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Marketing
Q:
NAICS data are helpful for analyzing, segmenting, and targeting markets. The system was developed by:
a. large manufacturers in United States and Mexico that produce similar goods
b. the North American Free Trade Agreement partners
c. Brazil, Chile, Argentina, Canada, and the United States working together in a joint venture
d. the SIC committee
e. the U.S. government
Q:
Imagine you are the research director of a major industrial marketing firm. You need to select an NAICS code that defines the most homogeneous group of companies in a particular group of highly competitive companies . Which of the following codes might you use?
a. 7432
b. 532
c. 19
d. 7
e. 999
Q:
The government uses a system called NAICS to classify North American business establishments. NAICS stands for:
a. Non-American Industry Classification System
b. North and South American Institutional Coding Services
c. Non-American Industrial Corporation System
d. North American Institution Code System
e. North American Industry Classification System
Q:
What would a U.S. company that manufactures the lighted signs used in amusement parks, at outdoor sports arenas, for restaurant promotion, and by state departments of transportation on the sides of roads use to facilitate its market segmentation and targeting if it wanted data that were readily available and usable?
a. a large amount of marketing research, including scanner data and focus groups
b. other competing firms as a strategic alliance referral service
c. government bidding processes
d. the North American Industry Classification System
e. derived demand
Q:
Organon Teknina sells inexpensive equipment to detect E.coli, listeria, or salmonella bacteria in food. The company serves not-for-profit institutions that need to regularly check food quality. Organon Teknina would be LEAST likely to sell to:
a. Montgomery County school system
b. a large pediatric hospital
c. a chain of Mexican restaurants
d. a chain of church-sponsored retirement homes
e. American Red Cross emergency shelter kitchens
Q:
Which of the following is the BEST example of an institution market?
a. The Government
b. eBay
c. Claire's Boutique
d. United Methodist church
e. Starbucks
Q:
One segment of the business market has primary goals that differ from the ordinary business goals such as profit, market share, or return on investment. This segment includes many schools, churches, and civic clubs and is often called the _____ market.
a. institution
b. OEM
c. service
d. provider
e. reseller
Q:
The U.S. government is:
a. not a business market segment
b. the world's largest single customer
c. an organization accounting for over 50 percent of the U.S. gross national product
d. mainly a military equipment purchaser
e. using one centralized purchasing office for the entire government
Q:
Hensley Poultry is a wholesaler that buys poultry food and health products from Provini, Inc., feeding systems from Big Dutchman, Inc. and incubation systems from Copca Corp. Hensley then sells those products to poultry producers and farmers' cooperatives in Iowa. Hensley Poultry could be best classified as a(n):
a. producer
b. distribution network
c. inventory carrier
d. specialty retailer
e. reseller
Q:
In the past 24 years, Mothers Work has grown from a small, mail-order catalog business headquartered inside the founder's home, to the world's largest seller of maternity apparel, with nearly 1,600 locations. In terms of the business market, Mothers Work would be best classified as a(n):
a. reseller
b. producer
c. distribution network
d. inventory carrier
e. business facilitator
Q:
Businesses that buy finished goods and sell and distribute them for a profit are called:
a. inventory carriers
b. producers
c. distribution networks
d. resellers
e. business facilitators
Q:
Caterpillar, the manufacturer of earthmoving equipment, uses completed drivetrains (engines-transmissions-axles), drivetrain components, electronic controls, hydraulic and electrohydraulic components and systems, cooling systems, and undercarriage track systems produced by other organizations in its manufacturing process. Caterpillar is an example of a(n):
a. fabricator
b. installer
c. original equipment manufacturer
d. product provider
e. component network
Q:
Southern Fireworks Manufacture Company in Liuyang, China provides fireworks for companies in America such as Premier Pyrotechnics in Richland, Missouri. This means that Southern is a (n):
a. installer of original materials
b. demand company
c. a reseller
d. government buyer
e. OEM
Q:
Corn refiners buy shelled corn and convert it into a variety of products, including high fructose corn syrup. The refiners then sell the syrup to soda and food product companies for use in foods and beverages. The corn refiners represent the _____ sector of the business market.
