Question 1

The single largest buyer of goods and services in the world is ____________.

Accepted Answer

A)   General Electric
B)   Wal-Mart
C)   United States Government
D)   Russian Government
E)   None of the above

Question 2

B2B is strategically important to companies like Bright House Networks in that it offers _____ average revenue per user than B2C.

Accepted Answer

A)   Lower
B)   Higher
C)   The same
D)   Uneven
E)   Symmetrical

Question 3

Business markets tend to concentrate in certain locations in the United States as a result of suppliers wanting to be located close to one another.

Accepted Answer

A) True 
 B)False

Question 4

In the buying process the "user" is characterized as __________________.

Accepted Answer

A)   The actual consumer of the product
B)   The actual leader of the buying group
C)   The actual evaluator of the product
D)   The consultant to the buying group
E)   None of the above

Question 5

You decided to open a sports bar with your best friend and are now trying to decide between two suppliers.What do you consider when making your final decision?

Accepted Answer

The most fundamental criterion in vendor...

Question 6

When making a product selection as part of the business market purchase decision process, what three primary criteria are used to make a decision?

Accepted Answer

● Financial criteria...

Question 7

Kiran runs Power3, a specialized battery manufacturer.His biggest account is an international digital camera manufacturing company.Kiran would like to increase sales and believes that if he lowers the price of his lithium batteries he will receive larger orders from the digital camera manufacturer.What would you tell Kiran about the demand for his product?

Accepted Answer

● The demand for Kiran's batte...

Question 8

When a marketing company responds to an RFP, _____________.

Accepted Answer

A)   It presents clearly how the marketing company's products will meet the product specifications detailed in the RFP.
B)   It makes a case for selecting the marketing company by presenting any additional information such as unique product features it possesses.
C)   It succinctly presents the superior service of the marketing company.
D)   All of the above
E)   None of the above

Question 9

Problem recognition for the business market consumer is triggered by ________.

Accepted Answer

A)   Running out of stock
B)   Seeing a new product on television
C)   Someone inside or outside the company identifies a need
D)   All of the above
E)   None of the above

Question 10

Many manufacturers, such as Sharp Electronics, focus on the B2C market but have a significant level of sales in:

Accepted Answer

A)   The music market
B)   The supply chain market
C)   The quick sale market
D)   The B2B market
E)   None of the above

Question 11

It is often the case that the purchase decision itself in the B2B market involves trade-offs between equally important evaluation criteria and equally qualified vendors.

Accepted Answer

A) True 
 B)False

Question 12

Companies like Home Depot do business in the B2B market and B2C market out of the same store.This puts them in the category of businesses called _________.

Accepted Answer

A)   Mixed use enterprise
B)   Resellers
C)   Value added enterprise
D)   Retail merchandiser
E)   End sellers

Question 13

B2C markets can be characterized as being more ________ than B2B markets.

Accepted Answer

A)   Conservative
B)   Liberal
C)   Impersonal
D)   Personable
E)   Likeable

Question 14

A characteristic of B2B companies is that they often make products that end up as ___________ in a finished product.

Accepted Answer

A)   components
B)   labels
C)   minor features
D)   major features
E)   factoids

Question 15

Southwest Airlines is a good example of the concept of service criteria because ______.

Accepted Answer

A)   It flies a variety of planes made by only Boeing
B)   It minimize service costs by having untrained employees performing routine maintenance
C)   Its service terminals are in low cost parts of the country
D)   It flies only Boeing 737's so maintenance crews need to know only one plane.
E)   None of the above

Question 16

There are at least two methods to build a list of potential suppliers once product specifications have been outlined.One of the methods is to use the cumulative experience of the company over time.The second method is _______.

Accepted Answer

A)   Buying a list from a list broker
B)   Use supplier search websites like Thomas Global Register
C)   Ask all sales people to respond to the RFP
D)   Create a list from the Yellow Pages
E)   Go to several trade shows and find suitable suppliers

Question 17

Any influence on the product and supplier choice is an organizational factor.The primary organizational factor is _________.

Accepted Answer

A)   Needs and desires of those involved
B)   Opportunity for promotion of the buying center manager
C)   Product specifications
D)   Financial considerations
E)   Risk tolerance

Question 18

Resellers are important to marketers because ______________.

Accepted Answer

A)   They have their own buying centers that service customers
B)   They buy equipment and supplies to run their own business
C)   They serve as an early warning system to OEM's
D)   All of the above
E)   None of the above

Question 19

The process of business purchasing on-line is called _____________.

Accepted Answer

A)   Fast procurement
B)   Channel management
C)   E-procurement
D)   Team procurement
E)   Effective procurement

Question 20

Derek Barber is working on selling some defense equipment to Buccaneer Supply Company.After getting by the secretary, he decides to talk to people inside the firm to identify people that he considers to be important in the buying center process.The people he is targeting are known as __________.

Accepted Answer

A)   Influencers
B)   Users
C)   Gatekeepers
D)   Initiators
E)   Product engineers

Exam 8: Understanding Customers: Business to Business Markets

The process of business purchasing on-line is called _____________.

