Question 1

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

Accepted Answer

A)  ​Promotion of raw materials is almost always promoted via mass advertising.
B)  They are usually sold in large quantities.
C)  Individual producers have great flexibility in the pricing of raw materials.
D)  ​They are finished items ready for assembly.E) None of the above
F) All of the above

Question 2

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

Question 3

Explain the distribution structure followed in business markets.

Accepted Answer

Answers will vary.Many consumer products...

Question 4

Which of the following characteristics distinguishes business products from consumer products?

Accepted Answer

A)  ​Physical form
B)  Intended use
C)  Distribution method
D)  ​PriceE) B) and C)
F) A) and D)

Question 5

_____ refers to the phenomenon in which a small increase or decrease in consumer demand can produce a much larger change in demand for the facilities and equipment needed to make the consumer product.

Accepted Answer

A)  ​The multiplier effect
B)  Reciprocity
C)  The conversion rate
D)  ​FrequencyE) None of the above
F) B) and D)

Question 6

Which of the following is a difference between supplies and business services?

Accepted Answer

A)  ​Supplies are consumable items, whereas business services are expense items.
B)  Supplies are more expensive compared to other business goods, whereas business services are economical.
C)  Supplies are part of a final product, whereas business services do not become part of a final product.
D)  ​Supplies are custom designed for each customer, whereas business services are normally standardized.E) B) and C)
F) A) and C)

Question 7

The segment of the business market that seeks to achieve goals other than the standard business goals of profit,market share,and return on investment consists of _____.

Accepted Answer

A)  ​institutions
B)  resellers
C)  producers
D)  ​manufacturersE) All of the above
F) A) and D)

Question 8

Vactin Corp.,a construction company,buys ten truckloads of cement for its new construction 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)  ​unsought productE) None of the above
F) All of the above

Question 9

Discuss the importance of customer service in business marketing.

Accepted Answer

Answers will vary.Business marketers are...

Question 10

In the context of business products,major equipment:

Accepted Answer

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

Question 11

Leo buys 500 sheets of paper from a vendor for his printing firm.He is satisfied with the product,and he orders the same quantity from the same vendor every week.This is most likely an example of a(n) _____.

Accepted Answer

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

Question 12

Fluctuating demand is the demand for two or more items used together in a final product.

Accepted Answer

A) True 
 B)False

Question 13

The more digits in a North American Industry Classification System code,the less homogeneous a group will be.

Accepted Answer

A) True 
 B)False

Question 14

Tamery Corp.is engaged in marketing various goods and services.It buys goods from various manufacturers and sells them to businesses and end consumers.Given this information,Tamery Corp.is said to be selling consumer products if:

Accepted Answer

A)  ​it sells books to students.
B)  it sells spare parts to automobile manufacturers.
C)  it sells laptops to a hotel.
D)  ​it sells printers to a partnership firm.E) A) and B)
F) A) and C)

Question 15

_____ are goods,such as portable drills and computer software,which are less expensive and shorter-lived than installations.

Accepted Answer

A)  ​Component parts
B)  Major equipment
C)  Raw materials
D)  ​Accessory equipmentE) B) and C)
F) A) and B)

Question 16

In a buying center,the person who has the formal or informal power to choose or approve the selection of a supplier or brand is known as the _____.

Accepted Answer

A)  ​decider
B)  purchaser
C)  gatekeeper
D)  ​initiatorE) A) and B)
F) A) and C)

Question 17

Unlike buyers in business markets,buyers in consumer markets tend to:

Accepted Answer

A)  ​be insensitive to price.
B)  generate less stable demand trends.
C)  approach purchasing more informally.
D)  ​involve more people in a single purchase decision.E) B) and C)
F) B) and D)

Question 18

In the context of categories of business customers,describe the role of resellers.

Accepted Answer

Answers will vary.The reseller market in...

Question 19

The goal of business-to-business exchanges is to simplify business purchasing and to make it more efficient.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following is a similarity between raw materials and component parts?

Accepted Answer

A)  ​Both fail to retain their identity in final products.
B)  Both become part of a final product.
C)  Both are unprocessed extractive products.
D)  ​Both are more expensive than major equipment.E) A) and B)
F) None of the above

Exam 7: Business Marketing

Discuss the importance of customer service in business marketing.

Correct AnswerverifiedAnswers will vary.Business marketers are...View AnswerShow Answer

Fluctuating demand is the demand for two or more items used together in a final product.

Correct AnswerverifiedShow Answer

Leo buys 500 sheets of paper from a vendor for his printing firm.He is satisfied with the product,and he orders the same quantity from the same vendor every week.This is most likely an example of a(n) _____.

Correct AnswerverifiedShow Answer

Explain the distribution structure followed in business markets.

Correct AnswerverifiedAnswers will vary.Many consumer products...View AnswerShow 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 raw materials used as business products?

Correct AnswerverifiedShow Answer

Which of the following is a difference between supplies and business services?

Correct AnswerverifiedShow Answer

Unlike buyers in business markets,buyers in consumer markets tend to:

Correct AnswerverifiedShow Answer

_____ refers to the phenomenon in which a small increase or decrease in consumer demand can produce a much larger change in demand for the facilities and equipment needed to make the consumer product.

Correct AnswerverifiedShow Answer

Tamery Corp.is engaged in marketing various goods and services.It buys goods from various manufacturers and sells them to businesses and end consumers.Given this information,Tamery Corp.is said to be selling consumer products if:

Correct AnswerverifiedShow Answer

In the context of business products,major equipment:

Correct AnswerverifiedShow Answer

The segment of the business market that seeks to achieve goals other than the standard business goals of profit,market share,and return on investment consists of _____.

Correct AnswerverifiedShow Answer

In the context of categories of business customers,describe the role of resellers.

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

Which of the following characteristics distinguishes business products from consumer products?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The goal of business-to-business exchanges is to simplify business purchasing and to make it more efficient.

Correct AnswerverifiedShow Answer

_____ are goods,such as portable drills and computer software,which are less expensive and shorter-lived than installations.

Correct AnswerverifiedShow Answer

In a buying center,the person who has the formal or informal power to choose or approve the selection of a supplier or brand is known as the _____.

Correct AnswerverifiedShow Answer

The more digits in a North American Industry Classification System code,the less homogeneous a group will be.

Correct AnswerverifiedShow Answer

Which of the following is a similarity between raw materials and component parts?

Correct AnswerverifiedShow Answer

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Answers will vary.Business marketers are...
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Answers will vary.Many consumer products...
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Answers will vary.The reseller market in...
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