Question 1

The primary buying objective for business firms is usually to

Accepted Answer

A)  increase profits through increasing costs and increasing revenues.
B)  increase profits through reducing costs and decreasing revenues.
C)  increase profits through reducing costs or increasing revenues.
D)  maintain profits through reducing costs and increasing revenues.
E)  reduce profits through reducing costs and reducing revenues.F) B) and C)
G) C) and D)

Question 2

The decision-making process that organizations use to establish the need for products and services and identify,evaluate,and choose among alternative brands and suppliers is referred to as

Accepted Answer

A)  the consumer purchase decision process.
B)  organizational buying behavior.
C)  the industrial purchase procedure.
D)  the offering purchase framework.
E)  the sustainable procurement process.F) All of the above
G) A) and D)

Question 3

European Style Furniture (ESF) ,headquartered in New York,acquires fine furniture from several high quality manufacturers in Europe and enjoys exclusive distribution rights from them to sell to furniture stores throughout the U.S.In this context,ESF is most accurately classified as a

Accepted Answer

A)  producer.
B)  reseller.
C)  service provider.
D)  retailer.
E)  industrial firm.F) D) and E)
G) B) and C)

Question 4

The North American Industry Classification System (NAICS) system designates industries with a numerical code in a defined structure.A six-digit coding system is used.The sixth digit designates a(n)

Accepted Answer

A)  industry subsector.
B)  industry group.
C)  specific industry.
D)  individual country-level national industry.
E)  sector of the economy.F) C) and E)
G) A) and E)

Question 5

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) All of the above
G) None of the above

Question 6

To be a Walmart supplier,a firm must be able to deliver its products to Walmart distribution centers within a 15-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 a(n)

Accepted Answer

A)  supplier value dimension.
B)  derived demand factor.
C)  evaluative criterion.
D)  external performance measure.
E)  organizational buying criterion.F) A) and D)
G) D) and E)

Question 7

Online trading communities that bring together buyers and supplier organizations to make possible the real time exchange of information,money,products,and services are referred to as

Accepted Answer

A)  webfronts.
B)  iCommerce.
C)  e-commerce marketspaces.
D)  e-marketplaces.
E)  X-changes.F) A) and E)
G) A) and B)

Question 8

In terms of organizational buyers,Amazon.com,Lands' End,and JCPenney would all be generally classified as __________.

Accepted Answer

A)  government units
B)  resellers
C)  manufacturers
D)  wholesalers
E)  industrial firmsF) A) and D)
G) A) and C)

Question 9

June Golden is part of the buying center for a large manufacturer.Her field of expertise is logistics and she is responsible for choosing transportation providers for the company.A sales representative for Yellow Roadway (a very large trucking firm) regularly buys June's secretary lunch.The representative does this because she views the secretary as a(n) __________ and wants to be sure that information about her company reaches June.

Accepted Answer

A)  gatekeeper
B)  decider
C)  influencer
D)  obstructionist
E)  power-brokerF) A) and C)
G) A) and E)

Question 10

Several people often participate in the organizational buying process.Called a __________,these people share common goals,risks,and knowledge important to a purchase decision.

Accepted Answer

A)  buying center
B)  buying cohort
C)  sustainable procurement committee
D)  stakeholder group
E)  purchasing departmentF) A) and C)
G) A) and D)

Question 11

What is an important limitation of NAICS codes that inhibit their usefulness?

Accepted Answer

The NAICS has an important limitation.Si...

Question 12

Researchers who have studied organizational buying identify three types of buying situations,called __________,which include new buy,modified rebuy,and straight rebuy.

Accepted Answer

A)  purchase criteria
B)  buy classes
C)  buying centers
D)  consideration sets
E)  purchase hierarchiesF) D) and E)
G) B) and C)

Question 13

JCPMedia

Accepted Answer

A)  creates the in-store signage,point-of-purchase displays,and store atmospherics for JCPenney.
B)  is an in-house advertising agency for JCPenney.
C)  is the print and paper purchasing arm of JCPenney.
D)  is the website developer who created JCPenney's Facebook presence.
E)  buys the media space to run TV ads and print ads for JCPenney.F) A) and D)
G) B) and C)

Question 14

Which of the following characterizes organizational buyer-seller relationships?

Accepted Answer

A)  Purchases are often made after brief negotiations if any.
B)  Supply partnerships may eventually develop.
C)  Short-term contracts are often prevalent.
D)  Reciprocal arrangements provide the most flexibility to buyer and seller.
E)  Delivery schedules are less important than production capacity.F) D) and E)
G) A) and C)

Question 15

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 biddingF) A) and E)
G) B) and D)

Question 16

Keystone Foods,which invented the individual quick freeze process for beef,provides McDonald's with millions of pounds of chicken,beef,and fish annually for use in its restaurants.The firm sources the animal proteins from farms and processes them in a variety of ways,such as breading or freezing,before selling them.Keystone is operating in a(n) __________ market.

Accepted Answer

A)  consumer
B)  government
C)  industrial
D)  service
E)  resellerF) D) and E)
G) B) and D)

Question 17

There are seven commonly used organizational buying criteria.One of them is __________.

