55 free test bank with answers for business marketing connecting strategy relationships and learning 4th edition

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55 Free Test Bank for Business Marketing Connecting Strategy Relationships and Learning 4th Edition

by Dwyer Multiple Choice Questions - Page 1

All the following are ways in which business marketing differs from consumer marketing EXCEPT:

1 a Its distribution channels are shorter and more direct

2 b It emphasizes personal selling and negotiation

3 C The Web is not integrated

4 d It employs "unique" promotional strategies

5 e It requires knowledge of the customer's customer

When purchasing products/services to be consumed in support of the firm's operation, the firm is BEST described as a(n):

1 A User

2 b Institution

3 c Reseller

4 d Government agency

5 e Wholesaler

Increasingly, organizational survival depends upon firms being:

1 a Individual-driven

2 B Market-driven

3 c Ideology-driven

4 d Product-driven

5 e Sales-driven

Users are similar to final consumers in that:

1 a They purchase products to include in their own final product

2 B Satisfaction is determined through consumption

3 c They are primarily influenced by advertising

4 d The impact upon profit is not important

5 e They incorporate their purchases into their final product

These members of an organization are specifically responsible for coordinating their company's efforts at satisfying their customers

1 A Salespeople

2 b Middle managers

3 c Supervisors

4 d Human resource personnel

5 e First-line managers

When a company purchases a product or service to be included in its own final product, the company is called a(n)

1 a Reseller

2 b User

3 c Institution

4 D Original equipment manufacturer

5 e Industrial distributor

Business marketers do NOT sell to:

1 a Other companies

2 b Government bodies

3 c Institutions

4 d Service suppliers

5 E Individual consumers

BASF salespeople work directly with fire departments to sell the latest fire-fighting chemicals and ensure that they are used properly This example shows that business marketing is characterized by _ compared to consumer marketing

1 a Longer distribution channels

2 B Greater emphasis on personal selling

3 c Varying buyer-seller relationships

4 d Greater web integration

5 e Consumption

Being _ means that customer satisfaction and operational efficiency are the order of the day for every department and

individual employee or associate

1 a Product-driven

2 b Profit-driven

3 c Technology-driven

4 D Market-driven

5 e Sales-driven

In terms of personal selling, which of the following statements is TRUE?

1 a A business cannot be successful through personally getting to know each individual and coordinating the sales-purchase process

2 B Complex buying procedures involving many members of the buying

organization require personal selling

3 c Multiple personal relationships can strengthen organizational relationships and these relationships are the responsibility of the manager

4 d A customer's size and a direct channel do not affect the importance of negotiation

5 e Large orders sold directly by the manufacturer to the user increase the likelihood of negotiation because changes can be made in place and promotion

BASF sells fibers direct to Dupont for the manufacture of carpet and through distributors to smaller companies This example shows that business marketing is characterized by _ compared to

consumer marketing

1 A Shorter distribution channels

2 b Marketing research

3 c Greater web integration

4 d Consumption

5 e Lesser emphasis on personal selling

Why is the demand for business products dependent ultimately on individual consumers?

1 a Because individual consumers are larger than business customers

2 b Because individuals within organizations purchase for personal

consumption and consumers do not

3 C Because business markets consume products in the process of making other products

4 d Because the buyers of business products are the final consumers

5 e Because of the emphasis on personal selling for business products

Which of the following statements about buyer-seller relationships

in business marketing is TRUE?

1 a Strong personal and business relationships between buyer and seller are extremely rare

2 b Close personal relationships exist between buyer and seller in all industries

3 c Personal selling is never an important element of the marketing mix

4 d Companies rarely enter into long-term contracts as the opportunity cost of mistakes is high

5 E Many companies focus on building relationships that enable buyers and sellers to plan jointly

In business marketing, large customer size and use of direct

channels increase the importance of:

1 a Advertising

2 b Distribution

3 C Negotiation

4 d Packaging

5 e Production

Government agencies tend to have complex purchasing processes because purchasing is:

1 a Limited to military goods

2 b Solely designed to produce profits

3 c Solely for their own use

4 D Often designed to accomplish social objectives

5 e Largely influenced by negotiation

Identify the largest single purchaser of products and services in the United States.

