Question 1

NAICS Logo
-acronym of the NAICS logo above stands for

Accepted Answer

A)   National Association of Industrial Compliance Standards.
B)   National Association of Industrial Communication Systems.
C)   North American Industrial Computer Standards.
D)   North American Industry Classification System.
E)   North Atlantic Industrial Classification System.F) A) and B)
G) C) and E)

Question 2

Explain the differences between independent e-marketplaces and private exchanges.

Accepted Answer

Both are forms of e-marketplaces.Indepen...

Question 3

Marketers who want to increase their chances of selling products and services to organizations must understand its needs,get on its bidder's list,find the right people in its buying center,and ultimately

Accepted Answer

A)   provide value to organizational buyers.
B)   adapt the product or service to offer the lowest price possible.
C)   beat out all other possible vendors.
D)   sign a binding contract that prohibits changes to the product, time line, or quantities ordered.
E)   establish an e-marketplace to conduct both traditional and reverse auctions.F) A) and D)
G) B) and E)

Question 4

Which of the following statements accurately characterizes buying behavior in organizational markets?

Accepted Answer

A)   Organizational buying behavior is similar to consumer buying behavior since individuals are involved in both processes.
B)   Demand for industrial products is elastic instead of inelastic or derived because companies, not ultimate consumers, determine the quantity of goods produced.
C)   Fewer customers typically exist in organizational markets than in consumer markets.
D)   Purchase orders much more frequent but they are usually small.
E)   Forecasting is not as important in organizational buying as in consumer buying.F) B) and E)
G) A) and B)

Question 5

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) C) and D)
G) D) and E)

Question 6

a buying center,__________ affect the buying decision,usually by helping define the specifications for what is bought.

Accepted Answer

A)   gatekeepers
B)   deciders
C)   buyers
D)   influencers
E)   usersF) B) and C)
G) C) and D)

Question 7

is the predominant person-to-person trading community in the world.The eBay Business website is an example of a(n)

Accepted Answer

A)   Webfront operation.
B)   clicks-and-mortar store.
C)   e-marketplace.
D)   noncompetitive market.
E)   integrated market.F) A) and B)
G) B) and C)

Question 8

study on ethical practices in purchasing found that smaller firms frequently make agreements with other organizations to purchase each other's products and services.This practice is referred to as

Accepted Answer

A)   exclusive dealing.
B)   supply partnerships.
C)   reciprocity.
D)   strategic alliances.
E)   tying arrangements.F) B) and D)
G) A) and B)

Question 9

High Frozen Foods is a distributor for McDonalds.It also bakes the buns used by McDonalds in several states.It purchases flour,yeast,and sesame seeds,manufactures the buns,and then ships them to McDonalds' stores.Mile High Frozen Foods is operating in a(n) __________ market.

Accepted Answer

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

Question 10

might a marketing manager for a manufacturer of turboprop engines,used in private jet planes,use the NAICS to help her with marketing planning?

Accepted Answer

A)   Record the NAICS numbers for each of her firm's best customers and then obtain lists of companies with the same NAICS numbers.
B)   Go to a library and find the NAICS numbers for all government units-federal, state, and local.
C)   Identify all NAICS numbers that reflect the classifications of her firm's customers and compare them to previous SIC codes.
D)   Poll her field sales organization to see if her company's sales representatives know what NAICS numbers mean.
E)   Forgo using the NAICS system because it is a dated concept that has no current usefulness.F) A) and E)
G) A) and B)

Question 11

Figure 6-6b
-shown in Figure 6-6b above,what type of online auction do one buyer and many sellers typify?

Accepted Answer

A)   forward auction.
B)   reverse auction.
C)   traditional auction.
D)   vertical auction.
E)   bidder's war.F) A) and B)
G) B) and E)

Question 12

Purchases of sodium fluoride by Procter & Gamble for use in the manufacture of Crest toothpaste would be an example of __________ demand.