a. channel
b. reseller
c. producer
d. government
e. distributor
Q:
According to the text, another commonly used name for producers is:
a. fabricators
b. installers
c. original equipment manufacturers
d. product providers
e. component networks
Q:
A particular segment of the business market includes those individuals and organizations that purchase goods and services for the purpose of making a profit. They achieve this goal by using purchased goods and services to make other goods, to become part of other goods, or to facilitate the daily operations of the organization. This group is called the _____ segment of the business market.
a. institution
b. reseller
c. wholesaler
d. producer
e. government
Q:
Ed Rodney works for the state of Minnesota as a advocate of state growth and development. He devises ways to encourage businesses to relocate to the state. In other words, Rodney is involved in business marketing. He is compiling a list of potential businesses that might be willing to move their operations to Minnesota. Which of the following possible clients should he include in his list?
a. any family that takes an annual vacation
b. newlyweds
c. families that enjoy hiking
d. companies that have growing sales
e. students on spring break
Q:
A keiretsu is a(n):
a. type of strategic alliance commonly found in Japan
b. method of business e-commerce found in Asia
c. Internet site that offers its customers access to various languages that they can use to conduct their business
d. form of relationship marketing that is illegal in the United States
e. bribe
Q:
In Japan, reciprocity and personal relationships contribute to the development of:
a. global ventures
b. amae
c. agricola
d. keiretsu
e. an independent network of small retailers
Q:
DHL maintains a strategic alliance with UPS because it has confidence in UPS's reliability and integrity. This condition is referred to as:
a. trust
b. tomo
c. commitment
d. amae
e. reciprocity
Q:
Which of the following means that a firm believes that an ongoing relationship with some other firm is so important that it warrants maximum efforts at maintaining it indefinitely?
a. amae
b. trust
c. relationship quality
d. strategic alliance
e. relationship commitment
Q:
Sometimes a _____ is created for the purpose of sharing resources. This was why the Donnelly Corporation, a company that designs, manufactures, and markets automotive parts, joined with Applied Films Laboratory, Inc. to manufacture and supply the world market with display coated glass for liquid crystal displays (LCDs).
a. shared capital contract
b. global partner development strategy
c. strategic alliance
d. cobranding effort
e. market cooperative
Q:
IBM and Cisco work together to provide banks with the products and services they need to manage their multiple locations. In other words, the two companies have joined in a:
a. retail cooperative
b. direct investment venture
c. transactional relationship
d. strategic alliance
e. synergistic relationship
Q:
A cooperative agreement between business firms is a:
a. shared capital contract
b. global partner development strategy
c. strategic alliance
d. joint contract
e. comarketing effort
Q:
The reintroduction of an intermediary between producers and users is called:
a. disintermediation
b. reinstatement
c. selective retention
d. reestablishment
e. reintermediation
Q:
Before toll-free telephone numbers and the Internet were used as commercial tools, fliers usually purchased airline tickets from travel agents. Travel agents no longer receive a commission from the airlines for selling tickets to consumers. This is an example of:
a. reintermediation
b. disassociation
c. disintermediation
d. discrimination
e. transference
Q:
The elimination of intermediaries such as wholesalers or distributors from a marketing channel is referred to as:
a. disintermediation
b. disassociation
c. unencumberance
d. demarketing
e. selective retention
Q:
All of the following are current roles of the Internet in business marketing EXCEPT:
a. reduce costs
b. eliminate distributors
c. build partnerships and alliances
d. build and support branding
e. integrate online and traditional media
Q:
_____ is a measure of a Web site's effectiveness and is calculated by multiplying the frequency of visits times the duration of a visit times the number of pages viewed during each visit.