1 a Wal-Mart

2 b Defense department

3 C Government

4 d Financial institutions

5 e Steel industry

OEMs are BEST described as:

1 a End users

2 B Companies that consume

3 c Government agencies

4 d Firms that resell a product without making any changes

5 e Institutions

_ means that at many organizations, individuals with

complementary expertise and skills work in teams to constantly strive to serve organizational customers better, to innovate and to develop the means to approach new institutional markets

1 a Product-driven

2 b Profit-driven

3 c Technology-driven

4 D Market-driven

5 e Sales-driven

Which of the following is NOT a valid reason for studying business marketing?

1 a The magnitude of business marketing

2 b Business marketing is unique

3 c One type of marketing does not fit all situations

4 d It is an exciting area of study

5 E It is the same as consumer marketing

All the following types of customers purchase products for

consumption EXCEPT:

1 A Brokers

2 b Original equipment manufacturers

3 c Hospitals

4 d Universities

5 e Users

In the United States:

1 a The state governments are the single largest consumers

2 b The government does not use any product it buys

3 c The purchasing processes used by the government are simple and easy to sell to

4 d The federal government is the only government customer

5 E The federal government is the country's largest single landlord

Resellers include all of the following EXCEPT:

1 a Wholesalers

2 b Dealers

3 C Government agencies

4 d Brokers

5 e Industrial distributors

55 Free Test Bank for Business Marketing Connecting Strategy Relationships and Learning 4th Edition by

Dwyer Multiple Choice Questions - Page 2

Products purchased for use in the firm's operations are usually called:

1 a OEM parts

2 b Capital goods

3 c Accessory equipments

4 D MRO items

5 e Component parts

As one moves further away from the consumer market, derived demand can cause wide swings in demand, called

1 a Inelasticity

2 B Volatility

3 c Make-or-buy

4 d Deficiency

5 e Dissolution

Raw materials

1 A Are sold to OEMs for use in the products they manufacture

2 b Are parts assembled into the final product without further transformation

3 c Facilitate a firm's achievement of its objectives, but are not part of the final product

4 d Are also called installations

5 e Are products sold to users for use in the company's operations

A key raw material for technology-driven companies is:

1 a MRO item

2 B Personnel

3 c Steel

4 d Accessory equipment

5 e Location

Value is equivalent to _ for the buyer

1 a Product

2 b Price

3 C Profit

4 d Distribution

5 e Cost

Typically, business marketers face:

1 a Hypothetical demand

2 b Highly elastic demand

3 C Derived demand

4 d Latent demand

5 e Primary demand

In business markets, products are generally classified on the basis of:

1 a Price

2 b Durability

3 C Type of purchaser and reason for purchase

4 d Size and weight of product

5 e Type of promotion employed

Industrial products having no substitutes typically face:

1 A Inelastic demand

2 b Volatile demand

3 c Elastic demand

4 d Stable demand

5 e Unitary demand

Computers used to facilitate the company's achievement of its objectives, but not part of the final product would be BEST

described as:

1 a OEM parts

2 b Component parts

3 C Accessory equipment

4 d Raw materials

5 e Subassembly

Facilitating supplies:

1 a Are also called OEM products

2 b Refer to products sold to users for use in the company's final product

3 c Are materials processed only to the point required for economic handling and distribution

4 d Are parts assembled into the final product without further transformation

5 E Support company efforts but are not part of the final product

Business marketers must recognize that the demand for their

products and services is _ demand, which means that demand for their products and services results from the demand for their customers' products and services

1 A Derived

2 b Concentrated

3 c Limited

4 d Direct

5 e Conditional

Parts that may be assembled into a final product without further processing are BEST described as:

1 a Capital equipment

2 b Manufactured materials

3 c Raw materials

4 d MROs

5 E OEM parts

_ is something that provides incremental value when

compared to other offerings

1 A Competitive advantage

2 b Value chain

3 c Volatility

4 d Demand elasticity

5 e Derived demand

The percentage change in sales relative to the percentage change

in price is:

1 a Volatile demand

2 b Market demand

3 c Final demand

4 D Demand elasticity

5 e Price elasticity

Gold purchased by AT&T for use in the manufacture of

telecommunications equipment would be BEST described as a(n):

