Marketing Questions quiz

Analyzing Business Markets

GENERAL CONCEPT QUESTIONS

Multiple Choice

1. To create and capture value, sellers need to understand business organizations’ needs, resources, policies, and ________.

a. demands

b. protocols

c. strategies

d. buying procedures

e. personnel policies

2. Webster and Wind define ________ as the decision-making process by which formal organizations establish the need for purchased products and services and identify, evaluate, and choose among alternative brands and suppliers.

a. marketing channels

b. organizational buying

c. demand-oriented buying

d. purchasing

e. inventory control

3. The ________ consists of all the organizations that acquire goods and services used in the production of other products or services that are sold, rented, or supplied to others.

a. business market

b. consumer market

c. e-commerce market

d. global market

e. supplier market

4. Business markets have several characteristics that contrast sharply with those of consumer markets. All of the following would be among those characteristics EXCEPT ________.

a. fewer, larger buyers

b. close supplier-customer relationship

c. professional purchasing

d. inverted demand

e. multiple sales calls

5. All of the following would be among the major industries that make up the business market EXCEPT ________.

a. agriculture, forestry, and fisheries

b. manufacturing

c. construction

d. banking, finance, and insurance

e. the Internet

6. Trained purchasing agents, who must follow their organization’s ________, often purchase business goods.

a. culture

b. past purchasing history

c. purchasing policies, constraints, and requirements

d. needs

e. financial budgets

7. Ultimately, the amount of steel sold to General Motors depends on the consumer’s demand for GM cars and trucks. From the standpoint of the steel manufacturer, which of the following demand forms is most pertinent?

a. Derived demand

b. Inelastic demand

c. Geographic demand

d. Relational demand

e. Static demand

 

8. The demand for business goods is ultimately derived from the demand for ________.

a. raw materials

b. consumer goods

c. electronics

d. business solutions

e. e-commerce

9. The business buyer faces many decisions in making a purchase. The number of decisions depends on the buying situation. All of the following examples are appropriate to the preceding EXCEPT ________.

a. complexity of the problem being solved

b. newness of the buying requirement

c. number of people involved

d. applicability of situation to mission statement

e. time required

10. The purchasing department buys office supplies on a routine basis. This type of purchase is classified as a ________.

a. straight rebuy

b. modified rebuy

c. new task

d. secondary purchase

e. preordained purchase

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