a. Effective reach
b. Effective frequency
c. Gross rating points
d. Interactiveness
e. Stickiness
Q:
Since GE began accepting bids via the Internet, the length of the bidding process in GE's lighting division has been reduced from 21 days to 10. Since requesting the bids is easier, purchasing agents approach more potential vendors. The ability to locate more vendors has lowered the cost of goods by 5 to 15 percent. GE's experience illustrates:
a. how using the Internet decreases competition
b. how business marketing is becoming global
c. how business marketing is using the Internet to become more efficient
d. how the use of the Internet has influenced consumer markets to become larger and more powerful than business markets
e. how the Internet increases efficiency in data exchange
Q:
The Solar Group, a Mississippi-based mailbox manufacturer, sells mailboxes to contractors who are building mega-subdivisions, to hardware stores, and directly to new homeowners. What kind of products is the Solar Group selling?
a. business products only
b. both business and consumer goods
c. installations
d. consumer goods only
e. supplies
Q:
Which of the following is the best example of a sale that could only take place in the business market?
a. A professor is purchasing a Mac to use at home
b. A music store owner is ordering the newest Elvis Ultimate Live collection DVD for her mother
c. A teen is purchasing ring tones to use on her phone
d. A librarian is purchasing new books for the school's library
e. All of these are examples of business sales
Q:
Business marketing does NOT include goods and services that:
a. become part of another product
b. are used to manufacture other products
c. are used for personal consumption
d. facilitate the normal operations of an organization
e. are acquired for resale
Q:
A product is defined as a business product rather than a consumer good on the basis of its:
a. intended use
b. physical characteristics
c. price
d. distribution method
e. tangible attributes
Q:
_____ is the marketing of goods and services to individuals and organizations for purposes other than personal consumption.
a. Secondary marketing
b. Interactive marketing
c. Business marketing
d. High-level marketing
e. Industrial marketing
Q:
If Ford purchased the same number of brakes from NUCAP on a regular basis, it would be participating in a straight rebuy.
Q:
Although customer service has in the past been an important factor in business buyer-seller relationships, its importance has been waning in the last decade.
Q:
The role of gatekeeper may be filled by a receptionist.
Q:
Because formal committees are often established to purchase business products, members of buying centers can be readily identified on formal organizational charts.
Q:
Consumable items that do not become part of the final product are called supplies.
Q:
Items that are ready for assembly and that retain their identities when incorporated into another product are called component parts.
Q:
Individual producers of raw materials have great flexibility in pricing their products.
Q:
Another commonly used term for accessory equipment is installations.
Q:
Most business marketers emphasize personal selling as their primary communications tool.
Q:
Unlike consumer product channels of distribution, which usually have one or more intermediaries, channels of distribution for business products are often direct.
Q:
While consumer and business markets differ in many ways, the volatility of demand for products is about the same for each type of market.
Q:
A decline in the availability of tungsten will slow production of light filaments, which will in turn reduce the demand for light bulbs. This is an example of fluctuating demand.
Q:
If DuPont runs advertisements encouraging people to buy clothing that contains Lycra (a DuPont product), this would be an attempt to influence secondary demand.
Q:
The first two digits of a NAICS code designate an industry group, such as fiber, yarn, and thread mills.
Q:
NAICS is an industry classification system used by most nations of the world.
Q:
The single largest customer in the world is the U.S. federal government.
Q:
The government sector (federal, state and local) is a minor segment of the business market
Q:
The reseller market is the same as the retailer market.
Q:
OEM stands for operationally efficient marketing.
Q:
Any firm that purchases goods and services to make a profit by using them to produce other goods is part of the producer segment of the business market.
Q:
A keiretsu is an example of how companies can develop into a network of interlocking corporate affiliates.
Q:
The Internet has eliminated the need for distributors.
Q:
The emergence of the Internet has made buying and selling in the business market a process that is only efficient for the largest producer to pursue.