1 A Raw material

2 b Facilitating supply

3 c Manufactured material

4 d Component part

5 e MRO

Marketing is BEST described as a(n) _ process

1 a Sales

2 b Profit-maximizing

3 c Cost-minimizing

4 D Integrative

5 e Internal

Policies designed to encourage the growth of minority- or women-owned businesses as well as small businesses are examples of _ policies that influence government purchasing

1 A Social objective

2 b Environmental objective

3 c Economic objective

4 d Business objective

5 e Protectionist

Compared to the typical household buying, the organizational purchasing process:

1 a Involves lesser number of people

2 b Rarely involves checks and controls

3 c Arises from implicit negotiation, expertise and habit

4 D Is more complex

5 e Uses crude cost accounting systems and cash flow management

Which of following business customers provide services similar to those delivered by wholesalers and retailers of consumer goods?

1 a OEMs

2 b Government agencies

3 c Institutions

4 d Private contractors

5 E Industrial distributors

Janitorial products, painting contractors who paint the buildings, plumbing services and heating and air conditioning services fall under:

1 a MRO items

2 b Repair services

3 C Maintenance products

4 d Capital equipment

5 e Accessory equipment

Sometimes, a company purchases OEM parts and assembles

these to make a component for installation into the final product by another company The component may then be called a(n)

1 a Facilitating product

2 b Manufactured material

3 c Installation

4 D Subassembly

5 e MRO item

Which of the following product types has been transformed from the raw material and requires further processing before use?

1 a OEM

2 B Manufactured material

3 c Component part

4 d Capital equipment

5 e MRO

What is an important difference between accessory and capital equipment when it comes to marketing the equipment to users?

1 a Accessory equipment is part of the organization's final product while capital equipment facilitates the organization's activities

2 B Capital equipment is much more expensive and its purchase may involve more members of the organization than purchase of accessory equipment

3 c Accessory equipment demand is derived from the demand for consumer products

4 d Marketing requirements for accessory equipment are different as more members of the organization must be reached by marketing efforts

5 e Capital equipment is ordered on a more regular basis than accessory equipment

Compared to individual consumers, business customers:

1 a Have less stringent standards for judging a vendor

2 b Are more in number

3 C Are more likely to be geographically concentrated

4 d Have lower purchasing power

5 e Are less important to the financial success of the business marketer

The system of value creation is also known as:

1 a Organizational value

2 b Quality process

3 C A value chain

4 d Competitive advantage

5 e Core competency

Value

1 a Is equivalent to profit for a seller

2 B Is the perception of how much the buyer benefited beyond what was

invested in a product

3 c Is the reason why an organization is created

4 d Is based on some general need that has been identified in the market

5 e Is the recognition of a need and the means to satisfy it

The hiring of an advertising agency would be BEST descried as the purchase of a(n):

1 a Operating supply

2 B Facilitating service

3 c Component part

4 d MRO

5 e Accessory

Gates Controls may purchase plastic casing, a component part, from Plastech and parts from Metric Devices and then put these components together into a tachometer that is sold to GM GM would then put the tachometer into its cars or trucks GM may refer

to the part as a(n)

1 A Assembly

2 b Manufactured material

3 c Accessory equipment

4 d Capital equipment

5 e MRO item

Overhead cranes, blast furnaces, industrial robots and other

manufacturing equipment as well as forklifts, road graters and other heavy construction machinery are examples of

1 a MRO items

2 b Maintenance products

3 c Manufactured materials

4 d Accessory equipment

5 E Capital equipment

Marketing is a process by which the marketer creates:

1 a Derived demand

2 b Vision

3 C Value

4 d Volatility

5 e Service

Facilitating products:

1 A Aid the company's achievement of its objectives, but are not part of the final product

2 b Are parts assembled into the final product without further transformation

3 c Include raw and manufactured materials, component parts or OEM parts and assemblies

4 d Are parts assembled to make a component for installation into the final product by another company

5 e Are parts assembled into the final product without further transformation

Large, expensive items used in the production process are BEST classified as:

1 A Capital equipment

2 b OEMs