswerverifiedShow Answer

An advantage of business markets having fewer customers in comparison with consumer markets is that it

Correct AnswerverifiedShow Answer

In a buying center,the decider is the person who actually negotiates a purchase.

Correct AnswerverifiedShow Answer

Which of the following statements is true of MRO (maintenance,repair,or operating) supplies?

Correct AnswerverifiedShow Answer

A consumer product is also known as an industrial product.

Correct AnswerverifiedShow Answer

Providing superior service to a firm's most valuable customers is likely to result in a maximization of the total business value generated over time.

Correct AnswerverifiedShow Answer

Which of the following statements is true of accessory equipment?

Correct AnswerverifiedShow Answer

_____ exists when one party has confidence in an exchange partner's reliability and integrity.

Correct AnswerverifiedShow Answer

Intix Inc.is a manufacturer of mother boards for computer systems,which sells its product to the firms which manufacture assembled computers.Which of the following is true in this scenario?

Correct AnswerverifiedShow Answer

Schools,hospitals,colleges and universities,churches,labor unions,fraternal organizations,civic clubs,foundations,and other so-called nonbusiness organizations are the components of which business market segment?

Correct AnswerverifiedShow Answer

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