MKT 301-Business-to-business marketing refers to buying

29 Jun MKT 301-Business-to-business marketing refers to buying

Question
1. Business-to-business marketing refers to buying and selling goods or services by three of the following.

Which of the following does notbuy and sell goods in business-to-business marketing?

A. Retailers

B. Manufacturers

C. Wholesalers

D. Consumers

2. Originally, offshoring focused on relocating _______ to lower-cost producer countries.

A. manufacturing

B. countertrade

C. services

D. franchising

3. Jennifer’s spending decisions are heavily influenced by her family, her peers, and the beliefs and values

she was exposed to in her religious education. Jennifer’s spending decisions are heavily influenced by her

A. physiological needs.

B. assessment of psychological risk.

C. external social environment.

D. cognitive needs.

4. Rick knows his company’s electronic components sales depend on sales of new cars. Rick’s company

faces _______ demand.

A. autocratic

B. synthetic

C. situational

D. derived

5. GDPis defined as

A. greater domestic product.

B. the value of a country’s annual exports minus its imports.

C. national annual income minus national annual taxes.

D. the market value of goods and services produced in a country in a year.

6. Which of the following is a B2B buying situation in which the decision is likely to be the mostcomplex

and take the longestto complete?

A. A new buy

B. An internally-structured rebuy

C. A straight rebuy

D. A modified rebuy

7. Abraham Maslow identified five sets of motives that have become an essential part of marketing.

Maslow’s Hierarchy of Needs includes physiological needs at the lowest level and self-actualization at the

top. The three levels in between are

A. safety, love, and esteem.

B. threat avoidance, stability, and striving.

C. community, family, and self.

D. material goods, safety, and love.

8. Manufacturers would prefer to produce in a country with a trade _______, because it signals a greater

opportunity to export products to more markets.

A. deficit.

B. balance.

C. surplus.

D. culture.

9. When considering _______, a firm should consider how economic development affects the attributes of

a product, how it might standardize the product, and the needs of the target market.

A. the establishment of a joint venture

B. cultural adaptation

C. its international marketing return on investment (IMROI)

D. global product strategies

10. After need recognition, a business often considers alternatives and comes up with _______ that

suppliers might use to develop their proposals to supply the product.

A. democratic ideals

B. product specifications

C. derived demand

D. initiator instructions

11. The consumer buying process begins when

A. performance risk is minimized.

B. consumers enter a store.

C. functional needs are greater than psychological needs.

D. consumers recognize that they have an unsatisfied need.

12. In the consumer decision process, deciding how long and how much effort to expend searching for

information depends on

A. habitual decision making that most influences the alternative evaluation process.

B. the postpurchase anxiety associated with the product or service being considered.

C. the degree of perceived risk associated with the product or service being considered.

D. the cultural reference group that most influences the alternative evaluation process.

13. The processes by which goods, services, capital, people, information, and ideas flow across national

borders is known as

A. standardization.

B. advertising.

C. marketing.

D. globalization.

14. When entering a foreign market, the leastrisky strategy is

A. exporting.

B. joint venture.

C. direct investment.

D. franchising.

15. When Brandon decided he needed a new car, he immediately called his old college roommate, who

owns a BMW dealership, to ask questions about options and financing. Brandon was searching for

information from a(n)

A. external source.

B. internal source.

C. decision heuristics establishment.

D. internal locus of control.

16. Unlike a firm’s mission statement or employee handbook, a firm’s culture often

A. forces customers to look elsewhere for value.

B. is defined by a straight rebuy philosophy.

C. comprises a set of unspoken guidelines.

D. is captured in NAICS classification.

17. The Big Mac Index is a novel measure of

A. per capita GNI.

B. purchasing power parity.

C. GDP.

D. economic appetite.

18. Changes in _______ have been the driving force for growth in global markets for decades.

A. technology

B. human development

C. trading blocs

D. taxation

19. In mostcases, countries use tariffs to reduce foreign competition, but tariffs are also used

A. to shorten supply chains.

B. to stimulate consumer demand.

C. as a response to perceived unfair trade practices.

D. to offer domestic discounts.

20. Consumers frequently use the Internet during the _______ stage of the consumer decision process.

A. information search

B. postpurchase evaluation

C. situational factor analysis

D. need recognition

21. For marketers, negative attitudes are typically difficult to change because

A. consumers weigh performance risk against functional needs when assessing their attitudes.

B. attitudes shift consumers from limited to extended problem-solving situations.

C. most consumers’ attitudes depend on prices.

D. attitudes are learned and long lasting.

22. A _______ sets a limit on the amount of an imported item that can enter a country in a time period.

A. boycott

B. tariff

C. duty

D. quota

23. Melissa is the director of human resources, but she’s known throughout the firm as being one of the

first to hear about and use new kinds of communications technologies. When the firm wants to upgrade its

communications with vendors through a private exchange, Melissa will probably function in what role in the

firm’s buying center?

A. Decider

B. Influencer

C. User

D. Initiator

24. Of the five strategies for entering new markets, direct investment creates the

A. greatest potential risk.

B. least investment cost.

C. most franchisee control.

D. opportunity for strong strategic alliances.

25. In general, the _______ the wealth of people in a country, the better the opportunity a firm has in that

particular country.

End of exam

A. more diverse

B. greater

C. more equal

D. less stable