Accepted Answer

A)  adherence to governmental policies
B)  regulatory support
C)  past performance on previous contracts
D)  consumer demand
E)  senior management directivesF) B) and C)
G) D) and E)

Question 18

Another name for an e-marketplace is a(n)

Accepted Answer

A)  e-hub.
B)  E-place.
C)  e-trade.
D)  E-xchange.
E)  4NXchange.F) None of the above
G) A) and E)

Question 19

The marketing of products and services to companies,governments,or not-for-profit organizations for use in the creation of goods and services that they can produce and market to others,is referred to as __________.

Accepted Answer

A)  integrated marketing
B)  institutional marketing
C)  business marketing
D)  reseller marketing
E)  organizational marketingF) A) and C)
G) A) and D)

Question 20

Business marketing refers to

Accepted Answer

A)  the marketing of products to companies,governments,or ultimate consumers for use in the creation of goods and services.
B)  the marketing of products and services to not-for-profit organizations at a reduced fee or nominal cost for use in the creation of goods and services that they can produce and market to others.
C)  the marketing of products and services to companies,governments,or not-for-profit organizations for use in the creation of goods and services that they can produce and market to others.
D)  the marketing of services in the area of intellectual property such as legal,financial,or creative consulting.
E)  the marketing of an idea to create interest or generate goodwill,not just for an individual brand but also for an entire industry or product class.F) A) and E)
G) C) and D)

Exam 5: Understanding Organizations As Customers

Correct Answer
verified

Which of the following characterizes organizational buyer-seller relationships?

Correct Answer
verified

What is an important limitation of NAICS codes that inhibit their usefulness?

Correct Answer
verified
The NAICS has an important limitation.Si...
View Answer

Several people often participate in the organizational buying process.Called a __________,these people share common goals,risks,and knowledge important to a purchase decision.

Correct Answer
verified

The decision-making process that organizations use to establish the need for products and services and identify,evaluate,and choose among alternative brands and suppliers is referred to as

Correct Answer
verified

Researchers who have studied organizational buying identify three types of buying situations,called __________,which include new buy,modified rebuy,and straight rebuy.

Correct Answer
verified

Another name for an e-marketplace is a(n)

Correct Answer
verified

The reseller market includes

Correct Answer
verified

The marketing of products and services to companies,governments,or not-for-profit organizations for use in the creation of goods and services that they can produce and market to others,is referred to as __________.

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

There are seven commonly used organizational buying criteria.One of them is __________.

Correct Answer
verified

Online trading communities that bring together buyers and supplier organizations to make possible the real time exchange of information,money,products,and services are referred to as

Correct Answer
verified

JCPMedia

Correct Answer
verified

In terms of organizational buyers,Amazon.com,Lands' End,and JCPenney would all be generally classified as __________.

Correct Answer
verified

European Style Furniture (ESF) ,headquartered in New York,acquires fine furniture from several high quality manufacturers in Europe and enjoys exclusive distribution rights from them to sell to furniture stores throughout the U.S.In this context,ESF is most accurately classified as a

Correct Answer
verified

The North American Industry Classification System (NAICS) system designates industries with a numerical code in a defined structure.A six-digit coding system is used.The sixth digit designates a(n)

Correct Answer
verified

The primary buying objective for business firms is usually to

Correct Answer
verified

Business marketing refers to

Correct Answer
verified

Correct Answer
verified

Exam 5: Understanding Organizations As Customers

Correct AnswerverifiedShow Answer

Which of the following characterizes organizational buyer-seller relationships?

Correct AnswerverifiedShow Answer

What is an important limitation of NAICS codes that inhibit their usefulness?

Correct AnswerverifiedThe NAICS has an important limitation.Si...View AnswerShow Answer

Several people often participate in the organizational buying process.Called a __________,these people share common goals,risks,and knowledge important to a purchase decision.

Correct AnswerverifiedShow Answer

The decision-making process that organizations use to establish the need for products and services and identify,evaluate,and choose among alternative brands and suppliers is referred to as

Correct AnswerverifiedShow Answer

Researchers who have studied organizational buying identify three types of buying situations,called __________,which include new buy,modified rebuy,and straight rebuy.

Correct AnswerverifiedShow Answer

Another name for an e-marketplace is a(n)

Correct AnswerverifiedShow Answer

The reseller market includes

Correct AnswerverifiedShow Answer

The marketing of products and services to companies,governments,or not-for-profit organizations for use in the creation of goods and services that they can produce and market to others,is referred to as __________.

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

There are seven commonly used organizational buying criteria.One of them is __________.

Correct AnswerverifiedShow Answer

Online trading communities that bring together buyers and supplier organizations to make possible the real time exchange of information,money,products,and services are referred to as

Correct AnswerverifiedShow Answer

JCPMedia

Correct AnswerverifiedShow Answer

In terms of organizational buyers,Amazon.com,Lands' End,and JCPenney would all be generally classified as __________.

Correct AnswerverifiedShow Answer

European Style Furniture (ESF) ,headquartered in New York,acquires fine furniture from several high quality manufacturers in Europe and enjoys exclusive distribution rights from them to sell to furniture stores throughout the U.S.In this context,ESF is most accurately classified as a

Correct AnswerverifiedShow Answer

The North American Industry Classification System (NAICS) system designates industries with a numerical code in a defined structure.A six-digit coding system is used.The sixth digit designates a(n)

Correct AnswerverifiedShow Answer

The primary buying objective for business firms is usually to

Correct AnswerverifiedShow Answer

Business marketing refers to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The NAICS has an important limitation.Si...
View Answer

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verified

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