Q:
For a product to be called a business product, it must be used to manufacture other products, become part of another product, or facilitate the normal operations of a firm.
Q:
Shimano sells the fishing and golfing equipment it manufactures to sporting goods stores, which in turn sell the equipment to anglers and golfers. Shimano is engaged in business marketing.
Q:
Why is customer service an important factor in business marketing?
Q:
Cascade Landscaping Service (CLS) has decided to purchase computer-assisted-design (CAD) software for landscape design. Describe the conditions under which each of the three business buying situations would take place.
Q:
Business buyers use a variety of criteria to evaluate alternative products and suppliers. Name and define specific aspects of the three most important criteria.
Q:
Assume you are the vice-president of marketing in a medium-sized company that includes the following departments: marketing, finance, purchasing, data processing, and production. The sales force manager has mentioned to you that one of the salespersons thought a Web-based salesforce automation service would help the sales force become more efficient. The sales manager requests that this service be purchased. Illustrate the six buying decision roles that would take place for the purchase of this service.
Q:
What is a buying center? What are some implications of buying centers to the marketing manager?
Q:
Briefly define and describe each of the categories of business goods and services. Give two specific examples of goods or services that fit into each category.
Q:
What is reciprocity? Is it illegal or unethical? Why or why not?
Q:
Name and briefly describe five of the major differences between business and consumer markets.
Q:
Explain the four ways demand in business markets differs from demand in consumer markets.
Q:
A Brazilian manufacturer of solar cells used as a renewable source of energy in all types of structures would like to begin distribution and sales in the United States, Canada, and Mexico. The manufacturer has hired you to investigate NAICS data for such products in North America. What is the NAICS system? What other helpful kinds of information can be found in this source?
Q:
Discuss how institutional customers differ from other types of business customers such as producers or resellers. Give two points of differentiation.
Q:
Describe the reseller market. Why do businesses use the services of business product distributors?
Q:
Briefly describe the four major categories of customers in business marketing. Give examples of companies or organizations in each category.
Q:
What is a strategic alliance? How is it linked to relationship marketing?
Q:
Discuss the difference between disintermediation and reintermediation. Give an example of a company you are aware of that used these strategies.
Q:
Discuss how businesses measure online success.
Q:
The use of the Internet to facilitate activities between organizations has evolved and grown rapidly throughout its short history. Define B2B e-commerce and discuss the evolution of e-business initiatives.
Q:
What is business marketing, and what is the key characteristic distinguishing business products from consumer products.
Q:
NARRBEGIN: Rock-TennRock-TennRock-Tenn produces packaging products. They make cartons that will hold a dozen Dunkin" Donuts, waffle fries for Chik-fil-A, Gillette razors, Haagen -Daz ice cream, express mail envelopes for FedEx and much more. Rock-Tenn business fluctuates depending on consumer demand. As plastic products become more expensive companies turn to cardboard and paper to package their products.NARRENDRefer to Rock-Tenn. A sales representative from a paper producing company calls on Rock-Tenn routinely every month to review their ordering needs. The monthly sale of paper to Rock-Tenn would constitute a:a. new buyb. modified rebuyc. straight rebuyd. modified new buye. straight new buy
Q:
NARRBEGIN: Rock-TennRock-TennRock-Tenn produces packaging products. They make cartons that will hold a dozen Dunkin" Donuts, waffle fries for Chik-fil-A, Gillette razors, Haagen -Daz ice cream, express mail envelopes for FedEx and much more. Rock-Tenn business fluctuates depending on consumer demand. As plastic products become more expensive companies turn to cardboard and paper to package their products.NARRENDRefer to Rock-Tenn. A paper producing company sales representative wants to do business with Rock-Tenn. He/She needs to locate the person who actually negotiates the purchase, in other words, the _____ in the buying center.a. influencerb. gatekeeperc. deciderd. purchasere. user