Correct Answer
verified

Many manufacturers, such as Sharp Electronics, focus on the B2C market but have a significant level of sales in:

Correct Answer
verified

B2B is strategically important to companies like Bright House Networks in that it offers _____ average revenue per user than B2C.

Correct Answer
verified

Problem recognition for the business market consumer is triggered by ________.

Correct Answer
verified

Correct Answer
verified
● The demand for Kiran's batte...
View Answer

There are at least two methods to build a list of potential suppliers once product specifications have been outlined.One of the methods is to use the cumulative experience of the company over time.The second method is _______.

Correct Answer
verified

You decided to open a sports bar with your best friend and are now trying to decide between two suppliers.What do you consider when making your final decision?

Correct Answer
verified
The most fundamental criterion in vendor...
View Answer

Business markets tend to concentrate in certain locations in the United States as a result of suppliers wanting to be located close to one another.

Correct Answer
verified

Resellers are important to marketers because ______________.

Correct Answer
verified

Any influence on the product and supplier choice is an organizational factor.The primary organizational factor is _________.

Correct Answer
verified

When a marketing company responds to an RFP, _____________.

Correct Answer
verified

It is often the case that the purchase decision itself in the B2B market involves trade-offs between equally important evaluation criteria and equally qualified vendors.

Correct Answer
verified

Derek Barber is working on selling some defense equipment to Buccaneer Supply Company.After getting by the secretary, he decides to talk to people inside the firm to identify people that he considers to be important in the buying center process.The people he is targeting are known as __________.

Correct Answer
verified

In the buying process the "user" is characterized as __________________.

Correct Answer
verified

B2C markets can be characterized as being more ________ than B2B markets.

Correct Answer
verified

Companies like Home Depot do business in the B2B market and B2C market out of the same store.This puts them in the category of businesses called _________.

Correct Answer
verified

When making a product selection as part of the business market purchase decision process, what three primary criteria are used to make a decision?

Correct Answer
verified
● Financial criteria...
View Answer

A characteristic of B2B companies is that they often make products that end up as ___________ in a finished product.

Correct Answer
verified

Southwest Airlines is a good example of the concept of service criteria because ______.

Correct Answer
verified

The single largest buyer of goods and services in the world is ____________.

Correct Answer
verified

Exam 8: Understanding Customers: Business to Business Markets

The process of business purchasing on-line is called _____________.

Correct AnswerverifiedShow Answer

Many manufacturers, such as Sharp Electronics, focus on the B2C market but have a significant level of sales in:

Correct AnswerverifiedShow Answer

B2B is strategically important to companies like Bright House Networks in that it offers _____ average revenue per user than B2C.

Correct AnswerverifiedShow Answer

Problem recognition for the business market consumer is triggered by ________.

Correct AnswerverifiedShow Answer

Correct Answerverified● The demand for Kiran's batte...View AnswerShow Answer

There are at least two methods to build a list of potential suppliers once product specifications have been outlined.One of the methods is to use the cumulative experience of the company over time.The second method is _______.

Correct AnswerverifiedShow Answer

You decided to open a sports bar with your best friend and are now trying to decide between two suppliers.What do you consider when making your final decision?

Correct AnswerverifiedThe most fundamental criterion in vendor...View AnswerShow Answer

Business markets tend to concentrate in certain locations in the United States as a result of suppliers wanting to be located close to one another.

Correct AnswerverifiedShow Answer

Resellers are important to marketers because ______________.

Correct AnswerverifiedShow Answer

Any influence on the product and supplier choice is an organizational factor.The primary organizational factor is _________.

Correct AnswerverifiedShow Answer

When a marketing company responds to an RFP, _____________.

Correct AnswerverifiedShow Answer

It is often the case that the purchase decision itself in the B2B market involves trade-offs between equally important evaluation criteria and equally qualified vendors.

Correct AnswerverifiedShow Answer

Derek Barber is working on selling some defense equipment to Buccaneer Supply Company.After getting by the secretary, he decides to talk to people inside the firm to identify people that he considers to be important in the buying center process.The people he is targeting are known as __________.

Correct AnswerverifiedShow Answer

In the buying process the "user" is characterized as __________________.

Correct AnswerverifiedShow Answer

B2C markets can be characterized as being more ________ than B2B markets.

Correct AnswerverifiedShow Answer

Companies like Home Depot do business in the B2B market and B2C market out of the same store.This puts them in the category of businesses called _________.

Correct AnswerverifiedShow Answer

When making a product selection as part of the business market purchase decision process, what three primary criteria are used to make a decision?

Correct Answerverified● Financial criteria...View AnswerShow Answer

A characteristic of B2B companies is that they often make products that end up as ___________ in a finished product.

Correct AnswerverifiedShow Answer

Southwest Airlines is a good example of the concept of service criteria because ______.

Correct AnswerverifiedShow Answer

The single largest buyer of goods and services in the world is ____________.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
● The demand for Kiran's batte...
View Answer

Correct Answer
verified

Correct Answer
verified
The most fundamental criterion in vendor...
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
verified

Correct Answer
verified
● Financial criteria...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified