Question 1

Fasteasytrade.com is an online trading community that brings together more than 50,000 suppliers and 4,000 buyers from various industries.It handles more than $30 billion in orders annually. Fasteasytrade.com is a(n)  _____.

Accepted Answer

A)  e-marketplace
B)  Web stock exchange
C)  Web commerce room
D)  consortium

Question 2

Which of the following is true of a reverse auction?

Accepted Answer

A)  Would-be buyers are invited to bid in competition with each other.
B)  As the auction progresses, more would-be sellers become involved.
C)  It benefits the sellers significantly more than the buyers.
D)  The bidding is sequential-it occurs in order, one at a time.

Question 3

In a buying centre, _____ have formal authority and responsibility to select the supplier and negotiate the terms of a contract.

Accepted Answer

A)  gatekeepers
B)  deciders
C)  buyers
D)  influencers

Question 4

The total purchases of ultimate consumers in a year are always far greater than those of organizational buyers.

Accepted Answer

A) True 
 B)False

Question 5

The North American Industry Classification System (NAICS)  permits a firm to:

Accepted Answer

A)  find the NAICS codes of its present customers and then obtain NAICS-coded lists for similar firms.
B)  get the names of the purchasing agents of all prospective customers.
C)  sell to any company within North America as long as it is not a monopoly.
D)  engage in benchmarking with companies manufacturing and/or marketing similar products.

Question 6

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

Accepted Answer

A)  Organizational buying behaviour is similar to consumer buying behaviour 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)  Forecasting is not as important in organizational buying as in consumer buying.

Question 7

Franco, a purchasing manager, reorders an existing product from a list of acceptable suppliers without doing any quality check.This is an example of a _____.

Accepted Answer

A)  new buy
B)  straight rebuy
C)  modified rebuy
D)  standard buy

Question 8

At which stage in the buying decision process will a firm visit potential suppliers to assess their facilities?

Accepted Answer

A)  problem recognition
B)  information search
C)  evaluation of alternatives
D)  purchase decision

Question 9

What are the five stages of the organizational buying process?

Accepted Answer

The five stages of the organiz...

Question 10

For organizational buyers, price is not always the most important criteria.

Accepted Answer

A) True 
 B)False

Question 11

The small business services department at Global Information Services is aimed at providing small business owners with information and assistance to promote growth of their companies.The existence of such a department is an example of market segmentation based on _____.

Accepted Answer

A)  type of customer
B)  size of customer
C)  type of buying situation
D)  customer location

Question 12

The reseller market includes:

Accepted Answer

A)  manufacturers and service providers.
B)  Retailers and wholesalers.
C)  government agencies and service providers.
D)  agricultural markets and the mining industry.

Question 13

Reverse auctions:

Accepted Answer

A)  are seller-initiated.
B)  benefit the sellers significantly more than the buyers.
C)  have a decreasing number of bidders as the auction progresses.
D)  benefit the buyers more than the sellers.

Question 14

Which of the following is true about organizational buyers?

Accepted Answer

A)  Their total purchases in a year are far more than that of ultimate consumers.
B)  They purchase and lease smaller amounts of supplies than ultimate consumers.
C)  They purchase only business services for their firm.
D)  They purchase only raw materials for their firm.

Question 15

Content marketing seeks to keep customers engaged through informative and timely communications.

Accepted Answer

A) True 
 B)False

Question 16

Marker Jimmy's Co., a large cocoa-bean processor, buys cocoa beans and converts the beans into cocoa powder and cocoa butter, which is sold to companies that manufacture consumer products containing chocolate.Marker Jimmy's Co.is operating in a(n)  _____ market.

Accepted Answer

A)  reseller
B)  vertical
C)  industrial
D)  business-to-consumer

Question 17

P & P is a global leader in pallet and container pooling services.Pallets are used for transporting and storing new appliances such as stoves, freezers, and refrigerators.Which of the following is true about the demand for P & P's pallets?

Accepted Answer

A)  There is a high consumer demand for P & P's pallets.
B)  There is elastic demand for P & P's pallets independent of the sales of pallets but tied to the sales of appliances.
C)  There is derived demand for P & P's pallets because demand for the pallets is tied to demand for the appliances.
D)  There is inelastic demand for P & P's pallets tied to the cost of the components of the pallets.

Question 18

Differentiate between traditional and reverse auctions.

Accepted Answer

With a traditional auction, there is one...

Question 19

Organizational buying behaviour is the process by which organizations determine the need for goods and then choose among alternative suppliers.

Accepted Answer

A) True 
 B)False

Question 20

An industrial firm:

Accepted Answer

A)  is distinguished by the amount of energy it uses and the potential for pollution to the environment.
B)  in some way reprocesses a product or service it buys before selling it again to the next buyer.
C)  employs more than 500 people, who are paid minimum wages with few or no benefits.
D)  deals exclusively with federal, provincial, and local governments, and often mediates governmental agency disputes.

Exam 5: B2B Marketing

The small business services department at Global Information Services is aimed at providing small business owners with information and assistance to promote growth of their companies.The existence of such a department is an example of market segmentation based on _____.

Correct AnswerverifiedShow Answer

Marker Jimmy's Co., a large cocoa-bean processor, buys cocoa beans and converts the beans into cocoa powder and cocoa butter, which is sold to companies that manufacture consumer products containing chocolate.Marker Jimmy's Co.is operating in a(n) _____ market.

Correct AnswerverifiedShow Answer

Franco, a purchasing manager, reorders an existing product from a list of acceptable suppliers without doing any quality check.This is an example of a _____.

Correct AnswerverifiedShow Answer

P & P is a global leader in pallet and container pooling services.Pallets are used for transporting and storing new appliances such as stoves, freezers, and refrigerators.Which of the following is true about the demand for P & P's pallets?

Correct AnswerverifiedShow Answer

Differentiate between traditional and reverse auctions.

Correct AnswerverifiedWith a traditional auction, there is one...View AnswerShow Answer

An industrial firm:

Correct AnswerverifiedShow Answer

Which of the following is true about organizational buyers?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

What are the five stages of the organizational buying process?

Correct AnswerverifiedThe five stages of the organiz...View AnswerShow Answer

The reseller market includes:

Correct AnswerverifiedShow Answer

Organizational buying behaviour is the process by which organizations determine the need for goods and then choose among alternative suppliers.

Correct AnswerverifiedShow Answer

Content marketing seeks to keep customers engaged through informative and timely communications.

Correct AnswerverifiedShow Answer

Reverse auctions:

Correct AnswerverifiedShow Answer

At which stage in the buying decision process will a firm visit potential suppliers to assess their facilities?

Correct AnswerverifiedShow Answer

For organizational buyers, price is not always the most important criteria.

Correct AnswerverifiedShow Answer

Which of the following is true of a reverse auction?

Correct AnswerverifiedShow Answer

The total purchases of ultimate consumers in a year are always far greater than those of organizational buyers.

Correct AnswerverifiedShow Answer

In a buying centre, _____ have formal authority and responsibility to select the supplier and negotiate the terms of a contract.

Correct AnswerverifiedShow Answer

Fasteasytrade.com is an online trading community that brings together more than 50,000 suppliers and 4,000 buyers from various industries.It handles more than $30 billion in orders annually. Fasteasytrade.com is a(n) _____.

Correct AnswerverifiedShow Answer

The North American Industry Classification System (NAICS) permits a firm to:

Correct AnswerverifiedShow Answer

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With a traditional auction, there is one...
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The five stages of the organiz...
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