Accepted Answer

A)   applied
B)   unitized
C)   industrial
D)   derived
E)   consumerF) B) and E)
G) D) and E)

Question 13

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 fourth 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 D)
G) A) and B)

Question 14

Spruceland Millworks in Canada makes wooden pallets for transporting and storing new appliances such as stoves,freezers,and refrigerators.The demand for Spruceland pallets would be classified as

Accepted Answer

A)   reactive demand, which is tied to the sales of appliances, not the sale of the pallets.
B)   derived demand, which is tied to the sales of appliances, but independent of the sales of pallets.
C)   derived demand, which is tied to the sales of pallets, which in turn, is tied to the sales of appliances.
D)   inelastic demand, which is tied to the cost of the components of the pallets.
E)   elastic demand, which is tied to the cost of the components of the pallets.F) A) and C)
G) C) and E)

Question 15

Mining companies,farms,financial services,and fisheries are all examples of

Accepted Answer

A)   consumer markets.
B)   cooperative markets.
C)   reseller markets.
D)   industrial markets.
E)   government markets.F) A) and B)
G) C) and D)

Question 16

Describe the three types of organizational markets and give examples of each.

Accepted Answer

There are three types of organizational ...

Question 17

which point of the organizational buying decision process would a firm use a formal vendor rating system to evaluate the quality of the vendor's product and customer service?

Accepted Answer

A)   problem recognition
B)   information search
C)   purchase decision
D)   postpurchase behavior
E)   performance reviewF) C) and E)
G) B) and D)

Question 18

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) All of the above
G) B) and E)

Question 19

which stage of the organizational buying decision process would a firm clarify its organizational buying criteria and select a supplier?

Accepted Answer

A)   problem recognition
B)   information search
C)   purchase decision
D)   purchase review
E)   alternative evaluationF) A) and E)
G) A) and B)

Question 20

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

Accepted Answer

A)   consumer demand
B)   flexibility and adaptability
C)   promotional incentives
D)   technical capability
E)   senior management directivesF) All of the above
G) A) and C)

Exam 6: Understanding Organizations As Customers

might a marketing manager for a manufacturer of turboprop engines,used in private jet planes,use the NAICS to help her with marketing planning?

Correct AnswerverifiedShow Answer

a buying center,__________ affect the buying decision,usually by helping define the specifications for what is bought.

Correct AnswerverifiedShow Answer

Figure 6-6b -shown in Figure 6-6b above,what type of online auction do one buyer and many sellers typify?

Correct AnswerverifiedShow Answer

JCPMedia

Correct AnswerverifiedShow Answer

Explain the differences between independent e-marketplaces and private exchanges.

Correct AnswerverifiedBoth are forms of e-marketplaces.Indepen...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

is the predominant person-to-person trading community in the world.The eBay Business website is an example of a(n)

Correct AnswerverifiedShow Answer

Purchases of sodium fluoride by Procter & Gamble for use in the manufacture of Crest toothpaste would be an example of __________ demand.

Correct AnswerverifiedShow Answer

Spruceland Millworks in Canada makes wooden pallets for transporting and storing new appliances such as stoves,freezers,and refrigerators.The demand for Spruceland pallets would be classified as

Correct AnswerverifiedShow Answer

which stage of the organizational buying decision process would a firm clarify its organizational buying criteria and select a supplier?

Correct AnswerverifiedShow Answer

Marketers who want to increase their chances of selling products and services to organizations must understand its needs,get on its bidder's list,find the right people in its buying center,and ultimately

Correct AnswerverifiedShow Answer

High Frozen Foods is a distributor for McDonalds.It also bakes the buns used by McDonalds in several states.It purchases flour,yeast,and sesame seeds,manufactures the buns,and then ships them to McDonalds' stores.Mile High Frozen Foods is operating in a(n) __________ market.

Correct AnswerverifiedShow Answer

study on ethical practices in purchasing found that smaller firms frequently make agreements with other organizations to purchase each other's products and services.This practice is referred to as

Correct AnswerverifiedShow Answer

Which of the following statements accurately characterizes buying behavior in organizational markets?

Correct AnswerverifiedShow Answer

Describe the three types of organizational markets and give examples of each.

Correct AnswerverifiedThere are three types of organizational ...View AnswerShow Answer

Mining companies,farms,financial services,and fisheries are all examples of

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

which point of the organizational buying decision process would a firm use a formal vendor rating system to evaluate the quality of the vendor's product and customer service?

Correct AnswerverifiedShow Answer

NAICS Logo -acronym of the NAICS logo above stands for

Correct AnswerverifiedShow Answer

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 fourth digit designates a(n)

Correct AnswerverifiedShow Answer

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Both are forms of e-marketplaces.Indepen...
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There are three types of organizational ...
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