Question 1. Question : The ________ market consists of schools, hospitals, nursing homes, prisons, and other institutions that must provide goods and services to people in their care. Student Answer: vertical nonprofit spot secondary business institutional Question 2. Question : Business buyers are ultimately purchasing solutions to two problems: the organization’s economic and strategic problem and ________. Student Answer: their own personal need for individual achievement and reward the community’s continued health and well-being the fulfillment of the company’s social impact goals to maximize overall firm performance none of the above Question 3. Question : With ________ as a target market strategy, the firm concentrates on serving many needs of a particular customer group. Student Answer: single-segment concentration selective specialization product specialization market specialization full market coverage Question 4. Question : In order to successfully develop customer reference stories, firms should ________. Student Answer: state the customer’s needs in compelling terms use very few direct customer quotes avoid referencing the barriers to satisfying customer needs describe the company’s solution in terms of products and services focus on qualitative results Question 5. Question : Many business buyers prefer to buy a total solution to a problem from one seller. ________ is the correct term for this process. Student Answer: Channel consolidation Systems buying Vertical buying Horizontal buying Supply buying Question 6. Question : Research has found that buyer-suppler relationships differed according to four factors. Which of the following would NOT be among those factors? Student Answer: Importance of supply Complexity of supply Availability of alternatives Supply market dynamism Demand market conservatism Question 7. Question : In the past, what position did purchasing departments hold in the management hierarchy of most organizations? Student Answer: A high level because of their role in managing the company’s costs A moderate level because of their spotty record on controlling costs A low level despite managing more than half of the company’s costs A secretive position There has been no determination of this position. Question 8. Question : 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. Student Answer: business market consumer market e-commerce market global market supplier market Question 9. Question : In the proposal solicitation process, ________ should be marketing documents that describe value and benefits in customer terms. Student Answer: written proposals oral proposals e-proposals alliance proposals global proposals Question 10. Question : ________ is a key industrial marketing strategy in bidding to build large-scale industrial products (e.g., dams, pipelines, et cetera). Student Answer: Systems contracting Systems buying Systems selling Solutions buying Turnkey
Question
1.
Question : The ________ market consists of schools, hospitals, nursing homes,
prisons, and other institutions that must provide goods and services to people
in their care.
Student
Answer: vertical
nonprofit
spot
secondary
business
institutional
Question
2. Question : Business buyers are ultimately purchasing solutions to two
problems: the organization’s economic and strategic problem and ________.
Student
Answer: their own personal need for individual achievement and reward
the
community’s continued health and well-being
the
fulfillment of the company’s social impact goals
to
maximize overall firm performance
none
of the above
Question
3. Question : With ________ as a target market strategy, the firm concentrates
on serving many needs of a particular customer group.
Student
Answer: single-segment concentration
selective
specialization
product
specialization
market
specialization
full
market coverage
Question
4. Question : In order to successfully develop customer reference stories,
firms should ________.
Student
Answer: state the customer’s needs in compelling terms
use
very few direct customer quotes
avoid
referencing the barriers to satisfying customer needs
describe
the company’s solution in terms of products and services
focus
on qualitative results
Question
5. Question : Many business buyers prefer to buy a total solution to a problem
from one seller. ________ is the correct term for this process.
Student
Answer: Channel consolidation
Systems
buying
Vertical
buying
Horizontal
buying
Supply
buying
Question
6. Question : Research has found that buyer-suppler relationships differed
according to four factors. Which of the following would NOT be among those
factors?
Student
Answer: Importance of supply
Complexity
of supply
Availability
of alternatives
Supply
market dynamism
Demand
market conservatism
Question
7. Question : In the past, what position did purchasing departments hold in the
management hierarchy of most organizations?
Student
Answer: A high level because of their role in managing the company’s costs
A
moderate level because of their spotty record on controlling costs
A
low level despite managing more than half of the company’s costs
A
secretive position
There
has been no determination of this position.
Question
8. Question : 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.
Student
Answer: business market
consumer
market
e-commerce
market
global
market
supplier
market
Question
9. Question : In the proposal solicitation process, ________ should be
marketing documents that describe value and benefits in customer terms.
Student
Answer: written proposals
oral
proposals
e-proposals
alliance
proposals
global
proposals
Question
10. Question : ________ is a key industrial marketing strategy in bidding to
build large-scale industrial products (e.g., dams, pipelines, et cetera).
Student
Answer: Systems contracting
Systems
buying
Systems
selling
Solutions
buying
Turnkey
logistics
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